Often Partisan

All done bar the trading…

After what seems like an eternity of false dawns, today saw the final announcement prior to the takeover of Birmingham International Holdings by Trillion Trophy Asia. It’s been confirmed all resumption conditions have been met and that everything is finally in place for Monday morning.

As confirmed before, Paul Suen Cho Hung will own 60.78% of the football club via his Trillion Trophy Asia investment vehicle. I think it’s the first time since Ken Wheldon that one single person will own more 50% of the club on their own.

There will also be five new executive directors. Paul Suen isn’t one of them – I think he’s got enough on his plate with his other companies so he’s leaving it to others. Long time associates Daniel Sue Ka Lok and Chan Yuk Yee are both named as executive directors along with two other people – Yiu Chun Kong and Zhu Kai while Zhao Wenqing is named as executive director, Chairman and CEO.

This is normally where I’d tell you about the names I’ve not mentioned before but the truth is there is very little out there. I’ve found confirmation of Zhao Wenqing working as a Shenzhen listed company’s chief accountant but there is very little else out there about him. Whether this is a good thing or a bad thing I’ll let you decide.

Panos isn’t named as a director of BIH; there has been no confirmation of his role at BCFC either but I would suspect he’ll remain in the same capacity as he currently serves.

While there is a lot of dry financial stuff in the announcement, there is also confirmation that there wasn’t just one allegation made to the Stock Exchange about how the company was being run – but nine.

It’s important to note that no names are given – and I think to remain on the right side of the law I won’t name who the repeatedly former Director is either. I’d appreciate it if when commenting readers did the same as seeing comments getting nuked seems to upset people.

The first allegation relates to comments made by a former director on this website – which I’d like to remind the Stock Exchange of Hong Kong is a blog and not an online forum. As there ended up being no fall out from what was commented the HKSE have allowed it to slide; much as they have with the other ones.

My personal favourite is the fourth one:

One of the Former Directors was bribed by the Company on 11 December 2014 with a bonus of HK$5 million to “get them resumed with my lips shut which I have refused”, as claimed in his email dated 11 December 2014 addressed to the Stock Exchange.

I wouldn’t like to imagine which former director would send that to the Stock Exchange, or for that matter think about how much beer he’d been drinking in the establishments of Wan Chai when he sent it.

The upshot of the allegations is nothing further is going to be pursued. I think it’s a case of everything is done now, the perpetrators are gone and have no further influence so it’s time to move on.

So that’s it. All done bar the actual trading of shares…

 

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44 Responses to “All done bar the trading…”

  • DoctorD says:

    Brilliant. End of an era. Thanks Dan.

  • Chris W says:

    So glad to see that the old lot are finally gone. I’ve cleaned my misty optics so I am now optimistic. KRO.

  • chudlt says:

    Thanks Dan for pursuing the truth for the last few years. KRO

  • Tony E says:

    Nine allegations of mismanagement at a company and yet the HKSE decide to take no action, incredible!

    • almajir says:

      I get your point – but if them taking action would have delayed things by another year or two would you have accepted that?

  • Mickey07 says:

    Well done Dan good work you were a pain in the arse to certain people and trod on there toes which must have made his life a lot harder in these days of “online” imagine what he might have got away with if it wasn’t for those pesky kids back in Brum…

    And as for our pal we all know you can’t polish a turd…vile bloke.

  • Kazakblue says:

    Wonder if he was drinking in The Country Girl, Neptunes 1 &2 or the New Makati in Wanchai, should have stuck to Ned Kellys in Kowloon

  • Deb P says:

    Thanks again Dan. Excited to move forward now.. onwards & upwards!

  • Peter Jinks says:

    Can’t be any Worse really
    All positive
    All good

    We Kept Right on

    We’ll reap the rewards

    And we’ll be there
    “Where”?

    @ The End of the Road.

    Birmingham City F.C

  • Flakey says:

    Great news,Thank You Dan for all your hard work,top man!
    Now will all the stay aways get back down to Stans and cheer the boys on,we’ve had a great start to the season you know KRO

  • Con says:

    Can we buy shares when trading starts?

  • I think once in the driving seat E & Y the HKSE and the court’s have handled this Well in their own way ..and GOOD LAD YOURSELF DAN…KRO

  • Art says:

    Fabulous news Dan and well done!

    Great pity no further legal action is being taken against certain ex- employees but hopefully their credibility is now in ruins.

    Goes around – comes around!

  • EamonC says:

    Any chance the new owners will come out and say something after Monday ?

    I am sure WM will have a special ( I don’t Think).

    Well done Dan for your hard work over five years

  • Brumbie says:

    Do we know how much the new owners are worth or what they are prepared to invest ?

    • almajir says:

      Brumbie – I’ve written a fair bit on Paul Suen over the last fifteen months… you could read that?

  • TILLEY 88 says:

    Great over the last few years thanks for all the hard work KRO

  • BhamCityJulian says:

    Obviously pleased it’s all been concluded but the void it creates is going to take a while to get used to.

  • Don’t worry Eaman C i have already pegged that CYY is a master of business law and has a degree in it … .

  • Jacky says:

    According to the information of the Stock Exchange, “Shell King” and Ring Power (01102)
    Major shareholder Sun coarse Hung on Thursday (13) on the sidelines of Birmingham Global (02309) 1.75 billion shares or
    30.51%, price 0.08 yuan per share, the total value of 94 million yuan.
    Birmingham Global since December 2014 suspension so far, announced earlier restructuring, “twenty-one” and then “two for one”
    Announced the results of the Rights Issue this month with a total of 12 valid acceptances, representing a total of 101 million Offer Shares, representing all of the Rights Shares
    Of the 41.58%, the rest by the underwriters Jin US investment subscription.
    It has been reported that the rough Hong element known as the “shell king,” said in less than three years to play six shells. Among them, a representative of one hundred
    Lingda (02326), Hong Kong stocks last year, 111 times surge in the times.
    The original large shareholder of Birmingham Yang, in 2014 for more than 700 million yuan of money laundering crimes, was sentenced to prison for 6 years, the appeal was refuted last year
    Back.

    • almajir says:

      You do know you’ve basically published a mangled translation of all the stuff I’ve posted in the last few weeks?

      Nothing new there fella…

  • Blueshark says:

    Dan,

    a really big thank you or behalf of all Blues fans for your diligence and resilience over the past few years.

    Looking forward to your next book!

  • smudge says:

    Well Done OP the work you have put in over the last four/five years is nothing short of remarkable. Hopefully now we can have some stability and sensible business strategy for the club that we all love.
    Perhaps your next book could tell how the Phoenix rose from the ashes.

  • Reg morris says:

    With all the deals going around like wolves and villa and now Nottingham forest ,do you think earnest young could possiable done better than there choice of trillion

  • WayCoolBlue says:

    Thanks Dan. Onwards & Upwards come on the blues.

  • The trading could be the start of something a lot bigger for blues , the new board seems to be set up for an all out money raising scheme , Paul suen could see this as a great game changer with the possibility of a share of a commonwealth stadium , wow that would be a rags to riches story after the last 5 years , think big to be big……. KRO

  • BhamCityJulian says:

    TTA will be working to increase the share price (as all public companies do). What their strategy is for BCFC is we’ll won’t be told although they’ll be sound bites from which we can draw our own conclusions. We don’t know, for example, if a ‘successful’ BCFC will help grow out her businesses they acquire.

  • swissjonny says:

    I think perhaps you have put your finger on a very prickly issue Julian. The HKSE has a huge problem with pump and dump schemes.

    • BhamCityJulian says:

      I wasn’t suggesting they will be doing anything underhand. Growing the share price through legitimate business processes is what businesses do to increase the wealth of their shareholders and other stakeholders gain (employees, customers, suppliers and the general public. That’s capitalism.

  • I can’t see BCFC being dumped , Not with the prospect of a CW stadium being built , this will really bring the city back to life , businesses will all get in on the act ,, and many new ones will set up shop ..it will give blues a bright future whether Paul suen will be here is not known , but there will be some very wealthy people wanting in on the act …KRO…

  • Dave Mann says:

    All done as well as the start of trading … Happy Monday as arrived and the start of a new era in the Blues history , Spring in the step this morning and looking forward to six points this week to celebrate . KRO

  • WayCoolBlue says:

    All done and dusted. Birmingham city are in business. SO SO Happy.


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