Often Partisan

BIH Confirm to HKSE Rejection of Bid for BCFC

Birmingham International Holdings have today confirmed to the HKSE that they have rejected an offer for Birmingham City Football Club.

The statement, which is nearly identical to the one released on the club website says that the offer was not attractive and rejected without serious consideration. It goes on to state that if an offer is received that is attractive then the company may consider it and seek shareholder approval. The statement is the first signed by Peter Pannu under his new role as Executive Director, CEO and MD

Whilst it’s nothing we didn’t know, this statement confirms two things. Firstly, that due to the censure placed upon the company by the Stock Exchange everything will have to be done above board and responded to in the proper manner – which is good for transparency. Secondly, it also confirms that any offer would have to be approved by the shareholders via an EGM.

It’s the first confirmation from the holding company that an offer has been received by them and I believe that the statement shows that they are willing to sell if a reasonable value can be attained.

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28 Responses to “BIH Confirm to HKSE Rejection of Bid for BCFC”

  • Alex W says:

    Is this another bid or the Paladini bid?

  • Suthy A says:

    Good to see pannu is making sure things are above board already, think its safe to say if he wasnt BIH wouldnt of confirmed it to the Hong Kong Stock Exchange.

  • KeeprightCroydON says:

    Hopefully we’ve seen the last of Paladini. Don’t want his sort. Now fingers crossed we’ll get someone serious to bid.

  • Oldbluenose says:

    So hard to read, really, !!. It would seem that we are open to offers — BUT — nowhere have I seen any ” open invitation ” for tenders,?.

    Almajir mate;, Do H,K,S,B,!!. Have any sort of say in the matter,?. As they are obviously owed a certain sum of monies, ??.

    • almajir says:

      OB – I disagree, it’s not hard to read at all. If anything, it’s simplistic – we got an offer, it wasn’t high enough, we said no. If we get one we like we’ll ask the shareholders if they want to sell.

      There wouldn’t be an “open invitiation” to buy the club unless they were desperate.

      Do you mean HSBC the bank or the HKSE (Hong Kong Stock Exchange)? It doesn’t really matter either way because the answer would be a flat no.

      • Oldbluenose says:

        I really should ” engage my brain ” before commiting to print,

        Last 1st, — Yes, I did mean the bank, — Thank you for clarifying that point, !!.

        1st last, — I take your point regarding views on ” reading it “, I suppose my viewing of the Chinese way of business, clouded the blindedly obvious, !!. The old saying of reading BETWEEN the lines, eh,!!.

  • Oldbluenose says:

    ALMAJIR,

    The other day, I asked if the Mittal family may possibly be a ” suitor ” for ownership of the Blues,!!.

    You replied that you doubted it, !!. — Could it possibly be Tata Motors, ??. As they already have a presence in Castle Bromwich, etc, !!.

  • BlueB says:

    “If a reasonable value can be attained.” – The difference between what someone is willing to pay and the what Carsen may want is the difficulty here. Reasonable value will be somewhere in between and may mean a quick sale is not something we are too near to.

    • Oldbluenose says:

      Yep, !!. Blue B, Conjecture on our part is just that, !!. Wishful thinking, !!!. It is hard to try and just ” sit-back “, and await developments, but that is just what we will have to do, !!!!!!!!!!.

  • Paulo says:

    At least this shows things are being done now (at BIHL) above board and I suppose it shows any potential buyer(s) that PP wont be easily pleased.
    I’m sure we are awaiting his next ‘eye popping offer’ statement!
    ..either way, it’s a good thing for us, and a good message to Paladini as well.

  • Bluenosesol says:

    Jeff Lynne is 65 in December. He did say once that he would come home when he retires!!

  • andy says:

    Whilst Carson is holding out for a £40 Million offer for the club, i dont see a takeover being imminent,if at all. Maybe Pannu is charged with finding investment to ease the cash burden and with the crowds being so poor at the moment, further player sales come January will be on the horizon, unless the asking price for the club drops or serious investment is found.

  • chris says:

    I don’t think Carson will sell before his trial unless he gets the £40 million he wants, though he is taking a big gamble due to the fall in gates.
    If the gates stay the same or get worse i can see the club having to sell at least two of the better players in January just to get through the season, which means the club’s value will have dropped even further by selling it’s assets.
    Is it the £5 matchday fine or is it the internal turmoil which is keeping fans away?
    I don’t think it is the economy, as i feel it hasn’t got worse nor better since the end of last season when we were getting 18-19000.

    • almajir says:

      “£5 matchday fine”

      /repeatedly bangs head against the wall.

    • Paulo says:

      It is NOT a £5 fine ..because if anyone gets their butt down the ticket office (or phone them up or go online!!!!) from the point of going on sale to the day before the match (that’s at least 4 weeks in some cases) then ‘anyone’ can get them cheaper ..rather than the full price.
      It’s just organising that’s all, and it will save money in the long run.

  • Hugo says:

    This club is not for sale. There has possibly been one small offer but we have even worse times ahead until these people are gone.

  • Art Watson says:

    The current gates receipts and loss of commercial revenue has already affected the value of the club and if gates circa of 15000 continues any reasonable offer will be considered .PP is a very shrewed negotiator but at some stage will accept an offer which reflects the real value of the club and he will then reach an agreement……it’s squeaky bum time but I’m sure the club will change hands before Xmas….offers of £30m should clinch it.

  • Bluenosesol says:

    Lots of comment noted about the club being affected by low gates this season. Its not just us. Bolton 17k, Ipswich 17k, Boro 15k, Blackpool 13k, Blackburn 13k – there is something going down here that is bigger than CY and a few bad results.

    • Bluemaximus says:

      Arsene Wenger has for years warned of the Financial Apocalypse, and I think with the current squeeze on finances in the home, Wenger will be proven correct. Im fed up of comparability with other midland clubs. The fact is the cost. I for years have paid on a game by game basis. I for years have missed only 1 or 2 home games due to weddings or holidays or work. But this year im picking and choosing my games because I simply haven’t got the disposable income to go everyweek.. Dont get me wrong, I’ll still attend more home games than I’l miss, but I only envisage this decreasing season after season due to 1 reason. Ticket cost.Im sure I’ll get pelters from fans about thick and thin, and our club needs you, and at 1 point id have agreed with them. But im afraid choices like home maintenance, kids ever increasing clothing costs, and fuel to get to work and back now has to take priority over a visit to St Andrews. For that, I simply cant apologise.

  • andy says:

    Completely agree and i remember Wenger making that comment, football,financially,is heading in the wrong direction. Lower league clubs being alienated because of the money involved at the top level. Sky created a monster and we supporters suffer for it, in the pocket and watching financial stricken clubs collapsing.

    • Paulo says:

      Yeah, I wonder how many ‘fans’ of these top premier league clubs have ever been to a match at the club, or just follow on sky?
      Well, sky is indeed the monster that is killing off lower league football and lining the pockets of the ‘stars’ on the pitch. That’s it really, because I don’t see any headlines on which club has invested in itself with sky money! ..rant over.

  • Dan H says:

    The offer would need to cover the remaining loans which is something along the lines of

    £16m HSBC
    £24m BIH Directors – CY, Pauline Wong and the other Short term loanee

    £40m makes sense but does not reflect the current assets of the club


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