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Snippet from the HKSE
Birmingham International Holdings have made an interesting announcement to the Hong Kong Stock Exchange this afternoon.
The announcement confirms that accounts for the club and it’s UK parent have been released and are available via companies house.
However, reading between the lines the timing of this announcement is interesting. Whilst there are regulatory reasons for the announcement having been made, it’s worth noting that the accounts that it refers to have been out for a few weeks – and the YE 2011 accounts which it also refers to have been out for six months. One would have to ask why the update to the HKSE now – is it perhaps coincidence that this comes out 48 hours after a piece in the South China Morning Post referring to those accounts?
It’s also interesting that the statement affirms that the accounts have been audited by the UK auditors and not BIH’s HK-based auditors JH CPA Alliance and that
Shareholders of the Company and potential investors should not place undue reliance on the aforesaid information and are advised to exercise caution in dealing in or with the Company’s shares.
Again – whilst this is more than likely in compliance with regulatory protocol is it perhaps coincidence that it might be telling BIH shareholders not to read too much into the criticism of the man who is also CEO, MD and Executive Director of BIH?
In the interests of balance, it is germane to note that Peter Pannu has refuted (via Andy Walker) saying anything to the South China Morning Post and that I have offered (again via Andy Walker) the right of reply to Mr Pannu to any and all articles on this site if he feels that I have got something wrong. As yet to date I have yet to receive a response from Mr Pannu.