Often Partisan

News from Hong Kong: More Delays

Birmingham International Holdings have announced to the Hong Kong Stock Exchange today that there is a delay to them holding an EGM to authorise new funds coming into the company.

The announcement made this morning references the announcement made three weeks back stating that Cheung Shing and Victor Ma Shui-Cheong were going to put money into the company by way of a convertible bond. For the convertible bond to be authorised, an EGM would have to be called and BIH have confirmed that they need additional time to do so.

BIH are no doubt being very careful with credible rumours from Hong Kong that the HKSE are investigating the company over the auditing of the year-end 2011 accounts – as those investigations are secret and the HKSE do not comment it is impossible to verify the rumours but I have no reason at this time to doubt the accuracy. This will no doubt delay any chance of a takeover with pessimistic sources now saying it’s unlikely to happen this season.

Carson Yeung looking old (Courtesy Next Media)

Carson Yeung was back in court today making an application for bail pending his appeal against his convictions for money laundering. Next Media, who have noted in their early stories how grey and grizzled the former BCFC president looked have reported that the application has been postponed with no date for a new hearing confirmed as of yet.

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