Often Partisan

BIH Confirm Board Meeting

Birmingham International Holdings have confirmed today in an announcement to the HKSE that the Receivers are to hold a board meeting on April 30 to discuss and approve the outstanding interim accounts for the six month period ending December 31, 2014.

The announcement doesn’t go into much detail other than to confirm that the meeting is to go ahead. What it however does imply is that the accounts are ready – a quick turnaround bearing in mind the Receivers had only given the end of April as a tentative date – and if they are confirmed they should be released fairly rapidly after the meeting.

While the interim results will be unaudited, they should give us a snapshot of the lay of the land of the holding company’s finances – and should also give us an idea as to how urgently they need to raise investment and/or sell Birmingham City.

Although noises from inside the club seem to be that they’re happy with finances for this season and going into next, it would be good to see some sort of concrete proof that this is indeed the case – which would then allay fears of players having to be sold in the summer to make ends meet.

What I’m also hopeful of seeing is some sort of indication of how the allegedly misappropriated money has gone from the company, how that has been accounted for and the official state of play with respect to loans to the company such as the £4million claim from China Energy.

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17 Responses to “BIH Confirm Board Meeting”

  • RichardM says:

    Good to see things moving in the right direction. I get the feeling that the anarchy that reigned under Yeung / Pannu is slowly turning into a more professional set-up under Ernst & Young. Of course – anarchy may well have been quite convenient for Directors looking to use the vehicle to cash in anyway they could. Let’s hope this is just another signal of the waning influence control of Yeung and Pannu.

  • steve Hickman says:

    BIH have no money it seems,so the simple answer would be for the Hong Stock Exchange just to kick them out, Carson Yeung is so desparate to stay there,plus i find this more annoying that he is giving out orders and threats from a prison cell,he as made a farce out of the FAs clean and proper code.

    • almajir says:

      Apart from the facts

      a) the HKSE can’t just “kick them off” for “having no money”
      b) It’s got nothing to do with the FA

      Great comment…

  • paul from OZ says:

    From a shareholders point of view. Would say the meeting will be told the Company will not be traded on the Exchange again, no money, bad press etc. Only option is a new Big share block holder or sell assets to pay debts and share holders get the rest. still think end is nearer, I don’t think CY as got numbers (shareholders) or money to slow sale, EY doing a great job, dotting the I’s and crossing the T’s, next step with the courts permission general meeting to stamp next step. Just hope it’s the big money groups who buy us. Go Blues

    • Smudge says:

      Get the feeling that these accounts may show how BIHL have been robbing Peter to pay Paul. An unqualified assumption but it may be possible that the whole BIHL/BCFC and other supposed business’s are just there to move money around. Hoping that this is another nail in the coffin and BCFC can come out of this without to many future problems but I wont hold my breath, this is blue after all.

  • Mitchell says:

    I will be very interested to see what fees E&Y have submitted thus far. Perhaps it will be a little early for them to be included in the accounts as it is only up to 31/12/2014.

  • ian ambrose says:

    Hard wok for nothing for 3 years !!… Carson had too many trouble!! CY stiil in prison and no money!! Always CY like talk exaggeration exaggeration exaggeration to HKSE and BIH… CY cheat with he solicitor for 24 years?????…Hmmm…. If Cy fail to have to pay £10M before 31st May What happing 31st May after what next then???????????….Hmm hmm Well done proud to Gar Rowett is good Manager at BCFC

  • DaveP says:

    May we not see an announcement regarding preferred bidders following the board meeting and the release of the accounts? Or maybe that’s a pipedream…

  • Hi Dan “Great Stuff”. As for costs of E&Y they will be what they are. However, in the Long Run it will we All Hop benefit The Blues. KRO

  • Bluehobba says:

    Probably a silly question but did the accounts need to be done in order to finalise any sale. I understand that they would have to be done at some point.

    • Blue Lizard says:

      Who in the right mind would buy anything without knowing what was in the Books? whats owed? we already know some money has been stolen by a crook…… And also especially when the major shareholder is in the chokey and PP is just a scheming bag of s**t…who knows what these a***holes have got hidden and smoke screened…lets hope E&Y find enough to blow them out of the water(my opinion and not influenced by OP)

  • DoctorD says:

    Dan — will the results get released after the meeting? Or are things different now that E&Y are in charge.

  • BhamCityJulian says:

    I expect no earlier than the announcement on the HKSE

  • Gerard says:

    Dan-many thanks-hope you do mind but Paul in Australia let us know which city you reside as I am in OZ later this year any blue noses in Perth W.A, happy to meet and buy you a drink not sure were else I will be going thanks look forward to hearing from you

  • BhamCityJulian says:

    Whilst these are strictly ‘non-audited’ accounts given who E&Y are and the circumstances of their appointment you can bet your bottom dollar the accounts have been produced meticulously and completely kosher.

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