Often Partisan

BIH Announcement – Special Deal Reached with U-Continent

Birmingham International Holdings have announced to the Stock Exchange that they have struck a “special deal” with U-Continent, the second largest shareholder in the company and have rescinded all legal action against them.

The deal, which is announced here is much the same as the one made with Carson, and is essentially rewarding U-Continent’s affirmation that they will do nothing to prevent the upcoming EGM by rescinding the writ taken out against them.

This leaves one deal left to be done – with Peter Pannu – and my understanding is that this is also close.

Tags: , , , , , ,

44 Responses to “BIH Announcement – Special Deal Reached with U-Continent”

  • Walker says:

    So once those 2 deals are struck the sale commences or the stocks go live then any potential sale?

    So we are still looking at 6 months realistically

    • almajir says:

      No. There is more to it than that – there is this “restructuring” business mentioned in the announcement. My take (and what I’ve been told) is that everything will be set up so once the EGM is held, the ownership of the company will be altered and the shares can be immediately relisted – which could be more like 3 months than 6. We’ll see I guess.

  • ZR says:

    thank god for E & Y.

  • zxcv says:

    This is more good news we are most definitely moving in the right direction and tbh I am not to concerned if it is six months am just so pleased the outcome is in sight.

  • bluenose08 says:

    don’t like the idea of doing a deal with pannu especially if he benefits from it !

    • zxcv says:

      I am not to sure why e&y have to do a deal with Pannu tbh (maybe Dan will enlighten us) because he only holds a small amount of shares, but I guess TTA won`t want anything outstanding no matter how small. So maybe a couple of bags of crisps and a Mars bar will sort him out lol.

      • almajir says:

        It’s nowt to do with owning shares and all to do with the outstanding legal actions…

        • zxcv says:

          I meant they don’t need to do a deal with him in the same way as they did with the two major share holders, as in he can`t effect the vote at an EGM. As far as the court case they must also be favourites to win that anyway wouldn`t you agree.

          • almajir says:

            He can’t affect the voting no… But the HKSE won’t allow the shares to be relisted til it’s done so there is no way an EGM can be held without it.

  • Peter bates says:

    Edging closer I hope to a new era for bcfc the future looks a tad brighter kro

  • Tony says:

    Having got half way through the deal details I gave up and closed the window, my attention to the detail is just not up to it, however I do salute your ability to probe and fully understand this stuff.

  • ChrisG says:

    Great stuff thanks Dan.

  • rhees says:

    Its all posertive good news yippee

  • rhees says:

    What’s it actually mean that in the egm the club can be officially taken over !

  • Darren shields says:

    Hopefully we will have some decent money available for the transfer window .

  • duch says:

    does this mean GR may well have a transfer fund with some clout for next season so we can overtake the Vile??

  • Perry Clarke says:

    Don’t worry about Pannu, we just need him gone. I’m hoping and praying that karma does the rest….

  • Jonbcfcd says:

    Once again almajir your the man . You need recognising for what you’ve done in Hong Kong . Tip my hat once again and thank you .

  • Mitchell says:

    On the face of it – this is good news without a hint of a possible false dawn. As I see it we have a hopefully settled future where a stable squad of players can sign without the insecurity of previous seasons. TTA appear to be emerging as our new owners although this may be a temporary measure with possible selling on etc. Whichever way we view it our hopes are looking well founded.

  • Blue Eyed Boy says:

    Lets all keep it calm,yes potentially good news but how many times have we been down this road? My only concern is that our “Old Friend”(NOT!) is raising his ugly head again?

  • Dove says:

    Question is now – Will E&Y call an EGM to approve these deals before the Pannu issue is sorted (as that does not involve shares so probably does not need voted on)? I wouldn’t want Pannu Ieft in a strong position of negotiation by having the last card to play that could hold up the re-listing of the shares.

    • almajir says:

      I don’t believe they can

      • zxcv says:

        I just think tta will want all loose ends resolved Pannu has no say other than a fight in court over his sacking and denting his pride, its certainly nothing to do with himhaving the power to do anything at the egm it just makes it clean to resolve all issues imo.

        • zxcv says:

          its probably not an issue anyway as they are dealing with it could be resolved by the monthly announcement on the 30/31 April.

        • almajir says:

          Did you completely ignore what I said?

          They have to do what the HKSE asks prior to the stock being relisted. One of those things is sort out Pannu.

          Nothing can happen til that’s done. It’s not TTA’S call, it’s the regulatory officials call.

          • zxcv says:

            do you know what you posted more to the point?

            almajir says:

            April 26, 2016 at 9:14 pm

            I don’t believe they can

            So you don`t believe they can is only opinion isn`t it. so yes I have read what you said Dan.

  • Lich Blues says:

    This feels like good news Dan. Light at the end of the tunnel and fingers crossed whoever finally takes us over has vision, desire for us to vastly improve oh and some money that is actually their. Great work as ever Dan.

  • teejay says:

    i am wary again its season ticket sale time so many promises before as for pannu the robbing git just get rid out of sight but he probably wants his pocket lining again hope I am wrong this great club and fantastic fans deserve better

    • zxcv says:

      These deals have to be approved by the courts in Hong Kong and Cayman`s. and my guess is its no more than a formality, that is only my guess. Otherwise teejay relax mate this is nowt to do with S/Ticket sales. kro

  • John says:

    Dan, How big an operation is TTA? How much money do they actually have to invest is us? Is it a big/medium/small company? Any idea?

    • almajir says:

      Irrelevant questions… As I’ve said on countless occasions before it’s an investment vehicle specifically set up to make this purchase / complete this takeover…

  • mark says:

    sorry had to fall over laughing due Tom Hanks rather childish are you trying to make me cry over vilers…….well tom from the other half we are still celebrating, hopefully they keep on the downward trend and don’t stop……..

  • Alan Dawson says:

    Well done Dan , we all appreciate your hard work and hopefully you might have more information to who TTA are and what assets they have further down the line.

  • Mitchell says:

    From Daniels last comment regarding TTA and the emphasis on it being an investment vehicle etc -leaves me in little doubt that they will not be connected with us in the long term. Question is who will they eventually sell to and how long would that process take. I am pleased with the progress made obviously,but do foresee a mammoth time scale ahead with the procedure of selling it on.

    • Bluey says:

      This has been mentioned for months.TTA will probably takeover BIHL,buy another asset to protect their listing and then offload the club. I very much doubt they`d be interested in keeping us. If we`d been promoted they may have felt differently.

  • mark says:

    its a investment vehicle i wonder who driving the car? look like full circle going to happen!…it going to be a little old man who owns a veg store who made his millions selling fruit/ and sports betting……..nah it cannot be true…..
    Daniel how far are you from finishing your second book?

  • AdamTrueBlue says:

    I just hope TTA are not nieve enough to believe that big money guarantees success, because we all know it doesn’t, it only helps, we also need the infrastructure and backroom consistency. Possible exciting times ahead but keeping my head firmly on my shoulders until we have anything definate. Great bit of investigative journalism yet again from our man Dan. Kro

  • Andrew says:

    Good news and good work. Keep it coming..

  • Tony Randall says:

    It is really helpful to have these updates and insight but the reality is until we are sold to completely new owners who, this time, genuinely do have some money, we will not have the financial clout to develop on the pitch- it is a ” chicken and egg” scenario. Do the decent thing BIHL- let us go.. Please

Leave a Reply

Personalised Gifts for a Bluenose
Haircuts and League Cups
Open Tax Services
Corporate Solutions UK
PJ Planning
Rodal Heating