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BIH Announcement: Takeover date brought forward
Birmingham International Holdings today made an announcement to the stock exchange confirming that the schedule for the takeover has been revised and the resumption in trading of shares in the company should take place on October 17.
A link to the full announcement is here.
So what does all this mean?
One of the hurdles that BIH had to jump through to get this all done was to get the approval of the Grand Court of the Cayman Islands – remember that BIH is a Cayman Island company. This was achieved yesterday, and means that the timetable for the steps now to happen can be re-evaluated and confirmed.
The dates have fallen in such a way that all the steps should be completed to allow a resumption of trading in shares on October 17. When the shares are re-listed, EY will then step back from their role as Receivers and Trillion Trophy Asia will be in control both as majority shareholders and in the boardroom.
So this is it? It’s all done?
Pretty much, yes. The announcement does confirm dates are still tentative which gives BIH wiggle room if extra time is needed for procedural reasons – but the truth is we’re in the home straight now. There is no further approval needed from shareholders and/or the courts with the only thing left for the High Court of Hong Kong to do now is to discharge the Receivers.
Does this mean Blues will be able to spend big in the winter window?
Alas, this is a question I cannot answer. Although it’s been indicated there will be £10mil or so to spend that was an arbitrary figure to give illustration as to what the funds generated by all this could be spent on. It really is a question of waiting and seeing just how much Paul Suen and his buddies want to pump into the club for new players when the time comes.
When will we hear more?
I suspect there will be announcements to confirm various bits of procedure but I don’t think there will be anything now truly groundbreaking until the shares are finally relisted.
Tags: BIH, Ernst and Young, HKSE Paul Suen Cho Hung, The Takeover, TTA
90 Responses to “BIH Announcement: Takeover date brought forward”
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Hooray thanks Dan kro
I didn’t think I would ever be reading this in my lifetime
Great news and so long waited for. Thanks for the update. Now we must wait to see what the new owners plan for the club. Let’s hope we finally can start to see some real investment in the club and Blues seriously mount a promotion challenge.
Good news……I think! It is just sad that I cannot get excited about anything to do with our ownership and will always be a sceptic needing to see actions rather than words, no matter who owns us. My trust in ANY owners went a long time ago.
i couldnt agree more with you. When it comes to Blues then anything is possible, i always think back to the Kumars as well as Carson but i do feel we have finally turned the corner after so much uncertainty and can finally move forward.
Although sceptical I still have HOPE. That is what being a Blues fan is all about. In our hearts of hearts we KNOW that we will never be a top top team but we do have our hopes. Once that hope has gone we have nothing. We must thank Leicester for what they achieved last Season because we now know nothing is impossible.
thank mate for your hard work and dedication I don’t know where we would be without ofterpartisan thanks again dan kro
Many thanks Dan for the time and effort you have put in to keeping us all informed. You really have done a brilliant job on behalf of the fans. Well done.
Agreed Martin. Good job we have Dan to read between the lines for us! Thanks again Dan you’re a
*Star!
Thanks Dan for all your hard work. Much appreciated.
Cant let this go bye without stating what an enormous over reaction your ban on comments has been, for a little verbal spat between two posters you made big thing of it unnecessarily There were no legalities involved , no reason for your actions at all, you need t. Get a grip ,on reality Daniel you may insist this is a blog but it is not really, its a forum where fans can discuss issues relating to the club Your opinions may kick it of but things move on very quickly to matters we want to discuss. In short you need us more than we need you, without half a dozen or so posters here your site would die a death, take those people out and you are left with a crowd of sycophants.
Tony
It’s not a forum – it’s my blog.
I suggest you get used to using other sites to discuss your opinion.
Well said and thanks for you blog now and for as long as u can blog it
Well said, I would have put it slightly more firmly, perhaps “its my house , my rules, don’t like it eff off”
Some of us actually appreciate the work and effort the owner puts in , some would rather whine and bitch
Almajir
The comments functionality you have given on this page will always attract a broad view of opinion because of the subject and nature of football and this creates divides even between a clubs own fans. Football at pro level encourages divides.
This is again just my opinion, it’s up to the reader what to make of it.
Just ban Tony problem solved
Probably the most sycophantic and pessimistic man on the planet
So that’s your answer Dan H ban me?: you sir are imbecilic, Dan will not ban me because he has no cause, also I put forward honestly held views, I also class myself among the half a dozen or so posters this site relies upon. Needles to say you do not figure among the other five. Furthermore may I suggest you obtain a dictionary you then may learn the meaning of the word sycophant thereby discovering you fit perfectly .
Tony
You may have found all your comments now require approval…
Also, if you actually read your email I sent you, you’ll realise that this site in no way relies on your comments – or anyone else’s to be fair bar mine. I suggest you locate a dictionary, and maybe look up the words “hubris” and “self-importance”. :)
We have lift off
Excellent news . All positive at the moment and so good to be able to post again , thanks dan and up the blues .
Great news KRO
I would just like to thank you Dan and all those that have helped you along the way for your updates over the years, without those updates i,d know or understand none of the things that have gone on! If you do decide to knock OP on the head when it,s all done, i,d like to wish you all the best !! From a long suffering but alwaysTrue Blue !! KEEP RIGHT ON !
Get in there!
There is no sense in letting Blues tread water, so do you think Paul Suen will be looking to offload BCFC sooner rather than later, or invest in a push for the Premiership?
As questioned by Blue Boy 88, I cannot see the new owners buying the club for long term interest , they are noted purely for purchasing at the cheapest levels , stabilizing the companies they buy making investment to enable a profit then selling on that is their forte.
BCFC is no different i am sure their medium term plan is to get us in the Premiership and eventually cash in ( i maybe wrong )?
By sheer virtue of obtaining the HK Stock Exchange listing any initial investment already made in the club plus future investment will see TTA stock rise significantly and turn and immediate profit on their investment it is not rocket science fair play to them it is a business to them first and foremost , a football club secondly
My question is will we ever find out who they are exactly , who will be on the new BCFC board when it is formed, will it include Panos long term? i truly hope so because BCFC is in his blood now and he has done a great job in sometime awful circumstances not matter what you think of him and long term the club will be run the right way in safe hands with him. The future of GR is assured whilst Panos is in daily charge at the club but if the invisible men of TTA do wish to show their real motives and faces to the supporters leaves more uncertainty time will tell.
Without doubt excellent news let us hope it continues the same vain for years to come KRO
If their plan is to get us into the Prem then cash in it`s going to take a lot more than the quoted investment to get us there. More likely they`ll get the club on an even keel and sell for a modest profit in 2 years time. I`m struggling to see how they can make a profit from us in all honesty.
So, is this the end of Often Partisan?
No it must not be allowed to end. This has been the only place we could see honest up to date information regarding our club. The evening mail is so one eyed it has now been renamed the Evening Villa.
Totally agree Choc. Thank you for everything Dan
Great news. They plan to tern a profit and the only way to do that is get the club in the premiership.
Thanks Dan Maybe you can rest up a bit now.
Excellent, excellent news. ps thank you for bringing Comments back n
Whilst I totally understand why people are happy about the imminent end to the limbo we have had to endure, and without wishing to piss on anyone’s chips, can I just point out that we know bog all of TTA’s detailed intentions & plans and therefore a big dose of scepticism might be wise here? I’m not saying we should be unduly n3gative or assume the worst – far from it – but equally let’s not get carried away just yet eh?
I`ve been saying this for months.Of course i`m pleased that CY has gone but none of us know much about TTA or their plans so let`s not get carried away.
Dan stay with us i sometimes do not agree with you but all of us as bluenose have various opinions and your regular updates, inside information and contribution make this web -site a great sounding board no disrespect to other Blues web -sites, The intensity you showed especially in HK outshone every other media by miles your efforts have always been so welcome and therefore KRO and keep the comments open please
cant wait for TTAs annoucement to supporters groups and lets hope they want to rival fellow Chinese ownership in ambition at wolves and av.
Thanks Dan for all your brilliant work using Google
Isn’t it funny how there is some jealous bugger who acts all salty – and yet they never have the balls but to use an obvious fake name and email address?
;)
Pan whhhooooo???
Echoing the thanks above for the great blogs and keeping us all up to date on this when the newspapers didn’t put the hours in to tell us what was really going on. Cheers dan and KRO.
Good start to the season sitting above Villa and excellent news from HK. Now let’s all get behind GR and the team kro
Hi Dan
Do you have any idea what EY fees are ? Additionally who are responsible for any said fees ?
Essex based bluenose
No idea on fees, but the word is TTA are paying them
I don’t see why this would be the end of often partisan
As Dan has said. Many times it is jus blog.
Just because ownership is sorted doesn’t mean he wil stop blogging on the club he loves as we all do.
His blogs on tes, and manager etc are always objective if not my view. But that’s a blog!
But we are all hugely grateful to you Dan. You have been like a dog with a bone with CY and PP. You have translated numerous announcements in to laymNs terms. So we are all grateful for that.
Thank you,
Oh for golds and Sullivan. I genuinely never moaned about them once. Cos as a 13 year old I went and painted the Kop crush barriers with my own blur paint in exchange for a free metch ticket from the
kumars after an appeal on brmb. Look at West Ham now. How many times did they push for a Midlands stadium?
Sorry for typos. He blogs on team. Laymans terms. Blue paint.
KRO
This is the beginning of the end but realistically, as very little is known about the new owners,we can’t predict the future.
One thing we can predict is assuming Dan does decide to call it a day it will be a very sad occassion.
Hopefully he will stick with it.
Thanks Dan for the updates & reports and for ‘translating’ the legal stuff so effectively. Here’s to a new era! KRO.
Daniel I very MBE
Great news Dan. As PSCH is a little on the shy side it’s a shame he probably won’t make an appearance in the kop waving a scarf. Do you know if he’s taken the owners & directors test yet?
I reckon deep down you are a bit dissapointed all this is coming to an end Dan, after all the time and
effort you have put in to this saga, be honest have you enjoyed the ride ?
Clearly you are very good at what you do, I would be suprised if you havent had a couple of job offers of the back of it. You could go and sort out the Evening mail if your bored enough.
People seem to think you might be calling it a day on this blog, I wasnt aware you had indicated such but whatever you decide to do good luck.
ps we dont always agree with what you say, but we all agree we will miss this blog.
Thanks
The Phoenix Rises from the Ashes!!!
Many thanks Dan you are a star!!!
KRO!!!!!!
When this is all over you deserve some kind of award and recognition. Thank you for all you’ve done.
I don’t want any awards Al, I’m just a fan.
and so are we :)
Dan should be applauded by all Blue Noses, he is a true seeker of truth and Justice
I always felt everything in this blog is heart felt and for the long term benefit of OUR club
Excellent work since 2010 and still going
Arise SIR almajir
I echo the thanks of everyone else………and the need to be a bit cautious about what we wish for!
It is a grey and rainy day in Devon, but suddenly the sky seems a little more blue.
We also have to remember that owning a football club is a very good move in China at the moment, maybe “right time, right place” should be our mantra.
I’m not jumping up and down waving my knickers in the air just yet..i will wait and see ..Blues fans have been kicked in the bollocks for far too long and after a while your nuts just become numb…
Dan,
You can see from the amount of comments that we all appreciate everything you’ve done in keeping us informed in an honest and straightforward manner, especially dealing with issues that were at times extremely complicated for us to follow. KRO and keep blogging.
Thanks for breaking down all the legal jargon Dan. Keep the blogs going in the future KRO.
Thanks Dan for all the hard work and time you have given us. You have led us through some very dark times . Hopefully we can put that behind us and look forward to a brighter future. I am sure I speak for one and all in wishing you and your family all the best for the future. Many thanks again to a real true bluenose. KRO.
I echo the thanks to Dan for all his hard work in deciphering all that has been going on. The end of OP ? – I bloody hope not. OP is the first blog I read whenever I go on to News Now, whether it is about ownership issues or about the football.
Many Thanks Dan over the years.
Dan. KRO and on and on and on please.
Well done Daniel. Greater Birmingham wishes you well
Dan, You have definitely became the go to guy for any ownership news! I take my hat off to you and we were happy to make a contribution in exchange for that online advert, happy to do so again if you continue.
KRO
Great news thanks for keeping us up to date Dan
Brilliant news (for a change) hard to not get excited for January (sorry for wishing our lives away lol) it’s gonna be great to finally put all this stuff behind us and move on to hopefully, bigger and better things
KRO!!
Dont ever end OP, sending my love all the way from stoke town x
And so we move confidently into a bright and stable future. All uncertainties, disappointments and shady deals over. Happy days ahead. A contented from the long suffering fan-base. OP, nothing much to report on. Well, that’s Friday 1 September 2016, anyway.
First up,thank you Dan for all the hours you have put in ,you Have been a light of communication when all around us was a dark silence.
Let’s hope better days are round the corner
TTA have spent a lot of money thus far (EY fees, loans) and a lot of time (that would have otherwise been allocated to other projects). When the takeover is completed the fees can’t be recovered and loans will be written off in exchange for the new shares.
It may well that a reasonable value for club at that point is greater than those write-offs but they have stated they will be here at least the end of next season. To turn a decent profit they need BCFC in the Prem and to do that they will know that there needs to sufficient investment. I just don’t see them underinvesting as it would be counterproductive to getting the best sale price.
Can I take this opportunity to apologise to Dan firstly and secondly anyone else on here who I upset or offended. Keep up the great work Dan this is fantastic news Imo. In rowett I trust kro
I second everything littleblue as said and appolagise to Dan , littleblue and anyone else I’ve had a dig at .. Ime not like that outside football and will promise here and now to except other fans opinions and just smile away :-) …Fantastic news about the takeover and the comments being put back on .. Long may it continue ! KRO
Dave, I didn’t see the posts on here that upset Dan so I can’t comment, but i’ve known you on here for a long time & we’ve had our agreements & disagreements but you seem an alright bloke to me who’s passionate about the club we all love and you obviously wear you heart on your sleeve as far as blues go. I’m sure whatever was said will be forgotton & it’s good to see some of my on line “friends” back & the comments section reactivated by Dan as it’s always good to see others opinions. Here’s looking to a brighter future for BCFC. Kro
I said some bad words ChrisG to be honest and it’s only in reflection that you wish you had kept a lid on it and just appreciate that other fans do have different opinions even if you think yours is the correct one …. It’s history to me now mate and with new owners coming in on October 17th my mind and body feels a lot better with the future now .. Cheers for your kind words . KRO
Thanks Dan for all your time spent giving us
All the ifomation about BCFC
And for all the moners out there if you want
To do a site like this get on and do it ,but don’t
Criticis Dan he must spend a lot of time doing
This site a credit to him .
Said it on twitter Dan but to be fair I don’t think many other 3rd parties can claim to have had a bigger role in bringing this about. Handling of Pannu and his outburst was very clever and genuinely sped up the start of this process, for that all Bluenoses should thank you. As for the future under TTA, we don’t know their intentions but I think I can say with some confidence that they can’t be any worse than what we have endured these last 5/6 years. If they want to cut and run then fine, if they are in for the longer haul then that’s fine too, as long as they leave us with someone who can run the club properly
Thanks Dan for taking us through this painful process. I must admit that I am concerned about Chinese ownership. All top midlands teams are Chinese owned. Where are all the British rich folk? I envy WHU and wish all British owners the best of luck. Onwards and hopefully upwards…Keep Right On and thanks again Dan……
Thanks Dan just a big big thank you for everything and take no notice remember KRO buddy
Well done and thanks to dan…. I waiting hearing on 17th Oct from TTA will takeover at blues ??and I hope so Blues fan full house at BCFC 28,000 everytime Pls support to Gary Rowett…Come On keep right on the blues
we have not got above 20,000 yet! have been inside the stans lately?
Thank you Dan for your update.
It does look as though this fiasco is finally coming to an end at last.
BUT why is it we as a nation become so elated by Chinese buying up our assets – football clubs included and BCFC in particular. The way things are going we will soon be working for the Chinese in exchange for a bowl of rice. I am sorry, I can’t get too excited about that prospect.
Well it’s been mind numbing stuff for the best part of 5 yrs so let’s just be thankful that at last it’s coming to an end (although pannugate was pure class).
Glad to see comments back and enjoy reading the opinions of other bluenoses as well as Dans so keep up the good work and roll on the 17th October.
Zeus, Hera, Poseidon, Athena, Appollo, Artemis, Hestia, Demeter, Hermes, Aphrodite, Ares, Hephaestus and now Almajir. You are now officially at the table on Mount Olympus, in fact you are at the Pantheon Daniel. God bless you Brother Blue. KRO. One and all.
If all goes thru as planned on the 17th Oct we play Rotherham at home the next day & then our next home game on the 30th is against the noisy neighbours from across the expressway….you couldn’t write this stuff!!. Kro
what the chances of paul suen getting ridden of GR and panos if his ego bigger than their, and he wants better than is already here for our club……..
Come October 17th mark it will get interesting to see what TTA are all about and what changes if any they will make , and by the end of January we will know even more IF and its s big IF we are buying players and pushing for top six .. Something to look forward to at last I think . KRO
Hi Dave you have a big blue heart mate not many around, whatever your opinion is mate its tell me you have a big heart. We are all individuals and we all take great pride in our club bcfc…..