Often Partisan

BIH Announce AGM

Birmingham International Holdings have confirmed that they will hold an Annual General Meeting on May 10 at the Gold Coast Hotel in Hong Kong.

The holding company made an announcement to the stock exchange today to confirm that they will be holding their first AGM since December 2010.

The timing of the AGM is intriguing as it will be held one week after the end of the season, which should ensure that the holding company know which division Blues are playing in during the 2013/14 season. Furthermore, it is slap bang in the middle of Carson’s trial which will be held 20 miles away in the District Court, in Wan Chai on Hong Kong Island meaning it will be interesting if Carson can even attend the AGM himself.

 

Tags: , ,

15 Responses to “BIH Announce AGM”

  • matt says:

    Am i suffering a long painful death? Please doctor tell me the exact day i will die?

  • swissjonny says:

    I used to live on the Gold Coast development.Its a nightmare to get to.A wise location if you really want to put people off turning up.A long MTR ride followed by a truly hideous Bus journey.

    • almajir says:

      That was the impression I got when I looked at the map. It’s quite different from their last AGM which was held on Hong Kong Island…

  • chas says:

    All our Shareholders will be using their Helicoptors to fly in, surely?

  • Oldbluenose says:

    Let us hope and pray, that the outcome will be, ” MUSIC TO OUR EARS “, !!!!.

  • Oldbluenose says:

    Almajir;, An afterthought, — Could this possibly be a pre-annoucement of a sale, ??.

  • mark says:

    maybe interesting situation we still have CY who will possible be found not guilty, PP will still be claiming his expenses,and clark will be building a promotion chasing team for the premiership. I truely think things are on the up for us. still cannot wait to get my season ticket for next year.. Hopefully all this mess will over soon….

  • DoctorD says:

    Al – what’s all that gubbins in paragraph A, B and C (“THAT the aggregate nominal amount of share capital allotted and issued or agreed conditionally or unconditionally to be allotted” etc etc).

    • almajir says:

      I’m trying to get a definitive answer on that

    • DavidS says:

      Looking at the announcement:
      A: Basically means that the Board can issue up to an additional 20% of share capital without having to seek shareholder approval. On the face of it seems to indicate they are looking for someone for investment rather than full sale.
      B: Means they can buy back up to 10% of the current share capital without seeking shareholder approval. Would mean the company buying out some or all of the shares from current people. Seems unlikely given our serious lack of cash to run things as they are.
      C: this makes more sense of B as it means that the 10% that they buy back can be added to the 20% they are allowed to allocate in A.
      The scenario looks like that they are going to buy back some shares from current shareholders, (either buy out one or two people or all shareholders give up 10% of their shares for example) and then they can issue 30% of share capital, to a new individual or individuals who is investing which would then make them potentially the largest shareholder. This seems to be pointing towards the seeking investment route rather than full blown sale or at least is about giving the board the option of this without having to seek shareholder approval.
      Just to be clear this doesn’t necessarily mean they are still not looking at a full sale, just that it gives the board more flexibility to get investment in a shorter timeframe as it will not need to face full shareholder approval if a sale is not looking likely.
      Hope that helps!

  • Bombay Blues says:

    DavidS

    Great assessment thanks.

  • Andy W says:

    That’s an interesting post DavidS, thanks. I have been pondering this issue for a while. Thinking back to the start of the season, we were all looking to November when we all hoped that Mr Yeungs’ trial would get to the truth into what was going on behind the scenes. There followed a fairly predictable attempt to stall from the lawyers, and I remember saying at the time that this wouldn’t be sorted out until the end of the season. However, the aforementioned trial has still not yet started. I don’t know how it rolls in Hong Kong, but fraud trials here are extraordinarily long. Every receipt is taken account of and every payment. They take months. My fear is that the reality will be that we are no further forward by the start of next season, and it worries me that we will be hampered once again in the transfer/loan market which will make it difficult to rebuild. We might have to settle for more of the same next year? And maybe that could be why the board are looking for investment rather than, or prior to sale?


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

Archives