Often Partisan

BIH AGM News – Liu Xingcheng Vote Denied?

Birmingham International Holdings have released the results of the Annual General Meeting held in Tseun Wan today to the Stock Exchange.

The announcement confirms that all directors up for re-election were duly re-elected, although none of them unaminously. Peter Pannu, Ma Shui Cheong, Cheung Kwai Nang and Carson Wong all got around 92% approval of re-election whilst Raymond Yau only got 57%. Carson Yeung wasn’t up for re-election and thus didn’t have to face the public vote.

Whilst I am unsurprised as to the re-election of Mr Yau being problematic as I understand Carson Yeung himself would have voted against him, I am curious as to how low the votes against the other four are – particularly as I know (and have  evidence) that Mr Liu Xingcheng voted against the resolutions and has much more than 7% of the shares. The announcement does say that:

(2) As at the date of the AGM,

(a) The total number of Shares entitling the Shareholders to attend and vote for or against the Resolutions at the AGM was 3,887,753,400; and

(b) No Shareholder was entitled to attend and vote only against the Resolutions at the AGM.

The announcement also confirms that five directors have retired at the AGM – Pauline Wong, Charlie Penn, Chen Liang, Cheung Shing and Gao Shi Kui. Whilst the retirement of Pauline Wong was expected and had only delayed due to her being on maternity leave it’s very intriguing that the other four have quit so soon after joining the board; with Messrs Chen, Cheung and Gao being on the board only for a matter of four days. Those retirements once again leave the board at something less than full strength with only seven directors, of which two are independent non-executive directors.

As expected, there was nothing in the announcement about any sale process.

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91 Responses to “BIH AGM News – Liu Xingcheng Vote Denied?”

  • Wingman Blue says:

    Something is afoot. The phrase ‘regularise the position’ springs to mind.

  • thongs says:

    ALL resolutions were passed Dan, go back to the announcement on 2nd April and re-read section 5. Great cause for concern IMO.

    • almajir says:

      I agree Thongsy, and I said as much on SHA. I am very, very concerned that something is going on.

      • Mickey07 says:

        Mayor is this even more bad news??or do you think something is going on regarding a sale.

      • prewarblue says:

        What other resolutions were passed Dan ?,,,,,,an increase in the C.E.O,s pay to double what it is now ?,,,,,,reduced legal fee,s if you use “Asia Rays” for legal services ?,,,,,,,directors fee,s to be paid for the year ,,,,even if on the board for a week ?

  • Gary says:

    this makes no sense at all to me. Once again I have more questions than answers. How can you have evidence that Liu voted against these guys yet the vote not reflect that? What am I missing?

  • prewarblue says:

    Join the board for a week lads,,,,,,help me beat a vote of no confidence,,,,,,I,ll see you alright,,,,,what brand of oil do you use ,,,,,Palm Oil ? ok ?

  • rob says:

    Can Somebody Please Explain In More Detail Why They Have Cause For Concern

  • Evesham Blue says:

    My apologies but I havent a clue what resolution 5 means as a humble supporter?

  • Oldbluenose says:

    The word;, — Farce, — Springs to mind, ?.

  • prewarblue says:

    Tactical,,,,,Stratigic,,,,, or just plain rigged Vote,,,,,its all the same

  • Gaz Smith says:

    After reading this and the coloum earlier regarding season renewal im mamazed anyone still wants to put their cash into the club. Don’t get me wrong. I would go if they were in division 2 with honest owners. I stood and watched doggie bell for gods sake. But there’s no way im taking my two young sons when i don’t know where my hard earnt is ending up.
    Go on strike and force a change. Lets see how long they will hang about if no one goes!!! The club willalways be there no matter if they are in administration and start all over. I would go back then!!

    • Mickey07 says:

      Yes gaz im cut from the same cloth as you,I’d go and watch blues in the blue square if we had honest owners….it just feels like pannu is taking the piss and getting away with it…,mass boycott now.

      • zxcv says:

        I never thought i would say this but it looks like that is all that is left open to us, and admin would mean the end of them. Dan in your opinion do you think this guy who`s vote was not counted has duped you and bt, was he a stooge?

        • almajir says:

          No, because I’ve seen his “no” vote – it is linked in the article…

          I am really, really worried about what happens next.

          • zxcv says:

            what are your concerns Dan?

          • thongs says:

            Goodbye Curtis, goodbye Nathan, goodbye Marlon, goodbye Murphy, goodbye club shop, kop car park, the railway end, the turnstiles, the roof, the groundsman, the tea lady, the Jeff hall clock, the big screen…..

            RIP BCFC.

            Or……..act now blues fans, protest anyway you can, buy nothing from the club, go to no more home ganes, boycott local media, don’t ring Tom Ross…..fall silent Blues. And together with stealth and unity we will rise again to reclaim our club. Do it Blues, do it now, do it for your sons and daughters, do it for your parents, and grand parents and for every brother blues fan that has stood on the kop and bellowed KRO. let’s act, act now!

        • RUPERT says:

          We have NO CHOICE but as fans of this club other than to go on strike! Do not renew or buy from club outlets. Its going to be terrible for the genuine staff at the club but in the long run the only way to release us from this evil ownership.you can see we need to take action now? We are the next Coventry and I for one cant stand the thought of these selling any good youngster to pay profits on him into Asia rays before we get another come through to sell again.

          • Paul Carter says:

            Once again can all the people not renewing and calling for boycotts please be true to their word and stay away. We don’t want you and are better off without you. Just do me a favour and make it permanent ok. Most of you hardly go anyways and some of you are certainly Vile.

            To the rest of us, the honest, loyal, resolute true Blues a big KRO and see some of you in the queue at the ticket office on Monday morning and at the pre season friendlies.
            Walk away from Blues? I’d rather lose an arm.

    • Wearynose says:

      Exactly, Gaz. I’ve been saying that for eighteen months. If 20,000 showed their support by going to the ground on match day and standing outside to shout for the team it would do two things: firstly it would cut off ticket revenue and concentrate the minds of the owners on the end of that cash cow and its impact on their continued ownership and secondly it would show potential buyers that sizeable, passionate support is ready and waiting for genuine owners. In league terms the Club is sinking anyway through the effects of the vacuuming of revenue to and, as many fans say that they would support the Club whatever division it is playing in, any damaging effect considered to exist by the tactic is irrelevant. If Wimbledon fans can create a club from scratch, play on parks pitches and be in the Football League in ten years then sinking to the Conference doesn’t matter if we get rid of these soulless, financial rapists.

  • Brian king says:

    what happens next, put me out of my misery please

  • Gaz Smith says:

    Nothing is gonna happen whilst we bank roll his 600k a year expenses!!! Don’t give them the opportunity to waste our cash with decisions based on blindfaith. In any relationship you have to getout as much as you put in. Its abusive if oneside takes advantage of the other because they love it so much.

  • StevieW says:

    The Admin clock is ticking and the sooner it strikes the hour the better for all concerned.

    For those who are still putting their faith in the club at any cost, take a leaf out of Curtis Davies book even he see’s it as flogging a dead horse.

    • mark says:

      Imo. Curtis wants to play at the highest level so let him……bye bye hopefully a decent return in funds from seiling him…

      • Wearynose says:

        Mark, and those funds will go straight to HK to reduce the owners’ enormous losses in paying 1.8 times the value of the Club and its further drop in value because of our position. There is nothing to celebrate in fees received, they will not be used for the benefit or improvement of the team. I’m surprised that, after the events of the last couple of years, anyone still believes that this is anything like a normal football club. Wake up.

    • Paul Carter says:

      Curtis Davis is not a Blues fan, you cannot even start to compare his feelings towards the club with mine and all the other real fans.

      Enjoy Wembley did ya pally?

      • Wearynose says:

        You’re not honest, Paul, you’re a purblind fool. The great proportion of any money which you give to the Club will go to HK. How can you read the facts, if you have, of the delayed, obscure and questionably company-law legal accounts, with Pannu’s sleight of hand and huge draw-down from revenues, and believe that you are supporting the Club? You’re a fraudster’s dream.

  • KeepRightcroydOn says:

    All seems very fishy.

    One would have thought with the scrutiny they are under because of the trial, every effort would be made to conduct the AGM with openness and transparently. What a strange business? Someone’s block vote appearing to go missing, four new directors resign after just a few days on the board. There’s a horrible stench coming from over there.

  • Clive says:

    I think it’s obvious that now pp has control OP is maybe worried he will sell St Andrews.. Just a guess but can’t think of anything else as Admin would be a blessing in disguise.
    And even years in the lower divisions isn’t as scarey as that .

  • Blueboy 88 says:

    And the moral of the story is PP will do what he wants , when he wants to whom he wants ,
    within all BCFC business.

    Nobody has any influence over him , or any idea what he is going to do now, tomorrow, next week, next month , next year.

    Any further speculation is meaningless , so we are all left with two choices .

    1) Continue to fund
    2) Remove all Funding

  • tony says:

    This all stinks to high heaven,just when you think the hairdresser and his consultant can’t take the piss any worse then along comes the agm.The only way I can see us ever getting rid of these scumbags is administration.Not what any of us wants to happen but is there really any alternative.Pannu will just continue to write himself a nice wage and consult with himself to see if its enough.Well I nevr thought i’d say it but after having a season ticket since 1987 I won’t fund that tosspot any more with my money.

  • mark says:

    Again I support bcfc simple as that…….what do think they going to do with 80 million at stake ?????? Your protest whether you like or not is simply waste of time and effort…………what a perfect knockout blow carson continues to run the show…

  • Poppa999 says:

    Easy come, easy Gao eh?

  • mark says:

    Try putting thoughts and energy in supporting the club in the coming season is far more viable me think…..kro

  • alexjhurley says:

    Sorry Dan I’m also struggling to get me head round item 5. To my untrained eye it appears to give. Pp and cy the right to sell the club or bring in New shareholders unilaterally. Which seems a good thing to me. Am I missing the point or what?

  • bluenose 11 says:

    you cant just say i am very very worried and not explain why thats not fair to the people who read this blog and are maybe less informed than yourself for whatever reason to most of us bcfc is a very important part of our lives and some regard blues more of a religion and for someone whos opinion is respected to say something like that you will get others worried explain please

    • Louise says:

      If you read some of the blues forums, things may make a little more sense. I don’t think it’s OP not wanting to explain what he’s thinking, if you get what I mean!

  • Louise says:

    The “evidence” link isn’t working for me- has anyone else had problems viewing??

  • Marky mark says:

    Enough of all the scaremongary, buy your ST and support the club, these idiots will be gone soon enough, accept the fact that we are powerless to prevent anything Pannu had planned
    But there will always be a BCFC stop worrying and enjoy the ride.

    Lee Clarks blue white army

  • Tony says:

    Dont give Pannu a penny more of your money boycott all sales, mechandise, Also Dan can you confirm if Pannu could sell the ground I though hsbc had a retainer on it?.

  • prewarblue says:

    Dan ,,,mate,,,re your concerns regarding “Poison Pete”,,,,,,on past evidence of people disappearing before giving evidence against him ,,,,,,,he dont know your home address does he ?,,,,,I expect the bloke who voted against him to disappear from sight very soon if only for his own health

  • Tony says:

    The silence from Dan is deafening, can you not share your thoughts with us, you cant make a statement like you have and then just leave it.

  • KeepRightcroydOn says:

    All you guys who are suggesting Admin may be as solution, you do realise that if it happens before next season kicks off, the quoting points deduction will mean relegation to League 1, instead of Peterborough. Do you really want that?

    • Steve-0 says:

      Given that people are talking about boycotting games in order to deny revenue and force administration, I doubt anything will happen (assuming a plan like that could ever work) until next season is in full flow.

  • psmith says:

    As we are all chasing shadows and trying to make sense of rumours I wonder why there has not been an investigative press report on the BCFC shambles. Instead of meakly reporting on player movement, in and out, I would expect that any journalist with a nose for a story would have been keen on sharing his or her take on the suspicious going-on at our beloved club and perhaps advising us on the legal possibilities available. Perhaps the local press is also a suitable place to send a strong message from the supporters recording their anger and intentions if this farce continues.

  • Roy Smith says:

    Marky Mark. You remind me of those Germans who were still willing to fight for Hitler as Berlin was being destroyed around them. Sometimes you have to stop loyally following, say enough is enough and stop giving support to the people who are destroying the thing you love. Your blind support, irrespective of what the owners do, will only prolong the agony.

  • AF says:

    I think the future looks obvious. The club is not sold as the loss on the inital purchase is too great. The shares are relisted and new shares issued to Chinese investors, possibly venture capitalists. New investment leads to a promotion push with new funds. Once promotion is achieved the club benefits from Sky monies and Carson Yeung’s loans are repaid. At the same time the club can be sold to achieve a limited loss on the initial investment.

  • DoctorD says:

    Al – when those three directors were appointed four days ago, it said that they would

    “hold office until the next annual general meeting of the Company and will be subject to retirement by rotation and re-election in accordance with the Articles of Association of the Company.”

    I can only guess see two answers:

    1.The three guys opted to join in good faith before seeing the crap when they were at the AGM and just pulled out asap.

    2. It was a deliberate ploy by Pannu and Yeung to ensure that the there simply enough people in place to make sure the AGM resolutions could be passed officially. by having the requisite number of directors. In other words, they got enough bods in place to make the AGM above board – and then dispense with them out once the AGM resolutions had been passed.

  • bcfcjay says:

    you can support your club without supporting their pockets. Aslong as theres players that can be sold for decent money this will continue. Think about it sell a player for however many million or hundred thousand and replace him with a player already at the club through the youth system. We are the ones keeping yeung and co there by giving them our money. Its hard to say boycott the blues but unless we do this is just going to carry on.Support the birmingham city not the laundrette

  • DoctorD says:

    NB Regarding what resolutions 5A, B and C mean, I refer to what commenter David S said back on 3 April:
    DavidS says:
    April 3, 2013 at 9:04 am

    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!

  • sappy sad says:

    …………empires have fallen before ….as carson is very much aware of …….carson is a clever man that is why he is still in charge………but will he use his craft to make Birmingham city into a great club ,or will he fade away like yesterdays hair style ………will he end up just another loser or will he make the football world take notice ….we will soon see

  • Blueboy83 says:

    I really want to know how Peter Pannu has become all powerful despite, IMO, clearly having no clue how to run a business. On another note does the debenture that HSBC have against Stans prevent the sale of the gound?


  • kht says:

    Surely this is what rendered Mr Liu Xingcheng’s vote void…….

    (2) As at the date of the AGM,

    (b) No Shareholder was entitled to attend and vote only against the Resolutions at the AGM.

    How the feck can the board come up with such a “rule” for an AGM?

    How can they ban shareholders from voting against all the resolutions?

    The whole thing stinks to high heaven and anyone who continues to put their hard-earned in to the current Blues set-up is only helping to perpetuate this ongoing farce.

  • crotcher88 says:

    seems to me everything is sorted over there but nothing here i fear for our club more than ever they dont even tell the fans anything they dont even think about us i think they have never forgot mr sullivan and mr gold and they want there money back no matter what

  • Evesham Blue says:

    Chill your boots. It will all come out in the wash. If CY is found guilty that is another game changer! In the meantime all we can concentrate on now is building for next season which LC is doing. Selling players and cutting costs is a fact of life in the championship. Not a bad thing in the long run.

  • Paul Carter says:

    Hello Mr Billionaire who we want to come and take over the club welcome to BCFC. Yes we only get 10,000 home gates as all our loyal fans who went to Wembley and Europe have boycotted the club. Yes turnover has drastically reduced as we have had to make most of the back room staff redundant as the money into the club has reduced. Sorry about being bottom of the table but we are basically playing our youth team as we can’t afford a decent players wages never mind his signing fee.

    Rest assured though Mr Rich Man Saviour our fans are the best in the land with loyalty levels that are off the page. What? You’ve been reading the Internet and all they do is moan? Now we haven’t changed the club anthem to Keep Right On moaning, bitching and whinging.

    Hey, come back. Why are you going.

  • Pete says:

    I really appreciate all of the updates on here. But to be honest I am finding the whole matter utterely confusing. I dont understand it all. Dan, could you sum up what is happening and what your concerns are in laymens terms please? The picture is so muddy I cannot see anything clearly any longer. Thanks mate

  • Evesham Blue says:

    Just checked Tilton Strugglers blog and individuals who post on here are slagging off OP. Unreal. When are Blues fans going to unite instead of divide?

    • prewarblue says:

      having just visited the site you mention,,,,,,I can only agree with yourself,,,,,there is possibly only one good thing to come from those comments that I can see,,,,,a certain “”Voice of Reason”” will no longer be passing comment on THIS site due to the bias against his rabid unbalanced opinion shown by Dan in deleteing some and having the nerve to disagree with him,,,,,,,I do not always agree with Dan,s opinion and have said so,,,,however respect has been shown on both side [except in one area [lol],,,,,that person shows none whatso ever,,,,if you dont agree with him ,,,,,your wrong and not a Bluenose,,,,,

  • Paul Carter says:

    Dan, have just looked at Tilton Strugglers and someone using my name has posted a terrible slagging of you. Can you get you mate over there to check the IPs on that post cos you’ll find it ain’t one I use. If you find a matching IP for that post on here can you let me know who it is please.

    It can only be some sad feck from off here. I know who I think it is.

    Even if I thought that shit which was posted I’d say it on here not behind your back.

  • bluenoserob says:

    Dan , glad that my post got you thinking , its was somewhat tongue in cheek , but the sentiment behind it was sadly true.What was good to see was the up beat comments by so many others in reply , shows what spirit and love for the club that blues fans have.Shame that its back to more worrying news today , maybe its the feeling the things are going to get worse before they get better that makes it even harder to look forward to next season.

    Maybe we could have a day when only positive comments were allowed , like best memories of being a blues fans , i remember Dugary at his best what a player he was for those few games.oh and Jose running rings round defenders …happy days.

  • Tony says:

    Prewar Let us hope

  • mark says:

    Okay i switch the light back on great news
    Fl have awarded blues the family excellence award 2013…

    brilliant well done birmingham city football club

  • mark says:

    Hope all true blues will be filling the stadium with me for foot4harry……great cause…kro

  • Paul Carter says:

    Frankie Lampard :)

  • Chris Smith says:

    “No Shareholder was entitled to attend and vote only against the Resolutions at the AGM.”

    Am I missing something here…? This makes no sense to me. Unless all share holders hold less than 3,887,753,400 unless all shareholder hold less. If so, why would the boundary be so high?

    I am tired and worn up after being up all night, so excuse me if this has been answered already, I haven’t gone through all the comments.

  • tamuffblue says:

    Just like to say that I was on tiltonstrugglers and told the two kn*bs slagging OP to either do something constructive or shut the f*ck up – maybe shouldnt have as they are most probably Vilers and I rose to the bait KRO

  • prewarblue says:

    The lack of respect shown by Dan to me is regarding ,,,,,,K.R.O,,,,,,,he,s Often Partisan,,,,,,me ? I,m Off Ter Partisan,,,,,,opinion varies [but I know who,s right and who,s wrong lol ]

    • chas says:

      Prewar, I have just read the topics you mentioned on there..They are a disgrace..I would put a bet on a couple of posters, but it a right cowardley way to try to have a knock at someone..

  • chas says:

    oops, should have read ‘a bet on the names of a couple of posters’…

  • mark says:

    Bloody hell it come somethings if so – called fellow fans have to use another persons username to bring this great blog by dan into dispute. Dan you have done amazing work. These people attempt to character assassinate Paul carter are jokers of the highest order. If you have any creditabilty please ride into the sunset…….. Basically f**k off.

  • […] Cheung Shing and Gao Shi Kui have all returned to the board after having retired from it at the AGM on Friday. I have been advised that their retirements on Friday were down to procedural error in […]

  • The_Bear says:

    I was under the impression that the Blues Trust had found some shares so they could attend the AGM, is this not the case?

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