Often Partisan

Directorial Hokey Cokey at BIH

Birmingham International Holdings have today announced the reappointment of three executive directors and one independent non-executive director along with the resignation of an INED.

Charlie Penn, Chen Liang, 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 their appointment as they were wrongly appointed after the announcement of the AGM . You can find details on Charlie Penn here and on Chen Liang, Cheung Shing and Gao Shi Kui here.

The announcement also confirms the retirement from the board of Raymond Yau, who was an independent non-executive director and chair of the Audit, Remuneration and Nomination committees. Yau had only been marginally successful in being re-elected on Friday amid rumours that Carson had voted against him. Yau’s resignation means Carson Wong will now head up the aforementioned committees.

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38 Responses to “Directorial Hokey Cokey at BIH”

  • BND says:

    Its hard to keep track of what is going on and fully understand the implications for Blues.
    All i can get a handle on is that all the financial reports are now up to date allowing the club to be sold.
    Is that correct?
    KRO

    • almajir says:

      The accounts are up to date, correct.

      However, I have had no definitive answer if the shares need to be relisted for a sale, and I note that despite saying the outcome of the corporate governance review would come out around a month ago nothing has happened on that front…

      • Mortonsblue says:

        I guess they are hoping the shares are not relisted as the value of the club would surely plummet at a rate not seen since the ‘Wall St crash’ maybe then PP and CY will throw themselves from the nearest skyscraper!

  • chatts-blue says:

    Hi, First time post on here after a year or 2 of following.
    Does this mean the AGM was NOT the farce/as bad as it appeared?

    • almajir says:

      I think it shows PP’s continuing strength, plus the poor corporate governance. To have three directors appointed, retired and re-appointed within a week is a farce in my book.

      • Bluenosesol says:

        PP appears to be delighted with the outcome of the AGM….

        http://www.bbc.co.uk/sport/0/football/22511072

        I would be very interested to see the output of what Pannu is referring to :-
        “The AGM was also an opportunity which many local media took and the floor was opened up for a question and answer session where there were a free flow of exchanges on a range of topics”

        KRO

        • Oldbluenose says:

          sol;, The ” good ” and the ” bad “, about that piece is,

          Good;, National coverage of our plight, ?.

          Bad;, Makes, P,P. look like a ” GOOD-EGG “, With concern for the fate of our club, ???.

          • Bluenosesol says:

            OBN, the only time the national press will be genuinallay interested in our club, will be when we announce we are in admin and even that will be overlooked if somebody breaks wind in Man U or Arsenal!!

      • OzzyBlue says:

        And like all farce, it smells terribly.
        Someone is having a sick joke on the corporate regulators and playing them like guitars.

  • blueb says:

    Does this throw any shadow over the outcome from the AGM?

  • Oldbluenose says:

    Almajir;, Your surmation of the re-election of the 3, makes sense, — But it does make one worry about the organisation, [? ], of B,I,H. When they cannot get even protcol correct 1st, time around, !!.

    • KeeprightCroydON says:

      This is exactly the type of thing that has always got me wondering just how competent this lot are as businessmen. Like saying last summer it would take an “eye-popping offer”, ie significantly more than the £6m Southampton offered, to prize Butland away, when they must have known (or should have known) from projected revenue streams that the club would be in a weaker bargaining position in January. Naive at best.

  • Mortonsblue says:

    I see that the propaganda machine that is bcfc.com is in full swing, with Pannu telling us how we were all wrong and that the shareholder voting proves what a wonderful man he is! Interesting that directors were removed for allegedly not attending board meetings, presumably Pannu will remove himself now as he hasn’t been seen in the UK for almost a year, and I assume he won’t need the £250k pocket expenses for his staff coming backwards and forwards this year.
    One can only think that Raymond Yau didn’t give Pannu a big enough pay rise so was unceremoniously replaced by one of Carson’s yes men, who will.

  • Blueboy 88 says:

    The whole thing Penn & inks….

  • sappy sad says:

    ………………can we please get this club sold now before the farce of the last couple of years bites back like a scorpion stinging its own head………….

  • prewarblue says:

    And to this bunch of clowns we are expected to entrust our club with out protest ? they cant even follow their own procedures let alone rules

  • Mickey07 says:

    Farce,comical,pathetic,sad,ridiculous, a massive piss take (and we all know it) Peter pannu has us all by the bollox and it seems he is tightening his grip each and everyday,just out and out thiefs and crooks running this club and they are robbing us in broad daylight,there is jackshite anything we can do (apart from boycott)…..it’s will be worse than the wheldon days what’s coming to us,two years of this with these clowns….

  • ITK says:

    Have been hearing rumours that the £8m parachute payment the club was supposed to get in August has already been ‘used’. Have you heard anything similar almajir?

    • chris says:

      I doubt it without some statement form the Football League etc.
      They only did this for Portsmouth after much wrangling and i think (i’m probably wrong) it was after they had entered administration and couldn’t make football debts.
      I think they would only bring forward the payment for football debts / wages.

  • thongs says:

    I’m lost for words. And embarrassed.

  • andybluenose says:

    thought these were running a football club lol coul,nt run a poppy show

  • DoctorD says:

    That’s a relief – at least it got sorted.

  • Tony says:

    Are there still people who want to continue funding these bloodsucking clowns?.

    • Art Watson says:

      Yes there are and it’s about personal choice.

      I have decided not to renew my grand children’s season tickets until we have new owners.

      The current owners are an absolute disgrace and I have know doubt they will continue to fleece the club until the money runs out.

      In my opinion it’s the only thing the fans can control and hopefully the board will get the message and clear off.

  • Tony says:

    Dan further guidance on admin please, does it have to be the owners taking action?, is it possible the FA Could look at this farce and think enough is enough and they take some kind of action.

    • almajir says:

      Okay

      1) the governing body in this instance is the Football League, not the FA. They could ask questions but without hard evidence of wrong doing (and I mean stuff that will stand up in a court of law) they aren’t going to do much. They certainly couldn’t put us into administration.

      2) only two sets of people can put us into admin. The first would be people the club owe money to – which is Carson and BIH (and the last thing they would want is admin) or the Bank (who would be very reluctant to do so). The second would be the directors – see above.

      Tony, I’ve written a ream on this before, right here.

  • StevieW says:

    We are well up the creek without a paddle, it looks like PP and CY have the whole thing sown up. No matter which way you turn they are both there to greet you.

    So they are staying as owners and Blues will continue to shrink in both cash and quality.

  • DoctorD says:

    I’m not really sure what more CY and PP can do in the current circumstance. Offload the big earners. Focus on youth. Let Lee Clark get on with the job. Get the accounts out and look for buyers. Calling them bloodsuckers isn’t going to get us anywhere. Yes it looks dodgy about PP’s consultancy fee and communications are terrible, but as I have said many times before, the big problem is the financial disruption caused whenever a club gets relegated from the Premiership. I’m not blinkered, just realistic.

  • trueblue says:

    What topics were raised from the floor at the AGM and what answers were given?

  • Tony says:

    Many thanks Dan will read as you sugest

  • DjjC1985 says:

    http://twohundredpercent.net/?p=23068 gd read lads explain Peter pans statement quite well

  • Clive says:

    I agree PP obvolsy lacks the knowledge/skills when it comes to procedures at board level but i am happier with the fact that the 3 new directors where not just elected for one week to carry the balance of power at AGM.as was suggested folowing thier Friday resignation..
    Still struggling to understand why 3 apparantly respectable succesful mainland chinese businesmen who have worked in the oil industry (so its a fair assumption that they know each othe) would join a ailing company such as BHL with the chairman in court on ML charges .
    Any thoughts OP .?

  • mark says:

    Sorry dan my concern is more the hokey cokey fanbase…….


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