The full text of the announcement is here.
As always seems the case in Hong Kong, Birmingham Sports Holdings need a bit more time to put together the paperwork required for shareholders for this proposed deal, and have stated it will be another month before they send this out.
The deal, which I spoke about in a previous article would see BSH invest in an office development in Cambodia, along with schools and other things. The deal would work by offering equity in exchange for the investment, which would in effect “reverse” the Cambodian company into BSH, potentially ensuring BSH can sell BCFC off without losing the listing.
Does this mean anything for Blues?
The only thing that it does is delays for another month any reveal of the identity of the owners of GRED – who would (once the deal is completed) become, at least for a while, part owners of BCFC.
However, as I have stated before, I do not think that is overly relevant as I think we’re heading towards the date whereby the club and the listing are separated.