Just prior to announcing their interim results on Thursday, Birmingham Sports Holdings also announced a rights issue in an attempt to raise HK$297.7million. The purpose of the rights issue is to reduce the frightening levels of borrowing within the company and to provide more working capital to keep the company going.
Announcements were made by both Birmingham City FC and Birmingham Sports Holdings today that have financial ramifications for the immediate future of the football club. BCFC confirmed that they have sold naming rights to both St Andrew’s and the Wast Hills training complex while BSH have confirmed another share subscription deal that sees Dragon Villa become their second biggest shareholder.
When Trillion Trophy Asia owner Paul Suen Cho-hung finally took control of Birmingham Sports Holdings in October 2016, he committed to not selling his stake in the holding company for a two-year period. With that period elapsing in less than six months, what does the future hold for BSH?
Birmingham Sports Holdings today made an announcement to the stock exchange of Hong Kong clarifying the recent investments made by Chigwell Holdings and Dragon Villa. In what was an extraordinarily detailed announcement, it was confirmed money loaned by those two companies was used to finance the football club.
Birmingham Sports Holdings have today announced that they are to buy a company in Cambodia. The investment will see BSH own a stake in a mixed office and residential development along with building an international school. Furthermore, the investment will see a new company own a substantial stake in BSH and by extension BCFC.
Birmingham International Holdings today made an announcement to the Stock Exchange of Hong Kong to confirm that they are proposing to change the name of the company. The proposal will require the approval of shareholders at an EGM.
The Birmingham Mail published an article today about the relative wealth of the Chinese owners of the four west midlands clubs. All four featured in the Birmingham Post Rich List which calculates the net wealth of people connected to the West Midlands.
Birmingham International Holdings have announced to the Hong Kong Stock Exchange the results of their AGM held today in Wanchai.
Birmingham International Holdings today announced to the stock exchange that an agreement has been reached with majority shareholder Trillion Trophy Asia for a HK$250million (approx £26million) loan facility.