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.
The fallout surrounding the controversial sacking of Gary Rowett by Birmingham City’s owners Trillion Trophy Asia seems no sign of abating four days on. Two late goals turning a winning position to a last-minute defeat to Brighton in Gianfranco Zola’s first game in charge hasn’t helped matters as the club tries to calm the emotional outpouring on social media.
Birmingham City announced today that Gary Rowett was to depart the club with immediate effect along with his backroom staff. The board confirmed in it’s statement that it’s not been an easy decision to make, and that TTA were looking to take Blues forward into a bright and exciting future.
It’s now been just over a week since Birmingham City was taken over by Paul Suen Cho Hung and his Trillion Trophy Asia investment vehicle. It’s the start of a new era – but here’s a question for you. How much did Paul Suen exactly pay?
On Monday October 17, at 9am Hong Kong time a minor stock on the main board of the Stock Exchange of Hong Kong will resume trading in it’s shares. It’s an anti-climactic end to five and a half years of turbulence but that simple act will mark the end of the Carson Yeung era for Birmingham City with the “Penny Stock King” Paul Suen becoming the single largest shareholder in the holding company.