In the second of my series of reports from what I learned in Phnom Penh, I want to talk about the businesses Vong Pech owns. One of them, Graticity Real Estate Development Ltd own a stake in Birmingham Sports Holdings and provide one of the streams of revenue that the Hong Kong listed company have that isn’t Blues. The big question is though how much money is coming in from Cambodia – and will it ever be enough to potentially help release BCFC from its Hong Kong parent.
Last month I wrote about the family connections between the elusive Mr King, Wang Yaohui and Vong Pech, who has the largest financial interest in Birmingham City. Feedback from that article suggests there is still some confusion as to just who this Mr King guy is, and why I’ve dedicated so much of my time to uncovering connections between him and the titular shareholders of Birmingham Sports Holding. In this article I’m hoping to rectify that somewhat.
The recent partial sale of Birmingham City to investment vehicle Oriental Rainbow Investments along with the recent share subscription completed by Birmingham Sports Holdings has complicated the question of who actually owns the club a little bit further. As the structure of the ownership of the club becomes more Byzantine, it’s become increasingly difficult for fans to understand.
On Monday Birmingham International Holdings finally announced to the Stock Exchange of Hong Kong details of their delayed EGM to approve the second part of a investment deal into Cambodian property. If approved by shareholders, the deal will see another 832million shares in the company created and reinstate Vong Pech as second largest shareholder in the company.
In November 2017 Vong Pech became the second largest shareholder in Birmingham Sports Holdings when it was agreed by BSH shareholders to go ahead with the proposed school and office project in Cambodia.
Birmingham Sports Holdings have today confirmed in an announcement to the stock exchange that the major transactions to purchase property along with construction of commercial and educational facilities in Cambodia is now complete.
Birmingham Sports Holdings have today confirmed to the Stock Exchange of Hong Kong that shareholder approval has been granted for the proposed Cambodia deal at today’s Extraordinary General Meeting.
Birmingham Sports Holdings have confirmed in a set of announcements to the Stock Exchange of Hong Kong that there will be an EGM held on Friday 17 November to acquire shareholder approval for the previously mentioned Cambodia deal.
Birmingham Sports Holdings have confirmed yesterday that there will be a delay before they hold an EGM to approve a proposed deal for the company to invest in a Cambodian company.
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.