While Blues secured their Championship status for another year by winning away at Rotherham on Monday, Birmingham Sports Holdings have been doing what it can to secure its own financial status on the Hong Kong stock exchange.
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.
Dragon Villa will become the second biggest shareholder in Birmingham Sports Holdings (and thus by extension BCFC) once the share subscription announced on Thursday goes through. Their holding will take them above the 10% threshold that ensures that their owner Lei Sutong has to take the much-maligned Owners and Directors Test. Just who are these people?
I think it’s safe to say that the ownership situation at Birmingham City is still one of mystery to some people, judging by some of the questions I get asked via social media or email. With this in mind I wanted to put together an article answering the questions that get asked the most to help improve people’s understanding.
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.
The accounts for both Birmingham City and it’s UK parent Birmingham City PLC have been made available at Companies House this week. Both sets of accounts are essentially the same (as BCFC is 100% owned by BC PLC and it’s sole asset) and paint a stark picture of how much trouble BCFC would be without the investment of Trillion Trophy Asia.
A second defeat in two games for Birmingham City under Gianfranco Zola has magnified pressure on owners Trillion Trophy Asia. With the transfer window opening in a matter of days the onus is now on the Blues board to provide funding to reinvigorate the Blues squad.
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.