SHA Small Heath Alliance

Two consecutive days of share price rises have pushed the stock market capitalisation of Birmingham Sports Holdings to 378M as of close of play on Friday. It seems an insanely high figure for a company which makes the majority of its revenue via Blues. In todays piece Ive taken a deep dive into just

[almajir.net]

As ever great research 👍

But boy oh boy, what a tangled web.

Nice piece Dan and thanks again for your hard work in putting this information together.

It appears that BSH are successfully growing a portfolio of companies and diversifying revenue away from a reliance on BCFC. If this continues there will come a point where BSH don't need BCFC to maintain their listing and that might be when the music stops right?

Slightly Turbid

Nice piece Dan and thanks again for your hard work in putting this information together.

It appears that BSH are successfully growing a portfolio of companies and diversifying revenue away from a reliance on BCFC. If this continues there will come a point where BSH don't need BCFC to maintain their listing and that might be when the music stops right?

I summed up my thoughts on that in the last few paragraphs

That's all very well and good but it still doesn't answer the question of how we get rid of TTA!

Slightly Turbid

That's all very well and good but it still doesn't answer the question of how we get rid of TTA!

TTA aren't the problem though, they have sidelined for some time.

El Mayor

Slightly Turbid

That's all very well and good but it still doesn't answer the question of how we get rid of TTA!

TTA aren't the problem though, they have sidelined for some time.

Yes, I know, it was a joke (or it was meant to be!)

Slightly Turbid

El Mayor

Slightly Turbid

That's all very well and good but it still doesn't answer the question of how we get rid of TTA!

TTA aren't the problem though, they have sidelined for some time.

Yes, I know, it was a joke (or it was meant to be!)

Sorry, my bad. In my defence I've not 100% woken up yet.

El Mayor

Slightly Turbid

Nice piece Dan and thanks again for your hard work in putting this information together.

It appears that BSH are successfully growing a portfolio of companies and diversifying revenue away from a reliance on BCFC. If this continues there will come a point where BSH don't need BCFC to maintain their listing and that might be when the music stops right?

I summed up my thoughts on that in the last few paragraphs

It all sounds like out of the frying pan into the fire !!.... I get that in reality for us to ever come under what can best be coined ‘traditional ownership’ we would in all likelihood need BCFC sliced out of BSH, however at least with it being a listed HKSE company there is some form of external governance on its financial matters...... Being run by a clandestine Cambodian operation as an alternative hardly has me dancing for joy !!

Great piece btw 👍

I'm not sure how to take this. One minute it suggests the club could eventually be sold as some sort of positive spin, then suggest we'd end up right back in chinese-cambodian hands.

Is this supposed to be a positive piece, or is it a deliberate chip-pisser?

I'll turn 40 before blues are out of chinese hands... mark my words.

Intersting Zac Karlaftis name is mentioned again.

Did we ever find out why their plans to take the Macarthur A-League slot failed or was it a complete non-starter from the get go?

StechyBlue

I'm not sure how to take this. One minute it suggests the club could eventually be sold as some sort of positive spin, then suggest we'd end up right back in chinese-cambodian hands.

Is this supposed to be a positive piece, or is it a deliberate chip-pisser?

I'll turn 40 before blues are out of chinese hands... mark my words.

It’s up to you whether you think it’s positive or negative.

321ByelzdarB

Intersting Zac Karlaftis name is mentioned again.

Did we ever find out why their plans to take the Macarthur A-League slot failed or was it a complete non-starter from the get go?

Non-starter. Fell apart quickly apparently

Just a thought on that last section then, are you saying that as the Chinese government are telling peoplve to divest away from football, we will potentially be sold to ORI- i.e. a Cambodian business.

Does this sale mean we'd come off the stock exchange because BSH would still be able to retain their listing due to other businesses generating enough revenue.

My questions are then:

- Are ORI on the HKSE?
- If they bought Blues, could they get on the HKSE?
- If the above two answers are no, then it could be a positive step that ORI own us as if we do find ourselves in an administration/receivers situation, there wouldn't be a requirement to retain a share listing and we could be sold to anyone, rather than someone who wants to stay on the HKSE?

Cheers

Nikola Zigic

Just a thought on that last section then, are you saying that as the Chinese government are telling peoplve to divest away from football, we will potentially be sold to ORI- i.e. a Cambodian business.

Does this sale mean we'd come off the stock exchange because BSH would still be able to retain their listing due to other businesses generating enough revenue.

My questions are then:

- Are ORI on the HKSE?
- If they bought Blues, could they get on the HKSE?
- If the above two answers are no, then it could be a positive step that ORI own us as if we do find ourselves in an administration/receivers situation, there wouldn't be a requirement to retain a share listing and we could be sold to anyone, rather than someone who wants to stay on the HKSE?

Cheers

Right

Firstly - I'm going by stuff like this [twitter.com] which has been circulating for some time.

Does this sale mean we'd come off the stock exchange because BSH would still be able to retain their listing due to other businesses generating enough revenue.

Think about it logically. BSH have sold 21.64% of the club, so that's a portion of revenue they are not receiving from it. Meanwhile, they've invested in a fourth segment (the Japanese medical business), so the balance of football revenue vs non football revenue is slowly tipping

- Are ORI on the HKSE?

No, they're not. They're a BVI Investment vehicle owned by Vong Pech, who is Chinese-Cambodian. However, there are undisputable King connections [almajir.net]

- If they bought Blues, could they get on the HKSE?

Why would they want to? The listing is separated, they don't need it for that.

- If the above two answers are no, then it could be a positive step that ORI own us as if we do find ourselves in an administration/receivers situation, there wouldn't be a requirement to retain a share listing and we could be sold to anyone, rather than someone who wants to stay on the HKSE?

Yes, if we got bought out by ORI, we could then be put into admin and be bought by anyone. However, take a look at Wigan before wishing for that cos this is EXACTLY what has happened to them.