Hong Kong trading in Birmingham City holdings company suspended after online tirade by director
Trading in HK-listed holdings company for Birmingham City FC suspended following tirade on supporters' website by director
Trading in the Hong Kong-listed Birmingham International, the company that controls Birmingham City Football Club in Britain, was halted yesterday following an online tirade by the club's director, Hong Kong businessman Peter Pannu.
Pannu, right-hand man of the club's former boss and convicted money launderer Carson Yeung Ka-sing, stoked controversy this week after suggesting the soccer club could run out of money by next month because of a £1.8 million (HK$21.8 million) tax bill.
Pannu's rants, in web postings running to more than 1,000 words, also suggested attempts to sell the club had failed and that it would be "forever" stuck with the embattled Hong Kong-registered holdings company.
The posts sparked concern among fans and investors and prompted the club on Wednesday to put out an official statement categorically refuting the bankruptcy allegations made by Pannu, a former Hong Kong policeman.
However, Birmingham International announced yesterday that its shares were suspended at 10.21am "pending the release of a clarification announcement of the company".
According to sources close to the matter, Hong Kong Exchanges and Clearing has been in close contact with the company following Pannu's remarks.