Yeung Closing In On Birmingham Takeover

Hong Kong businessman Carson Yeung is edging closer to a full takeover of
Birmingham City after becoming the club’s largest single shareholder in buying
up a 29.9% stake.

The purchase, which is worth close to £15m, is likely to lead to a full
takeover with Yeung only needing to take his holding to 30% to activate a bid
for total control of the club.

Yeung, who had paid a non-refundable deposit of £1.09m on 27th June in
anticipation of the deal, has bought shares from directors David and Ralph Gold,
David Sullivan, Karren Brady and Roger Bannister.

In the new arrangement the stakes of the Gold brothers and Sullivan have
fallen to 23.22% each with Brady’s revised holding set at 0.54% and Bannister
retaining 0.11%.