HKSE Complaint – Part 2

Last year, 1875 organised a mass email to the Hong Kong Stock Exchange in an attempt to force them to look further into the business dealings of Birmingham Sports Holdings. Since then, things have not got any better – and we feel that once again, we need to push for the HKSE to suspend trading in BSH shares in an attempt to force change at ownership level.

To do this, it’s imperative that we have a cast iron specific reason for them to suspend trading. The HKSE will not do anything unless a rule has been broken.

On Friday evening in an pre-recorded interview broadcast on Radio WM, Ren Xuandong twice made mention that the club was forecasted to book a £6.7million loss for this season.

This data is market sensitive, as no accounts have been released for this year by BSH, while the club accounts for last season have not been released yet which would also contain some forecasted data.

With this in mind, we’ve templated an email (see below) to be sent to

All anyone needs to do is to send it to that address, to title the email “Birmingham Sports Holdings Stock Code 02309” and to add their name, address and phone numbers to the bottom of the email. This is the required format for enquiries to HKSE.

Should trading in BSH shares be suspended, it makes it difficult for the main investors to either raise money to put into the company or make profits off the value of the shares. As we found out during the suspension following Peter Pannu’s indiscreet comments, it also invites further questions from HKSE and other regulatory bodies into the way the company is run.

There is no denial that his may cause some real short term pain to the club; however, we feel that there is little other option now.


Subject: Birmingham Sports Holdings Stock Code 02309

Dear Sir

I write in relation to Birmingham Sports Holdings Ltd who are listed on the main board with the stock code 02309.

I wish to draw your attention to a public interview given by Ren Xuandong, who is Chief Executive Officer of Birmingham City Football Club plc, a subsidiary of Birmingham Sports Holdings.

The interview was broadcast on Radio WM, a local radio station serving Birmingham owned by the BBC and is found online at the following URL

In the interview, Mr Ren twice makes the clear statement that the football club is forecasting a loss of GBP6.7M for the year ending June 30, 2021.

I’m concerned this market sensitive data has been made public prior to the announcement of the interim accounts for the period ending December 31, 2020. It is especially concerning when considering BSH have announced to shareholders that the group expected to make a profit in these interim accounts.

While I accept that BSH has more businesses than just the BCFC subsidiary, it’s worth noting that the football club has made in excess of 90% of the group turnover since the shares were listed for trading in 2016.

My details are as follows:

[phone number]

Kind regards

© 1875