logo100x100On 10th April the Trust posted an article giving an update on Disclosures of Interest made by shareholders in Birmingham International Holdings Limited (BIHL) to the Hong Kong Stock Exchange. We explained that there had been some positive developments in that some of the concerns raised in our earlier letter to the Securities and Futures Commission (SFC) in Hong Kong appear to have been addressed through new or revised disclosure notices. We also noted that there appear to be some significant errors in Carson Yeung’s recent disclosure notice and that we are still waiting for Wang Lei to submit a revised disclosure notice to correct what appear to be some inconsistencies with other information.

The Trust has now written to Securities and Futures Commission again, drawing attention to disclosure notices in respect of shareholders Carson Yeung and Wang Lei which we believe may contain some significant errors, giving a misleading and inaccurate picture of BIHL shareholdings. In the attachment to the letter we have spelt out in fine detail our concerns with disclosures by these shareholders. As previously, we have asked the SFC to investigate the matters we raise in the letter. You can read the full text of the letter and attachment here.

We hope that our letter will prompt the submission of accurate disclosure notices by Carson Yeung and Wang Lei, the two largest shareholders in BIHL and the club, replacing the existing notices which appear to give a misleading picture of holding company and club ownership.

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