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Yeung's plan foiled

21 February 2008 - 23:35

Birmingham City shareholder Carson Yeung's plan to elect Steve McManaman and Fan Zhiyi to the board of directors has failed. GrandTop International Holdings wanted the two on board to help his potential takeover bid.

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The Hong Kong businessman owns 29.9 per cent of the club's shares but angered existing co-owners David Gold and David Sullivan when his proposed takeover at St Andrew's failed to materialise late last year.



Earlier in the week, Sullivan and Gold strengthened their positions after increasing their stakes in the club and managing director Karren Brady had recommended to shareholders they reject the bid by Yeung.



"Birmingham City PLC announces that, at the Annual General Meeting held on 20 February 2008, all the resolutions proposed were duly passed," read a statement released to the Stock Exchange.

Written by majicka