Birmingham proposal rejected
Birmingham City's shareholders have rejected Carson Yeung's proposal to co-opt Steve McManaman and Fan Zhiyi onto the board of directors.
The proposal was heard at an extraordinary general meeting of the club at St Andrews.
Hong Kong businessman Yeung, who holds a 29.9 per cent stake in the club, wanted to elect former players McManaman and Fan to act as his UK representatives via his company Grandtop International Holdings.
But managing director Karren Brady recommended to shareholders they reject the bid by Yeung, who had upset chairman David Gold and co-owner David Sullivan by failing to complete his takeover after buying an initial 29.9 per cent stake.
In reality, the proposal was already doomed to failure as Sullivan and Gold have increased their shareholding in Birmingham to nearly 50 per cent.
A statement released to the stock exchange said: "Birmingham City PLC announces that, at the Annual General Meeting held on 20 February 2008, all the resolutions proposed were duly passed. At the subsequent Extraordinary General Meeting to elect two directors proposed by GrandTop International Holdings Limited, the resolutions were not passed."
© Independent Television News Limited 2008. All rights reserved.
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