kropotkin56
09-01-2014, 08:47 PM
David Conn, in today's Guardian:
The Birmingham City director Peter Pannu was paid nearly A?1m in 2012-13, a year in which the club lost A?4m and sank into a perilous financial situation which continues to threaten its solvency.
Appointed a director in September 2012 of the club's holding company, Birmingham International Holdings, registered in the Cayman Islands tax haven and listed on the Hong Kong Stock Exchange, Pannu was paid a salary of HK$6.7m (A?525,073) for the nine months to 30 June 2013.
In addition Pannu's company, Asia Rays Limited, registered in Hong Kong, was paid HK$5.9m (A?464,569) for consultancy services to BIHL, whose overwhelmingly main business is owning Birmingham City.
This figure of close to A?1m follows more than A?1m paid to Pannu the previous year, also in the form of a salary and consultancy fees to Asia Rays.
Pannu declined to answer questions from the Guardian about City's financial situation as disclosed in accounts for the club and holding company
The Birmingham City director Peter Pannu was paid nearly A?1m in 2012-13, a year in which the club lost A?4m and sank into a perilous financial situation which continues to threaten its solvency.
Appointed a director in September 2012 of the club's holding company, Birmingham International Holdings, registered in the Cayman Islands tax haven and listed on the Hong Kong Stock Exchange, Pannu was paid a salary of HK$6.7m (A?525,073) for the nine months to 30 June 2013.
In addition Pannu's company, Asia Rays Limited, registered in Hong Kong, was paid HK$5.9m (A?464,569) for consultancy services to BIHL, whose overwhelmingly main business is owning Birmingham City.
This figure of close to A?1m follows more than A?1m paid to Pannu the previous year, also in the form of a salary and consultancy fees to Asia Rays.
Pannu declined to answer questions from the Guardian about City's financial situation as disclosed in accounts for the club and holding company