Shelby Companies Limited signed a letter of intent to acquire 45.64% stake in Birmingham City PLC from Birmingham Sports Holdings Limited (SEHK:2309) on April 12, 2023.The consideration of the First Potential Transaction, which remains subject to agreement of the Company and the Purchaser, will comprise a cash payment and a bonus if Birmingham City Football Club PLC (the “Club”) qualifies for promotion to the English Premier League. Management, financing and other arrangements of the Club following the completion of the Potential Transactions will be set out in the definitive agreements in respect of the Potential Transactions (the “Definitive Agreements”).Shelby Companies Limited entered into an agreement to acquire 45.64% stake in Birmingham City PLC from Birmingham Sports Holdings Limited (SEHK:2309) on May 7, 2023. The deal is subject to approval from both the English Football League (EFL) and the Hong Kong Stock Exchange, meaning the club will remain under the control of the current board until the relevant owners and directors tests and contracts are completed. Birmingham City PLC reported revenue of £18.1 million and loss after taxation of £25 million and net liabilities of £112.4 million for the year ended June 30, 2022. As of June 7, 2023. Knighthead Capital Management, LLC is pleased to announce that Shelby Companies Limited has been approved by the Barclays Women's Super League and Barclays Women's Championship Board to acquire Birmingham City Women F.C. As of July 13, 2023, new Board for Birmingham City Plc has been appointed. The new Board members are Thomas Wagner, Matthew Alvarez, Andrew Shannahan, Kyle Kneisly, Laura Torrado, Wenqing Zhao, and Gannan Zheng.

Shelby Companies Limited completed the acquisition of 45.64% stake in Birmingham City PLC from Birmingham Sports Holdings Limited (SEHK:2309) on July 13, 2023.