ChampionshipBirmingham City acting chairman Peter Pannu says approval of their parent company's accounts in Hong Kong may speed up the club's proposed sale. The long-awaited financial results for the year to 30 June 2011 were approved on Friday at Birmingham International Holdings Ltd's annual general meeting.

"I'm glad the past outstanding accounts have been passed through," said Pannu.

"This is a milestone and a pre-condition if we were to sell the football club, if appropriate."

"It is a step towards the resumption of the trading of BIHL's stocks on the Hong Kong Stock Exchange, which had been suspended for some time.

"Now we need to move ahead and prepare for the sale of the club, if the terms are right, and also to prepare for the next season in the interim.

"The results of the AGM are encouraging for me and my staff here in Hong Kong and in the UK and it shows that our work, under very trying circumstances, over the past two years has been acknowledged by the voting shareholders who effectively own the parent company and the club."