Lloyd Dyer: Birmingham City sign winger from Watford on loan

Lloyd Dyer scored 39 goals in 267 games in his six seasons with Leicester City

Birmingham City have signed Lloyd Dyer on loan from fellow Championship club Watford until the end of the season.

The 32-year-old winger, who started his career with West Bromwich Albion, spent the last six seasons at Leicester City before moving to Watford in June.

He scored three goals in his first five games for the Hornets, but has not featured since Christmas.

Dyer will be eligible to make his Blues debut against Albion in Saturday's FA Cup fourth round tie at St Andrew's.

He is the third signing made by Blues boss Gary Rowett since his appointment in October.

Apart from bringing in centre-half Michael Morrison from Charlton Athletic, initially on loan, he also re-signed striker Nikola Zigic on a short-term deal until the end of the season.

Birmingham have risen from 23rd to 11th in the Championship table since Rowett took charge.

Following Saturday's 1-1 draw at Leeds, they are just nine points off the play-off places with 20 games remaining.

Meanwhile, Blues still face concerns off the field, following a report from the Hong Kong Stock Exchange regarding the club's holding company, Birmingham International Holdings Limited (BIHL).

BIHL have released a statement saying that they believe a former employee may have "misappropriated" £2.5m - and that they have reported the matter to the Hong Kong police.

The statement says that the loss "may have a material impact on the operation and financial situation of the Group", and are also concerned that the matter was apparently missed by auditors.

Shares in the company were suspended six weeks ago.