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SBD Global/July 8, 2014/Finance

West Brom Chairman Jeremy Peace Increases Stake In Club To 76.4%

EPL side West Brom Chair Jeremy Peace "has increased his majority stake in the club" to 76.4% with the purchase of a further 905 shares, according to Mike Dawes of the London DAILY MAIL. Peace, through his company West Bromwich Albion Holdings Ltd., last month made an offer of £3,000 ($5,100) per share to shareholders "in the hope of taking his holding over the legally-significant 75 percent-mark." The club has now announced that Peace, who had held 67%, has "surpassed that figure and he could yet increase his stake further." The initial deadline of July 3 for shareholders to respond to the tender offer "has been extended by two weeks." By owning more than three-quarters of the company, Peace "now has greater powers at The Hawthorns." Notably, he now "has the authority to call an extraordinary general meeting to make changes whereas he previously had to wait for an annual general meeting" (DAILY MAIL, 7/7).
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