West Brom chairman Jeremey Peace in shares plan
Thursday 29th September 2011, 12:29PM BST.
Jeremy Peace today launched a bid to increase his controlling stake in West Brom to 65 per cent by offering to buy up to 500 more shares.
The Baggies chairman, who already owns around 60 per cent of the club’s parent company, hopes to boost his shareholding further by offering up to £1,500 per share.
But a spokesman for the club’s small shareholders today claimed the offer, which values the company at a maximum of £15m, was too low and predicted most fans would keep their shares.
Peace said: “I have made the tender offer to all shareholders with a view to taking my shareholding in West Bromwich Albion Group Limited to approximately 65 per cent. I have written to all shareholders with a full explanation about the offer, which is not compulsory. It is entirely down to the discretion of each shareholder whether they wish to sell or not.”
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