West Bromwich Albion Holdings Ltd (‘WBAH’), which is owned by Club Chairman Jeremy Peace, has today (June 10, 2014) issued a tender document as it offers to acquire up to a further 770 ordinary shares in West Bromwich Albion Group Ltd (‘WBAG’).
WBAH recently acquired a further seven per cent of WBAG, bringing its total stake up to approximately 67 per cent.
Following the completion of the 2013/14 campaign, WBAH believes it is fair to offer shareholders the opportunity to sell their shares at the same price of £3,000 per ordinary share if they so wish, which may result in WBAH acquiring up to a further eight per cent of WBAG. This would see WBAH’s shareholding rise to just over 75 per cent of WBAG.
The Chairman’s majority shareholding in WBAG was transferred a year ago to a new company, WBAH, which is now the ultimate parent company of the West Bromwich Albion group of companies.
The tender offer will close on July 3 at 3pm but this deadline may be extended by WBAH by a further 14 days.
WBAH also has the option to acquire further shares ('Excess Shares') should these be tendered by shareholders.