sport

Peace adds to West Brom stake

West Brom chairman Jeremy Peace has taken his stake in the Premier League club above the legally-significant 75 per cent mark.

Peace has purchased a further 905 shares in The Hawthorns club and now owns a majority stake of 76.4%.

Through his company West Bromwich Albion Holdings Ltd, last month Peace made an offer of 3,000 per share in the hope of taking his share above three-quarters.

And the club has now announced Peace, who previously held a 67% share, has surpassed that figure and could yet increase it further.

The initial deadline of July 3 for shareholders to respond to the tender offer has been extended by two weeks.

Peace now has greater powers at The Hawthorns, most notably the authority to call an Extraordinary General Meeting to make changes - previously he would have had to wait for an Annual General Meeting.

A statement from the club read: "On June 10, 2014, WBAH issued a tender document as it offered to acquire up to a further 770 ordinary shares in West Bromwich Albion Group Ltd ('WBAG') at 3,000 per ordinary share.

"At the first closing date of July 3, 2014, 130 shareholders, representing 905 shares, had submitted tender forms accepting the offer.

"WBAH has exercised its discretion to buy all 905 shares, taking its total stake in WBAG to 76.4 per cent.

"WBAH has now extended its tender offer until July 17, at 3pm, and will exercise its option to acquire further shares at its discretion."