Time running out for West Brom shareholders to decide
West Bromwich Albion shareholders have been urged to decide quickly on whether to take up the share offer by WBA Group, reports the Birmingham Mail.
Shareholders For Albion (S4A) are concerned that many members have yet to act on the offer of the new company set up by Baggies chairman Jeremy Peace.
All stakeholders must decide whether to accept the company offer of £1,200 for each share, keep a share in the new company – which will also net the shareholder a £100 sweetener – or simply not declare their intention and allow their current share to be compulsorily bought by the WBA Group.
Neil Reynolds, S4A chairman, said: “As of the closing date on August 9, shareholders representing about 90.5 per cent of the shares had either decided to swap their share in WBA Holdings for one in WBA Group or to accept the company’s offer of £1,200 for each share.
“If the rest don’t act by the deadline – which we think is about mid-September – their shares will be compulsorily purchased by WBA Group.”