"I have acquired additional shares in WBAH at pounds 80 per share and under the Takeover Code, because of the size of my pre-existing shareholding, my purchase has triggered a requirement to make cash offers based on the same price for the outstanding shares in both WBAH and West Bromwich Albion Ltd," Peace said in a statement.
"WBAH has a large number of small shareholders who have had no formal mechanism to realise value for their shares following the closure of the share-dealing facility in December 2006.