Share price diving

12 June 2003

The price of West Bromwich Albion shares on the open stock market appears to have been dropping for the past week. Currently, the mid-price is being quoted at £41, with shares being bought by brokers for £37 and sold for £45.

This could spell bad news for Chairman Jeremy Peace, who is currently attempting to sell the additional shares he bought under Rule 9 of the City Code. Existing shareholders have received letters offering them a minimum of five shares at £55 each, including all dealing costs. But five shares on the open market would come to only £225 at today's price, and even with dealing costs and stamp duty they'd be pressed to reach the £275 that Peace is asking.

We can't see any obvious reason for the drop in price - other than, perhaps, the fact that Peace is trying to sell around 23,000 of them at the moment...

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  29 May 2003:  Peace cops for £1.3 million

  12 May 2003:  SuperBob goes sweet

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