In September 2007, Peace acquired additional shares in West Bromwich Albion Holdings Limited, taking his total stake in the company to 50.56%. This triggered a requirement, under the Takeover Code, for him to make a mandatory cash offer for the remaining shares in both WBA Holdings Ltd and WBA Ltd. Later that year, Michelle Davies became Albion's first female director. She stepped down in 2010. Jeremy Peace announced in June 2008 that he was looking for a major new investor for the club, but no firm proposals were received by the 31 July deadline.