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Arsenal Supporters' Trust backs club's lockdown

Posted Tuesday 20th November 2007

Attendees at last Thursdays Annual General Meeting (AGM) of the Arsenal Supporters Trust (AST) voted in favour of resolutions that will see the Trust take action to support the lock down arrangements recently announced by the Board of Arsenal Football Club.

60 members of the Trust attended the AGM in person (with another 97 voting by proxy) where they heard presentations on the ASTs work in the last year. The Trust also launched their new website at the meeting.

Most of the meeting was taken up with discussion about the current ownership issues at Arsenal. Following more than 90 minutes of debate, two resolutions were unanimously approved:

1.      This meeting calls on the AST Board to adopt  formally  the policy position that it will not sell or otherwise dispose of any shares it holds in Arsenal Holdings during the period covered by the so-called "lock-down" agreement between the members of the Board of Directors of Arsenal Holdings.
 
2.      This meeting calls on the AST Board to investigate urgently instituting a scheme whereby individual shareholders of Arsenal Holdings who wish to dispose of their shares can be facilitated in selling to genuine fans who are also members of AST and are not connected in any way with any individual or institution which currently holds shares representing more than 0.01% of Arsenal's issued shares.

Glyn Taylor, Chairman of the Arsenal Supporters Trust, said:
 
We were delighted to see so many members attend the AGM. This demonstrates just how much supporters care about who owns Arsenal, and how the club is run.
 
The AST Board will now put in place plans to implement the two resolutions passed at the meeting. We have decided that we will write to all of our members asking them to vote on the proposed policy position that the Trust does not sell or otherwise dispose of any shares it holds in Arsenal Holdings during the period covered by the so-called "lock-down" agreement between the members of the Board of Directors of Arsenal Holdings. The AST Board will recommend that members vote for this position.
 
We will also investigate proposals for allowing people who want to sell their shares to do so  to other supporters. Alongside this we are looking at ways in which we can create a register that individual shareholders can sign-up to thereby demonstrating their own statement of intent to accord with the general terms of the lockdown arrangements recently announced by  the Board of  Arsenal Football Club.
 
Tim Payton, AST spokesperson, added:
 
"The Arsenal Supporters Trust fully supports the Board's recent decision to extend their lock down agreement.

"The Arsenal Board's decision ensures the club has vital stability off the pitch, allowing Arsene Wenger to concentrate on delivering success on the pitch.

"These resolutions passed at the Trusts AGM demonstrate that the supporters are at one with the Club on this issue.
 
Arsenal supporters, be they Danny Fiszman, Peter Hill-Wood or a supporter with just one share, are the club's true custodians.
 
By all working together we ensure that Arsenal continues to stand for the sporting values it is respected for across the world".

"Both Stan Kroenke and Red and White have said they support the current board and wish to see stability at Arsenal. We therefore believe they will endorse our actions".

Ends