News
AST ballots all members on supporting the Arsenal Board?s lockdown
Posted Friday 8th February 2008
The AST has now written to all its members with ballot forms that give them the chance to vote on policies the Trust Board have formulated following resolutions passed at the AST AGM late last year. The Trust is now putting to every member the following resolutions:
Resolution 1: That the Arsenal Supporters Trust (AST) will not sell or otherwise dispose of any shares it holds in Arsenal Holdings plc (Arsenal) during the period covered by the Directors lockdown agreement announced at the Annual General meeting of Arsenal on 18th October 2007. (Directors Lockdown).
Resolution 2: That the AST should maintain a non legally binding register of Arsenal shareholders who confirm that during the period of the Directors Lockdown it is their intention not to sell any shares in Arsenal*.
*Recognising that individual circumstances may mean that some shareholders find they need to sell shares they hold in Arsenal, the AST will investigate ways in which these shareholders can sell their shares to other persons who form part of the lockdown agreement or whom hold shares representing no more than 0.01% of the shares in Arsenal, ensuring the current plurality in ownership reflected by the lockdown agreement.
Glyn Taylor, Chairman of the Arsenal Supporters Trust, explained the reasoning for undertaking a full ballot of members.
The AST Board decided that these resolutions were so important that we wished to put them to a vote of the whole membership. By doing this we will be able to establish a clear understanding of the views of our members and make sure their views are then articulated to the Club and other shareholders. The AST Board is recommending that members vote for both resolutions.
