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Ownership of the Club set to change

Ownership of the Club set to change

The following announcement was made by the PLUS Stock Exchange on 11 April 2011:

The Boards of KSE and Arsenal are pleased to announce that they have agreed the terms of a recommended mandatory cash offer to be made by KSE for Arsenal (the "Offer").

* For each Arsenal Share, Arsenal Shareholders will receive GBP11,750 in cash.

* The Offer values the entire issued share capital of Arsenal at approximately GBP731 million.

* KSE is a Delaware corporation wholly-owned by Mr E. Stanley Kroenke.

* KSE has entered into a call and put option agreement with DF Nominees (the company holding Mr Daniel David Fiszman's interests in Arsenal Shares) in respect of 10,025 Arsenal Shares, representing approximately 16.11 per cent. of the issued share capital of Arsenal.

* In addition, KSE has received irrevocable undertakings to accept the Offer from Lady Nina Bracewell-Smith and the Arsenal Directors who hold Arsenal Shares (other than Mr Fiszman and Mr Kroenke) in respect of all the Arsenal Shares which they hold, representing in aggregate 10,448 Arsenal Shares (approximately 16.79 per cent. of the issued share capital of Arsenal).

* Taking into account KSE's existing holding of 18,656 Arsenal Shares (representing approximately 29.99 per cent. of the issued share capital of Arsenal), the call and put option agreement referred to above, and the irrevocable undertakings it has received, KSE now has an interest in or commitments over a total of 39,129 Arsenal Shares, representing approximately 62.89 per cent. of the issued share capital of Arsenal.

* The Offer will be made in accordance with Rule 9 of the Takeover Code and will be conditional only upon KSE receiving acceptances which will result in KSE and its concert parties holding more than 50 per cent. of the Arsenal Shares.

Full announcement here. Information published by Arsenal here.

Detailed reaction and call to action from AISA here.

Information about the takeover and the position of the Arsenal Supporters’ Trust at their website and on Twitter.

Join the Arsenal Fanshare scheme here and a FAQs document about the takeover here.


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