Arsenal Holdings PLC
Statement
It has been announced today that E.Stanley Kroenke has accepted the Board's
invitation to become a director of Arsenal Holdings PLC ("Arsenal") as a
Non-Executive Director.
Mr Kroenke is the shareholder in Kroenke Sports Enterprises (KSE), the leading
live sports and entertainment group based in Denver, Colorado. In April this
year KSE acquired from ITV plc a 50% share in Arsenal Broadband Limited and at
the same time entered into a strategic partnership with the Club through
Colorado Rapids, the KSE franchise. Mr Kroenke holds approximately 12.4% of
Arsenal's issued share capital.
Mr Kroenke fully supports the approach the Board has taken in setting the
direction of the Club. The Board believes Mr Kroenke's experience in sports
team commercial management, sports marketing, media and new media rights as
well as real estate development will be of great value to the Board.
Mr Kroenke has confirmed that he will not increase his shareholding beyond
29.9% of Arsenal's issued share capital within the twelve months following the
date of this announcement, save as specified in this announcement.*
Arsenal Chairman, Peter Hill-Wood, commented:"We are delighted to welcome Stan
to the Board of Arsenal. He brings with him a wealth of experience through his
direct involvement in sports clubs in the US and we expect to benefit from his
commercial insights and knowledge."
Stan Kroenke said: "It is a real honour to be invited to join the Board of
Arsenal given its pre-eminent reputation and position in football world-wide. I
hope that my background in sports management will be an asset to Arsenal in its
commercial dealings going forward."
*Mr Kroenke, and any person who has acted in concert with him or any person who
is subsequently acting in concert with him, reserves the right to increase his
shareholding beyond 29.9% of Arsenal's issued share capital within twelve
months, and to take any other action which would otherwise be precluded under
Rule 2.8 of The City Code on Takeovers and Mergers, with the agreement of the
Board of Arsenal or following the announcement of an offer or possible offer
for Arsenal or if there is a material change of circumstances. Mr. Kroenke is
not a party to the lockdown agreement which was signed by the other directors
of Arsenal in October 2007.
19th September 2008
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Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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