ALL DAY we were wondering who sold those 659 Arsenal shares on Wednesday
And to whom.
We wondered : Does this mean anything?
On the one hand, this is London and millions of shares are bought and sold every day.
On the other hand, that hedge fund might have figured : let’s take the £4 mill and invest in something else.
But now, after a statement by Arsenal Holdings plc, we know that Danny Fiszman sold some shares..
On 15th March 2007, Arsenal Holdings plc received notification that Daniel Fiszman, a Director of the company, sold 659 ordinary shares in the Company on 14th March 2007 at a price of £5,975 per share.
Following the Sale, Mr Fiszman’s beneficial interest in the share capital of the Company is now 15,000 ordinary shares, which represents 24.11% of the Company’s issued ordinary shares.
Who bought them?
That’s Danny’s business.
Why did he sell ?
That’s his business too.
On 1st March, another Arsenal director, Sir Chips Keswick purchased, through Giltspur Nominees, twenty ordinary shares in the Company at a price of £5,300 per share. He now owns 40 ordinary shares, representing 0.064% of the Company’s issued ordinary shares.
There are whispers that a new chairman will be announced soon.
We assume that Sir Chips was brought onto the board by chairman Peter Hill-Wood. Sir Chips must be a friend of Peter’s rather than a friend of Danny’s. Because if he was a friend of Danny’s, Danny could have sold him 20 shares at £5,300 fourteen days ago.
Maybe Danny thinks there’s an offer out there for the club. Maybe he wondered if it’s a serious offer and maybe he decided to say he would sell less than 1% of the club, to see if the buyer was serious. And the buyer has spent £3.9 million, proving he is serious.
There are 62,219 Arsenal shares and during the month of March the share price has gone up £350.
That makes the club worth at least £370 million.