Stan Kroenke has bought 90 more shares.
He paid £8,500 for each share and now has 28.9%. He now needs only 645 more shares to take him to 29.9% .
Then Stan will probably stop buying shares till the end of the season.
The primary concern of a buyer in these situations is the bid price he is obliged to pay. Having paid £10,500 for Clive and Sarah Carr’s shares in May 2009, Stan does not want the bid price to be 10.5 or anywhere near it.
If Usmanov’s Red & White got another 4% shares they would have over 29% as well.
Arsenal.com reports as follows :
On 15th October 2009, Arsenal Holdings plc (the “Company”) received notification that on 14th October 2009 Stan Kroenke, a director of the Company, acquired 90 ordinary shares of £1.00 each in the Company at a price of £8,500 per share. Taking into account such acquisition, Stan Kroenke has a beneficial interest in, and controls voting rights over, 17,957 ordinary shares in the Company, representing 28.9% of the Company’s issued ordinary shares.