Danny Fiszman Transfers His Arsenal Shares

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Today (Thursday 23 December 2010) at 12.52pm GMT I along with all other Arsenal shareholders received the following email message from the club:
As required by PLUS market rules, Arsenal Holdings plc (the “Company”) announces that it was notified on 22 December 2010 that on that date Daniel Fiszman, a Director of the Company, effected the transfer of 10,025 ordinary shares of £1 each in the Company (the “Shares”) (representing 16.1 per cent of the total issued share capital of the Company) from the existing nominee holders to a new nominee, DF Nominees Limited.  
The Shares were transferred to the nominee company at no cost. The transfer does not affect the beneficial ownership of the Shares. Accordingly, Mr Fiszman continues to have a beneficial interest in 9,985 Shares (representing 16.04 per cent of the total issued share capital of the Company) and The Star Charitable Trust (of which Mr Fiszman is a trustee) continues to have a beneficial interest in the remaining 40 shares (representing 0.06 per cent of the total issued share capital of the Company).
23/12/10 
The announcement is all that we know officially. It would appear to confirm continuous speculation about Danny Fiszman’s health however. He’s known to be suffering with cancer. The statement will add to speculation that his medical condition may be terminal. In the absence of an official statement that can’t be confirmed though.
It may be merely a prudent, just in case, tidying up exercise. It’s impossible to say with certainty. It can’t help but ramp up speculation about the future ownership of our beloved club however.
We’re now in the situation where the future ownership nearly a third of the club’s shares – Danny Fiszman’s 16.1% and Lady Nina Bracewell-Smith’s 15.9% stakes – a total of 32%, is uncertain, especially if Danny Fiszman’s condition is terminal. Lady Nina has had her shares on offer since April this year, unsuccessfully thus far.
Purchasing both stakes would of course give either Alisha Usmanov or Stan Kroenke voting control of a majority of the club. They would both be obliged under City Takeover Panel rules to make an offer for all the remaining shares in the club. Usmanov’s offer would have to be substantially higher than Kroenke’s as the minimum level of the offer has to be pitched at the highest price paid in the preceding year prior to the offer for any share acquired. This would be £8,500 in the case of Stan Kroenke, over £12,000 in the case of Alisher Usmanov.
I don’t expect either to make an early move that would trigger a compulsory offer. Kroenke in particular would have to borrow heavily or liquidate other assets to raise cash. This would also apply to a lesser extent to Alisher Usmanov, although he will get a  huge cash injection when and if the expected Initial Public Offer (IPO) of 20-30% of the equity of the Russian mining, steel and minerals conglomerate Metalloinvest, in which Usmanov has a controlling stake,  takes place. Speculation has been around since 2009 that was being actively considered. The latest reports suggest that the IPO will occur sometime in the New Year.
Watch this space.
Keep the faith!