Arsenal have held a meeting with Red and White Holdings Limited (RAWHL), an investment company that owns nearly a quarter of the club's shares. </p> Earlier on Friday RAWHL - jointly owned by Russian Alisher Usmanov and London-based Farhad Moshiri - increased their stake in Arsenal to 23%.</p> RAWHL is now the second-largest shareholder behind Arsenal director Danny Fiszman, who owns 24.11%.</p> Arsenal insisted in a statement that it was not about to sell up.</p> <div class="bo"> "The board of Arsenal Holdings wish to confirm that a constructive meeting took place between Peter Hill-Wood, Keith Edelman and Farhad Moshiri of Red and White Holdings Limited," said the statement.</p> "Board members of Arsenal Football Club wish to reiterate their intention of retaining their shareholding in the club and have no intention of selling any shares.</p> <div class="bo"> "The board believe that the continued success of the club can best be achieved by the company remaining independent."</p> Moshiri represented RAWHL in the meeting.</p> RAWHL's share purchase is estimated to have cost about £6m - at roughly £10,000 a share - upping its holding by around 2%.</p> Earlier this week, Arsenal's annual financial results to 31 May 2007 showed that income had soared 46% to £200.8m, up from £137.2m a year before.</p> The Arsenal board said that the strong results showed that there was no need for a wealthy individual backer, and insisted that it was not about to sell up.</p> Usmanov is a metals magnate with an estimated $5.5bn fortune.</p> He first bought into Arsenal in August when he paid former vice-chairman David Dein about £75m for his 14.65% holding.</p> That holding was increased earlier this month when he bought another two tranches of shares.</p> Last week Russian media reports said that Mr Usmanov now aims to up his share in Arsenal to at least 25% plus one share.</p> Should Mr Usmanov reach a 30% stake in the club then he would be obliged to make a takeover offer.</p> The club's financial results showed that its operating profits before player trading and exceptional items was £51.2m, up from £13.7m the previous year. Match income is now £3.1m a game, with total match income over the past year of £90.6m.</p> However, TV revenues were down on 2005/06, when the club reached the Champions League final, by £10m.</p> http://news.bbc.co.uk/sport1/hi/football/t...nal/7019155.stm</p> Oh dear.</p> </div> </div>
