Gunners extend lock-down agreement

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Football News
Arsenal chairman Peter Hill-Wood has announced an extension of the ´lock-down´ agreement by club directors on the sale of shares in the club.

The move appears to rule out the possibility of a takeover bid in the immediate future at least.

Hill-Wood announced that club directors would only sell their stake to "permitted persons" before April 2009 and had to give fellow board members ´first option´ until October 2012. However, there was a termination clause in the agreement in October 2010.

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