GETTY Arsene Wenger is planning a move for Arda Turan to help replace Alexis Sanchez and Mesut Ozil

EU law stipulates that companies must reveal any information to potential investors that makes a material difference to the future value of the company in order to limit the potential for insider trading.



Although shares in parent company Arsenal Holdings plc are rarely traded, they are nevertheless listed on the NEX Exchange in London and subject to their regulations.



Arsene Wenger hinted publicly that a mutual decision had been reached - with the 67-year-old expected to sign a new two-year deal - when he announced in his post-match press conference on Saturday: “I know what I will do in my future so you will soon know very soon.”



Investors therefore expected a rapid formal announcement to the exchange to clarify the position as there is just as much onus on the club to end speculation even if Wenger’s statement was not true.

REUTERS Arsene Wenger is poised to sign a new two-year contract

NEX refused to reveal whether there had been any dialogue with the Arsenal board and were not willing to discuss the specific events concerned.



However, a spokesman said: “NEX would not want to comment on the actions of Arsenal Holdings plc but I am sure they are aware there is a disclosure obligation within the full set of directives that are identical to the London Stock Exchange and set by EU law. It falls to Arsenal to ensure that they comply with them.”



Arsenal, whose chairman Sir Chips Keswick is a respected figure in financial circles with a number of non-executive directorships under his belt, are fully aware of the need for clarity to the exchange, reporting Wenger’s last contract extension in 2014 as soon as it was agreed.



A spokesman for the Arsenal board said: “We fully understand our commitment to the exchange and will fall in line with whatever is required.”



At the same time, it appears there is no rush to resolve the futures of Mesut Ozil and Alexis Sanchez after Wenger admitted contract talks have been put on hold till the summer.

Arsenal fans display banners calling for Arsene Wenger's exit Sat, March 18, 2017 Arsenal fans raised banners calling for Arsene Wenger's exit after the Gunners lost 3-1 to West Bromwich Albion Play slideshow Getty Images•REUTERS 1 of 8 Arsenal fans raised banners calling for Arsene Wenger's exit at The Hawthorns

“I managed to always get the best out of the team and that's what I will do as long as I am at Arsenal Football Club.



“At the moment we are going through a difficult period on the results and so I think it's much more important to focus to get it right again.



“We suffer a lot at the moment but it's not, when you take a little bit distance and put things into perspective, you know, we are two games in hand, we are in the semi-finals of the cup to prepare against City. Our season will be decided how well we respond now to the difficult period we have.”



“Of course it will be a disappointment not to win the championship and after that you have to do as far and as well as you can.



“We play in a position at the moment where we have to fight to finish as high as we can and then see and let other people judge us. People judge your work and my job is not to judge. My job is to produce and let other people judge.



“We have good players and they are young players. They have a team that's very young. Overall I think the spirit is good, the structures are absolutely fantastic and the mental qualities inside the club.”