Today's annual general meeting at Emirates Stadium may have been dominated by the announcement of the board entering a five-year share 'lock down' which they hope will now bring to an end speculation concerning a takeover.

But the Gunners boss has only ever focussed on matters he can influence on the field.

With his men returning to domestic action on Saturday against managerless Bolton looking to consolidate their position at the top of the Barclays Premier League, Wenger certainly has plenty of reasons to be positive about the future of this current squad - one which was supposed to struggle following the sale of talisman Thierry Henry to Barcelona during the summer.

However, French coach Wenger has often been criticised for a lack of home-grown talent in his first-choice team - and it is often highlighted there are now no Arsenal players in the England squad.

Wenger, though, also staunchly defends his record of player development, with the likes of David Bentley and Chelsea midfielder Steve Sidwell having come through the Arsenal ranks while current England full-back Ashley Cole was schooled at Highbury.

The Arsenal boss maintains that conveyor belt continues to run strongly, with young men such as England youth international Henri Lansbury, Gavin Hoyte and Mark Randall all waiting in the wings.

"I feel we have produced some good work from the behind as well, with good young players," the Arsenal manager said.

"We have good first year [scholars], and it is a good young English generation.

"It is very promising and very good.

"We hope that in a few years we will have some very strong English players who can of course be a good mixture with players from abroad."

Wenger quipped: "We want to develop domestic players - especially after the result last night!"

The Arsenal manager - who recently agreed a new, three-year deal - received a standing ovation when he prepared to address the assembled shareholders at today's meeting.

The Frenchman, 57, was clearly moved following the unveiling of a bronze bust which had been commissioned to mark his contribution to the north-London club over the past 11 years in which he delivered both the domestic title as well as the FA Cup and an appearance in the final of the Champions League.

Wenger spoke of a "shared vision" for success, which he maintained was as "hungry" as ever, and also praised Arsenal for always showing great strength and unity under often intense pressure.

He said: "We feel until now this season we have shown these qualities.

"It is very enjoyable and I am excited to try to help them improve because from game to game we have strengthened our belief, and have started quite well.

"But we are not stupid because we know there is a long way to go and the competition is very hard."

The AGM was opened by chairman Peter Hill-Wood, who used his speech to announce an extension of the agreement by directors on the sale of shares.

The new agreement means directors will only sell their stake to "permitted persons" before April 2009 and have to give fellow board members 'first option' until October 2012. However, there is a termination clause in the agreement in October 2010.

The original 'lock down' had came in the wake of vice-chairman David Dein's departure from the board due to "irreconcilable differences", understood to be over the involvement of American businessman Stan Kroenke, who has since acquired a 12.2% stake in the club and is now, ironically, considered a strong ally of the board.

Neither American Kroenke or Russian Alisher Usmanov, who via his investment company Red and White Holdings now owns around 23% and is the second largest shareholder behind director Danny Fiszman - appeared in person at today's meeting, but were understood to have been represented.

Hill-Wood believes this latest move by the board will now end all talk of a hostile takeover and help stabilise the club off the pitch.

"There has been much recent media coverage surrounding the share ownership of the group, following the arrival of two new major shareholders in the past year," he said.

"I would like to take this opportunity to emphasise to all shareholders that the Arsenal board is committed to the principle of developing the long-term stability of the club through maintaining a business that pays its own way."

The off-field matters were always going to dominate today's event, which also saw Hill-Wood answer some 12 pre-submitted questions from shareholders.

Just before the meeting was drawn to a close, Alex Fynn - author and well-known consultant to the football industry including the likes of the Football Association as well as Arsenal themselves and Tottenham - took to the floor to call for recognition of the work done by Dein.

The former vice-chairman was instrumental in bringing Wenger to the club and now fronts up RAWHL in a non-executive role having sold his 14.5% share to Usmanov's group for £75million in August.

Hill-Wood commented: "I apologise for the omission.

"We did refer to his work in the accounts and I am fully aware of the contribution he has made over the past few years."