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Share Update
by Simon-Cook on 16th February 2008, 12:14
I realise that everyone is frustrated at the lack of information regarding the share issue, and I can assure you that no one is more frustrated than myself and the other members of the committee.
From our point of view everything is ready to progress. The one stumbling block relates to the incredibly complicated issue of the lease and ownership of Nyewood Lane. Although the football club have the security of a long term lease on the ground, if the structure of the club changes, we need formal agreement (achieved through the correct legal processes) of all parties involved, before this can proceed. The reason why we have not been able to publicly talk about this is purely because we do not want to jeopardise the delicate negotiations that have been taking place, and are continuing. In principle everything is now agreed, however as we all know “in principle” means nothing until all parties have signed on the dotted line.
Please rest assured that as soon as we have news we will publicise it immediately. In the meantime please be patient – we hope it will not be much longer.
You are right to criticise the publication of anticipated completion dates – but these were given in good faith.
Thanks to all that have indicated that they are still patiently waiting to invest. We are creating a list of interested individuals, and if you would care to e-mail me with your name and address, I will ensure that you will receive an invitation the moment the prospectus can be circulated.
My e-mail address is sajcook2@aol.com
As far as contracts for the management team is concerned, there is nothing untoward in Michael Birmingham and Darren Killpartrick not having contracts. Jack has not had a contract and has been at the club for 38 years! In reality, we simply cannot afford the commitment of contracting salaries for a year or two in advance. Hopefully this could change in due course, but we have to be realistic and try to live within our means.
Also it is not a matter of waiting until the summer – we need to launch the share issue as soon as we possibly can.
Hope this of some help – sorry I cannot comment more on the delicate negotiations at this stage.
Simon Cook
Honorary Secretary
From our point of view everything is ready to progress. The one stumbling block relates to the incredibly complicated issue of the lease and ownership of Nyewood Lane. Although the football club have the security of a long term lease on the ground, if the structure of the club changes, we need formal agreement (achieved through the correct legal processes) of all parties involved, before this can proceed. The reason why we have not been able to publicly talk about this is purely because we do not want to jeopardise the delicate negotiations that have been taking place, and are continuing. In principle everything is now agreed, however as we all know “in principle” means nothing until all parties have signed on the dotted line.
Please rest assured that as soon as we have news we will publicise it immediately. In the meantime please be patient – we hope it will not be much longer.
You are right to criticise the publication of anticipated completion dates – but these were given in good faith.
Thanks to all that have indicated that they are still patiently waiting to invest. We are creating a list of interested individuals, and if you would care to e-mail me with your name and address, I will ensure that you will receive an invitation the moment the prospectus can be circulated.
My e-mail address is sajcook2@aol.com
As far as contracts for the management team is concerned, there is nothing untoward in Michael Birmingham and Darren Killpartrick not having contracts. Jack has not had a contract and has been at the club for 38 years! In reality, we simply cannot afford the commitment of contracting salaries for a year or two in advance. Hopefully this could change in due course, but we have to be realistic and try to live within our means.
Also it is not a matter of waiting until the summer – we need to launch the share issue as soon as we possibly can.
Hope this of some help – sorry I cannot comment more on the delicate negotiations at this stage.
Simon Cook
Honorary Secretary
