Rocks: We're getting there on share issue

Bognor bosses say they are just one hurdle away from being able to launch their share issue.

Rocks fans have been pressing for news of the launch - which was originally supposed to take place before Christmas - for weeks.

Now the club have explained they have been held up by delicate negotiations over their lease, but hope to move forward soon.

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They have also moved to explain why Michael Birmingham and Darin Killpartrick have not been offered contracts beyond their week-to-week arrangement for managing and coaching the side.

Secretary Simon Cook said: "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.

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"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.

Thanks to all that have indicated that they are still patiently waiting to invest. We are creating a list of interested individuals."

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Cook continued: "As far as contracts for the management team is concerned, there is nothing untoward in Michael Birmingham and Darin 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."

Get the Observer on Thursday for all the latest from Nyewood Lane