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ALL THE NEWS
Bognor FC are hoping to launch their much-needed share issue in the next fortnight. They are hoping to raise up to £500,000, double the amount they first stated. A more detailed statement will be announced by Friday 16th May. Watch this space!
The Football Committee
All the documentation towards incorporation is well advanced and the 'Application for an Invitation to Purchase Shares' will soon be available when approved by the company directors. This will contain information about the club and how to apply for the invitation to buy shares. The means to obtain this document will be posted on this website as soon as it becomes available. Anyone wanting to buy shares has to provide evidence of a link or association with the club. If such a link may be difficult to prove, or tenuous, an option worth considering is joining the Supporters' Club .More info on the Supporters Club can be found at www.therocks.co.uk/sclub. I believe the fee is £5 and a membership form will provide a registration number that can be quoted on the application form. Mike Phillips
The FA has approved the club’s proposal to become a private limited company. Arrangements are well advanced for the club to be a limited company. This private limited company will be temporary arrangement, as required by The Companies Acts 1985 to 1989, to enable the club to issue an invitation to purchase shares. Why become a Private Limited Company? The decision to become a private limited company follows advice from various sources and meets the approval of the Football Association. It is cheaper than becoming a public limited company. Becoming a private limited company enables the club to issue an invitation to buy shares. This arrangement provides the club with greater control over who may purchase a majority of shares than if the club decided to become a public limited company, whether the majority share holder is likely to be an individual or a consortium.
Club Members and the Management Committee are committed to securing a long term, successful and financially sustainable future for this club. The club is also committed to doing all it can to preserve, as part of the new club, values so many supporters believe to be so important: a family friendly, community club playing attractive football at the highest level possible.
The Process The staged process towards the issue of an invitation to buy shares is in accord with current legislation and recommendations of the Football Association, Club Members and the Management Committee.
Stage 1 The club becomes a temporary private limited company with three directors who be responsible for the invitation to buy shares and then the arrangements for share holders to appoint a board of directors and chair person. The three temporary directors will be: Dominic Reynolds (Chair), Paul Jacks (Company Secretary) and Jack Pearce (Director).
Stage 2 An information pack with an ‘invitation to purchase’ is being prepared for approval by the temporary directors. The club aims to have this pack available on-line from the club’s website, or buy post.
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Further information will be posted on this page as soon as it becomes available. There will also be press releases and updates on Spirit FM.
Mike Phillips (Management Committee Member) |