Chief executive Derek Bowden has confirmed our earlier report that the share issue deadline has been extended for two further weeks. The initial cut-off point for applications was today at 5pm.

Bowden told the club site: "The deadline for the share application falls today but we have taken the decision that we wish to extend that deadline to July 7th.

"Following the appointment of Jim Magilton as the club's new manager, applications are still arriving and we're encouraged by the level of investment received so far, which is pretty much in line with our expectations.

"As a result, there is money available to Jim to strengthen the squad as promised. Over the next few weeks we expect to see this happen, but the money isn't burning a hole in our pockets. It will be used carefully, thoughtfully and tactically, as will be the case with any further investment.

"At this moment in time we don't believe it sensible to publish how much money is being raised, as buyers it would be foolish to give selling clubs an indication as to the size of our budget.

"In any event, the amount raised will be published in our annual report and accounts and made available to shareholders later this year."

The club is offering a maximum of £1.75 million worth of shares to existing shareholders, season ticket holders and Silver Club members, with the minimum purchase level set at £100.

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