Charlton gets ready for share issue

Adjust font size:

The Premier League club has announced to the London Stock Exchange a share issue from which they expect to raise £5.525m to fund transfers.

The issue has been under-written by existing directors and shareholders and a new investor, Derek Chappell, who will be appointed as a non-executive director to the board. Chappell's appointment as a director of Charlton Athletic plc and Charlton Athletic Football Company Limited will take affect after the completion of the share deal at the EGM of the plc on 8 July.

Chappell has been a season-ticket holder from the late 1960s and said: "I made a major investment in the club during the recent share placing and I am delighted to have been asked to join both the plc board and the football club board. I would like to think that I can bring some of the passion and ambition that have worked well for me in my business life to help further the fantastic growth the club has enjoyed under the guidance of Richard Murray, his fellow directors and Alan Curbishley over the past 13-plus years." Plc chairman Murray said: "I am delighted that Derek has accepted our invitation to join the two boards. I am sure he will make a valuable contribution, especially in the areas of motivation and customer care.”