CHARLTON Athletic have announced details of a new share issues that will raise £5.5m.

The 9,208,333 New Ordinary 50p Shares have been pre-placed at a strike price of 60p per share with directors, and both existing and new investors.

One of the most significant investors, Derek Chappell, has accepted an invitation to become a director of both Charlton Athletic plc and Charlton Athletic Football Company Limited.

His appointment will take affect after the completion of the share placing at the EGM of Charlton Athletic plc on Friday, July 8.

Chappell is a long-standing supporter of the club and a season-ticket holder from the late 1960s.

His grandfather was a season-ticket holder in the 1920s and 30s, his father was at the 1947 FA Cup final to see Chris Duffy score the winning goal and his three sons accompany him to matches.

Chappell 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."

Mr 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. We are all very excited about the future of our football club and this is certainly an exciting time for Derek to be joining us."

He added: "I must also place on record my sincere appreciation for the ongoing financial support provided by Gideon Franklin, Sir Maurice Hatter, John Humphreys, David Sumners, Steven Ward and Bob Whitehand."

Hannah Murray, daughter of plc chairman Richard, has at the same time accepted an invitation to become an associate director of the football club.