W H Holding, the parent company of West Ham United, is pleased to announce the club has raised £4m in new equity through a placing of shares, primarily with new investors.

The proceeds will partly be used to buy in some of the shareholding of CB Holding EHF, with the balance available to fund the further development of the club on and off the pitch. The placing was conducted by Shore Capital and Corporate Limited.

The new investors are John Harris CBE and Daniel Harris, and Terence Brown, former Chairman of the club. Daniel Harris is joining the board and Terence Brown is becoming Honorary Life President of the club. David Sullivan and David Gold also subscribed for further shares.

Terence Brown is well known to supporters having been involved with the Club for many years. Father and son John and Daniel Harris are lifelong supporters of West Ham and will also be known to many supporters. They previously built up the publicly listed Alba Group, which was founded by John Harris, and currently run Harvard Medical Devices.

Daniel Harris said: "My father and I have considered investing in West Ham on a number of occasions. We chose to do so now because we have confidence in the new management team and believe they are capable of fulfilling West Ham's exciting potential. We look forward to the future success of the club."