New West Ham shares allocated in £30m rights issue

Companies House have today confirmed that WH Holding Ltd the parent company of West Ham United has allocated 750 new shares in a rights issue to raise £30m of capital with each share costing £40,000 each.

Claret and Hugh understand all existing shareholders have taken up their options on the new shares offered.

In April the club on WHUFC.com publicly announced that shareholders were due to inject £30m of cash into the Hammers in response to the pandemic which has caused a financial in football.

The current breakdown of  W H Holding Limited shareholders is David Sullivan 51.1% David Gold 35.1% Tripp Smith 10% Terry Brown, Harris family and Karren Brady 3.8%

That would mean the following breakdown if no-one has diluted their shareholding  David Sullivan £15,030,000 David Gold £10,530,000 Tripp Smith £3,000,000 Others £1,140,000

We are told the share offer was fully subscribed and did not require any outside investment from new investors.

Basically, the current West Ham shareholders appear to have paid for the same percentage of shares they already owned instead of making further shareholder loans.

The £30m cash injection will help the club with much-needed cash flow and help to counteract the massive losses West Ham expect to make this season.