REG - World Chess PLC - Business Update

World ChessAnnouncement

27/02/2024 07:00

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RNS Number : 4968E  World Chess PLC  27 February 2024

27 February 2024

World Chess Plc

("World Chess" or the "Company")

Business Update

World Chess Announces Strategic Updates and Celebrates Chess History with
Special Edition Sets

 

World Chess plc (LSE:CHSS), a prominent chess organisation committed to
enhancing the global mass market appeal of chess by introducing a variety of
innovative chess-related activities, is pleased to provide updates on
strategic developments, including the appointment of a Chief Marketing
Officer, player acquisition metrics, and the continuation of its collaboration
with FIDE.

Introducing Andrew Winton as Chief Marketing Officer

World Chess welcomes Andrew Winton, a marketing executive with a proven track
record at Amazon, News Corp, EE, Sky, and Kaspersky, as the Chief Marketing
Officer, a non-board position. Andrew's expertise will be pivotal in elevating
World Chess's brand globally, spearheading innovative marketing strategies,
and fostering a unified chess community. His leadership will enable the
integration of the Company's diverse offerings, including chessarena.com, the
official FIDE gaming platform, chess clubs, and the Armageddon Championship
Series, under a cohesive brand identity.

Iconic Chess Pieces Take Center Stage

World Chess is proud to continue its collaboration with the International
Chess Federation (FIDE) on the exclusive use of the World Chess Championship
sets in the FIDE Championship Matches, the Candidates Tournaments and other
elite events through 2024 and 2025. Designed by Pentagram for World Chess,
this iconic chess set is one of the most popular chess sets in the world and
is a key piece of the World Chess merchandising portfolio. The set is
manufactured by World Chess for use in the Championship cycle and is also sold
online and in premier retail outlets around the world, including Harrods,
London.

Celebratory Special Edition Sets

Ahead of the FIDE Candidates Tournament in April 2024 and the FIDE World
Championship Match in November 2024, the Company is excited to launch a
special edition chess set. This limited edition set offers chess enthusiasts
worldwide a piece of chess history.

FIDE Online Arena's Metrics

World Chess runs the official FIDE gaming platform, chessarena.com. Following
the Arena 2.0 update in October 2023, World Chess is delighted to report
growth in FIDE Online Arena's user base, which now has 740,000 registered
users and includes 8,500 Pro members - paying members who have their own,
unique FIDE ID. Following several marketing campaigns, the platform is
reporting the direct cost of acquisition at €37 for its paid subscribers,
well below the annual subscription price of €50, underscoring the platform's
value and exclusive role as the only official gaming platform that is
authorised to issue online ratings and titles recognised by FIDE.

Ilya Merenzon, Chief Executive Officer of World Chess, said: "We are delighted
to welcome Andrew Winton as our Chief Marketing Officer. Engaging a talented
and experienced CMO brings us experience and industry knowledge that will help
us on our mission to take the next step into promoting chess as a modern
sport. We have also been focused on product development, ensuring that we
continue producing desirable products with modern designs that will engage the
global chess community.

"As we look ahead, we look forward to developing World Chess as both a brand
and community, whilst carefully managing our resources towards the scaling of
marketing efforts across our entire ecosystem."

For more information, please visit https://worldchess.com/investors
(https://worldchess.com/investors) or contact:

 

 World Chess                                                      Via Yellow Jersey PR

 Ilya Merenzon, CEO

 Novum Securities Limited (Joint Broker and Financial Advisor)    +44 (0) 20 7399 9400

 David Coffman / George Duxberry

 Colin Rowbury

 Allenby Capital Limited (Joint Broker)                           +44 (0) 20 3328 5656

 Joscelin Pinnington / Tony Quirke (Sales)

 John Depasquale / Lauren Wright (Corporate Finance)

 Yellow Jersey PR                                                 +44 (0) 774 778 8221

 Charles Goodwin                                                  +44 (0) 777 519 4357

 Annabelle Wills

 

Notes to Editors

 

About World Chess Plc

World Chess (LSE: CHSS) is a London-based chess gaming and entertainment
company and Fédération Internationale des Échecs ('FIDE') official
commercial partner. World Chess organized the FIDE Championship Matches in the
USA, and the UK, and revolutionized the sport by signing the biggest media
partnerships in history. World Chess develops Armageddon, the chess league for
prime-time television. World Chess also runs FIDE Online Arena, the exclusive
official chess gaming platform. More at worldchess.com
(https://worldchess.com/) .

 

 

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