REG - World Chess PLC - Issue of Equity

World ChessAnnouncement

08/02/2024 07:15

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RNS Number : 4027C  World Chess PLC  08 February 2024

8 February 2024

World Chess Plc

("World Chess" or the "Company" or the "Group")

Issue of Equity

World Chess plc (LSE: CHSS), a leading chess organisation seeking to promote
the mass market appeal of chess globally through the offering of different
chess-related activities, is pleased to announce that it has signed an
agreement ('Agreement') with an existing shareholder whereby the shareholder
will subscribe for 11,667,187 new ordinary shares of 0.01p each in the Company
('Subscription Shares') at a price of €0.07 per share equating to an
aggregate consideration of €816,703.09 ("Consideration"). The Consideration
is payable in 5 tranches between February 2024 and May 2024. The Subscription
Shares are to be issued following the receipt of the Consideration in full.

 

Application for admission of Subscription Shares to trading on the Main
Market of the London Stock Exchange will be made following issue. The
Subscription Shares rank pari passu with the existing ordinary shares of the
Company.

Ilya Merenzon, Chief Executive Officer of World Chess, said:

"We're delighted that an existing shareholder has committed to further
increasing their investment in World Chess, emphasising their support in our
Company, and we look forward to providing further Company updates in due
course."

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

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

 David Coffman / George Duxberry

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

 Joscelin Pinnington / Tony Quirke (Sales)

 John Depasquale / Lauren Wright (Corporate Finance)

 Yellow Jersey PR

 Charles Goodwin                                                +44 (0) 774 778 8221

 Annabelle Wills                                                +44 (0) 777 519 4357

 

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
(http://worldchess.com/) .

 

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