REG - World Chess PLC - Issue of Equity

World ChessAnnouncement

25/02/2025 07:00

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RNS Number : 2747Y  World Chess PLC  25 February 2025

25 February 2025

World Chess Plc

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

Issue of Equity

World Chess (LSE: CHSS), a leading chess organisation committed to enhancing
the global mass market appeal of chess by introducing a variety of innovative
chess-related activities, confirms further to the announcement of 27 September
2024 that all amounts due under the subscription agreement with Blitz
Intelligence FZCO ("Blitz") have now been received. As a result, 12 million
new ordinary shares of 0.01p each in the capital of the Company ("Ordinary
Shares") at the price of €0.10 per Ordinary Share have been issued to Blitz.

In addition, the Company is also issuing 10,666,672 Ordinary Shares at a price
of €0.375 per Ordinary Share pursuant to the first tranche of the put option
agreement announced on 25 April 2024.  The option was exercised on 30 June
2024 however the investor agreed with the Company that the Ordinary Shares
would be issued on a delayed basis.

Application is being made for the 22,666,672 new Ordinary Shares to be
admitted to the Official List and to trading on the Main Market of the London
Stock Exchange which is expected to be on or around 28 February 2025. These
shares rank pari passu with the existing Ordinary Shares of the Company.
Following the issue of the 22,666,672 new Ordinary Shares, the Company's
issued ordinary share capital shall consist of 715,108,659 Ordinary Shares.

This figure of 715,108,659 represents the total voting rights in the Company
and should be used by shareholders as the denominator for the calculation by
which they can determine if they are required to notify their interest in, or
a change to their interest in, the Company under the Financial Conduct
Authority's Disclosure Guidance & Transparency Rules.

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

For more information, visit: www.worldchess.com (http://www.worldchess.com/)
or contact:

 

 

 World Chess                                    merenzon@worldchess.com

 Ilya Merenzon, CEO

 Novum Securities Limited - Financial Adviser  +44 (0) 20 7399 9400

 David Coffman / Anastassiya Eley

 

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 organised the FIDE Championship Matches in the
USA, and the UK, and revolutionised 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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