REG - World Chess PLC - Subscription Agreement

World ChessAnnouncement

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RNS Number : 5361U  World Chess PLC  26 February 2026

26 February 2026

 

World Chess Plc

("World Chess" or the "Company")

 

Subscription Agreement

 

World Chess Plc (LSE: CHSS), the London-listed chess company and official
commercial partner of FIDE, is pleased to announce that it has entered a
binding subscription arrangement with two of the Company's existing
shareholders (together, the "Investors"), raising approximately £1,154,941
(the "Subscription").

 

Under the terms of the respective agreements, the Company will issue a total
of 175,915,198 new ordinary shares of £0.0001 each (the "Subscription
Shares") at an issue price of £0.00656533 per share (the "Issue Price"). The
Subscription Shares will be allotted and issued fully paid and will rank pari
passu with the Company's existing ordinary shares in all respects.

 

Completion of the Subscription is subject to the shareholder authority to
issue shares to be proposed at a general meeting of the Company being held on
18 March 2026. Should such authority not be obtained, the number of shares to
be issued to the Investors will be reduced to 127,605,998, being the current
remaining share issuance authority.

 

As part of this transaction, the period for the fulfilment of the conditions
of the warrants referred to in the Company's announcement dated 23 July 2025
will be extended by two years, from 31 December 2026 to 31 December 2028.

 

Ilya Merenzon, Chief Executive Officer of World Chess Plc, commented:

"This new capital allows us to fund our next phase of growth, and the
continued commitment of our existing shareholders gives us both the resources
and the confidence to deliver on it."

 

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 or contact:

 

World Chess Plc

Ilya Merenzon, CEO

merenzon@worldchess.com

 

AlbR Capital Limited

Financial Adviser: David Coffman / Dan Harris

+44 (0) 20 7469 0930

 

Notes to Editors

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 chess history. World Chess develops Armageddon, the chess
league for prime-time television, and operates worldchess.com, the official
FIDE-rated gaming platform. More at worldchess.com.

 

 

 

 

 

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