World Chess PLC has successfully received all seven tranches of consideration for the subscription announced on September 4, 2023, ahead of schedule. As a result, the company has issued 21,663,386 new ordinary shares of 0.01p each under the terms of the Subscription. Application will be made for these shares, along with the 2,867,152 new ordinary shares issued to Engiscent PTE LTD, to be admitted to the FCA's Official List and to trading on the London Stock Exchange's Main market for listed securities, with admission expected to take place on or around February 12, 2024. These shares rank pari passu with the existing shares of the Company.
Following the issue of the new shares, the Company's issued ordinary share capital will consist of 691,724,039 Ordinary Shares. This figure 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 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 and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
For more information, interested parties can visit the company's investor page or contact World Chess directly. The company's financial adviser and joint broker, Novum Securities Limited, and joint broker, Allenby Capital Limited, are also available for further inquiries.
World Chess PLC is a leading chess organization aiming to promote the mass market appeal of chess globally through various chess-related activities.