World Chess PLC has announced that it has signed an agreement with an existing shareholder for the subscription of 21,663,386 new ordinary shares at a price of €0.07 per share. The total consideration for the shares is €1,508,737.02, which will be paid in seven tranches between September 2023 and March 2024. The shares will only be issued once the full amount of the consideration has been received, although the agreement allows the board to issue shares against payments received in advance. The subscription shares will be admitted to trading on the Main Market of the London Stock Exchange.
Ilya Merenzon, CEO of World Chess, expressed his pleasure at the shareholder's increased investment in the company and stated that further news about the company's development and future plans will be shared in due course.
This announcement contains inside information and is disclosed in accordance with the company's obligations under Article 17 of the Market Abuse Regulation. For more information, visit the company's website or contact the relevant parties listed in the announcement.
World Chess PLC is a leading chess organization that aims to promote the mass market appeal of chess globally through various chess-related activities.