Business
Subscription / PDMR Disclosure
Subscription / PDMR Disclosure.
About this update from World Chess Plc
[{"type":"text","content":"\n\nWorld Chess Plc\n(\"World Chess\" or the \"Company\")\nSubscription / PDMR Disclosure\n \nWorld Chess PLC (LSE: CHSS), a leading chess organisation committed to expanding the global appeal of chess, announces that it has entered into a subscription agreement with Mr. Ilya Merenzon, a director of the Company, for the issue of 24,390,243 new ordinary shares of £0.0001 each (the \"Subscription Shares\") at a price of 3.28 pence per share (the \"Subscription Price\"), raising gross proceeds of approximately £800,000 (the \"Subscription\").\nThe Subscription Price reflects the average price realised by Mr. Merenzon from the recent sale of 17m ordinary shares. The Subscription Shares will be issued and allotted conditional upon admission to trading (\"Admission\").\nApplication is being made for the 24,390,243 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 30 June 2025. These shares rank pari passu with the existing Ordinary Shares of the Company. Following the issue of the 24,390,243 Shares, the Company's issued ordinary share capital shall consist of 765,256,477 Ordinary Shares.\nThis figure of 765,256,477 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.\nFollowing these transactions, Mr Merenzon now holds 401.06m Shares, representing approximately 52.4 per cent. of the Company's issued share capital.\nThis 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).\nFor more information, visit: www.worldchess.com or contact:\n \n \n\n\n\n\nWorld Chess\nIlya Merenzon, CEO\n\n\n [email protected]\n\n\n\n\n \n\n\n \n\n\n\n\nNovum Securities Limited - Financial Adviser\nDavid Coffman / Anastassiya Eley\n\n\n+44 (0) 20 7399 9400\n\n\n\n\n \n\n\n \n\n\n\n\n \nNotes to Editors\nAbout World Chess Plc\nWorld Chess (LSE: CHSS) is a London-based chess gaming and entertain...