Amendment to Loan Facility
Loan facility maturity extended to end 2026, interest rate increased from 4% to 12% per annum.
- Loan facility €6 million
- Previous interest rate 4% per annum
- New interest rate 12% per annum (prior 4% per annum)
- New maturity date 31 December 2026
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World Chess PLC (LSE: CHSS), a leading chess organisation committed to expanding the global appeal of chess, announces that its subsidiary, World Chess Events Limited, has agreed certain amendments to the €6 million loan facility, originally entered into on 27 December 2024.
The loan maturity date has been extended to 31 December 2026. In addition, the interest rate applicable to the facility will increase from 4 per cent. per annum to 12 per cent. per annum with effect from 1 May 2025. Certain other minor terms of the facility have also been amended.
Ilya Merenzon, Chief Executive Officer of World Chess, commented:
"We are pleased to have agreed to these amendments, which provide additional flexibility for the Company to pursue its growth strategy while maintaining a supportive funding structure."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.