Issue of Convertible Loan Note / PDMR Disclosure
CEO Ilya Merenzon issued 25.8m shares via convertible loan conversion and subscription, increasing his stake to 54.8%.
- Shares issued via convertible conversion 16,666,666
- Shares issued via subscription at 3.3p 9,090,909
- Subscription amount £300,000
- CEO shareholding after transactions 406.2m shares (54.8%)
- Total issued ordinary share capital 740,866,234
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World Chess PLC (LSE: CHSS), a leading chess organisation committed to expanding the global appeal of chess, announces the issue of 25,757,575 new ordinary shares ("Shares") to Ilya Merenzon, its CEO and largest shareholder.
16,666,666 Shares have been issued through the conversion of the convertible loan note announced on 13 May 2025 and 9,090,909 Shares have been issued following a subscription of £300,000 at a price of 3.3p per Share ("Subscription"). In addition, Mr. Merenzon has also disposed of 6.77m Shares.
Application is being made for the 25,757,575 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 9 June 2025. These shares rank pari passu with the existing Ordinary Shares of the Company. Following the issue of the 25,757,575 Shares, the Company's issued ordinary share capital shall consist of 740,866,234 Ordinary Shares.
This figure of 740,866,234 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.
In addition, Mr Merenzon has also purchased an additional 11.8m Shares in an off-market transaction.
Following these transactions, Mr Merenzon now holds 406.2m Shares, representing approximately 54.8 per cent. of the Company's issued share capital.
| a) | Name | Ilya Merenzon |
| 2. | Reason for the notification | |
| a) | Position/status | CEO |
| b) | Initial notification / Amendment | Initial Notification |
| a) | Name | World Chess plc |
| b) | LEI | 213800BKR3RT23F9DN71 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of £0.0001 |
| Identification code | ISIN: GB00BN70RC41 | |
| b) | Nature of the transaction | 1. Purchase of ordinary shares 2. Conversion of convertible loan note |
| c) | Price(s) and volume(s) | Price (s) Volume (s) 1. 3.3 pence 2. 3.3 pence 1. 9,090,909 2. 16,666,666 |
| d) | Aggregate information | |
| - Aggregate volume | ||
| - Total Price | 1. 9,090,909 £300,000 2. 16,666,666 £550,000 | |
| e) | Date of the transaction | 03/06/2025 |
| f) | Place of the transaction | Outside of a trading venue |
| g) | Additional information | N/A |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Ilya Merenzon |
| 2. | Reason for the notification | |
| a) | Position/status | CEO |
| b) | Initial notification / Amendment | Initial Notification |
| a) | Name | World Chess plc |
| b) | LEI | 213800BKR3RT23F9DN71 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of £0.0001 |
| Identification code | ISIN: GB00BN70RC41 | |
| b) | Nature of the transaction | Purchase of ordinary shares |
| c) | Price(s) and volume(s) | Price (s) Volume (s) USD $0.048 11,800,000 |
| d) | Aggregate information | |
| - Aggregate volume | 11,800,000 | |
| - Total Price | USD $566,400 | |
| e) | Date of the transaction | 02/06/2025 |
| f) | Place of the transaction | Outside of a trading venue |
| g) | Additional information | N/A |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Ilya Merenzon |
| 2. | Reason for the notification | |
| a) | Position/status | CEO |
| b) | Initial notification / Amendment | Initial Notification |
| a) | Name | World Chess plc |
| b) | LEI | 213800BKR3RT23F9DN71 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of £0.0001 |
| Identification code | ISIN: GB00BN70RC41 | |
| b) | Nature of the transaction | Disposal of ordinary shares |
| c) | Price(s) and volume(s) | Price (s) Volume (s) 1. 0.0345p 2. 0.0344p 3. 0.0330p 4. 0.0345p 1. 1,200,000 2. 3,880,000 3. 350,000 4. 1,355,000 |
| d) | Aggregate information | |
| - Aggregate volume | - 6,765,000 | |
| - Total Price | - £232,480 | |
| e) | Date of the transaction | 1. 28 May 2025 2. 29 May 2025 3. 30 May 2025 4. 3 June 2025 |
| f) | Place of the transaction | London Stock Exchange |
| g) | Additional information | N/A |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.