Subscription / PDMR Disclosure
CEO Ilya Merenzon subscribes for 24.4m shares at 3.28p, raising £800k gross.
- Subscription proceeds £800,000
- Subscription price per share 3.28 pence
- Subscription shares 24,390,243
- Total ordinary shares post-issue 765,256,477
- Merenzon holding post-transaction 52.4%
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World 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").
The 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").
Application 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.
This 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.
Following these transactions, Mr Merenzon now holds 401.06m Shares, representing approximately 52.4 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 | Subscription for ordinary shares |
| c) | Price(s) and volume(s) | Price (s) Volume (s) £0.0328 24,390,243 |
| d) | Aggregate information | |
| - Aggregate volume | 24,390,243 | |
| - Total Price | £800,000 | |
| e) | Date of the transaction | 24 June 2025 |
| f) | Place of the transaction | Outside of a trading venue |
| g) | Additional information | N/A |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.