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CHSS World Chess Plc

3.50
0.00 (0.00%)
21 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
World Chess Plc LSE:CHSS London Ordinary Share GB00BN70RC41 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 3.50 3.00 4.00 3.50 3.50 3.50 0.00 08:00:02
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Business Services, Nec 2.35M -4.69M -0.0070 -5.00 23.35M

World Chess PLC Put Option Agreement

25/04/2024 2:50pm

RNS Regulatory News


RNS Number : 0891M
World Chess PLC
25 April 2024
 

25 April 2024

World Chess Plc

 

("World Chess" or the "Company" or the "Group")

 

                                                                             Put Option Agreement

 

World Chess plc (LSE: CHSS), a prominent chess organisation committed to enhancing the global mass market appeal of chess by introducing a variety of innovative chess-related activities, announces that it has entered into a Put Option Agreement (the "Agreement") with an existing shareholder ("the Investor").

 

Under the terms of the Agreement, the Investor will subscribe for new ordinary shares ("Shares") of the Company at 0.0375 EUR ("Exercise Price") per share up to a total amount of 1,500,001.05 EUR, subject to exercise by the Company in the following tranches:

 

Tranche

Exercise Period

Subscription Amount

Number of Shares

1.

From signing the agreement to 01.06.24

400,000.20 EUR

10,666,672

2.

From 30.07.24 to 01.09.24

500,000.85 EUR

13,333,356

3.

From 30.10.24 to 31.12.24

600,000 EUR

16,000,000

 

The Investor will have the right to refuse to exercise a request for execution of any tranche of the Agreement if from the date of signing of this agreement but before the end of the respective Exercise Period (i) the Company issues Shares at below the Exercise Price, (ii) a subscription(s) occurs for Shares by a party other than the Investor where the aggregate amount exceeds 1,000,000 EUR, or (iii) the Company issues a new class of shares.

 

The Investor may arrange for a third party to perform the subscription subject to certain conditions.

 

For more information, please visit https://worldchess.com/investors or contact:

World Chess

Ilya Merenzon, CEO

 

 

Via Yellow Jersey PR

 

Novum Securities Limited - Financial Advisor

David Coffman / George Duxberry

 

 

+44 (0) 20 7399 9400

 

Allenby Capital Limited - Broker

Joscelin Pinnington / Tony Quirke (Sales)

John Depasquale / Lauren Wright (Corporate Finance)

 

+44 (0) 20 3328 5656

Yellow Jersey PR

Charles Goodwin

Annabelle Wills

 

+44 (0) 774 778 8221

+44 (0) 777 519 4357

 

Notes to Editors

About World Chess Plc

World Chess (LSE: CHSS) is a London-based chess gaming and entertainment company and Fédération Internationale des Échecs ('FIDE') official commercial partner. World Chess organized the FIDE Championship Matches in the USA, and the UK, and revolutionized the sport by signing the biggest media partnerships in history. World Chess develops Armageddon, the chess league for prime-time television. World Chess also runs FIDE Online Arena, the exclusive official chess gaming platform. More at worldchess.com.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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