World Chess PLC Expands Shareholding of CEO Ilya Merenzon

World Chess PLC ( (GB:CHSS) ) has shared an announcement.

World Chess PLC has announced the issuance of 25,757,575 new ordinary shares to its CEO, Ilya Merenzon, who is also the largest shareholder. This issuance includes shares from the conversion of a previously announced convertible loan note and a subscription, alongside a disposal of shares by Mr. Merenzon. Following these transactions, Merenzon’s holding in the company has increased to 54.8% of the issued share capital. The new shares are expected to be admitted to trading on the London Stock Exchange by 9 June 2025, which will impact the company’s market presence and shareholder voting rights.

Spark’s Take on GB:CHSS Stock

According to Spark, TipRanks’ AI Analyst, GB:CHSS is a Neutral.

The overall stock score of 42 reflects the significant financial difficulties faced by World Chess PLC, as evidenced by declining revenues, high leverage, and liquidity issues. The bearish technical indicators and poor valuation metrics further weigh on the score. However, strategic corporate initiatives provide a glimmer of hope for future improvements.

To see Spark’s full report on GB:CHSS stock, click here.

More about World Chess PLC

World Chess Plc is a London-based chess gaming and entertainment company and the official commercial partner of the Fédération Internationale des Échecs (FIDE). The company is known for organizing FIDE Championship Matches in the USA and the UK, and has significantly impacted the sport by securing major media partnerships. World Chess also develops Armageddon, a chess league for prime-time television, and operates the FIDE Online Arena, an exclusive official chess gaming platform.

Average Trading Volume: 192,640

Technical Sentiment Signal: Sell

For detailed information about CHSS stock, go to TipRanks’ Stock Analysis page.