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World Chess PLC Issues Convertible Loan Note to CEO

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World Chess PLC Issues Convertible Loan Note to CEO

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An announcement from World Chess PLC ( (GB:CHSS) ) is now available.

World Chess PLC has announced the issuance of a convertible loan note (CLN) to its CEO and largest shareholder, Ilya Merenzon, following his disposal of 29.3 million ordinary shares. Merenzon plans to reinvest the net proceeds of £550,000 into the CLN, which is convertible at any time until June 2026 at 3.3 pence per share, reflecting the average price of his recent share disposals. This strategic financial move aims to reinforce Merenzon’s commitment to the company and potentially impact its market positioning by ensuring continued leadership stability and shareholder confidence.

More about World Chess PLC

World Chess PLC is a London-based chess gaming and entertainment company, serving as 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 chess world by securing major media partnerships. It 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: 180,264

Technical Sentiment Signal: Sell

See more data about CHSS stock on TipRanks’ Stock Analysis page.

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