Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
World Chess PLC ( (GB:CHSS) ) just unveiled an announcement.
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 non-interest bearing and convertible at 3.3 pence per share until June 2026. This move consolidates Merenzon’s position, as he still retains 52.47% of the company’s shares, and reflects a strategic financial maneuver to reinforce his stake in the company.
More about World Chess PLC
World Chess PLC, listed on the London Stock Exchange under the ticker CHSS, is a London-based chess gaming and entertainment company. It is an official commercial partner of the Fédération Internationale des Échecs (FIDE) and has organized FIDE Championship Matches in the USA and the UK. The company is known for its significant media partnerships and operates the FIDE Online Arena, an exclusive official chess gaming platform.
Average Trading Volume: 180,264
Technical Sentiment Signal: Sell
For an in-depth examination of CHSS stock, go to TipRanks’ Stock Analysis page.