World Chess PLC

Director's Dealing • May 13, 2025

National Storage Mechanism | Additional information

RNS Number : 4904I

World Chess PLC

13 May 2025

World Chess Plc

("World Chess" or the "Company")

Issue of Convertible Loan Note / PDMR Disclosure

World Chess PLC (LSE: CHSS), a leading chess organisation committed to expanding the global appeal of chess, announces the issue of a convertible loan note ("CLN") to Ilya Merenzon, its CEO and largest shareholder.

Mr Merenzon has recently disposed of 29.3 million ordinary shares ("Shares") in the Company and he has agreed to reinvest the expected net proceeds (after all related deductions) of £550,000 in the CLN.  The key terms of the CLN are as follows:

●    Convertible by Mr Merenzon in whole or in part at any time up until 29 June 2026;

●    Any unconverted amounts will automatically convert on 30 June 2026;

●     Conversion at 3.3 pence per Share, being the average price of the recent disposals by Mr Merenzon; and

●    Non-interest bearing.

Following his recent disposals, Mr Merenzon holds 375.22m ordinary shares in the Company, representing approximately 52.47 per cent. of the Company's issued share capital.

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

For more information, visit: www.worldchess.com or contact:

World Chess Ilya Merenzon, CEO	merenzon@worldchess.com
Novum Securities Limited - Financial Adviser David Coffman / Anastassiya Eley	+44 (0) 20 7399 9400

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 organised the FIDE Championship Matches in the USA, and the UK, and revolutionised 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 .

1.       

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ilya Merenzon

2.       

Reason for the notification

a)

Position/status

CEO

b)

Initial notification / Amendment

Initial Notification

3.       

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

World Chess plc

b)

LEI

213800BKR3RT23F9DN71

4.       

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary Shares of £0.0001

Identification code

ISIN:  GB00BN70RC41

b)

Nature of the transaction

Purchase or ordinary shares

c)

Price(s) and volume(s)

Price (s)	Volume (s)
£0.0345	9,300,000

d)

Aggregate information

- Aggregate volume

9,300,000

- Total Price

£320,850

e)

Date of the transaction

8/5/2025 and 9/5/2025

f)

Place of the transaction

London Stock Exchange

g)

Additional information

N/A

1.       

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ilya Merenzon

2.       

Reason for the notification

a)

Position/status

CEO

b)

Initial notification / Amendment

Initial Notification

3.       

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

World Chess plc

b)

LEI

213800BKR3RT23F9DN71

4.       

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary Shares of £0.0001

Identification code

ISIN:  GB00BN70RC41

b)

Nature of the transaction

Purchase or ordinary shares

c)

Price(s) and volume(s)

Price (s)	Volume (s)
£0.0325	20,000,000

d)

Aggregate information

- Aggregate volume

20,000,000

- Total Price

£650,000

e)

Date of the transaction

13/5/2025

f)

Place of the transaction

Outside of a trading venue

g)

Additional information

N/A

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.

END

DSHFLFIFEDIVLIE