World Chess CEO invests in company through CLN

LONDON - World Chess PLC (LSE:CHSS), a prominent chess organization known for its global chess events and digital platforms, disclosed today that CEO Ilya Merenzon has acquired a convertible loan note (CLN) in the company. This financial maneuver follows his recent sale of 29.3 million ordinary shares in the company.

The company, which is the official commercial partner of the International Chess Federation (FIDE), stated that the CLN issued to Merenzon is convertible at any point up until June 29, 2026, with an automatic conversion on June 30, 2026, if not exercised earlier. The conversion price is set at 3.3 pence per share, which corresponds to the average price of the shares Merenzon sold. The CLN does not bear interest.

Merenzon, who remains the largest shareholder even after the share disposal, now holds approximately 52.47% of the company’s issued share capital, equating to 375.22 million ordinary shares. The recent transactions involving the shares took place on May 8 and May 9, 2025, with an aggregate volume of 9.3 million shares at a price of £0.0345 per share, and on May 13, 2025, with 20 million shares at £0.0325 each.

The announcement of the CLN and share disposals was made in accordance with market regulations that govern the disclosure of inside information. The transactions took place on the London Stock Exchange (LON:LSEG) and outside of a trading venue, as detailed in the press release.

World Chess is known for organizing the FIDE Championship Matches and for developing Armageddon, a chess league suited for prime-time television. The company also operates FIDE Online Arena, the official chess gaming platform.

The news of this investment by the CEO is based on a press release statement and reflects the ongoing financial activities within World Chess PLC, providing insights into the strategic moves of its top management.

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