World Chess Share News (CHSS)

World Chess revenue plummets; loss widens on administrative costs

(Alliance News) - World Chess PLC on Friday said it saw its annual loss widen on higher costs, and also reported a drop in revenue.

TRADING UPDATES: Norcros sells Johnson Tiles UK; Trifast trading well

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

TRADING UPDATES: Windward extends LSEG pact; Vinanz eyes DTC trading

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

IN BRIEF: World Chess gets EUR800,000 equity investment at IPO price

World Chess PLC - London-based promoter of chess through chess-related activities - Existing shareholder, who isn't named, agrees to subscribe for 11.7 million new shares at EUR0.07 each, raising EUR816,703 for World Chess. The price is similar to the company's 6.25 pence initial public offering price back in April last year and well above World Chess's current market price. The funds will be received in five tranches between now and May. "We're delighted that an existing shareholder has committed to further increasing their investment in World Chess, emphasising their support in our company, and we look forward to providing further company updates in due course," says Chief Executive Officer Ilya Merenzon.

IN BRIEF: World Chess launches new weekly women's chess tournament

World Chess PLC - London-based promoter of chess through chess-related activities - Announces launch of Women's Wednesday Online Tournament Series, 'Swiss Queens Wednesday', in partnership with the International Chess Federation. Weekly event is aimed at elevating women's participation in the sport and will be hosted on the FIDE Online Arena platform. Tournaments will start January 31.

IN BRIEF: World Chess raises additional funds of EUR1.5 million

World Chess PLC - London-based promoter of chess through chess-related activities - Since its admission to the Main Market of the London Stock Exchange in April 2023 and raising gross proceeds of approx. GBP3 million of new funds in the process, says it has been executing its multi-channel strategy In September 2023, says it raised additional funds of approximately EUR1.5 million via a share subscription with a shareholder to support its growth projects. Chief Executive Officer Ilya Merenzon says: "Chess is one of the oldest sports in the world, yet it's one of the youngest in terms of commercialisation. It is World Chess's ambition to reinvent chess for new audiences and new experiences. Some aspects of chess, such as merchandising, have been ignored to date despite the immense rise in popularity globally. In 2023, our first year as a listed company, we invested in products, technology and processes and we now intend to deploy these for the benefit of the investors and the sport in general."

IN BRIEF: World Chess issues shares to development partner Engiscent

World Chess PLC - London-based promoter of chess through chess-related activities - Issues 2.9 million new shares at EUR0.07 per share in lieu of EUR200,000 in fees. The shares are issued to Engiscent Pte Ltd, a development partner of World Chess. The shares represent a 0.4% stake, as World Chess now has 670.1 million in total. "We are delighted that our long-term partners have chosen to become investors in World Chess," says Chief Executive Officer Ilya Merenzon. "We know they are genuinely interested in our sport and we look forward to working together to further develop chess."

EARNINGS: Jersey O&G and World Chess losses widen, Arecor narrows

(Alliance News) - The following is a round-up of earnings updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

IN BRIEF: World Chess raises EUR1.5 million from share subscription

World Chess PLC - London-based organiser of chess-related entertainment, including Armageddon chess league - Existing shareholder who isn't named subscribes for 21.7 million new shares at EUR0.07 per share, raising EUR1.5 million for the company. World Chess says the investment is payable in seven tranches between this month and March next year. "We are pleased that an existing shareholder has agreed to increase their investment in the company and look forward to sharing further news about the company's development and future plans in due course," says Chief Executive Officer Ilya Merenzon.

TRADING UPDATES: Aquila European says no hit from Siemens Energy woe

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

UK shareholder meetings calendar - next 7 days

IN BRIEF: World Chess aims to fuel "renaissance" with new Berlin club

World Chess PLC - London-based organisation seeking to promote "the mass market appeal of chess" - Announces official opening of World Chess Club Berlin on Unter Den Linden street in Berlin city centre. Venue will operate as a bar, events space, cafe and "concept chess shop". Company says location is ideal due to chess being popular in Germany and Berlin's "vibrant" cafe and bar scene. Opening is inspired by World Chess' aim to "reinvent the chess club culture" so that venues become social centres and part of mainstream society. The Berlin club will host city-wide and European chess events and will operate as headquarters for the Armageddon Chess Series. The 2023 series has already been filmed at the venue. World Chess intends to open more clubs in other countries, and says the Berlin venue is at the forefront of "the chess club renaissance".

EARNINGS UPDATES: Fidelity Special NAV up; Ferro-Alloy loss widens

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

World Chess raises GBP3 million as debuts on London's Main Market

(Alliance News) - World Chess PLC shares edged higher as it debuted on London's Main Market, though it raised less than it had initially hoped for.