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 €0.07 each, raising €816,703 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.

Current stock price: 2.50p

12-month change: down 62%

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