Business Update

World Chess PLC

27 February 2024

 

27 February 2024

World Chess Plc

("World Chess" or the "Company")

Business Update

World Chess Announces Strategic Updates and Celebrates Chess History with Special Edition Sets

World Chess plc (LSE:CHSS), a prominent chess organisation committed to enhancing the global mass market appeal of chess by introducing a variety of innovative chess-related activities, is pleased to provide updates on strategic developments, including the appointment of a Chief Marketing Officer, player acquisition metrics, and the continuation of its collaboration with FIDE.

Introducing Andrew Winton as Chief Marketing Officer

World Chess welcomes Andrew Winton, a marketing executive with a proven track record at Amazon, News Corp, EE, Sky, and Kaspersky, as the Chief Marketing Officer, a non-board position. Andrew's expertise will be pivotal in elevating World Chess's brand globally, spearheading innovative marketing strategies, and fostering a unified chess community. His leadership will enable the integration of the Company's diverse offerings, including chessarena.com, the official FIDE gaming platform, chess clubs, and the Armageddon Championship Series, under a cohesive brand identity.

Iconic Chess Pieces Take Center Stage

World Chess is proud to continue its collaboration with the International Chess Federation (FIDE) on the exclusive use of the World Chess Championship sets in the FIDE Championship Matches, the Candidates Tournaments and other elite events through 2024 and 2025. Designed by Pentagram for World Chess, this iconic chess set is one of the most popular chess sets in the world and is a key piece of the World Chess merchandising portfolio. The set is manufactured by World Chess for use in the Championship cycle and is also sold online and in premier retail outlets around the world, including Harrods, London.

Celebratory Special Edition Sets

Ahead of the FIDE Candidates Tournament in April 2024 and the FIDE World Championship Match in November 2024, the Company is excited to launch a special edition chess set. This limited edition set offers chess enthusiasts worldwide a piece of chess history.

FIDE Online Arena's Metrics

World Chess runs the official FIDE gaming platform, chessarena.com. Following the Arena 2.0 update in October 2023, World Chess is delighted to report growth in FIDE Online Arena's user base, which now has 740,000 registered users and includes 8,500 Pro members - paying members who have their own, unique FIDE ID. Following several marketing campaigns, the platform is reporting the direct cost of acquisition at €37 for its paid subscribers, well below the annual subscription price of €50, underscoring the platform's value and exclusive role as the only official gaming platform that is authorised to issue online ratings and titles recognised by FIDE.

Ilya Merenzon, Chief Executive Officer of World Chess, said: "We are delighted to welcome Andrew Winton as our Chief Marketing Officer. Engaging a talented and experienced CMO brings us experience and industry knowledge that will help us on our mission to take the next step into promoting chess as a modern sport. We have also been focused on product development, ensuring that we continue producing desirable products with modern designs that will engage the global chess community.

"As we look ahead, we look forward to developing World Chess as both a brand and community, whilst carefully managing our resources towards the scaling of marketing efforts across our entire ecosystem."

For more information, please visit https://worldchess.com/investors or contact:

World Chess Ilya Merenzon, CEO	Via Yellow Jersey PR
Novum Securities Limited (Joint Broker and Financial Advisor) David Coffman / George Duxberry Colin Rowbury	[phone]
Allenby Capital Limited (Joint Broker) Joscelin Pinnington / Tony Quirke (Sales) John Depasquale / Lauren Wright (Corporate Finance)	[phone]
Yellow Jersey PR Charles Goodwin Annabelle Wills	[phone]   [phone]

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 organized the FIDE Championship Matches in the USA, and the UK, and revolutionized 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.

 

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