World Chess - London Stock Exchange

[Roger de Coverly]

It was a low profile event in the chess world, but "World Chess", Agon as was, has now listed on the London Stock Exchange.

It was mentioned on the media thread because there was a piece in the Times. That was behind a paywall, but from the headline at least, the writer felt that "World Chess" was a long way behind the market leaders, presumably meaning chess.com and lichess.

Those familiar with shares and Company research can now find out more about this Company.

Here's a typical link of what's available.
https://www.hl.co.uk/shares/shares-sear ... -gbp0.0001

Mind you it may currently cost 8p a share to buy, but if you then sell you get 5p a share back.

Directors are named as
Executive Director, Chief Executive Officer Mr. Ilya Merenzon
Executive Director, Chief Operating Officer Mr. Matvey Shekhovtsov
Non-Executive Director Mr. Jamison Reed Firestone

Obviously we've heard of the first one, being instrumental on promotong chess by trying to prevent the forum and other sites discussing world championship games in real time.

I think Merenzon still has most of the shares.

[Joey Stewart]

Given that agon are the same people who attempted to copyright all games played in their tournaments can you really trust that they will not do something further shady like take millions of shareholder money and then issue billions of new shares to the directors to essentially make all the investors stake worthless.

I'd much rather buy into chess.com if they were available - of all the chess companies I have seen over the years they are one of the few that seem legitimately good at growing the business profitably

[Roger de Coverly]

can you really trust that they will not do something further shady like take millions of shareholder money and then issue billions of new shares to the directors to essentially make all the investors stake worthless.

GIven that they are now listed on the London Stock Exchange, that limits their ability to indulge in dubious practices. It may take however some convincing for the outside world to believe that the Company is worth what subscribing investors have paid for a minority interest.

In the longer run I might expect chess.com to buy them out, as they did with chessbomb and chess24.

[Brendan O'Gorman]

Am I right in thinking their press release claimed over 600 million "active" chess players worldwide?

[Roger de Coverly]

Am I right in thinking their press release claimed over 600 million "active" chess players worldwide?

That statistic does appear.

https://www.londonstockexchange.com/new ... t/15670019

Chess is a global mass participation sport with more than 600 million active players, with numbers increasing due to the growth of online platforms, however it is still much less commercialised than other sports. Market expansion remains in its early stages, and World Chess is well-positioned to take advantage of the sector's growth through online, in-person and hybrid chess events and activities, and by providing complementary product offerings to players, spectators, and partners.

[Ian Thompson]

Mind you it may currently cost 8p a share to buy, but if you then sell you get 5p a share back.

Hopefully, no-one bought them - https://www.hl.co.uk/shares/shares-sear ... -gbp0.0001.

[Roger Lancaster]

I'd much rather buy into chess.com if they were available - of all the chess companies I have seen over the years they are one of the few that seem legitimately good at growing the business profitably

Ultimate holding company is Flutter Entertainment which, in common with other gambling companies, is eschewed by most ESG investors.

[Ian Thompson]

Mind you it may currently cost 8p a share to buy, but if you then sell you get 5p a share back.

Hopefully, no-one bought them - https://www.hl.co.uk/shares/shares-sear ... -gbp0.0001.

Maybe I spoke too soon. For some reason, the price has jumped in the last week or so. If you'd bought at their low point and now sold you'd have more than trebled your money. What's caused the jump in price? I can't believe it's this press release from 9 July (see Company Announcements on the link above):

World Chess to host highly anticipated chess rematch

World Chess plc (LSE: CHSS), a leading chess organisation committed to enhancing the global mass market appeal of chess by introducing a variety of innovative chess-related activities, is excited to announce it will be hosting "Clash of Claims 2", a highly anticipated chess rematch running from 19 - 21 August 2024, as the first 'Clash of Claims' match between Vladimir Kramnik and José Alcántara ended in controversy.

Vladimir Kramnik, the 14th World Chess Champion, has been actively sharing evidence of what he believes indicates cheating in online chess tournaments. With the ease of access to software that could help players cheat, the results of some online tournaments have led to accusations of deception.

Following Vladimir Kramnik's claims, in June this year a hybrid approach was suggested with Kramnik playing against Grandmaster José Alcántara, a well-known online chess player, in a three-day chess event. This formed the first 'Clash of Claims' event, which was hosted at the Gran Vía Casino in Madrid and was a mixture of in-person board games and online matches via the Chess.com platform.

Due to several technical issues with the Chess.com host platform during the event, World Chess has invited the players to return for Clash of Claims 2, this time to be held in London and hosted on its Chessarena.com platform. This rematch will have stringent physical and online anti-cheating methods to address previous alleged shortcomings. Chessarena.com is the only online platform that has an anti-cheating engine approved by FIDE, the international governing body of chess.

Chessarena.com plans to leverage this event to highlight new platform features, including the introduction of in-game emoticons, and to promote a special 'Clash of Claims 2' marketing offer for new subscribers. This initiative reflects chessarena.com's strategy to intensify its marketing efforts and expand its market share.

The event will run from August 19 - 21 with live commentary from prominent figures in the chess community and interactive segments for viewers. Clash of Claims 2 will promote the mass market appeal of chess worldwide.

Ilya Merenzon, Chief Executive Officer of World Chess, said: "We are so excited to welcome these two renowned players, once again, to the stage to battle it out in London.

"World Chess and the FIDE Arena are looking forward to resolving once and for all the fair play allegations raised by Kramnik, and to enhance the reputability of online chess tournaments.

"We are confident chessarena.com will provide advanced anti-cheating measures and a superior platform from which the games will be hosted.

"Online chess is going through a major transformation right now. We are possibly witnessing the ultimate way to address all anti-cheating allegations - by taking an online dispute to the physical board, marking a truly hybrid approach."