IN BRIEF: World Chess subsidiary agrees EUR6 million loan facility
World Chess PLC - London-based chess promotor - Says subsidiary World Chess Events Ltd has entered into a EUR6 million loan facility agreement with an existing shareholder. The facility can be drawn down and repaid in tranches, with repayment including 4% interest per year and due by December 31, 2025. The initial tranche will be used to refinance an existing short term loan on improved terms, says the firm, with the remaining funds, if drawn down, to be utilised for additional working capital for an expanded marketing programme aimed at promoting chessarena.com. Read More