NOVEMBER 3, 2016

Statement In Response To The First Circuit Court Ruling

We note the ruling by the First Circuit Court in Moscow in the case we brought against Chess24.

We did not fully expect a judgement in our favour due to the complicated nature of the case and limited time the judge has to consider the case (the average time that a judge in the Moscow Arbitration Court can spend on one case is only 48 minutes). We believe that the court has not properly addressed the documents and arguments and has declined to consider some of them in breach of procedural requirements, all of which has greatly affected the decision.

We will appeal the verdict this month and continue to protect our rights as the commercial rights holder to the World Chess Championship. We remain confident of a favourable outcome on appeal.

We have invested heavily to transform the broadcasting of chess and all responsible chess media websites will be able to show the live moves of the forthcoming World Championship Match through our official broadcast widget.

In addition these affiliate partner websites will financially benefit when any of their viewers upgrades to our premium pay-per-view 360 broadcast of the Match.

We believe that this approach will mean that chess fans all over the world can view the live games for free or, if they chose, pay for a spectacular interactive experience.

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