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PLAY MAGNUS AS

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Play Magnus Group (PMG) - Julius Baer Generation Cup: World's top chess stars compete in clash of ages

09/12/2022 | 05:02am EST
12.9.2022 11:00:01 CEST | Play Magnus AS | Non-regulatory press releases

(Oslo, 12 September 2022) - The Meltwater Champions Chess Tour, the world's
leading year-round chess circuit, is launching a new ground-breaking tournament
this month focused on the clash of ages. The eight-day Julius Baer Generation
Cup, the seventh leg of the $1.6 million Tour running from September 18 to 25,
will feature 16 world-class players spanning the age spectrum.

Top of the bill is World Champion Magnus Carlsen with Indian teen sensation 
Rameshbabu Praggnanandhaa. Nineteen-year-old American Hans Niemann will also
compete. Also in the 16-player line-up are two legends of chess in six-time
World Championship candidate Boris Gelfand and Ukraine's 53-year-old former
World Rapid Champion Vasyl Ivanchuk.

At 15, Christopher Yoo is the youngest in the competition. Along with Pragg and
Niemann, Yoo is joined by Vincent Keymer and Arjun Erigaisi in a cohort of
talented teenagers. Six players considered in their prime complete the line-up: 
Anish Giri, Levon Aronian, Liem Le, Radoslaw Wojtaszek, David Navara and the
exciting Croatian Ivan Saric. The final name will be the winner of the MPL
Indian Chess Tour Leg 3, which will be confirmed on Monday, September 12.

The tournament's theme is "generations in chess" and its coverage will highlight
the incredible inclusivity the game can promote. Chess, unlike many sports, is a
pursuit old, young and everyone in between can enjoy together not just as fans,
but in competition too at every level. Whether it's a casual game, or a match at
a super-strong level, chess is for everyone. 

The inaugural Generation Cup is being put on through a partnership between Swiss
private bank Julius Baer and Play Magnus Group. 

Marco Parroni, Head Global Sponsoring & Partnership Julius Baer, said: "The
Julius Baer Generation Cup with its inclusive intention marks an even deeper
involvement in the chess world for us.

"The commitment to the Generation Cup is a consistent step for us, after we
already supported last year's Challengers Chess Tour, a unique gender-balanced
chess event designed to promote new talent which we continue to support this
year as well."

The Julius Baer Generation Cup marks a fitting return to Julius Baer events for
Pragg, the 17-year-old from Chennai. Pragg won the 2021 Julius Baer Challengers
Chess Tour and earned qualification for the Meltwater Champions Chess Tour,
where he hit the headlines immediately in February with a memorable win over
World Chess Champion Magnus Carlsen.

Tour Director Arne Horvei said: "Together with Julius Baer, we are delighted to
present the seventh leg of the Meltwater Champions Chess Tour. The Tour is
heating up as we enter the final three events. We have the thrilling prospect of
Carlsen vs Pragg and all the players will be fighting for places in the third
and final Major in November."

Every move will be streamed live and for free on chess24.com/tour -
http://chess24.com/tour and on chess24's Twitch and YouTube channels.



ABOUT JULIUS BAER

Julius Baer is the leading Swiss wealth management group and a premium brand in
this global sector, with a focus on servicing and advising sophisticated private
clients. In all we do, we are inspired by our purpose: creating value beyond
wealth. At the end of June 2022, assets under management amounted to CHF 428
billion.

Bank Julius Baer Co. Ltd., the renowned Swiss private bank with origins dating
back to 1890, is the principal operating company of Julius Baer Group Ltd.,
whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and are
included in the Swiss Leader Index (SLI), comprising the 30 largest and most
liquid Swiss stocks.

Julius Baer is present in over 25 countries and around 60 locations.
Headquartered in Zurich, we have offices in key locations including Bangkok,
Dubai, Dublin, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Madrid, Mexico
City, Milan, Monaco, Mumbai, Santiago de Chile, São Paulo, Shanghai, Singapore,
Tel Aviv and Tokyo. Our client-centric approach, our objective advice based on
the Julius Baer open product platform, our solid financial base and our
entrepreneurial management culture make us the international reference in wealth
management.

For more information visit our website at www.juliusbaer.com

ABOUT THE MELTWATER CHAMPIONS CHESS TOUR

The Champions Chess Tour is the leading online chess Tour worldwide determining
the world's best chess player over a full competitive season of online chess.
The 2022 season begins in February 2022 and features 9 monthly tournaments
culminating in a Final in November 2022. The best chess players in the world are
competing in rapid chess. All games take place online on www.chess24.com -
https://chess24.us7.list-manage.com/track/click?u=d07f6cc121599f73e7b16646b&id=3
eaa305f47&e=9b9387130c with players competing for a total prize pool of over USD
1.6 million. For more information visit www.championschesstour.com -
https://chess24.us7.list-manage.com/track/click?u=d07f6cc121599f73e7b16646b&id=b
caeefa09d&e=9b9387130c. 

ABOUT PLAY MAGNUS GROUP

Play Magnus Group is a global leader in the chess industry focused on providing
premier digital experiences for millions of chess players and students. The
company offers elearning and entertainment services via its market leading
brands: chess24, Chessable, iChess, New In Chess, Everyman Chess, Silver
Knights, CoChess, Aimchess, the Play Magnus App Suite, and the Meltwater
Champions Chess Tour. The Group's mission is to grow chess to make the world a
smarter place by encouraging more people to play, watch, study, and earn a
living from chess.

Play Magnus Group is listed on Euronext Growth Oslo under the ticker PMG and
OTCQX® Best Market under the ticker PMGMF. For more information visit pmg.me -
http://pmg.me/.

DISCLOSURE REGULATION

This release is an announcement issued pursuant to legal information obligations
and is subject of the disclosure requirements pursuant to the Market Abuse
Regulation (MAR) Article 17 no. 1 and section 5-12 of the Norwegian Securities
Trading Act, and was submitted for publication by Arkus Fredriksson, Chief
Strategy Officer of Play Magnus Group.

CONTACTS

 * Arne Horvei, Tour Director, Play Magnus Group, arne@playmagnus.com 

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/16823864/1731/2322/Download%20announcement
%20as%20PDF.pdf

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
JULIUS BÄR GRUPPE AG -1.65% 53.6 Delayed Quote.-10.92%
PLAY MAGNUS AS 0.16% 12.32 Real-time Quote.-16.55%
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Financials (USD)
Sales 2021 21,5 M - -
Net income 2021 -18,8 M - -
Net cash 2021 17,3 M - -
P/E ratio 2021 -40,6x
Yield 2021 -
Capitalization 76,5 M 75,7 M -
EV / Sales 2020 13,4x
EV / Sales 2021 3,60x
Nbr of Employees 234
Free-Float 72,3%
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