Freedom Holding Corp. to Be Title Sponsor of Landmark Chess Event in New York City

Rhea-AI Summary

Freedom Holding Corp. (NASDAQ: FRHC) will sponsor and compete in the 2024 FIDE World Corporate Chess Championship, a landmark event to be held from June 15-17, 2024, in New York City's historic Cunard building. The championship will feature top business leaders and chess stars, marking FIDE's 100th anniversary. CEO Timur Turlov emphasized the strategic parallels between chess and business. Sponsorships remain available, and ticket sales start on May 20, 2024. Freedom Holding Corp. operates in 19 countries, offering diversified financial services and employing over 6,000 people.

Positive

• Sponsorship of a high-profile event like the FIDE World Corporate Chess Championship enhances brand visibility.
• The event marks FIDE's 100th anniversary, aligning Freedom Holding Corp. with a significant milestone in chess history.
• The in-person championship in New York City may improve networking opportunities with global business leaders.
• Freedom Holding Corp. operates in 19 countries and employs over 6,000, indicating a strong international presence.
• The company is listed on NASDAQ under the symbol FRHC, providing transparency and potential investor confidence.
• Ticket sales for the event could generate additional revenue streams.

Negative

• Sponsorship costs may impact short-term financials without guaranteed returns.
• The event's success relies heavily on attendance and participation, which may be unpredictable.
• The focus on a chess event might divert attention from core financial services and operations.
• Potential dilution of investor interest if the event is perceived as non-core to business objectives.
• Uncertainty in global economic conditions could affect sponsorship and ticket sales.

Bringing the Brightest Stars in Chess from the Global Business Community Together for an Ultimate Chess Challenge

ALMATY, Kazakhstan & NEW YORK--(BUSINESS WIRE)-- Freedom Holding Corp. (NASDAQ: FRHC), a multi-national diversified financial services holding company, today announced its participation as a competitor and as the title sponsor of the landmark chess event, the 2024 FIDE World Corporate Chess Championship.

Hosted by FIDE, Fédération Internationale des Échecs (International Chess Federation), this three-day championship event will showcase the brightest stars in business and some of the biggest names in chess. Since the beginning of March, registered corporate teams have been competing online to qualify to participate in this elite battle for the title of Smartest Company in the World. And for the first time since the pandemic, the tournament will be an in-person, over-the-board experience, held from June 15 -17, 2024, in the heart of New York City's financial district in the historic Cunard building.

The Smartest Companies Know…

"The game of chess knows no borders and sets aside all politics,” said Timur Turlov, Freedom Holding Corp.’s Chairman and Chief Executive Officer. “Success in chess, like business, comes from thoughtful deliberation and strategic positioning. This partnership is a true reflection of Freedom and our approach to business - well-researched, collaborative, and intentional. We are delighted to be competing in, as well as being the presenting sponsor of, the FIDE World Corporate Chess Championship. We’ve invited leaders in business from across the globe to join the challenge," the CEO noted.

100 Years of Making Chess History…

Arkady Dvorkovich, president of FIDE, commented, "This year marks the 100^th anniversary of FIDE; our organization has a longstanding, rich history of building community and fostering growth and camaraderie among players and across continents. Hosting this event in partnership with the Freedom Holding Corp. team is the perfect way to mark this momentous celebration. A world-class event, presented by a world-class leader in business, at a world-class location, to continue supporting global unity through a common language and passion for chess."

Sponsorship: Make the Right Move for Your Organization…

Registration to compete has now closed. However, sponsorship opportunities remain available. VIP packages will include global brand awareness campaigns, meet and greet opportunities with the elite of chess and business, and so much more. For more information about sponsorships please contact, Ekaterina.Mashina@FIDE.com.

Get Your Tickets Now…

The countdown is on, and space is limited. Tickets go on sale May 20, 2024, at 12:00 p.m. ET, at www.freedomcapmkts.com/chess.

About Freedom Holding Corp.

Freedom Holding Corp. is a diversified financial services holding company conducting retail securities brokerage, securities dealing, market making, investment research, investment counseling, investment banking and underwriting services, consumer banking, insurance and several ancillary businesses which complement its core financial services businesses, through its subsidiaries, under the name Freedom Finance in Europe and Central Asia, and Freedom Capital Markets in the United States. Through its subsidiaries, Freedom Holding Corp. employs more than 6,000 people and is a professional participant in the Kazakhstan Stock Exchange, the Astana International Exchange, the Republican Stock Exchange of Tashkent, and the Uzbek Republican Currency Exchange and is a member of the New York Stock Exchange and the Nasdaq Stock Exchange.

Freedom Holding Corp. is headquartered in Almaty, Kazakhstan, and has operations and subsidiaries in 19 countries, including Kazakhstan, the United States, Cyprus, Poland, Spain, Uzbekistan, and Azerbaijan, among others.

Freedom Holding Corp.'s common shares are registered with the United States Securities and Exchange Commission and are traded under the symbol FRHC on the Nasdaq Capital Market, operated by Nasdaq, Inc.

To learn more about Freedom Holding Corp., visit www.freedomholdingcorp.com.

About FIDE

The International Chess Federation (FIDE) is the governing body of the sport of chess, and it regulates all international chess competitions. Constituted as a non-governmental institution, it was recognized by the International Olympic Committee as a Global Sporting Organization in 1999.

FIDE currently has its headquarters in Lausanne, but it was initially founded in 1924 in Paris under the motto “Gens una Sumus” (Latin for “We are one Family”). It was one of the very first International Sports Federations, alongside the governing bodies of the sports of football, cricket, swimming, and auto racing. It is now one of the largest, encompassing 201 countries as affiliate members, in the form of National Chess Federations. Chess is nowadays a truly global sport, with dozens of millions of players in all the continents, and more than 60 million games on average played every day.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240516395252/en/

Al Palombo (US)

Global Communications Chief

Freedom US Markets

+1 212-980-4400, Ext. 1013

apalombo@freedomusmkts.com

Anna Volkova (RUS)

Public Relations Director

FIDE

Anna.volkova@fide.com

Source: Freedom Holding Corp.

FAQ

What event is Freedom Holding Corp. sponsoring?

Freedom Holding Corp. is sponsoring the 2024 FIDE World Corporate Chess Championship.

When and where will the 2024 FIDE World Corporate Chess Championship take place?

The championship will take place from June 15-17, 2024, in the historic Cunard building in New York City's financial district.

What is the significance of the 2024 FIDE World Corporate Chess Championship?

The event marks FIDE's 100th anniversary and brings together top business leaders and chess stars.

When do tickets for the 2024 FIDE World Corporate Chess Championship go on sale?

Tickets go on sale on May 20, 2024, at 12:00 p.m. ET.

What is the stock symbol for Freedom Holding Corp.?

The stock symbol for Freedom Holding Corp. is FRHC.

How many countries does Freedom Holding Corp. operate in?

Freedom Holding Corp. operates in 19 countries.

How many employees does Freedom Holding Corp. have?

Freedom Holding Corp. employs over 6,000 people.

What type of services does Freedom Holding Corp. provide?

Freedom Holding Corp. offers a range of financial services including retail securities brokerage, securities dealing, market making, investment research, investment counseling, investment banking, underwriting services, consumer banking, and insurance.

How can one learn more about sponsorship opportunities for the 2024 FIDE World Corporate Chess Championship?

For more information about sponsorship opportunities, contact Ekaterina Mashina at FIDE.

What is the relationship between chess and business according to Freedom Holding Corp.'s CEO?

CEO Timur Turlov stated that success in chess, like in business, comes from thoughtful deliberation and strategic positioning.