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As Of Filer Filing For·On·As Docs:Size Issuer Agent 7/03/06 World Gaming PLC 20-F 12/31/05 8:1.0M Edgarbiz Inc/FA |
Document/Exhibit Description Pages Size 1: 20-F Form 20-F 12-31-2005 HTML 891K 2: EX-21 List of Subsidiaries HTML 14K 3: EX-23 Consent of Hj & Associates, LLC HTML 7K 4: EX-31 Certification of Chief Executive Officer HTML 12K 5: EX-31 Certification of Chief Financial Officer HTML 12K 6: EX-32 Certification of Chief Executive Officer HTML 7K 7: EX-32 Certification of Chief Financial Officer HTML 7K 8: EX-99 Code of Ethics HTML 13K
EXHIBIT 21.1
LIST OF SUBSIDIARIES
| Subsidiary | Principal Activity | Type of Shares Held | Percentage Owned | Country of Incorporation | |||||
| WG International Ltd (3) | Holding Company | Ordinary | 100% | England & Wales | |||||
| Interactive Systems Inc. (1) | Licensing of Internet Gaming Systems |
Ordinary | 100% | Antigua | |||||
| WG Interactive Inc. (1) | Systems Administration | Ordinary | 100% | Canada | |||||
| World Gaming Europe Ltd (3) | Dormant | Ordinary | 100% | England & Wales | |||||
| SSII Ltd (2) | Dormant | Ordinary | 100% | Antigua | |||||
| EFS Caribbean Inc (2) | Dormant | Ordinary | 100% | Antigua | |||||
| EFS St Kitts Inc (2) | Dormant | Ordinary | 100% | Antigua | |||||
| Inphinity Interactive Inc (2) | Dormant | Ordinary | 100% | Canada | |||||
| World Gaming Services Inc (2) | Dormant | Ordinary | 100% | Antigua | |||||
| ESCE Inc. (2) | Dormant | Ordinary | 100% | Canada | |||||
| TIC Inc (1) | Dormant | Ordinary | 100% | Antigua | |||||
| DNI Holdings Limited (3) | Intellectual property holding | Ordinary | 100% | Antigua |
All of the above companies operate within their country of incorporation and their results have been included in these consolidated financial statements.
| (1) | Shares are owned by WG International Ltd |
| (2) | Shares are owned by TIC Inc. |
| (3) | Shares are owned by World Gaming Plc |
In December 2005, LVA Holdings Ltd, a wholly owned subsidiary of WG International was dissolved. All of the remaining subsidiaries owned by LVA Holdings Limited at this time were dormant. Ownership of these dormant subsidiaries was transferred to TIC Inc.
The shares of DNI Holdings Limited were acquired by the Company as part of the SPORTSBETTING.COM acquisition.
The Company holds a 50 percent interest in Bullen Road LP, a limited partnership between Interactive Systems Inc (“ISI”) and IOE Limited (“IOE”), a wholly-owned subsidiary of Sportingbet PLC. Bullen Road LP is an exempt limited partnership formed in the Cayman Islands as a result of the transaction with Sportingbet described at Note 5 and owns the gaming software operated by the Company. The General Partner is Gwladys Street Limited, a company incorporated in the Cayman Islands and is jointly owned by ISI and IOE. The Company is not required to make any capital contributions to the partnership beyond the initial transfer of the proprietary gaming software, which was done in the year. The net book value of the assets transferred was $nil. The partnership had no income or expenditure in the period ended 31 December 2005. Accounts have not yet been prepared for the partnership. Consistent with the accounting treatment of the Intellectual Property prior to its transfer to Bullen Road LLP, the Company’s share of the assets and liabilities of the partnership at 31 December 2005 has not been included in the consolidated financial statements. The cost and carrying value of the investment at 31 December 2005 was $nil in these financial statements.