| World Gaming plc announces admission date to AIM |
World Gaming plc (OTC BB: WGMGY - News), a UK-based Internet-gaming software and e-business services group of companies ("the Company"), is pleased to announce its expected admission to trading its shares on the Alternative Investment Market ("AIM") of the London Stock Exchange commencing May 17, 2005.
Upon completion of an institutional offering, the Company has agreed a placing price of 52.5 pence per share on the placing of pnds stlg 2.5m worth of new ordinary shares with such institutional investors upon admission to AIM.
The Board believes that the key benefit of trading the Company's shares on AIM will be demonstrated through execution of its strategy to potentially find and acquire operators or other related businesses within the industry. The impending AIM listing has given the Company the opportunity to raise capital through institutional investment in the Company's shares together with the ability in the future to strategically use shares traded on the AIM as currency for its acquisitive strategy. It is expected that existing ADR holders will continue to trade their shares on the OTC.BB market; however, they will be invited to transfer their shares to the AIM market should they wish to do so. Existing ADR holders will receive an explanatory memorandum in this regard prior to admission of the Company to AIM.
Corporate background
World Gaming plc is a UK-based I-gaming software and e-business services Group. The Group is an international developer, licensor, and provider of online gaming products, including casino, sportsbook, and pari-mutuel betting. For more information about World Gaming plc, visit the Group's Web site at www.worldgamingplc.co.uk.
Interactive Systems Inc., a subsidiary of the Group incorporated and operating out of Antigua, licenses its gaming software to third parties for an initial licensing fee and monthly royalties. Alea Software Inc., in participation with World Gaming plc develops gaming software and web pages.
Contact: Investor Relations
World Gaming plc
investor.relations@worldgaming.com
Special note regarding forward-looking statements
We make certain forward-looking statements in this document within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Private Securities Litigation Reform Act of 1995 provides a safe harbour for forward-looking statements. To comply with the terms of the safe harbour, we note that a variety of factors could cause our actual results and experience to differ substantially from the anticipated results or other expectations expressed in our forward-looking statements. When words and expressions such as: "believes," "expects," "anticipates," "estimates," "plans," "intends," "objectives," "goals," "aims," "projects," "forecasts," "possible," "seeks," "may," "could," "should," "might," "likely," "enable" or similar words or expressions are used in this document, as well as statements containing phrases such as "in our view," "there can be no assurance," "although no assurance can be given" or "there is no way to anticipate with certainty," forward-looking statements are being made. These forward-looking statements speak as of the date of this document.
The forward-looking statements are not guarantees of future performance and involve risk and uncertainties. These risks and uncertainties may affect the operation, performance, development and results of our business and could cause future outcomes to differ materially from those set forth in our forward-looking statements. These statements are based on our current beliefs as to the outcome and timing of future events, and actual results may differ materially from those projected or implied in the forward looking statements. Further, some forward-looking statements are based upon assumptions of future events which may not prove to be accurate. The forward-looking statements involve risks and uncertainties including, without limitation, the risks and uncertainties referred to in our filings with the Securities and Exchange Commission, including our most recent Form 20-F.
We undertake no obligation to publicly update or revise any forward-looking statements as a result of future developments, events and conditions outside of our control. New risk factors emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ significantly from those forecast in any forward-looking statements. Given these risks and uncertainties, investors should not overly rely or attach undue weight to our forward-looking statements as an indication of our actual future results.
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Source: World Gaming plcSource: PR Newswire
Saturday, 7 May 2005
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