Online Casino Software firm trades on AIM
By emily
World Gaming plc has announced the commencement of trading on AIM under the symbol WGP. The Company has raised a total of £2,499,000 at 52.5 pence (US$1.00) per share. Daniel Stewart & Company plc is acting as Nominated Adviser and Broker.

Prior to October 2004, the Gaming Software was owned and developed solely by the Group through its wholly-owned subsidiaries. A joint venture agreement with Sportingbet Plc was entered in October 2004, pursuant to which the gaming software was transferred to an equally owned exempt liability partnership with Sportingbet.

4,760,000 new ordinary shares were placed, resulting in net proceeds of £2,029,000. The proportion of the enlarged share capital represented by the placing shares has been declared at 13 per cent and the number of ordinary shares in issue at admission has been quoted at 37,985,203. This results in market capitalisation at admission at the issue price of £19,262,632.

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