UNITED KINGDOM – LONDON, United Kingdom -- World Gaming plc (OTC BB: WGMGY), 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.
