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Annual Report & Accounts 2007
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14 Related parties Identity of related parties The Group has a related party relationship with its subsidiaries (see note 14) and with its directors and executive of¢cers. Transactions with key management personnel Directors of the Company and their immediate relative’s control nil% of the voting shares of the Company as detailed below: 31 December 31 December In shares 2007 2006 Steve Barlow ^ 2,251,927 In addition to their salaries, the Group also contributes to a post-employment de¢ned contribution bene¢t plan on their behalf. The key management personnel compensations are as follows: Year ended 31 December Year ended 31 December In thousands of euro 2007 2006 Post-employment bene¢ts 46 22 Total remuneration is included in ‘‘personnel expenses’’ (see note 2): Year ended 31 December Year ended 31 December In thousands of euro 2007 2006 Directors 1,281 1,430 15 Group entities Signi¢cant subsidiaries Ownership interest Country of incorporation 31 December 2007 31 December 2006 Gaming VC (Cyprus) Limited Cyprus 100% 100% Gaming VC (Jersey) Limited Jersey 100% 100% GVC Corporation B.V. Netherland Antilles 100% 100% GVC Corporation II B.V. Netherland Antilles 100% 100% Gaming VC Corporation Limited Malta 100% ^ Gaming VC Corporation S.P.A Italy 100% ^ 16 Accounting estimates and judgements Management discussed with the Audit Committee the development, selection and disclosure of the Group’s critical accounting policies and estimates and the application of these policies and estimates (note 6). 17 Subsequent events There have been no subsequent events between 31 December 2007 and the date of the signing of these accounts that merit inclusion. 28