EXHIBIT 8.1
List of subsidiaries
| COUNTRY | OWNERSHIP % |
IBEX GLOBAL LIMITED | Bermuda | 100% |
Ibex Global Bermuda Ltd | Bermuda | 100% |
Ibex Global Solutions, Inc. | USA | 100% |
TRG Customer Solutions (Canada) Inc. | Canada | 100% |
Digital Globe Services, LLC | USA | 100% |
7 Degrees, LLC | USA | 100% |
Lake Ball LLC | USA | 47.5% |
TelSatOnline, LLC | USA | 100% |
iSky, LLC | USA | 100% |
Ibex Receivable Solutions, Inc. | USA | 100% |
TRG Marketing Solutions Limited | England | 100% |
Ibex Global Europe | Luxembourg | 100% |
Ibex Philippines, Inc. | Philippines | 100% |
Ibex Global Solutions Philippines, Inc. | Philippines | 100% |
Ibex Global St. Lucia Limited | St. Lucia | 100% |
Ibex Global Jamaica Limited | Jamaica | 100% |
Ibex Global Solutions Nicaragua S.A. | Nicaragua | 100% |
Ibex Honduras S.A. de C.V. | Honduras | 100% |
Virtual World (Private) Limited | Pakistan | 100% |
Ibex Global Solutions (Private) Limited | Pakistan | 100% |
Ibex Global Solutions Senegal S.A. | Senegal | 100% |
Ibex Global Solutions France S.a.r.l. | France | 100% |
DGS LIMITED | Bermuda | 100% |
DGS (Private) Limited | Pakistan | 100% |
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