42. Investment in subsidiaries

2021

2020

€m

€m

Investment in subsidiaries at beginning of the financial year

14.7

14.6

Movement related to share options allocated to employees in subsidiaries

0.7

1.0

Payments received on exercise of options

(1.0)

(0.9)

Investment in subsidiaries at end of the financial year

14.4

14.7

The Company’s principal subsidiaries at 31 December 2021 are as follows:

Name of subsidiary

Country of incorporation and operation

Principal activity

Irish Ferries Limited*

Ireland

Ferry operator

Eucon Shipping & Transport Limited*

Ireland

Container shipping services

Irish Continental Line Limited*

Ireland

Ship leasing

Irish Ferries Services Limited*

Ireland

Administration services

Belfast Container Terminal (BCT) Limited

Northern Ireland

Container handling

Irish Ferries (U.K.) Limited

United Kingdom

Shipping & forwarding agents

Eurofeeders Limited

United Kingdom

Shipping & forwarding agents

Irish Ferries (U.K.) Services Limited

United Kingdom

Administration services

Zatarga Limited

Isle of Man

Ship leasing

Contarga Limited*

Ireland

Ship leasing

Irish Ferries Finance DAC*

Ireland

Administration services

ICG Shipping (W. B. Yeats) Limited

Ireland

Non-trading

Irish Ferries International Limited*

Ireland

Ferry operator

*Companies availing of Companies Act 2014 exemption under S357

The Company in all instances owns 100 per cent of the issued ordinary share capital and voting rights attaching thereto in respect of all subsidiary companies.

The registered office for Irish Ferries Limited, Eucon Shipping & Transport Limited, Irish Continental Line Limited, Contarga Limited, Irish Ferries Services Limited, Irish Ferries Finance DAC, ICG Shipping (W.B. Yeats) Limited, and Irish Ferries International Limited is Ferryport, Alexandra Road, Dublin 1.

The registered office for Belfast Container Terminal (BCT) Limited is 1 Lanyon Place, The Soloist Building, Belfast BT1 3LP, Northern Ireland. The registered office for Irish Ferries (U.K.) Limited and Irish Ferries (U.K.) Services Limited is The Plaza Suite 4D, 100 Old Hall Street, Liverpool L3 9QJ, England. The registered office for Eurofeeders Limited is Collins House, Rutland Square, Edinburgh, Midlothian EH1 2AA, Scotland. The registered office for Zatarga Limited is 2nd Floor, St Mary’s Court, 20 Hill Street, Douglas, Isle of Man, IM1 1EU.