Eidos Share Discussion Threads

[dealy] 06/2/2009 12:07

I wonder will we have to wait until then to hear about the bid approach?

[togglebrush] 06/2/2009 10:35

Interims due Thursday 26th February 2009. source company web site

[kooba] 05/2/2009 22:25

good review from telegraph for batman

"Batman: Arkham Asylum will easily be one of 2009's top titles."

[the crypt] 05/2/2009 14:12

lol lol where is that fool?

[the crypt] 04/2/2009 20:42

may the average player be mortified at the game play - not much better than cooking mama!!!!!

[queeny2] 04/2/2009 17:07

when batman out?

[the crypt] 04/2/2009 16:19

lol - lol - may the lols be pl;entiful and may dealy eat an extra large hotdog with fries!

[dealy] 04/2/2009 12:23

Time Warner just out with results. Would dearly love to see them make a bid for Eidos. I need the cash right now.

[the crypt] 04/2/2009 09:40

lol lol guys keep up the lols lol

[dirtyden] 03/2/2009 21:58

Oh and the shellshock game looks like one of those tarantinoesque themed 70's exploitation flicks. The wee bairns should love that one. Sickos!

[cocorico2009] 03/2/2009 21:52

Dirty Den - Addicts always find money to spend on their vice !!!!

[magic] 03/2/2009 07:12

Can anyone tell me what happens to a live spreadbet when a take over happens please?

[togglebrush] 02/2/2009 13:37

Shellshock2: Blood Trails ships 13th in UK and 24th in US. PS3, XBox360 and PC
UK £39.99, 29,99, 24.99. US $39.99 etc.

ShellShock 2: Blood Trails is an ultra-violent, survival horror FPS game set against the backdrop of the Vietnam War. Gameplay is centered on the use of psychological horror and fear, relying on the power of suggestion, mood, tension and foreshadowing to immerse players in a war that is worse than hell.

Source: Gamestop

[queeny2] 02/2/2009 13:35

the statement in essence said they were likely (they said may, but I think they will) to breach covenants, i don't recall anything about the life of the facility. what happens then is up to the bank. could be deferral with higher interest rate and more fees - ie transfer away from shareholders but still alive. More likely in my book is that Lloyds have asked for their money back in that event, ie put pressure on Board to sell company or assets.

depending on the communication with the bank, the Board cannot afford to get to April/May and find breach inevitable, bad practice.

Re lousy firm, I cannot see any argument about that! And currently, different from before, operating in an industry rife with profit warnings for no apparent sales-driven reasons.

[life of crime] 02/2/2009 11:42

I think the statement said they "may" need to roll over the debt. My impression was that they expect the games to sell in line with expectations but cannot be certain about the extent of disounting and its impact on profits.

Again, this is something the bank would need to consider, whether this is a short term problem caused by the recession or if there is a more fundamental problem, i.e. they are a lousy firm. I opt for the former and think Lloyds will feel the same way. It will be an interesting few months.

[darrens] 02/2/2009 11:08

loc, as you say "we shall see" but can I just pick you up on the cash burn point. They've said that they'll still need debt when the bank facility roles over, i.e. end of June.

Won't they already have released Just Cause 2, Battlestations, (and probably Batman) by then?

So, if they will have burnt through 35m+ releasing TRU, Just Cause 2, Battlestations and (possibly) Batman then it's difficult to see them suddenly going cash positive from a release schedule of Deus Ex 3, Mini-ninjas plus whatever else.

This is just my opinion, but it seems really clear that they just won't be able to, or be allowed to, try and trade their way out of this.

[dealy] 02/2/2009 10:54

I am with Life of Crime on this.

[life of crime] 02/2/2009 10:49

Darren, queeny I take your points re the cash burn, but in the last 12 months they have only released 2 games of note: Age of Conan and TR. If they had burnt through £35M having released most of their games for this FY, then I would share your pessimism, but as you know the schedule has been back ended and will generate a lot more cash flow.

Eidos are not going to ask for an increase to their overdraft, merely to defer the payment so I really think the negativity in not warranted. Having seen the trailers for ninjas and (more importantly) Batman I think the line up is exciting. There is also a preview and developers interview for BS on the US section of the Eidos site and that also looks very good. Of course, we'll have to wait for the reviews but so far so good.

I'll stick to my prediction that they will re-negotiate the debt, but if they do encounter difficulties, they should lobby the Culture minister and exploit their high profile status to put Govt pressure on the bank. TR's release date was a predictable (and predicted) screw up but they have moved to cut costs at CD and in the mobile division and that should earn brownie points with Lloyds. I believe they can trade their way out of this and see the current situation as a set back but not a disaster. We shall see.

[queeny2] 02/2/2009 09:41

agree. and re Lloyds, I think they would be infinitely happier with something for shareholders and their money back than rolling the dice again by extending with every likelihood they will have to put up more as well if they do. fwiw most employees outside UK of course as well.

[darrens] 02/2/2009 09:19

loc, you won't be surprised to hear that I can't share your optimism. While it's true that the Government is putting pressure on banks to try and extend debt to small businesses, that doesn't hide the fact that Eidos has burnt well over £35m in cash in the past twelve months and, even in good times, I think any bank would be very wary of lending to them.

Eidos could doubtless point to their "exciting" line-up of games over the next 12 months but I'm sure they talked about that a year ago too. And before that, and before that.

This new management team had their chance and they blew it and I think it is far too painfully obvious to them and everybody else involved (bankers, non-execs etc) that the only option to salvage anything for shareholders is to try and sell the company before it goes bust.

For the first time I think the company is going to be sold (normally I discredit all bid rumours around Eidos) but it's unlikely they'll be able to get a price that will make shareholders happy.

But it will be better than the alternative.