Eidos Share Discussion Threads

[the crypt] 06/3/2009 09:01

may the teeth be bit

[the crypt] 05/3/2009 15:14

lol nocky - what kinda rubbish are you sprouting now????

[incorrigible] 05/3/2009 07:03

no - i'm sure you're right it was no accident; i followed your posts and you called the company spot on all the time; as others said if you had run it things could have turned out differently

[togglebrush] 04/3/2009 16:37

See RNS: In brief :-

These times and dates are indicative only

Court and EGM 27 March
Effective Date 22 April
Pay Day 6 May

[darrens] 04/3/2009 16:14

lol, yes indeed. I'd like to think that my obsessive analysis of the company and its products had something to do with my good timing but perhaps I'm kidding myself ;)

[incorrigible] 04/3/2009 15:12

Darrens - funny to think that you retired off of a company that eventually almost went bust; shows how much timing matters!

[the crypt] 04/3/2009 14:52

LOL - YOU GUYS REALLY CRACK ME UP!!!!!!!!!!!!!!!1 LOL WAIT FOR THE MIGHTY BID!!!!!!!!!! LOL LOL LOL

[the crypt] 03/3/2009 15:07

lol Dealy - gosh dillow that strange morph has gone away!

[gnnmartin] 27/2/2009 11:14

I'm losing what small hope I had that a larger bid might come along. I was intrigued by the news (on 25th) that Liberty Square Asset Management had sold 5m shares at 32.06, and had short CFDs on another 2.5m at the same price. I guess that was just an arbitrage position being unwound, but the coincidence of the name 'Square' left me a touch nervous that it might be a bit of Square Enix preparing for a retreat. :-O
Nigel Martin

[dealy] 27/2/2009 10:59

Darren

I agree. If the company is genuinely worth more then a counter offer will come in.

No board can dis-recomend an offer right now that offers a substantial premium to the current share price. Investors are not obliged to accept any offer.

Personally I think there would be other offers if the market was not in its worst single state in history.

[darrens] 27/2/2009 10:45

Well...the Board have managed to get a buyout at a share price equivalent to where the company was last Summer and that is pretty incredible. I think they've screwed up the last 12 months in terms of running the company but they've done one hell of a good job getting a 32p offer out of Sqenix.

The interims are all over the place, perhaps on purpose, perhaps because it doesn't matter (and you can pick what you want out of its schizophrenic mess) but given the state of the stock markets and the state of the company then getting 32p out of sqenix is something the Boards she be congratulated on.

queeny says the Japanese always overpay and there's nothing here to contradict that.

[zelig] 27/2/2009 10:26

Togglebrush - 27 Feb'09 - 07:51 - 980 of 982

Phil Rogers may be an in-house politician but on my reading of the results, and other RNS reports, he is not Commerical Executive material. The phraseology, attitude, and hesitancy are all wrong

Couldn't agree more. When I saw the RNS earlier in the year announcing the poor TRU sales etc I was seething. The whole deal has definitely been set up to benefit a small group of people IMHO. I also understand that the employee share options are at 35p!

[suferringmackeral] 27/2/2009 08:54

For this company to be profitable on their own they need to release at least two titles a year that sale as much if not more than Tomb Raider. At this point they only seem capable of releasing one. That's a big turnaround...

[life of crime] 27/2/2009 08:03

Well, the results are not as bad as feared. TRU is outselling TRL over the same period and is expected to match its total sales of 4.5M. They are not expecting to breach their covenants but even if they do, the bank have written to confirm they would look positively at a request to amend those covenants if necessary, as I expected.

This begs the question, why sell now when the share price was so low. This smacks to me of the board being made "an offer they can't refuse", ie bonuses all round and cushy jobs in the new set up. I bet the institutions who have agreed to back the bid will be having second thoughts about this. The trading statement was exagerated and seemed designed to bounce shareholders into aceetping Square's offer. If nothing else, it may tempt the likes of Ubi and EA from the sidelines.

This statment only confirms my view that they should continue as an independent group, improve the share price and then sell from a stronger position. However, the appetite may not be there from the institutions, as was the case with Superscape, and they may just be glad to see the back of it. In the worst case, if it does go through, then Square will look like a good investment at the bargain price they are paying for Eidos.

[togglebrush] 27/2/2009 07:51

Phil Rogers may be an in-house politician but on my reading of the results, and other RNS reports, he is not Commerical Executive material. The phraseology, attitude, and hesitancy are all wrong.

He doesn't Walk the Walk. He doesn't Talk the Talk

It is also bad form that:-
a) His rights issue was at 35p in May 2008
b) He bought his own shares at 31.5p in September 2008
c) He is recommending selling the company at 32p in February 2009

[togglebrush] 27/2/2009 07:03

Interims Out

Financial Highlights

* Revenue of GBP80.3m (2007: GBP63.4m) increased 26.7% primarily following the launch of Tomb Raider: Underworld.

* Adjusted EBITDA1 of GBP1.5m (2007: Adjusted EBITDA Loss GBP73.0m) reflects the completion of the first year of the Group's three-year strategic plan.

* Loss before tax of GBP9.8m (2007: GBP81.4m). Adjusted2 loss before tax of GBP1.0m (2007: GBP75.1m loss).

* Basic loss per share of 3.0p (2007: 96.2p). Adjusted3 loss per share of 0.7p (2007: 88.2p).

* Net debt of GBP3.2m (2007: GBP5.7m).

* Tomb Raider: Underworld sold in 2.6m units and at approximately 1.5m units sell through is outselling the two most recent iterations of the game over the same period, but lower than the initial plan set.

* Estimated full year revenue will be in the range of GBP160 - GBP180m.

Operational Highlights
* First year of the Group's three-year strategic plan complete.
* Studio-led model implemented with the Group now focused on key franchises.
* Enhanced product assessment Green Light process implemented across the Group for all future projects.


Post period Highlights

* On 12th February 2009 the Board recommended an offer from Square Enix to acquire the entire issued and to be issued ordinary share capital of Eidos at 32p per ordinary share.

* Tomb Raider: Underworld now released on all planned formats worldwide, including PlayStation 2. Tomb Raider: Underworld Premium Downloadable Content released on 24th February 2009 with additional content due for release in March.

* Reduced headcount at Crystal Dynamics and closure of Rockpool Games and Morpheme Game Studios as part of reducing costs and improving operating mechanics.

* Further titles to be released in second half include the much
anticipated Batman: Arkham Asylum, Battlestations: Pacific and Championship Manager 2009.

[darrens] 26/2/2009 11:48

Yes, it is a bit odd that results aren't out. But they haven't RNS'd the date to the market, they've just stuck it on their website which probably isn't as formal.

[togglebrush] 26/2/2009 08:01

Results are NOT OUT YET. Missed the usual 7.00am target.

[arc2006] 25/2/2009 11:43

Didn't the same happen with SCI?? Last minute bid

[dealy] 25/2/2009 11:31

At Isoft a rival bid came in after the court approval.

[togglebrush] 25/2/2009 07:19

From the Offer Document:

It is expected that the Court Meeting and the Extraordinary General Meeting will be held in March 2009 and that the Scheme will become effective before the end of April 2009.

Interims tomorrow may offer more clues.

[magic] 25/2/2009 06:41

what is the last day for a rival bid to come in??

[zelig] 23/2/2009 12:51

Bid now 32.32.