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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Eidos | LSE:EID | London | Ordinary Share | GB0007641797 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 31.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:7711K SCI Entertainment Group PLC 07 April 2005 SCi Entertainment Group Plc ("SCi") Eidos Board recommend SCi offer SCi has received confirmation that the board of Eidos PLC has recommended SCi's offer to acquire Eidos. On 22 March 2005 SCi announced the terms of an all share offer to be made by KBC Peel Hunt Ltd on behalf of SCi for the whole of the issued share capital of Eidos. The current implied value of the SCi Offer is 72.8 pence per share based on the closing price of SCi shares on 6 April 2005. SCi believes that the SCi Offer represents an excellent opportunity for Eidos shareholders to invest in a major computer games publisher with financial strength at a time when the global market has never been bigger. We are very pleased that the Offer has already received strong backing from the institutional shareholders of Eidos who have so far given irrevocable undertakings to accept the Offer in respect of approximately 41 per cent of Eidos' share capital. The board of SCi welcomes the support of the Eidos board and draws the attention of Eidos shareholders to the following points: *SCi has a strong record of profitable growth, delivering record turnover and profits in each of the last three financial years. *Following the acquisition of Eidos, SCi will be a major player in the global video games industry with a portfolio of very strong competitive brands including Tomb Raider, the Conflict series and Hitman. SCi will continue to focus its efforts on generating profitable growth offering significant potential rewards for shareholders. *SCi has a track record of international success, publishing in over 60 countries. The Board has a clear strategy for managing Eidos alongside its existing business, in line with the successful management of its own in-house development studio Pivotal Games. *SCi looks forward to working with key Eidos employees, who will benefit from being part of a growing and well funded business. Eidos employees will become part of new SCi share incentive plans. SCi encourages Eidos shareholders to support the SCi Offer and benefit from the exciting prospects of the new business. Commenting on the news, Jane Cavanagh, Chief Executive of SCi said, "We are pleased that the Board of Eidos is recommending our offer to its shareholders. We firmly believe that our offer is in the best interests of both SCi and Eidos shareholders and Eidos employees. The prospects for the enlarged group are very positive." For further information, please contact: Jane Cavanagh, Chief Executive Rob Murphy, Finance Director SCi Entertainment Group Plc Tel: 020 7350 5240 David Davies/ Jonathan Marren KBC Peel Hunt Ltd Tel: 020 7418 8900 For media enquiries: Nick Lambert / Robin Tozer Bell Pottinger Corporate and Financial Tel: 020 7861 3891 For investor enquiries: Neville Harris IR Focus Tel: 020 7379 7033 The Directors of SCi accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Directors of SCi (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information. This information is provided by RNS The company news service from the London Stock Exchange END MSCSSAFEWSISEEL
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