EIDOS ISSUES ACQUISITION
Copyright 2005 Eidos plc
[ April 1st 2005 ]
will be aware, since the announcement of the recommended
cash offer of 50 pence per Eidos share by Elevation
Partners ("Elevation") on 21 March 2005 (the "Elevation
Offer"), a further offer for the Company has been
announced by SCi Entertainment Group Plc ("SCi")
in the form of one new SCi share for every six
Eidos shares (the "SCi Offer").
the relevant announcements, the Board has undertaken
discussions with both parties in relation to their
respective offers. These discussions are ongoing
as the Board continues to evaluate the merits
of the certain value represented by the Elevation
cash offer contrasted with the greater, but less
certain, current value of the SCi paper offer.
The Board intends to await further clarification
in relation to each offer and to take account
of any further developments before recommending
a final course of action which will be communicated
to shareholders in due course. In the meantime,
shareholders are advised to take no action.
of Eidos accept responsibility for the information
contained in this announcement save that the only
responsibility accepted by them in respect of
information relating to Elevation and the Elevation
Offer, and SCi and the SCi Offer respectively
(which has been compiled from public sources)
is to ensure that such information has been correctly
and fairly reproduced and presented.
as aforesaid, to the best of the knowledge and
belief of the Directors of Eidos (who have taken
all reasonable care to ensure that such is the
case), the information contained in this announcement
for which they accept responsibility is in accordance
with the facts and does not omit anything likely
to affect the import of such information.