SCi SHAREHOLDERS APPROVE EIDOS BID
Copyright 2005 www.tombraiderchronicles.com

[ May 13th 2005 ]

SCi Entertainment Group's acquisition of rival publisher Eidos plc came one step closer today as shareholders approved its proposed purchase at the company's AGM. This approval effectively seals Eidos' fate and prevents U.S. equity group Elevation Partners from being invited back to the bargaining table.

According to a statement released by Eidos: "SCi announces that at the Extraordinary General Meeting of the Company held earlier today, the resolutions necessary: (i) to effect the Offer for Eidos and the issue of up to 23,667,078 Offer Shares; and (ii) to effect the issue of 20,038,982 Placing and Open Offer Shares were approved."

A further meeting with SCi Entertainment Group's shareholders will take place on May 17 2005, with an announcement on the drawn out acquisition of Eidos pending.