EIDOS WINS INITIATIVE APPROVAL
Copyright 2001 www.tombraiderchronicles.com Financial data courtesy of FT

[ June 19th 2001 ]

Eidos Interactive PLC, the UK games company which publishes Core Designs Tomb Raider video-game series, lost thirteen per cent off its share price yesterday after the company won approval on a new discount initiative aimed at raising £51.7m Eidos will sell one new share at 155 pence for every three shares held by existing shareholders to raise funds for the development of new video games.

Recent trading has seen the company shear 80 per cent off its share price in the last twelve months turning in operating losses valued at £53 million which were attributed to a series of failed merger talks, the resignation of it's chief executive and finance officer and the delayed rollout of Sony's Playstation II games console. Eidos recently sold the Tomb Raider motion picture rights to Paramount Pictures for a reported £1m but analysts have calculated the UK games publisher could rake in an estimated £13m from royalty rights and issues.