EIDOS INTERACTIVE CONCLUDES SHARE INITIATIVE
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[ July 13th 2001 ]

Eidos Interactive, the company charged with publishing Core Designs Tomb Raider videogame, saw its share price increase 26.25 to 246.5p on the London stock market Thursday following the successful completion of a 51.7m rights-issue fundraising initiative which sees every third share offered at half price.

A positive performance from Paramount Pictures Lara Croft Tomb Raider motion picture, starring Oscar-winner Angelina Jolie, has fueled speculation that a sales increase in its videogame counterpart has helped shift the financial momentum of the troubled publishers. "We are delighted that the rights issue has been successful." Eidos Chief Executive Mike McGarvey told The Daily Telegraph yesterday. "The company has secured the resources so that it can benefit from the opportunities ahead.

Facing criticism over not launching a new Tomb Raider title to capitalize on the movie release and benefit from unprecedented publicity, a spokesman for Eidos told The Daily Telegraph: "Early indications are that the company has chosen the right strategy. We are very pleased with the level of Tomb Raider sales." With its foreseeable financial future stabilized, Eidos Interactive will now focus on developing titles for the upcoming next generation of games consoles which include the Sony PS2 and Microsoft XBOX.

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