As shareholders 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").
Since 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.
The Directors 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. Subject 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.
Eidos Public Limited Company +44 (0)20 8636 3000 John van Kuffeler, Chairman Mike McGarvey, CEO or Brunswick (UK) +44 (0) 20 7404 5959 Jonathan Glass Wendel Verbeek or Brunswick (NY) Nina Devlin, +1 212 333 3810 or UBS Investment Bank (financial adviser to Eidos) +44 (0)20 7567 8000 Adrian Haxby Benjamin Robertson