Eidos Shares Suspended Pending Announcement
Square and Eidos marriage nearly consummated
BritSoft legend, Eidos has seen its shares temporarily suspended by the Financial Services Authority "at the request of the company pending an announcement". This announcement will, of course, be that Square Enix's acquisition of the company is complete.
The suspension is totally according to the schedule set out by Square and Eidos back in March.
On 12 February 2009, the Boards of Eidos and SQEX announced that they had reached agreement on the terms of a recommended acquisition of the entire issued and to be issued share capital of Eidos by SQEX, a company wholly owned by Square Enix Holdings Co. Ltd ("Square Enix"), to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme").
It follows the announcement from Eidos that, "The Board of Eidos is pleased to announce that the Court sanctioned the Scheme at the Court Hearing held today and that it also confirmed the associated Capital Reduction at that hearing.
As previously announced, the Scheme is expected to become effective on 22 April 2009 following the delivery of the Court Order to the Registrar of Companies and the registration by him of such Court Order. Dealings in Eidos Shares on the London Stock Exchange will be suspended from 5.00 p.m. (London time) on 21 April 2009 and Eidos Shares will cease to be listed on the official list maintained by the UK Listing authority and will be cancelled at 8.00 a.m. (London time) on 23 April 2009, not on 22 April 2009 as previously announced."
So, farewell then Eidos, and hello to the new dawn.
The suspension is totally according to the schedule set out by Square and Eidos back in March.
On 12 February 2009, the Boards of Eidos and SQEX announced that they had reached agreement on the terms of a recommended acquisition of the entire issued and to be issued share capital of Eidos by SQEX, a company wholly owned by Square Enix Holdings Co. Ltd ("Square Enix"), to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme").
It follows the announcement from Eidos that, "The Board of Eidos is pleased to announce that the Court sanctioned the Scheme at the Court Hearing held today and that it also confirmed the associated Capital Reduction at that hearing.
As previously announced, the Scheme is expected to become effective on 22 April 2009 following the delivery of the Court Order to the Registrar of Companies and the registration by him of such Court Order. Dealings in Eidos Shares on the London Stock Exchange will be suspended from 5.00 p.m. (London time) on 21 April 2009 and Eidos Shares will cease to be listed on the official list maintained by the UK Listing authority and will be cancelled at 8.00 a.m. (London time) on 23 April 2009, not on 22 April 2009 as previously announced."
So, farewell then Eidos, and hello to the new dawn.
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