Print          More announcements



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

16 April 2009

OFFER UPDATE

Recommended Cash Offer

for

Eidos plc ('Eidos')
by

SQEX Ltd ('SQEX')
a wholly owned subsidiary of 
Square Enix Holdings Co. Ltd

The Board of SQEX is pleased to announce that the statutory waiting period with respect to the filings made by the parties in connection with the Acquisition pursuant to United States Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired.  

In order to become effective in accordance with its terms, the Court must now sanction the Scheme and confirm the Capital Reduction at the Court Hearing. This hearing will take place on 21 April 2009. Following the sanction of the Scheme and the confirmation of the Capital Reduction by the Court, it is expected that the last day of dealings in Eidos Shares will be 21 April 2009 and the listing of Eidos Shares will be cancelled at 8.00 a.m. on 22 April 2009, the anticipated Effective Date of the Scheme. An expected timetable of principal events in set out in the Appendix to this announcement. 

Terms defined in the Scheme Document shall have the same meaning(s) when used in this announcement.  

Enquiries:
SQEX/Square Enix
Michihiro Sasaki	+81 3 5333 1144
UBS Investment Bank (Financial Adviser to SQEX/Square Enix)
Andrew Cowper Thomas Onions	+44 20 7568 0000

UBS Investment Bank is acting exclusively for SQEX and Square Enix and no one else in connection with the Acquisition and this announcement and will not be responsible to anyone other than SQEX and Square Enix for providing the protections afforded to clients of UBS Investment Bank, or for providing advice in connection with the Acquisition or any matter referred to herein.

This announcement does not constitute an offer or invitation to any person to subscribe for or purchase any securities in Eidos, whether in the United Kingdom or in any other jurisdiction.

Forward-looking statements

This announcement contains statements about SQEX, Square Enix and Eidos that are or may be forward looking statements. All statements other than statements of historical facts included in this announcement may be forward looking statements. Without limitation, any statements preceded or followed by or that include the words 'targets', 'plans' 'believes', 'expects', 'aims', 'intends', 'will', 'may', 'anticipates', 'estimates', 'projects' or, words or terms of similar substance or the negative thereof, are forward looking statements. Forward looking statements include statements relating to the following: (i) future capital expenditures, expenses, revenues, earnings, synergies, economic performance, indebtedness, financial condition, dividend policy, losses and future prospects; (ii) business and management strategies and the expansion and growth of SQEX's, Square Enix's or Eidos' operations and potential synergies resulting from the Acquisition; and (iii) the effects of government regulation on SQEX's, Square Enix's or Eidos' business.

Such forward looking statements involve risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward looking statements. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward looking statements, which speak only as of the date hereof. SQEX, Square Enix and Eidos disclaim any obligation to update any forward looking or other statements contained herein, except as required by applicable law.

Appendix

Expected Timetable of Principal Events

Event                                                                                                 Time and/or date (2009)

Suspension of listing and dealings in, and last date for registration of transfers of Eidos Shares	21 April
Scheme Record Time	6.00 p.m. on 21 April
Court hearing to sanction the Scheme and to confirm the Capital Reduction	21 April
Effective Date of the Scheme	22 April
Cancellation of listing of Eidos Shares	8.00 a.m. on 22 April
Latest date for despatch of cheques and settlement through CREST (if Scheme becomes effective on 22 April 2009)	6 May

These times and dates are indicative only and will depend, among other things, on satisfaction or waiver of the other Conditions, dates on which the Court sanctions the Scheme and confirms the Capital Reduction and the date on which the Court Order sanctioning the Scheme and confirming the Capital Reduction is delivered to the Registrar of Companies and such Court Order is registered by the Registrar of Companies.

ENDOUPCKPKNFBKDDQD