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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").
On 27 March 2009, the board of Eidos announced that 85.03% of those Eidos shareholders present and voting in person and by proxy (representing 99.92% of the Eidos shares voted) had approved the Scheme at the Court-convened Court Meeting and that the requisite majority of Eidos shareholders had passed the proposed special resolution relating to the Scheme at the Extraordinary General Meeting of Eidos, both of which were held on 27 March 2009.
On 21 April 2009 the Court sanctioned the Scheme at the Court Hearing and that it also confirmed the associated Capital Reduction at that hearing. The Scheme has now become effective and the entire issued share capital of Eidos is now owned by SQEX.
Dealings in Eidos Shares on the London Stock Exchange was 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.
In consideration for the cancellation of their shareholdings, shareholders on Eidos' share register at 6.00 p.m. (London time) on 21 April 2009 will receive 32 pence in cash for each Eidos Share held. Any cash consideration due to holders of Eidos Shares held in uncertificated form will be paid via CREST, and any cheques in respect of any cash consideration due to holders of Eidos Shares held in certificated form will be despatched by no later than 6 May 2009.
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