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News 
Titus OWNZ Interplay Entertainment
- Posted By Michael
Loewer, 08.16.2001
Titus Interactive Group (Euroclear : 5012 ; Reuters TITP.LN) today announced that it now owns 51.95% of Interplay Entertainment Corp. (Nasdaq:IPLY).
On August 13, 2001, Titus Interactive converted a portion of its shares of Series A Preferred Stock, owned since April 2000. 336,070 shares of the Series A Preferred Stock were converted into 6,679,306 shares of Interplay Common Stock. Following such conversion, 383,354 shares of Series A Preferred Stock continue to be registered in the name of Titus Interactive.
From now on, Titus Interactive is the largest stockholder of Interplay with 51.95% representing 27,554,122 shares of Interplay Entertainment Corp.
Titus’ shareholding in Interplay increases its voting rights and will allow the Group to take full control of Interplay by the re-election of Board during the Annual Meeting of stockholders of Interplay to be held in September 2001.
Titus Interactive will take the opportunity to explain its acquisition strategy after the Annual Meeting of stockholders.
Titus, a French company, had no comment on whether they had any plans to forget about the takeover and simply surrender, as is national tradition.
Quite honestly, even though I may continually invest in mutual funds and such, I'm no expert on investment strategy. Therefore, the above story is nearly identical to the news release itself, and I hope a few investment junkies out there found it interesting and helpful.
Finally, I do realize some people might see that first comment as anti-French. Please understand that this absolutely not the case. Being French, they're used to being beat-down all the time, and probably don't even feel it anymore.
Senior Editor Michael Loewer, signing off.
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