REDWOOD CITY, Calif. & STOCKHOLM, Sweden--(BUSINESS WIRE)--Jan. 25, 2005--Electronic Arts EA Holding AB ("EA") today announced the completion of its offer to the shareholders of Digital Illusions CE AB (publ) ("DICE").
The acceptance period for EA's offer to the shareholders of DICE, made on November 15, 2004, expired on January 20. Shareholders with a total of 3,235,053 shares in DICE(1), including Bonnier & Bonnier AB and DICE employees with significant shareholdings, have accepted EA's offer. This corresponds to 32.0% of the outstanding capital and votes in DICE. In addition to the above-mentioned offer, EA has acquired 898,264 shares in the market corresponding to 8.9% of the capital and votes in DICE.
Together with the 18.9% of the outstanding capital and votes already held by EA, EA now holds a total of 6,044,720 shares, a controlling interest representing 59.8% of the outstanding capital and votes in DICE. Additionally, EA holds warrants in DICE priced at SEK 47.23 which, if exercised, would bring EA's holdings to 67.3% of DICE shares. EA has not yet declared its intentions on whether those warrants will be exercised.
EA declares that the conditions for the tender offer have been fulfilled. Payment of the offer price to shareholders who have tendered their shares pursuant to the offer will commence and the transaction will be completed on or about January 27, 2005.
EA reserves the right to acquire additional shares in DICE in the market.
(1) EA has also acquired the 1,500 warrants previously held by an individual in Canada. EA now controls all the 2,329,102 outstanding warrants in Digital Illusions. Each warrant entitles EA to subscribe for one Series A share.
About Electronic Arts
Electronic Arts (EA) (NASDAQ:ERTS - News), headquartered in Redwood City, California, is the world's leading interactive entertainment software company. Founded in 1982, EA posted revenues of USD 2.96 billion for the fiscal year ended March 31, 2004. The company develops, publishes, and distributes interactive software worldwide for video game systems, personal computers and the Internet. In 2003, EA had 27 titles that sold more than one million copies. EA markets its products under three brand names: EA SPORTS(TM), EA GAMES(TM) and EA SPORTS BIG(TM).
For more information, visit EA's homepage and online game site at http://www.ea.com.
About Digital Illusions
Founded in 1992, Digital Illusions is an award-winning developer of interactive entertainment based in Stockholm, Sweden, with offices in New York and London, Ontario Canada. The company has more than 200 employees and develops games in basically all existing platforms. Recent titles include Battlefield 1942 (elected Game of The Year) and Battlefield Vietnam for Electronic Arts, RalliSport Challenge 1 & 2 for the Microsoft Xbox. Digital Illusions' Series A share is listed on Nya Marknaden (an unofficial marketplace where smaller companies' shares can be traded in the Stockholm Stock Exchange's trading system, SAXESS) under the symbol DICE A.
For more information, visit Digital Illusions' homepage at http://www.dice.se.
This offer is not directed to persons whose participation requires a further prospectus, registration or measures other than those required under Swedish law.
The press release may not be distributed or released in any country in which distribution or the offer requires measures as stated in the preceding paragraph or is in contravention of the rules in such a country.
This announcement is a translation of the Swedish announcement and in the event of any difference between the two, the Swedish announcement will prevail.
Forward Looking Statements
Some statements set forth in this release contain forward-looking statements that involve risks and uncertainties. Statements including words such as "anticipate," "believe," "expect" or "hope" and statements in the future tense are forward-looking statements. These forward-looking statements are subject to business and economic risks and actual events or actual future results could differ materially from those set forth in the forward-looking statements due to such risks and uncertainties. Some of the factors which could cause such forward-looking statements to differ materially from expectations include the following: the possibility that EA's acquisition of DICE will not be completed or that the completion may be hindered or delayed; and other factors described in EA's Annual Report on Form 10-K for the year ended March 31, 2004 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2004. Neither EA nor DICE intend to update these forward-looking statements.