Titus Interactive, gearing up to take control of troubled Interplay next month at the company's Annual General Meeting, boosted its holdings in the company this week, raising its ownership stake from 34% to 51.5%.
Titus exchanged 336,070 convertible bonds into over 6 million Interplay shares on Tuesday, taking its holdings to 27.09 million shares, or just over half of the outstanding shares. That gives the French game the majority voting block at the Interplay's General Meeting next month and ensures that Titus's takeover will proceed. "This purchase raises Titus Interactive's voting rights and will enable, during the Annual General Meeting in September, a re-election of the board and a takeover of Interplay by Titus Interactive," Titus said in a statement.
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