Following negotiations with Titus Interactive, Interplay’s largest stockholder, Interplay has nominated a number of individuals for election as directors at their annual meeting.
As part of the agreement, three of Interplay’s existing Directors have resigned and three new directors nominated by Titus were elected to fill the vacancies. The new Board consists of five individuals nominated by Titus and two directors previously nominated by management. In addition, Interplay is retaining consultants Europlay 1 as its exclusive advisor to effect a restructuring of the company.
According to Phil Adam, Vice President of Business Development, “the company has several promising high-profile products in development. I believe the development talent is second-to-none, and the new personnel and new perspectives we have added will help us to exploit our key properties going forward.”