Titus is suspended

Odin

Odin

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According to this newsbit on Yahoo Finance, the shares for Titus Interactive is suspended in preperation for an official statement. Rough translation:<blockquote>The trading of Titus Interactive shares was suspended monday on the Paris stock exchange, circa 11/26 AM, at a last traded value of 0,16 Euro (-5,58%), announced today Euronext.
This suspension was made by request of the videogames company in preparation for the release of an oficial statement. Titus Interactive is the holder of american group Interplay Entertainement Corp.</blockquote>Official statement eh?! Thanks goes out to Briosafreak for informing us.
Link: Titus is suspended
 
Will_c said:
An official statement.. my money is on this being bad.
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I think Herve will come out and remind us that their stock is still trading, and therefore there is nothing wrong.
 
Jiles said:
Will_c said:
An official statement.. my money is on this being bad.
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I think Herve will come out and remind us that their stock is still trading, and therefore there is nothing wrong.
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Someone should photoshop a pic of Comical Ali behind a podium with Titus' or I'play's logo on it... that's what Herve is doing right now.
 
I think Herve will sprout gigantic dragon wings and fly away to Faerun. Now that would be a fucking surprise.
 
Interplay, the cockroach of the gaming community, lives on in the Caen brothers' one room shack. To avoid prosecution, they plan on moving operations onto a houseboat. To cover expenses, they plan on floating more stocks and lying to their shareholders. More news as it develops.

Rat bastards.
 
The announcement is out, i`m working on a translation. Basically Titus was placed on judicial control, they now have 4 to 6 months to put the company in good shape, or it will be liquidated by the courts. Every decision, payement or contract has to go through the eyes of a judge, if he thinks they aren`t beeing succesfull in recovering the company he can close the company immediatly, even before the six months period. Three subsidiaries were also placed in this regime, SOFRA, GIE and Avalon. Titus says they intend to try to negotiate the sell of assets.


http://fr.biz.yahoo.com/040608/27/3ucra.html

I`ll try to gather more info a bit later

Edit: Better yet, here`s the original newsbit, i`ll try to get a rough translation a bit later.


REDRESSEMENT JUDICIAIRE !


Il y avait bien des raisons de s'alarmer de l'état de santé de Titus Interactive. Alors que la cotation a été suspendue hier, sur un dernier cours de 0,16 euro, l'éditeur de jeux vidéo annonce aujourd'hui que le Tribunal de commerce de Meaux a placé la société et trois de ses filiales en redressement judiciaire. Outre Titus Interactive SA, sont donc concernées par cette procédure les entités Sofra Jeux (édition), GIE Titus Interactive (filiale administrative) et Avalon France (distribution en France).

Une période d'observation a été mise en place, jusqu'au 6 septembre 2004. Des négociations devraient se poursuivre en vue de céder certains actifs et autres entités du groupe. On pense tout naturellement à la filiale américaine Interplay, aucunement citée dans le communiqué (dernier cours de 5 cents aux Etats-Unis).

La cotation reste suspendue jusqu'à nouvel ordre. Le titre a perdu les trois quarts de sa valeur depuis le début de l'année.
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Here

This site speculates that the asset they intend to sell is no more than Interplay.
Shares remain suspended in the Paris stock exchange.
 
A rough translation, although my French is a tad rusty:

Fifi, you're fucked from both sides of the Atlantic. You're a collossal fuck-up on two continents. A joke on several more. You had better spend your remaining money on a good lawyer to try and plea in the upcoming court battles, and dry-cleaning for the French maid's outfit in prisoner orange. I doubt you'll be able to avoid that last one.

Fifi Goes to Club Fed and Fifi Serves <s>in</s> ^on the Foreign Lesions.
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Briosafreak said:
REDRESSEMENT JUDICIAIRE !


Il y avait bien des raisons de s'alarmer de l'état de santé de Titus Interactive. Alors que la cotation a été suspendue hier, sur un dernier cours de 0,16 euro, l'éditeur de jeux vidéo annonce aujourd'hui que le Tribunal de commerce de Meaux a placé la société et trois de ses filiales en redressement judiciaire. Outre Titus Interactive SA, sont donc concernées par cette procédure les entités Sofra Jeux (édition), GIE Titus Interactive (filiale administrative) et Avalon France (distribution en France).

Une période d'observation a été mise en place, jusqu'au 6 septembre 2004. Des négociations devraient se poursuivre en vue de céder certains actifs et autres entités du groupe. On pense tout naturellement à la filiale américaine Interplay, aucunement citée dans le communiqué (dernier cours de 5 cents aux Etats-Unis).

La cotation reste suspendue jusqu'à nouvel ordre. Le titre a perdu les trois quarts de sa valeur depuis le début de l'année.
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TRANSLATION: (sorry for any errors, we never learnt any 'business terms' in French)

LEGAL RECTIFICATION!

There are plenty of reasons to be alarmed by Titus' current health status. When the quotation has been suspenced yesterday, at a final course of 0.16 €, today the video games producer announces that the Tribunal of Commerce of Meaux has placed the society and three of his daughters under legal rectification. Those daughters are Sofra Games (a development company), GIE Titus interactive (the administrative part of Titus) and Avalon France (distribution in France).

An observation period has been enstated, lasting until the 6th of September 2004. Negociations will continue, to yield certain activae and parts of the Titus group. One naturally thinks of the American entity Interplay, as cited in the official statement. (the last course of Interplay was 5 cents in the USA).

The quotation remains suspended untill further order. The stocks have lost 3/4th of their value since the start of the year.
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Ok this newsbit is more clear:
New victim of the videogaming sector Titus Interactive and three of the company subsidiaries were placed yesterday in redressement judiciaireby the Commerce Court of Meux. Titus now has a period of observation of three months , until the 6 of September, in order to sell certain assets.
Trade of Titus shares was suspended yesterday waiting for this announcement. This suspension remains effective until further notice.
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Rough translation from this original in French

And thanks Jebus :ok:
 
Roshambo said:
A rough translation, although my French is a tad rusty:

Fifi, you're fucked from both sides of the Atlantic. You're a collossal fuck-up on two continents. A joke on several more. You had better spend your remaining money on a good lawyer to try and plea in the upcoming court battles, and dry-cleaning for the French maid's outfit in prisoner orange. I doubt you'll be able to avoid that last one.

Fifi Goes to Club Fed and Fifi Serves <s>in</s> ^on the Foreign Lesions.
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Now THAT was funny. :D

Briosafreak said:
This site speculates that the asset they intend to sell is no more than Interplay.
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That's funny too.
 
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