Interplay Stockholders Approved Proposals

Interplay Stockholders Approved Proposals landed today, giving players another thing to circle on the calendar.

Interplay Entertainment is behind the announcement. Interplay Entertainment announced today that all of the proposals submitted to the Company’s stockholders at the meeting held yesterday, August 24, 1999, were approved by the vote of more than a majority of the Company’s outstanding shares.

The proposals included the approval of an agreement with Titus Interactive SA, pursuant to which Titus will purchase 6.25 million shares of Interplay Common Stock at a price of $4.00 per share. The Company will use the net proceeds of the sale for repayment of debt, additional working capital and other general corporate purposes.

Not as flashy as a new game trailer, but moves like this shape what ends up on the shelf later.