Printer Friendly

Takeover hope for games workers.

A SCOTS computer games king has made a last-ditch bid to save a rival firm and secure 60 jobs.

Entrepreneur Chris Van der Kuyl, 29, wants his Dunfermline-based VIS Interactive to take over Inner Workings, based in Glasgow, which suspended its shares on Tuesday.

Insiders say it could change hands for as little as pounds 1million.

VIS Interactive have confirmed they are in talks with Inner Workings, known to be urgently in need of a cash injection to fund new developments.

A takeover would give VIS a back-door route to a stock market listing.

Inner Workings is quoted on the Stock Exchange, VIS is not, and flotation has been a long-term aim for Mr Van der Kuyl.

VIS said in a statement yesterday: "Inner Workings is a business we know well and has a good reputation.

"We are interested in establishing the exact status of the firm with a view to making a formal offer and have contacted its advisers."

Inner Workings founder Lesley Keen, who still has a 37 per cent stake, admitted a deal would be struck at a price "substantially below its current market value".

Shares in Inner Workings were suspended at 18.5p on Tuesday, valuing a business originally worth nearly pounds 15million at just pounds 4.5million.

A VIS takeover would give Inner Workings staff their best hope of keeping jobs.

It would also be in line with the pounds 30million expansion plan announced by Mr Van der Kuyl in April. He aims to create 240 jobs across Europe in the next 18 months as he turns VIS into a world player.
COPYRIGHT 1999 Scottish Daily Record & Sunday
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999 Gale, Cengage Learning. All rights reserved.

 
Article Details
Printer friendly Cite/link Email Feedback
Author:Calder, Colin
Publication:Daily Record (Glasgow, Scotland)
Date:Jun 17, 1999
Words:267
Previous Article:Commit tee snub for left sparks Parly anger.
Next Article:PROMISE OVER DEATH CASE.
Topics:


Related Articles
Talks held in bid to ease job fears; MP ORGANISES MEETINGS TO DISCUSS THE THREAT OF JOB LOSSES.
Bus strike looms.
TV giant aims to dominate Scotland.
Sunday Mail Opinion; Keep the bank in safe hands.
Renewed hope for workers at plant.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters