Amstrad is to be broken up, 29 years after it first began trading.
The move will see Viglen, its direct PC business, spun off and floated on the London Stock Exchange.
Company chairman Alan Sugar, who founded Amstrad in 1968 and owns 34% of the company, could make up to #140 million from the break-up with a further #200 million in cash expected to go to company shareholders, reports suggest.
Each Amstrad shareholder will receive a share in Viglen, a pro-rata share of Amstrad's holding in Betacom, the company's consumer electronics business, and a share in proceeds from on-going litigation. Sugar sold the company's mobile phone business, Dancall, to German group Bosch in April.
Amstrad itself will remain as a non-trading shell until the on-going litigation is settled. The company is currently seeking damages from Seagate and Western Digital over faulty disk drives.
Amstrad will be pulled from the London Stock Exchange and replaced with a new company, Viglen Technology, which will be the holding company for the direct PC business and the non-trading Amstrad. Viglen Technology is expected to float at the beginning of August.
According to Bordan Tkachuk, managing director of Viglen, the company aims to take a 20% share of the direct PC market.
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