Sugar in Learning buyback plan

By THIS IS MONEY
Updated: 19:00 EST, 2 July 2002

SIR Alan Sugar has unveiled plans to buy out the minority shareholders in Learning Technology, the computer group formerly known as Viglen, after admitting the company had failed to capture the City's interest.

He said he would offer no more than 40p a share for the 30.8% of Learning Technology he does not already own, prompting a 6p rise in the stock to 34 1/2p.

Sugar said: 'I have long been disappointed with Learning Technology's share performance and the lack of market interest in the company.'

Shares in Learning Technology, demerged from Amstrad in 1997, soared as high as 366p in 2000.