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Interplay explores strategic alternatives
Company News - posted by Vault Dweller on Wed 21 April 2004, 13:48:30Tags: Herve Caen; Interplay
Which means that they are not dead yet, unfortunately. Here is the official press-release.
IRVINE, Calif., April 20 /PRNewswire-FirstCall/ -- Interplay Entertainment Corp. (OTC Bulletin Board: IPLY - News) announced today that it has retained the investment bank SG Capital to assist with an evaluation of strategic alternatives designed to enhance value to Interplay's shareholders. SG Capital will provide, among other services, assistance with the Company's financing efforts as it attempts to secure additional capital for product development and operations. SG Capital will also assist the Company with general business strategy and advice regarding potential strategic transactions, including a possible sale of the Company or its operating units.Much-improved?
Commenting on the announcement, Interplay's Chairman and Chief Executive Officer Herve Caen said, "Management and the board do not believe that our current share price reflects the true value of the operations of our company. Accordingly, we have engaged SG Capital to explore strategic alternatives to improve and maximize shareholder value. We believe that their experience, capabilities and market focus fit the needs of Interplay and that SG Capital is uniquely qualified to assist the Company in this effort."
Mr. Caen continued, "With Interplay's recent return to profitability and the strong performance of our industry as a whole, management and the board believe that the time is right to explore strategic opportunities for a much-improved Interplay."