Sale of Admiral trademarks

RNS Number : 6934M

International Brand Licensing PLC

28 May 2010

 



INTERNATIONAL BRAND LICENSING PLC

("IBL" or the "Company")

Sale of Admiral trademarks in the UK and Ireland

International Brand Licensing Plc (AIM: IBL), which has recently re-focussed on building a business within the in vitro diagnostic devices market, announces that it has sold the rights to the Admiral sports brand in the UK and Ireland and in certain other territories in North Africa and the Middle East for a total cash consideration of £530,000.

£60,000 will be paid on exchange with the remaining £470,000 payable on 4 January 2011 (less any royalties received by IBL, in respect of these territories, between the date of exchange and 4 January 2011).

The Company also announces that it is in advanced discussions for the sale of its Admiral sports brand in China for approximately Yen 70m (£534,000), which the Board expects to complete within the next sixty days. The Company is also in discussions relating to the sale of the Admiral sports brand for the remaining European territories still owned by IBL. The Company will continue to seek to sell off the remainder of its worldwide sports IP assets, which are expected to generate additional cash for investment in the Company's strategy to build a point of care diagnostic business.

Julian Baines, IBL's CEO, commented: "We are delighted to have completed this disposal which is the next step in the Company's strategy to divest its licensing activities and to build a business in the diagnostics market place."

Enquiries:

International Brand Licensing plc
Julian Baines, CEO	Mob: [phone]
Paul Foulger, Finance Director	Tel: [phone]
Zeus Capital (Nominated Adviser and Joint Broker)	Tel: [phone]
Ross Andrews
Tom Rowley
Matrix Corporate Capital LLP (Joint Broker)	Tel: [phone]
Robert Naylor
Stephen Waterman
Walbrook PR	Tel: [phone]
Paul McManus	Mob: [phone]
	[e-mail]

 

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