Business
Cockspur Rum Contract Termination
Cockspur Rum Contract Termination.
About this update from Distil Plc
[{"type":"text","content":"\n \n\n\n\n\nBLAVOD WINES & SPIRITS PLC (\"the Company\")\n\n23 SEPTEMBER 2010\n\nCOCKSPUR RUM CONTRACT TERMINATION\n\nFurther to the announcement made on 13 August 2010, the Company reports that\nWest Indies Rum Distillery, owners of Cockspur Rum, and the Company have agreed,\nby mutual consent, to terminate the contract between the two parties for the\ndistribution of Cockspur Rum within the UK market.\n\nThe alleged breach of contract has been withdrawn, and a final agreement has\nbeen reached which includes a financial settlement payable to the Company. This\npayment will assist in mitigating the foregone contribution from Cockspur Rum\nover the remainder of the financial year.\n\nThe Company will continue to supply Cockspur Rum to all UK customers for a short\ntransitional period.  Blavod will announce its future plans regarding\nparticipation in the rum category in due course.\n\nJohn Taylor, Chairman of West Indies Rum Distillery, said \"we would like to\nthank Blavod for their efforts with Cockspur over the last four years and their\npart in the success leading to the significant growth of the brand within the UK\nmarket over that period. Cockspur Rum is now ready to embark on the next stage\nof its development within the UK.\"\n\nThe Company currently expects to announce its interim results for half year to\n30 September 2010 in late November.\n\nEND.\n\nContacts:\n\nBlavod Wines & Spirits PLC\nRichard Ambler, Managing Director           Tel: 0207 352 2096\nE-mail:[email protected]\n\nBrewin Dolphin\nNeil Baldwin                               Tel: 0845 213 4726\n\n\n[HUG#1446353]\n\n\n\n\n\n\n\n\nThis announcement is distributed by Thomson Reuters on behalf of \nThomson Reuters clients. The owner of this announcement warrants that: \n(i) the releases contained herein are protected by copyright and \n other applicable laws; and \n(ii) they are solely responsible for the content, accuracy and \n originality of the information contained therein. \n \nSource: Blavod Wines & Spirits plc via Thomson Reuters ONE\n \n\n\n\n \n ","length":2508,"tagName":"div"}]