Business
Agreement with New Licensee
Agreement with New Licensee.
About this update from Ekf Diagnostics Holdings Plc
[{"type":"text","content":"\n \nEmbargoed: 07.00hrs, Tuesday 4th July 2006\n\n International Brand Licensing plc \n\n Appointment of New Admiral Licensee in Turkey \n\nInternational Brand Licensing Plc (\"IBL\") announces the appointment of Diethnis\nAthlitiki Ltd (\"Diethnis\") as its new Admiral licensee for the territory of\nTurkey.\n\nUnder a ten year agreement, IBL will receive guaranteed minimum royalties of £\n550,000 with over two thirds of this amount payable in the first five years.\nFurthermore, projected sales revenues indicate that significantly higher\nreturns will be generated throughout the term.\n\nTony Hutchinson, IBL's Chief Executive, comments: \"We are delighted to have\nconcluded this agreement with Diethnis following its recent acquisition of the\nAdmiral trademarks for Greece and Cyprus, announced on 29th June. With its\nrapidly developing economy and possible accession to the EU, Turkey offers\nsignificant opportunities for the Admiral brand in the coming years.\n\nDiethnis has invested heavily in Admiral over the past ten years, and its\nproven success in developing an extensive Admiral retail network in Greece will\nprovide a powerful foundation upon which to build the Admiral brand in Turkey.\n\nHaving sold the Admiral trademarks in Greece and Cyprus for a cash\nconsideration of £775,000, this appointment and the minimum royalties it\ndelivers guarantees IBL a valuable ongoing revenue stream in the eastern\nMediterranean, and also demonstrates the increasing value of the Admiral brand\non a global scale.\"\n\nAdmiral is the exclusive kit sponsor of the England and West Indies cricket\nteams, as well as Leeds United Football Club.\n\nFor further information please contact:\n\nTony Hutchinson\n\n0041-79-468-9450\n\nAdam Reynolds\n\n020 7823 1733\n\nInternational Brand Licensing plc\n\n\n \n ","length":2028,"tagName":"div"}]