Business
Sale of Admiral trademarks
Sale of Admiral trademarks.
About this update from Ekf Diagnostics Holdings Plc
[{"type":"text","content":"\n RNS Number : 6934M International Brand Licensing PLC 28 May 2010 \n \n\n \nINTERNATIONAL BRAND LICENSING PLC\n(\"IBL\" or the \"Company\")\n \nSale of Admiral trademarks in the UK and Ireland\n \nInternational 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.\n \n£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).\n \nThe 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.\n \nJulian 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.\"\n \nEnquiries:\n \n\n\n\n\nInternational Brand Licensing plc\n\n\n \n\n\n\n\nJulian Baines, CEO\n\n\nMob: 07788 420 859\n\n\n\n\nPaul Foulger, Finance Director\n\n\nTel: 020 7823 1733\n\n\n\n\n \n\n\n \n\n\n\n\nZeus Capital (Nominated Adviser and Joint Broker)\n\n\nTel: 0161 831 1512\n\n\n\n\nRoss Andrews \n\n\n \n\n\n\n\nTom Rowley\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nMatrix Corporate Capital LLP (Joint Broker) \n\n\nTel: 020 3206 7000\n\n\n\n\nRobert Naylor \n\n\n \n\n\n\n\nStephen Waterman\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nWalbrook PR\n\n\nTel: 020 7933 8787\n\n\n\n\nPaul McManus \n\n\nMob: 07980 541 893\...