Business
Sale of Japan Trademarks
Sale of Japan Trademarks.
About this update from Ekf Diagnostics Holdings Plc
[{"type":"text","content":"\n \nEmbargoed Release: 07:00hrs Thursday 25 September 2008\n\n International Brand Licensing Plc \n\n (\"IBL\", the \"Group\" or the \"Company\") \n\n Sale of Admiral Trademarks in Japan \n\nInternational Brand Licensing Plc, the branded sports lifestyle company,\nannounces the sale of its Admiral trademarks in Japan to its local licensee,\nIPGI Inc (\"IPGI\"), and Toyota Tsusho Trading Corporation (\"Toyota Tsusho\"). A\ncash consideration of Yen 231,000,000 (£1,180,000) has been paid in full on\ncompletion. These funds will be used to provide further working capital to the\nGroup going forward.\n\nAs announced in its Interim Results on 4th August 2008, IBL's revenue generated\nfrom the Admiral brand was £306,000 for the 6 months ended 30 June 2008; of\nthis amount, IPGI's contribution was £56,000 for the period. In addition we\nreported that we had cash and cash equivalents of £1.34m and net assets of \n£5.2m.\n\nSince the period end, we announced that we had sold our South African\ntrademarks for a cash consideration of £225,000. In order to continue to\nstrengthen the Group's balance sheet we are pursuing other territorial sales as\nwell as adding new licensing prospects that exist both for our Admiral and\nMuscle Athletic brands.\n\nTony Hutchinson, IBL Chief Executive, commented: \"We are delighted to have\nconcluded this transaction with IPGI and Toyota Tsusho following several months\nof intense negotiations. IPGI has, and will, continue to invest heavily in\nAdmiral, and will provide us with a powerful strategic partner for key emerging\nmarkets such as China and Korea where we have newly signed Admiral licensees\nmarketing the brand.\n\n - ends - \n\nFor further information please contact:\n\nInternational Brand Licensing plc\n\nAdam Reynolds 020 7245 1100\n\nTony Hutchinson 0041 794 689450\n\nBlue Oar Securities plc\n\nWilliam Vandyk 020 7448 4400\n\n\n \n ","length":2258,"tagName":"div"}]