Embargoed: 07.00hrs, Thursday 29th June
International Brand Licensing plc
Completion of Admiral Greek License Sale
International Brand Licensing Plc ("IBL") announces that the sale of its
trademarks for Greece and Cyprus to Diethnis Athlitiki Ltd ("Diethnis"), first
announced on 10 May 2006, is now completed and the funds received.
An initial cash consideration of £700,000 was paid upon completion, and a
deferred sum of £75,000 will be paid on 31 March 2007.
Tony Hutchinson, IBL's Chief Executive, comments: "Further to our original
announcement we are delighted to have concluded this agreement with Diethnis.
The proceeds will be used in part to fuel the further growth of our Admiral
England cricket replica business which continues to exceed expectations.
We will continue to work closely with Diethnis on other market opportunities in
the eastern Mediterranean, and also harness its excellent retail skills for
other established Admiral markets."
Admiral is the exclusive kit sponsor of the England and West Indies cricket
teams, as well as Leeds United Football Club.
For further information please contact:
Tony Hutchinson
0041-79-468-9450
Adam Reynolds
020 7823 1733
International Brand Licensing plc