Embargoed Release: 07:00hrs Tuesday 24 June 2008
International Brand Licensing plc
(`IBL' or the `Company')
Sale of Admiral Trademarks in Turkey
International Brand Licensing Plc today announces the disposal of the Turkish
trademark registrations of its Admiral sportswear brand to local licensee,
Diethnis Athlitiki, ("Diethnis") in return for a cash consideration of EUR
400,000.
Tony Hutchinson, IBL Chief Executive, commented:
`We are delighted to have concluded this transaction with Diethnis, our long
term strategic partner in the eastern Mediterranean. Following previous
disposals in Greece, the Balkans, and former Yugoslavian states, this completes
our objective of converting assets in this largely unproductive region into
cash. IBL will continue to build the licensing revenues of its brands but we
will also seek further opportunities to strengthen the company's balance
sheet.'
For further information please contact:
Tony Hutchinson +41 794 689 450
Adam Reynolds +44 (0)207 245 1100