29th Jun 2006 07:00
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 itstrademarks for Greece and Cyprus to Diethnis Athlitiki Ltd ("Diethnis"), firstannounced on 10 May 2006, is now completed and the funds received.An initial cash consideration of ‚£700,000 was paid upon completion, and adeferred sum of ‚£75,000 will be paid on 31 March 2007.Tony Hutchinson, IBL's Chief Executive, comments: "Further to our originalannouncement we are delighted to have concluded this agreement with Diethnis.The proceeds will be used in part to fuel the further growth of our AdmiralEngland cricket replica business which continues to exceed expectations.We will continue to work closely with Diethnis on other market opportunities inthe eastern Mediterranean, and also harness its excellent retail skills forother established Admiral markets."Admiral is the exclusive kit sponsor of the England and West Indies cricketteams, as well as Leeds United Football Club.For further information please contact:Tony Hutchinson0041-79-468-9450Adam Reynolds020 7823 1733International Brand Licensing plcENDINTERNATIONAL BRAND LICENSING PLCRelated Shares:
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