17th Aug 2009 11:41
International Brand Licensing PLC
Sale of Admiral trademarks in Australia and New Zealand
International Brand Licensing PLC ("IBL") today announces that it has sold the rights to the Admiral sports brand in Australia and New Zealand to Soccer Shirts International (Pty) Limited ("SSI") for a cash consideration of AU$235,000 (£117,000).
Tony Hutchinson, IBL's Chief Executive, commented: "We are delighted to have concluded this agreement with SSI, a Company with a longstanding association with Admiral in the region. This represents an excellent transaction for the Group, and is further evidence of the value of the Admiral brand around the world. As part of our ongoing strategy we will continue to seek further opportunities to strengthen the Company's balance sheet."
-Ends-
For further information, please contact:
Adam Reynolds
Hansard Group 020-7245-1100
Ross Andrews
Zeus Capital 0161-831-1512
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