7th Jul 2008 07:00
Embargoed Release: 07:00hrs Monday 7 July 2008
International Brand Licensing plc ("IBL" or the "Company") Sale of Admiral Trademarks in Southern Africa
International Brand Licensing plc today announces the sale of its Admiral sportswear trademarks in southern Africa to Admiral IP Limited ("AIP"), a BVI registered investment company, for a cash consideration of ‚£225,000.
Tony Hutchinson, IBL Chief Executive, commented:
"This transaction represents a further strengthening of the Company's balance sheet in liquidating largely unproductive assets in return for cash. Whilst we will continue to maximise our licensing revenues from opening and building the more lucrative markets for our brands, we will also seek to exploit further opportunities to dispose of territories that are unlikely to enhance shareholder value in the future."
-Ends-
For further information please contact:
Tony Hutchinson + 0041 794 689450
Adam Reynolds 0207 245 1100
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