Sale of Japan Trademarks
25 Septiembre 2008 - 1:01AM
UK Regulatory
Embargoed Release: 07:00hrs Thursday 25 September 2008
International Brand Licensing Plc
("IBL", the "Group" or the "Company")
Sale of Admiral Trademarks in Japan
International Brand Licensing Plc, the branded sports lifestyle company,
announces the sale of its Admiral trademarks in Japan to its local licensee,
IPGI Inc ("IPGI"), and Toyota Tsusho Trading Corporation ("Toyota Tsusho"). A
cash consideration of Yen 231,000,000 (�1,180,000) has been paid in full on
completion. These funds will be used to provide further working capital to the
Group going forward.
As announced in its Interim Results on 4th August 2008, IBL's revenue generated
from the Admiral brand was �306,000 for the 6 months ended 30 June 2008; of
this amount, IPGI's contribution was �56,000 for the period. In addition we
reported that we had cash and cash equivalents of �1.34m and net assets of
�5.2m.
Since the period end, we announced that we had sold our South African
trademarks for a cash consideration of �225,000. In order to continue to
strengthen the Group's balance sheet we are pursuing other territorial sales as
well as adding new licensing prospects that exist both for our Admiral and
Muscle Athletic brands.
Tony Hutchinson, IBL Chief Executive, commented: "We are delighted to have
concluded this transaction with IPGI and Toyota Tsusho following several months
of intense negotiations. IPGI has, and will, continue to invest heavily in
Admiral, and will provide us with a powerful strategic partner for key emerging
markets such as China and Korea where we have newly signed Admiral licensees
marketing the brand.
- ends -
For further information please contact:
International Brand Licensing plc
Adam Reynolds 020 7245 1100
Tony Hutchinson 0041 794 689450
Blue Oar Securities plc
William Vandyk 020 7448 4400
END
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