Disposal

RNS Number : 0343F

International Brand Licensing PLC

05 January 2010

 



INTERNATIONAL BRAND LICENSING PLC SELLS STAKE IN ADMIRAL ASIA

("IBL" or "the Company")

International Brand Licensing Plc (AIM: IBL) announces that it has sold its 49% stake in the joint venture company, Admiral Asia Limited ("AAL"), to its existing partner, Rich Crest Group, for a cash consideration of £375,000. Included in the transaction are the Admiral trademarks for the Russian Federation.

Julian Baines, IBL's CEO, comments: "We are delighted to have completed this disposal following the recent announcement of the Company's new strategy to withdraw from the sporting goods industry and move into the in vitro diagnostics devices ("IVD") market place."

IBL will continue to sell off the remainder of the its worldwide sports IP assets, which will generate additional cash to invest in the Company's IVD growth.

Enquiries:

International Brand Licensing plc   David Evans, Non Executive Chairman Julian Baines CEO	Tel: [phone]
Zeus Capital Ross Andrews Tom Rowley	Tel: [phone]
Hansard Communications John Bick Justine James	Tel: [phone]

 

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