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: 020 7823 1733

Zeus Capital

Ross Andrews

Tom Rowley


Tel: 0161 245 1100

Hansard Communications

John Bick

Justine James


Tel: 020 7245 1100




   


   



This information is provided by RNS
The company news service from the London Stock Exchange
 
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