Last checked at 3 Nov 2008 07:00
BLAVOD EXTREME SPIRITS PLC
3 November 2008
LICENCE AGREEMENT
Blavod Extreme Spirits PLC ("the Company") announces that on Friday 29 October 2008 it signed a licence agreement for the premium vodka brand "Diva" with Shetland Spirits Company (in Administration) (SSC). The terms of the licence are that 35% of the net brand contribution after all promotional expenditure is payable to SSC ("the Licensor") for a period of 4 years. At the end of this period, the Company has the right to acquire the trademark from the Licensor for consideration of £1. These terms are virtually identical to the Jago Vodka Cream liqueur licence signed in July this year. "Diva" is the remaining brand in SSC's portfolio and retails at the very top end of the vodka category. Each bottle contains a column of 54 Swarovski crystals.
Diva is already fully developed and researched, and production and sales will start early in 2009. The company believes Diva has potential in a number of overseas markets and in travel retail.
CONTACT:
BLAVOD EXTREME SPIRITS PLC
Richard Ambler 020 7352 2096
BREWIN DOLPHIN INVESTMENT BANKING (NOMAD)
Neil Baldwin 0845 213 4726