Last checked at 30 Jul 2008 07:00
BLAVOD EXTREME SPIRITS PLC
30 JULY 2008
LICENCE AGREEMENT
Blavod Extreme Spirits PLC ("the Company") announces that the agreement to licence the trademark rights to Jago's Vodka Cream liqueur referred to in the Company's announcement of 28 May 2008 has been signed. The terms of the licence are that 35% of the net brand contribution after all promotional expenditure is payable to Shetland Spirit Company Ltd (in Administration) ("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. Jago's Vodka Cream liqueur, a premium product created by Tom Jago, part of the team which created Baileys, is produced in Scotland from pure Scottish cream and fills a gap in the Company's portfolio of premium spirits providing both potential incremental business both in the UK and in overseas markets.
CONTACT:
BLAVOD EXTREME SPIRITS PLC
Richard Ambler 020 7352 2096
BREWIN DOLPHIN INVESTMENT BANKING
Neil Baldwin 0845 213 4726
ENDS