Statement re Austrian master franchise (3994R)
November 03 2011 - 2:30AM
UK Regulatory
TIDMGBR
RNS Number : 3994R
Global Brands S.A.
03 November 2011
03 November 2011
Global Brands S.A. ("Global Brands" or "the Company")
Update on Austria
Global Brands S.A. (AIM: GBR), an international business
developing branded food operations in Europe, including being the
master franchise owner of Domino's Pizza in Switzerland, Luxembourg
and Liechtenstein, provides an update on key developments.
Austria:
In September 2011, the Company announced that it had signed a
Letter of Intent ("LOI") with Domino's Pizza Overseas Franchising
("DPOF") to acquire the exclusive master franchise rights for
Austria. The LOI provided 90 days within which the Company and DPOF
would negotiate the Master Franchise Agreement (MFA) and the
Company would demonstrate to DPOF that it was able to raise the
capital necessary to pursue the Austrian market opportunity.
The terms and conditions of the MFA were negotiated and agreed
with DPOF, however, the Company regrets to announce that it was
unable to raise the capital required to fund the project.
The Directors and management worked extremely hard to secure
initial funding from the market and other sources; however the
response was not sufficient to provide the Directors and DPOF with
sufficient confidence to proceed with signing the MFA. As a result
the LOI has expired.
The Directors are considering alternative options that may be
available to the Company to achieve its financing and expansion
goals.
-Ends-
For further information:
Global Brands S.A.
Simon Bentley, Chairman Tel: (0) 20 7317 8022
Bruce Vandenberg, CEO www.globalbrands.ch
Libertas Capital
Thilo Hoffmann Tel: (0) 20 7569 9650
www.libertascapitalpartners.com
Alexander David Securities Ltd
Bill Sharp Tel: (0) 20 7448 9820
Fiona Kinghorn Tel: (0) 20 7448 9832
www.ad-securities.com
FTI Consulting
Jonathon Brill Tel: (0)20 7831 3113
Caroline Stewart www.fticonsulting.com
Notes to Editors:
Global Brands is a public company incorporated under the laws of
Luxembourg and established in 1999. The company has been admitted
to trading on the AIM of the London Stock Exchange since 2005.
The Company is the owner and operator of the exclusive master
franchise of Domino's Pizza in Switzerland, Luxembourg and
Liechtenstein. Domino's Pizza is the world's leading pizza delivery
brand, with over 9000 stores in 63 markets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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