Completion of sale of shares

RNS Number:8687N
Global Brands S.A.
12 February 2008

                             For Immediate Release

                       Global Brands S.A. (the "Company")

             Completion of sale of shares and Board and CEO Changes

Further to the announcement made on 27 December 2007, the Directors are able to
confirm that all conditions, including the approval by the Directors, other than
Yossi Moldawsky and Duby Lachovitz, have been satisfied.  Accordingly, the
transfer of 2,505,860 ordinary shares of CHF 2.10 each to the Luxembourg
registered Belvia  S.a.r.l. ("Belvia"), representing 51.96 per cent of the
issued share capital of the Company, has been completed.  Following a meeting of
the Board of Directors, both Yossi Moldawsky, Executive Chairman, and Duby
Lachovitz, Chief Executive Officer, have resigned from the Board with immediate
effect.  In consideration of their immediate resignation the Directors have
agreed that payments to Yossi Moldawsky and Duby Lachovitz of $90,000 and
$240,000 respectively be made. Yossi Moldawsky and Duby Lachovitz will also
receive £15,813 and £18,720 being their accrued Directors' fees. They will also
each retain 121,694 options, exercisable over the ordinary shares in the
Company, of the 144,686 options that were granted to each of them at Admission.
 The options are excercisable at 185p per share.

The Directors are pleased to announce the immediate appointment of Yair Hasson
and Roberto Avondo to the Board as Executive Chairman and Executive Vice
Chairman respectively. In addition, Mr. Amir Hasson was appointed as the
Company's CEO.

Mr Yair Hasson has considerable experience in the fast food sector having served
as Chairman of the Board of Rikamore (Burger King Israel) and RY, LLC (Burger
King Philippines). During this period,  Mr. Hasson was instrumental in acquiring
the exclusive rights and developing around 100 Burger King restaurants in
Israel, the Philippines as well as some parts of the USA.  He was also Chairman
of Starbucks Israel from 2002 until 2003. Prior to that he was CEO of Nevada
based Food Courts Inc.  Mr Yair Hasson will be responsible for continuing the
development of the Company's exisiting Domino's Pizza franchise operations in
Switzerland, Luxembourg and Liechtenstein.  Simultaneously, Mr Yair Hasson
expects to broaden the Company's operations in other European countries using
the managerial and advisory expertise that he brings to the Company.

Mr Yair Hasson who is an American citizen,  has an MBA from Pepperdine
University, California, USA.

Mr Roberto Avondo will supervise the operational and financial performance of
the Company.  He has significant experience in financial, budgetary and
investory controls having been resposible for these areas of business in a wide
range of industries including banking, oil, gas, engineering, manufacturing and
retail.  Mr Avondo  has worked closely with Mr Alexandre Gaydamak, the ultimate
beneficial owner of Belvia.

Mr Avondo has a BSc in Mechanical Engineering and an MBA from the University of
Cape Town.

The Directors are also pleased to announce that Hichens Harrison have confirmed
their  intention to continue as the Company's appointed broker.

Additionally, Yossi Moldawsky andDuby Lachovitz have given an irrevocable
undertaking to apply a portion of the sale proceeds paid to them by Belvia to a
tender offer (the "Offer") to the shareholders of the Company, other than
Belvia.  To this end, the Company has entered into an escrow agreement with,
inter alia, (1)Yossi Moldawsky andDuby Lachovitz and (2) Belvia under the terms
of which part of the proceeds of the sale paid by Belvia to Yossi Moldawky and
Duby Lachovitz are held in escrow, with the Company's UK lawyers, to be held and
used to satisfy the consideration to be paid under the Offer.

The Offer will be for a maximum total of 404,214 Shares,  which is 17.45% of the
2,317,000 Company's issued and outstanding shares at today's date,  excluding
the 2,505,860 shares that were purchased by Belvia from Yossi Moldawsky, Duby
Lachovitz and the other Sellers in the transaction)". The Offer price will be US
$2.2427 per share, the same price as paid by Belvia. The Offer will be
dispatched  to shareholders on 28 February 2008 and will remain open for
acceptance for a period of 15 business days. The  Offer will be closed for
acceptance on 25 March 2008 and settlement will be made to those shareholders on
the register on 25 March 2008.   Settlement will be in US Dollars.

The following information falls to be disclosed under Schedule Two (g) of the
AIM Rules

Mr Yair Hasson

Age: 50

Directorships



Current

Play T.V. Ltd.
Play All Ltd.
Play Me Ltd.



Past

Rikmore Ltd.
RY LLC
Food Courts Inc.
Mardi Gras Food Court
K-R Entertainment
Starbucks Israel



Mr Roberto Avondo

Age: 45

Directorships

Current
Portsmouth Football Club PLC
Quadrant Media Ltd
Radio Isle of White
Radio Quay
Radio Spirit FM
Sport & Boards Retail Ltd.
South Coast Investment Ltd
Midland Development Ltd



Past

None



No further information falls to be disclosed under Schedule Two (g) of the AIM
Rules

For further information please contact:

Global Brands S. A.
Christopher Bodker:     (m) 0771 0428 838

Zimmerman Adams:
Graeme Thom                 020 7398 2900
Fiona Kinghorn              020 7398 2900

Hichens Harrison:
Daniel Briggs               020 7382 7776




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