Market Update

 

TIDMGBR 
 
RNS Number : 6070S 
Global Brands S.A. 
20 May 2009 
 

For immediate release 
Global Brands S.A. (the "Company") 
Market update 
The Company wishes to announce that it has today terminated, with immediate 
effect, the engagement of Mr Yair Hasson, pursuant to the terms of Mr Hasson's 
Appointment Agreement with the Company dated 11 February 2008. The Company has 
terminated Mr Yair Hasson's engagement with the Company prior to the conclusion 
of its investigation into his day-to-day management of the Company and did so 
because of Mr Yair Hasson's failure to comply with the terms of his suspension 
from the Company. 
Mr Amir Hasson remains suspended from his operational duties with the Company 
pending the final outcome of the Company's investigation into his day-to-day 
management of the Company. Initial findings have lead to the initiation by the 
Company of a formal disciplinary process. A further announcement regarding the 
outcome of the disciplinary process will be made in due course and following the 
conclusion of the Company's investigation. 
Following the termination of Mr Yair Hasson's engagement, the Board of Directors 
is currently reviewing the existing management structure of the Company and 
considering further appointments, which will be announced in due course. 
The Company also wishes to announce that its 2008 audit is being finalised and 
and it still expects the results to be published before the end of June 2009 and 
within the timeframe allowed by AIM Rules for Companies. 
 
 
For further information contact: 
Global Brands S.A. 
Simon Bentley, Senior Non-Executive DirectorTel: (0)20 7726 7010 
www.globalbrands.ch 
 
 
ZAI Corporate Finance Ltd 
Thilo Hoffman    Tel: [phone] 
Charity Walmsley     Tel: [phone] 
 www.zimmint.com 
Alexander David Securities Ltd 
David Scott    Tel: [phone] 
 www.ad-securities.com 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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