Iconix Brand Group Reaffirms Its Commitment to a Proposed Merger with Mossimo Inc.
April 18 2006 - 5:36PM
PR Newswire (US)
NEW YORK, April 18 /PRNewswire-FirstCall/ -- Iconix Brand Group,
Inc. (NASDAQ:ICON) (the "Company" or "Iconix") has reviewed the
terms of an unsolicited proposal for Mossimo, Inc. and, through an
official letter to the board of Mossimo, Inc., has reaffirmed its
commitment to the proposed combination of Iconix and Mossimo under
the terms of the transaction previously announced and as set forth
in a definitive merger agreement. Iconix reiterated in its letter
to the Mossimo, Inc. board that the Company strongly believes it
will deliver long-term benefits to Mossimo shareholders that are
not otherwise available through the unsolicited proposal. Iconix
brand Group Inc. (NASDAQ:ICON) owns, licenses and markets a growing
portfolio of consumer brands including CANDIE'S (R), BONGO (R),
BADGLEY MISCHKA (R), JOE BOXER (R) RAMPAGE (R) and MUDD (R). The
company's brands touch every major segment of retail distribution
from the luxury market to the mass market. Iconix, through its
in-house advertising agency, advertises and markets its brands to
continually drive greater consumer awareness and loyalty and
licenses its brands to a network of leading retailers and
manufacturers. Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995. The statements that are not
historical facts contained in this press release are forward
looking statements that involve a number of known and unknown
risks, uncertainties and other factors, all of which are difficult
or impossible to predict and many of which are beyond the control
of the Company, which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward looking statements. Such factors include, but are not
limited to, uncertainty regarding the results of the Company's
acquisition of additional licenses, continued market acceptance of
current products and the ability to successfully develop and market
new products particularly in light of rapidly changing fashion
trends, the impact of supply and manufacturing constraints or
difficulties relating to the Company's licensees' dependence on
foreign manufacturers and suppliers, uncertainties relating to
customer plans and commitments, the ability of licensees to
successfully market and sell branded products, competition,
uncertainties relating to economic conditions in the markets in
which the Company operates, the ability to hire and retain key
personnel, the ability to obtain capital if required, the risks of
litigation and regulatory proceedings, the risks of uncertainty of
trademark protection, the uncertainty of marketing and licensing
acquired trademarks and other risks detailed in the Company's SEC
filings. The words "believe", "anticipate," "expect", "confident",
"project", provide "guidance" and similar expressions identify
forward-looking statements. Readers are cautioned not to place
undue reliance on these forward looking statements, which speak
only as of the date the statement was made. Contact: David Conn
Executive Vice President Iconix Brand Group 212.730.0030 Joseph
Teklits Integrated Corporate Relations 203-682-8200 DATASOURCE:
Iconix Brand Group, Inc. CONTACT: David Conn, Executive Vice
President of Iconix Brand Group, +1-212-730-0030; or Joseph Teklits
of Integrated Corporate Relations, +1-203-682-8200 for Iconix Brand
Group, Inc. Web site: http://iconixbrand.com/
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