UPDATE 1-Plant Impact gets worldwide deal for BugOil

* Enters exclusive global licence agreement with Arysta

* Milestones and royalties "potentially multi-million stg"

* Received milestone on signing licensing deal (Adds details)

LONDON, June 1 (Reuters) - Plant health company Plant Impact (PIM.L) entered into an exclusive worldwide licensing deal for its lead product, the environmentally friendly pesticide BugOil, the company said on Monday.

While no financial details were released, Plant Impact said it had received a milestone payment on the signing of the agreement with Japan-based Arysta, a privately held agricultural company, and said overall it is a potential multi-million pound deal.

As well as milestone payments, the company will get royalty payouts it says are "in line with the usual rate of royalty payable in the agrochemical industry".

It said it is also in discussions with Arysta regarding access to distribution and potential licensing rights for certain plant nutrient technologies and products owned by Plant Impact, and expect to make further announcements later in 2009. (Reporting by Ben Deighton; Editing by David Holmes)