Placing of shares
05 December 2007
Hot Tuna (International) PLC (AIM: HTT), a lifestyle apparel brand with authentic surf heritage, announces that it has completed a placing of 5,413,534 new Ordinary Shares in the Group with an institution at 6.65p each, representing 6.54 per cent of the total issued share capital of the Group.
Application has been made to the London Stock Exchange for the shares to be admitted to trading on AIM. The new Ordinary Shares will rank pari passu with the existing ordinary shares in the Company and it is expected that admission of the new Ordinary Shares will become effective on AIM and that dealings will commence on AIM at 08.00 a.m. on 10 December 2007 (“Admission”).
Total Voting Rights
For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, on Admission, Hot Tuna's total issued share capital at the date of this notice is 82,793,419.
The Company's issued share capital on Admission consists of 82,793,419 ordinary shares of 1p each, with one voting right per share. The Company holds no ordinary shares in Treasury.
Therefore, on Admission, the total number of voting rights in Hot Tuna is 82,793,419.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Hot Tuna under the FSA's Disclosure and Transparency Rules.
For further information:
| Hot Tuna (International) PLC | |
| Ranjit Murugason, Executive Chairman | Tel: +44 (0) 20 7372 9378 |
| ranjit_murugason@hottunaplc.com | |
| Seymour Pierce Limited | |
| Mark Percy | Tel: +44 (0) 20 7107 8000 |
| parimalkumar@seymourpierce.com | www.seymourpierce.com |
Media Enquiries:
| Abchurch | |
| Henry Harrison-Topham / Chris Lane | Tel: +44 (0) 20 7398 7700 |
| chris.lane@abchurch-group.com | www.abchurch-group.com |
Notes to Editors
Hot Tuna International PLC (AIM: HTT) owns the rights to the Hot Tuna brand, a progenitor of global youth fashion, born in Australia with a heritage of authentic surf culture.
Hot Tuna is one of the world’s most iconic names in surf lifestyle and can trace its roots back to 1969 when it was founded by a surfer and his fashion designer wife. Though the label had not been actively marketed over for the last decade, it retained an organic cult status among core action sports enthusiasts.
In June 2005, Hot Tuna International PLC purchased the 'Hot Tuna' brand from Frontier International (Holdings) Pty Ltd, listed on AIM in September 2005, and has since started to aggressively market the brand and reinvigorate the business. The Company now owns all intellectual property rights to its name and related iconography, and has put in place key management drawn from the executive ranks of Von Dutch, Quiksilver, O’Neill and Ocean Pacific, among others.
Headquartered in the UK, Hot Tuna operates design, marketing and distribution hubs in the USA, Australia and the UK. In its core markets, Hot Tuna sells products, which are directly manufactured in facilities principally in China.
Hot Tuna offices are maintained in Sydney, Los Angeles and London. For more information, visit www.hottunaplc.com