Directorate Change
20 July 2006
Hot Tuna (International) PLC (AIM:HTT), a lifestyle apparel brand with authentic surf heritage, announces that Marcus Gracey has offered his resignation, for personal reasons, from the Board of Hot Tuna. In line with Marcus Gracey’s contract, he will remain working for the Company until 30 July 2006.
Ranjit Murugason, Chairman of Hot Tuna, said: "Marcus has given excellent service to Hot Tuna since he joined us and the Board would like to thank him for his valuable contribution. Hot Tuna remains on track to take a significant market share in the surf lifestyle market and I am confident that our current management team is capable of fulfilling the Company’s ambitions."
For further information:
| Hot Tuna (International) PLC | |
| Ranjit Murugason, Chairman | Tel: +44 (0) 20 7372 9378 |
| ranjit_murugason@hottunaplc.com | |
| Seymour Pierce Limited | |
| Sarah Wharry / Parimal Kumar | Tel: +44 (0) 20 7107 8000 |
| parimalkumar@seymourpierce.com | www.seymourpierce.com |
Media Enquiries:
| Abchurch | |
| Chris Lane / Laura Riascos de Castro | 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. The label has not been actively marketed over for the last decade, but has maintained an organic cult status among the core surf and sports enthusiasts.
In June 2005, Hot Tuna (International) PLC purchased the ‘Hot Tuna’ brand from a consortium of investors, listed it 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 in place key management drawn from the executive ranks of Quiksilver, O’Neill and Ocean Pacific, among others.
While headquartered in the UK, Hot Tuna operates its design, manufacturing, marketing and distribution hub in the USA. Hot Tuna sells product, which it directly manufactures in facilities in the USA, the European Union and in China.
Hot Tuna maintains offices in Sydney, Los Angeles and London.