Equity Placing
27 April 2009
The Board of Hot Tuna (International) PLC, a leading surf wear and fashion brand, are pleased to announce that it has placed 99,999,671 new ordinary shares at a price of 0.3 p per share ('Placing Shares') raising £299,999 (the 'Placing'). The shares were placed with new and existing shareholders. Application will be made for the 99,999,671 new ordinary shares to be admitted to trading on AIM and dealings are expected to commence on 1 May 2009. The total number of ordinary shares in issue and therefore the total number of voting rights is 281,323,090.
The majority of the funds will be used to fund production of existing orders, as bank production financing has been almost non-existent. The balance of the funds will be used to pay down creditors and for general working capital purposes.
Enquiries:
Enquiries: |
|
| Hot Tuna PLC Geoff O'Connell |
Tel: 020 7016 5100 |
| Pelham PR Kate Catchpole |
Tel: 020 7743 6678 |
| Seymour Pierce Limited Mark Percy / Christopher Wren |
Tel: 0207 107 8000 |