Result of EGM
29 September 2006
Hot Tuna (International) PLC ( AIM:HTT), a lifestyle apparel brand with authentic surf heritage, announces that, at the Extraordinary General Meeting held today, all of the resolutions proposed to shareholders (as set out in its letter to shareholders dated 4 September 2006) were duly passed.
At the meeting held in London, Ranjit Murugason, Chairman of Hot Tuna, made the following statement: “We are extremely pleased with the strong progress that the Company has made over the summer months. The enthusiasm that we have experienced for the regeneration of the iconic Hot Tuna brand around the world has been extremely encouraging. In order to facilitate this regeneration, whilst adhering to strict cost controls, we have managed to secure the services of some of the most revered names in the surf industry and have also successfully launched our Spring / Summer 2007 collection whilst attending the largest industry trade shows in the US.
“In August and September we signed exclusive agreements with pro surfing stars Bron Heussenstamm and Shea Lopez to become Hot Tuna ambassadors and endorse our apparel and accessories to young surfers who aspire to be like these surfing champions. We are pleased to say that this process is already underway with Bron attending the Hot Tuna Surf Championship at St. Ives in Cornwall in August, a well attended event which was covered extensively in the global surfing media.
“It is important to understand that whilst the Hot Tuna brand is core retail, it draws its inspiration fron international surf culture and global youth fashion and therefore it is vital to secure the right ambassadors which is what we have done. Although there is still a lot of hard work to be done, the key cornerstones of the business are firmly in place and we look forward to the future with considerable optimism.”
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 | |
| Henry Harrison-Topham / Chris Lane | Tel: +44 (0) 20 7398 7700 |
| henry.ht@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 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 in North America, Europe and in China.
Hot Tuna offices are maintained in Sydney, Los Angeles and London.
For more information, visit www.hottunaplc.com