22nd Dec 2006 12:00
Hot Tuna (International) plc22 December 2006 Hot Tuna (International) Plc ("Hot Tuna" or the "Company") Directors' Shareholdings The Company was notified on 22 December 2006 that Ranjit Murugason, a Directorof the Company, has been granted a call option over certain shares held byFrontier International (Holdings) Pty Ltd ("Frontier"). Frontier has granted MrMurugason a call option over 2,300,000 of the ordinary shares which Frontierowns in the Company which option is exercisable at any time during the five-yearperiod from grant for nominal consideration. As a result, Mr Murugason hasagreed to be subject to certain extended lock-in restrictions on the sale ofshares in the Company. He may not dispose of any shares which he may obtain(whether by way of exercise of the call option or otherwise) until 7 July 2007and will be subject to orderly marketing restrictions for a period of a further12 months thereafter. In addition, 1,150,000 of any shares he may acquire byexercising the call option will be subject to a lock-in restriction on saleuntil 7 July 2008 (the "additional lock-in restriction") and orderly marketingrestrictions for a period of one year thereafter. However, if at any time in theyear prior to 7 July 2008 the Company's share price reaches 150p per share theadditional lock-in restriction would fall away, although Mr Murugason wouldremain subject to the orderly marketing restrictions. In addition, the Company has granted on 22 December 2006 to Ranjit Murugason anoption to subscribe for up to 1,500,000 ordinary shares in the Company whichwill be exercisable at an exercise price of 25p per share. The Company proposes to grant to Elle Macpherson an option to subscribe for upto 1,500,000 ordinary shares in the Company on identical terms. The options aregranted with immediate effect and are all exercisable during the period runningfrom the first anniversary of grant to the fifth anniversary. In summary, Mr Murugason's interest in the Company is: Security Amount DescriptionOrdinaryShares 1,294,833 ordinary shares of 1p each in the capital of the Company, representing 1.68% of the issued share capital of the Company Call 2,300,000 call option over Company's ordinary shares owned byOptions Frontier Optionsand 1,666,666 warrants to subscribe to new Ordinary SharesWarrants In summary, Ms Macpherson's interest in the Company is: Security Amount Description Ordinary Nil ordinary share of 1p each in the capital of theShares Company Call Options 2,000,000 call option over Company's ordinary shares owned by FrontierOptions 3,500,000 options to subscribe to new Ordinary Shares ENDS For further information:Hot Tuna (International) PLCRanjit Murugason, Executive Chairman Tel: +44 (0) 20 7372 [email protected] Seymour Pierce LimitedSarah Wharry / Parimal Kumar Tel: +44 (0) 20 7107 [email protected] www.seymourpierce.com Media enquiries:AbchurchHenry Harrison-Topham / Chris Lane Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com ------------------------ Notes to EditorsHot Tuna International PLC (AIM:HTT) owns the rights to the Hot Tuna brand, aprogenitor of global youth fashion, born in Australia with a heritage ofauthentic surf culture. Hot Tuna is one of the world's most iconic names in surf lifestyle and can traceits roots back to 1969 when it was founded by a surfer and his fashion designerwife. 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 fromFrontier International (Holdings) Pty Ltd, listed on AIM in September 2005, andhas since started to aggressively market the brand and reinvigorate thebusiness. The Company now owns all intellectual property rights to its name andrelated iconography, and has put in place key management drawn from theexecutive ranks of Quiksilver, O'Neill and Ocean Pacific, among others. Headquartered in the UK, Hot Tuna operates design, marketing and distributionhubs in the USA, Australia and the UK. In its core markets, Hot Tuna sellsproducts, which are directly manufactured in facilities in North America, Europeand in China. Hot Tuna offices are maintained in Sydney, Los Angeles and London. For more information, visit www.hottunaplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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