28th Apr 2006 07:01
Hot Tuna (International) plc28 April 2006 Press Release 28 April 2006 Hot Tuna (International) PLC ("Hot Tuna" or "the Company") Board Restructuring Hot Tuna (International) PLC (AIM:HTT), a lifestyle apparel brand with authenticsurf heritage, is pleased to announce the following Board changes to lead theCompany in its next stage of development. • Ranjit Murugason appointed to Executive Chairman• Anthony Oxley moves to Non-Executive Director• James Podaridis moves to Non-Executive Director• Anthony Samaha resigns Ranjit Murugason is appointed as Executive Chairman with immediate effect.Anthony Oxley, current Chief Executive Officer, and James Podaridis, currentExecutive Director, will be moving into Non-Executive positions. Anthony Samaha,Non-Executive Director, has resigned as a Director of the Company. - Ends - For further information:Hot Tuna (International) PLCRanjit Murugason, Chairman Tel: +44 (0) 20 7016 [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 Editors: Hot 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 from aconsortium of investors, listed on AIM in September 2005, and has since startedto aggressively market the brand and reinvigorate the business. The Company nowowns all intellectual property rights to its name and related iconography, andhas 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 distributionhubs in the USA and the UK, with exclusive licensed apparel and accessoriesbusinesses in Australia and New Zealand. In its core markets, Hot Tuna sellsproducts, which are directly manufactured in facilities in the U.S.A. and inChina. In other non-core channels, the Company employs a license model whereinHot Tuna enters into contractual relationships alongside other parties withcomplementary product offerings, solid financing and infrastructure, and superior market knowledge and relations. Hot Tuna offices are maintained in Sydney, Los Angeles and London. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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