17th Mar 2008 10:39
Hot Tuna (International) plc17 March 2008 This announcement replaces the announcement made on 17 March 2008 bearing the RNS number 2266Q due to a typographical error in the fourth paragraph regarding the admission date, which has now been corrected to 25 March 2008. Hot Tuna (International) PLC ("Hot Tuna" or the "Company") £120,000 Equity Placing Total Voting Rights Holding(s) in Company The Company is pleased to announce that it has placed 12,000,000 ordinary sharesof 1p each in the capital of the Company at a price of 1p per ordinary share("Placing Shares") with certain investors (the "Placing"). Pursuant to the Placing, participants have additionally been granted one warrantto subscribe for an additional ordinary share in Hot Tuna for each two newordinary shares subscribed for by that participant in the Placing. Thesewarrants are exercisable at 1.5p per share for a period of five years from thedate of admission of the Placing Shares to trading on AIM. The Placing proceeds of £120,000 will further enable the Company to continue toprovide the necessary working capital for its growing order book of surf apparelfor stores in Europe, America and Australia. The Placing Shares will represent approximately 7.8 per cent. of the Company'senlarged issued share capital and application will be made for the admission ofthe Placing Shares to trading on AIM. It is expected that dealings in thePlacing Shares will commence at 8.00 a.m. on 25 March 2008. The total number of shares in issue and therefore the total number of votingrights following completion of the Placing will be 153,293,419. The Company was notified on 13 March 2008 that as of 11 March 2008 LehmanBrother International (Europe) ("Lehman Brothers") held 19,250,000 ordianryshares in the Company, representing 13.62 per cent. of the current issued sharecapital and total voting rights. However, following the completion of thePlacing and the issue of the Placing Shares, Lehman Brothers' holding willrepresent 12.56 per cent. of the then issued share capital and total votingrights. ENDS For further information, please contact: Hot Tuna (International) PLCDavid Lenigas, Chairman Tel: +44 (0) 7881 825378Niels Juul, CEO Tel: +1 310 8014666 [email protected] Seymour Pierce LimitedMark Percy Tel: +44 (0) 20 7107 8000 www.seymourpierce.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Concha