29th Sep 2006 14:00
Hot Tuna (International) plc29 September 2006 Press Release 29 September 2006 Hot Tuna (International) PLC ("Hot Tuna" or "the Company") Result of EGM Hot Tuna (International) PLC (AIM:HTT), a lifestyle apparel brand with authenticsurf heritage, announces that, at the Extraordinary General Meeting held today,all of the resolutions proposed to shareholders (as set out in its letter toshareholders dated 4 September 2006) were duly passed. At the meeting held in London, Ranjit Murugason, Chairman of Hot Tuna, made thefollowing statement: "We are extremely pleased with the strong progress that theCompany has made over the summer months. The enthusiasm that we haveexperienced for the regeneration of the iconic Hot Tuna brand around the worldhas been extremely encouraging. In order to facilitate this regeneration,whilst adhering to strict cost controls, we have managed to secure the servicesof some of the most revered names in the surf industry and have alsosuccessfully launched our Spring / Summer 2007 collection whilst attending thelargest industry trade shows in the US. "In August and September we signed exclusive agreements with pro surfing starsBron Heussenstamm and Shea Lopez to become Hot Tuna ambassadors and endorse ourapparel and accessories to young surfers who aspire to be like these surfingchampions. We are pleased to say that this process is already underway withBron 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, itdraws its inspiration fron international surf culture and global youth fashionand therefore it is vital to secure the right ambassadors which is what we havedone. Although there is still a lot of hard work to be done, the keycornerstones of the business are firmly in place and we look forward to thefuture with considerable optimism." - Ends - For further information:Hot Tuna (International) PLCRanjit Murugason, 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 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 lastdecade, 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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