Result of AGM
06 Fevereiro 2009 - 9:57AM
UK Regulatory
TIDMHTT
RNS Number : 9301M
Hot Tuna (International) plc
06 February 2009
Hot Tuna (International) PLC
("Hot Tuna", "the Company" or "the Group")
Results of AGM, change of directorate and trading update
Hot Tuna (International) Plc (AIM:HTT), a leading surf wear and fashion brand,
announces that at the Company's Annual General Meeting held today, all of the
resolutions proposed to shareholders were duly passed.
Immediately following the AGM, David Lenigas, resigned from the board of the
Company with immediate effect to concentrate on his other interests. The Board
wishes to thank David for his chairmanship over what was a difficult and
challenging period in Hot Tuna's development. It is anticipated that the Company
will seek to strengthen the board.
Despite the difficult retail environment, current trading remains broadly in
line with management expectations with GBP700,000 of secured orders for the
Spring Summer collection and an encouraging level of repeat orders coming
through. In the US, the Group has seen further customer gains including dELiA*s,
Inc., one of the fastest growing specialty retailers in the US, as well as
continued success with customers such as Victoria's Secret. Both the UK and
Australian operations continue to demonstrate improvement in trading and the
Group is beginning to benefit from the substantial cost cutting exercise
undertaken in 2008.
In order to fund the growing order book and provide sufficient working capital
for the Group going forward, discussions are ongoing with potential providers of
finance. A further announcement will be made in due course.
Contact:
+------------------------------------------------+-----------------------+
| Enquiries: | |
+------------------------------------------------+-----------------------+
| Hot Tuna PLC | Tel: +1 213 891 9409 |
| Niels Juul - CEO | |
+------------------------------------------------+-----------------------+
| Pelham PR | Tel: 0780 303 3431 |
| Kate Catchpole | |
+------------------------------------------------+-----------------------+
| Seymour Pierce Limited | Tel: 0207 107 8000 |
| Mark Percy | |
+------------------------------------------------+-----------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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