Equity Placing & Distribution Agreement (5073D)
23 Março 2011 - 1:08PM
UK Regulatory
TIDMHTT
RNS Number : 5073D
Hot Tuna (International) plc
23 March 2011
23 March 2011
Hot Tuna (International) PLC
("Hot Tuna" or "the Company")
Equity placing and new distribution agreement
The Board of Hot Tuna (International) PLC, a leading surf wear
and fashion brand, is pleased to announce that it has placed
1,084,981,000 new ordinary shares at a price of 0.1p per share
('Placing Shares') raising GBP1,084,981 (the 'Placing'). The shares
were placed with new and existing shareholders. Application will be
made for the 1,084,981,000 new ordinary shares to be admitted to
trading on AIM and dealings are expected to commence on 29 March
2011The total number of ordinary shares in issue and therefore the
total number of voting rights is 2,238,284,090.
The net funds will be used to help expand the brand into new
international markets, develop a new transactional website, fund
online marketing, product design and development and provide the
Company with general working capital.
The Company is also pleased to announce that it has signed a
distribution agreement with Interga SpA as its sole distributor of
all Hot Tuna products in Italy and Austria.
Interga, based in Bressanone, Italy, is a leading distributor of
international brands, including Bench and Gola, in Italy and
Austria. Hot Tuna is also negotiating separate distribution
agreements in several other territories including the Gulf States
and South East Asia.
Geoff O'Connell, CEO of Hot Tuna commented: "We are pleased to
have secured significant funding for the Company which will enable
us to drive the brand forward and develop our ecommerce offering.
We are also very pleased to have signed an agreement with Interga,
a long established and well respected distributor in the Italian
market. The expansion of our distribution partners and the launch
of a new e-commerce site will enable the brand to reach a wider
marketplace and drive sales forward."
'Enquiries:
Hot Tuna (International) PLC Tel: 020 7440 0644
Geoff O'Connell, CEO
Pelham Bell Pottinger Tel: 020 7861 3885
Lucy Frankland/ Dan de Belder
Seymour Pierce Limited (Nominated Adviser Tel: 020 7107 8000
and Broker) Tel: 020 3328 5656
Mark Percy / Catherine Leftley (Corporate
Finance)
Paul Jewell (Corporate Broking)
Allenby Capital Ltd
Nick Naylor/Alex Davies
This information is provided by RNS
The company news service from the London Stock Exchange
END
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