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RNS Number : 2585W

Hot Tuna (International) plc

26 January 2012

26 January 2012

Hot Tuna (International) PLC

("Hot Tuna" or "the Company")

Equity Placing, Directors Dealing and TVR

The Board of Hot Tuna (International) PLC announces that it has placed 900,000,000 new ordinary shares at a price of 0.03p per share ('Placing Shares') raising GBP270,000 (the 'Placing'). It is proposed that attached to each Placing Share is 1 warrant ('Warrant'), to be issued upon, and subject to, shareholder approval at the upcoming Annual General Meeting granting authority to allot equity securites in the Company, exercisable at 0.03p from 27 January 2012 to 27 January 2015. The Placing Shares and Warrants were placed with new and existing shareholders and the funds will be used for working capital. Application will be made for the 900,000,000 new ordinary shares to be admitted to trading on AIM and dealings are expected to commence on 31 January 2012.

Marcus Yeoman, Non-Executive Director and Mark Barney Battles, proposed Non-Executive Director are each subscribing for 83,333,334 ordinary shares in the Placing. The independent directors, having consulted with Seymour Pierce Limited, consider the terms of the transaction fair and reasonable insofar as shareholders are concerned.

Following the Placing Mr Yeoman will have an interest in 88,333,334 ordinary shares representing 2.84% of the total number of ordinary shares in issue, and Mr Battles will have an interest in 83,333,334 ordinary shares representing 2.68% of the total number of ordinary shares in issue.

Further to the announcement of 23 March 2011 in respect of a placing of 1,084,981,000 new ordinary shares ('2011 Placing'), the Company has identified that an error was made and that the 2011 Placing should have stated that the number of new ordinary shares subscribed for was 1,054,981,000.

Following the Placing and the amendment to the 2011 Placing as set out above, the total number of ordinary shares in issue, and therefore the total number of voting rights is 3,108,284,090.

Enquiries:

 
Hot Tuna (International) PLC 
 Francis Ball, Executive Chairman                                   0845 685 2050 
Seymour Pierce Limited (Nominated Adviser and Joint Broker) 
 Mark Percy / Catherine Leftley                               +44 (0)20 7107 8000 
Allenby Capital Ltd (Joint Broker) 
 Nick Naylor                                                  +44 (0)20 3328 5656 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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