RNS Number : 9058W
07 February 2012
Hot Tuna (International) PLC ("the Company")
Result of GM, change of name to Concha plc
Holdings in Company
Hot Tuna (International) Plc (AIM: HTT), a leading surf wear and fashion brand, announces that at the Company's General Meeting held today, all of the resolutions proposed to shareholders were duly passed.
Following the passing of the resolutions, the disposal of the domain names, trade marks and certain of the Company's stock (collectively "the Assets") to Project J Newco No.10 Limited, a wholly owned subsidiary of Brands Holdings Limited, for cash consideration of GBP950,000 ("the Disposal") is due to be completed on 7 February 2012. In light of shareholder approval of the sale of the Assets, the Board are winding down operations in the USA, Australia and the United Kingdom.
In addition, following shareholder approval, the Company's name change to Concha Plc (AIM Ticker: CHA) will become effective and the Company will begin trading under its new name from 8:00 a.m. on 7 February 2012.
The Company has also been informed that Credit Agricole Cheuvreux International Ltd no longer has a notifiable interest in the Company and that AXA Investment Managers SA has an interest in 132,333,333 ordinary shares representing approximately 4.26% of the issued share capital of the Company.
Hot Tuna (International) PLC
M Barney Battles, Non-Executive Chairman +44 (0) 778 976 6242
Seymour Pierce Limited
Mark Percy / Catherine Leftley +44 (0)20 7107 8000
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