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HTT Hot Tuna

0.0535
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hot Tuna LSE:HTT London Ordinary Share GB00B0L31155 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0535 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Hot Tuna Share Discussion Threads

Showing 1801 to 1824 of 1850 messages
Chat Pages: 74  73  72  71  70  69  68  67  66  65  64  63  Older
DateSubjectAuthorDiscuss
13/1/2012
19:13
Sigh...

I've posted my (final!) comment here on this turkey...sorry, fish!:

wexboy
13/1/2012
19:13
Hot Tuna International (HTT) has conditionally agreed, upon the approval of shareholders to dispose of the domain names, trade marks and group's stock to Project J Newco No.10 for a consideration of 950,000 pounds in cash. The moves follows a strategic decision by the board, after it reported on a disappointing year and a market in which it would be difficult to raise new funds to develop the brand. The board estimates that after the repayment of current liabilities, transaction fees and payments arising in relation to completion of the sale, the group will retain cash balances of approximately 600,000 pounds. The shares slipped 0.02p to 0.05p.
4screws
13/1/2012
18:53
They have lots of money. 950k is peanuts to them.
bishopawn
13/1/2012
18:42
5:18pm
Sports Direct eyes Hot Tuna
Struggling surfwear brand attracts price of £950,000

texas tea
13/1/2012
17:17
THE EVENING STANDARD has a bit more info:-



Mike Ashley poised to tuck into Hot Tuna

Gideon Spanier 13 Jan 2012.

Sports Direct retail mogul Mike Ashley was today set to buy Hot Tuna - the loss-making beach and surfwear fashion firm that once boasted ex-supermodel Elle MacPherson, pictured, as a director. Brands Holdings, a company with close links to Sports Direct, has offered £950,000 for the assets of AIM-listed Hot Tuna and plans to turn it into a shell company, Concha. Concha will look to make a reverse takeover of a business in the "technology, media or entertainment sector". The newly acquired business would then gain an immediate stock market listing from Concha, whose name means shell-like. Media entrepreneur Mark Battles will become Concha's chairman. Ashley, who also owns Newcastle United, is named as a director of Brands Holding at Companies House. Hot Tuna decided to sell itself after losing £860,000 last year on sales of £210,000. Executive chairman Francis Ball and two other directors will quit after the sale, which needs the agreement of shareholders. MacPherson quit the board in 2007.

bishopawn
13/1/2012
16:36
Very good price for the brand, but almost irrelevant. Fair market cap now is about £0.5m, slowly reducing to zero over five years if no reverse takeover happens. No point in being invested here unless you are part of a RTO.
goliard
13/1/2012
15:36
It would have to be reviewed in the light of the brand being sold, I would think. Once the sale goes through, as I expect it will, the focus will immediately turn to the possible/probable/actual reverse takeover target company and what assets etc it will be bringing with it. I think it will all be done and dusted in February. The new research note will be out pronto once the identity is known.
bishopawn
13/1/2012
15:30
how can seymour post this on the 9th of janauary.
Seymour Pierce rates Hot Tuna International (HTT) a "buy" with a 0.35p target price. The broker notes that the firm is working on the sale of its surf wear brand and hopes to finalise terms later this month. Seymour Pierce expects to see a roll out of the website into Europe, following its UK launch in October. The broker notes that the company has improved sales in its core markets of Australia and New Zealand and signed a distribution agreement with International Fashion Group to represent Hot Tuna in the region. The shares were unchanged at 0.065p.

4screws
13/1/2012
15:23
why buy something that is worthless. or could someone try and trumph the money being offerred
4screws
13/1/2012
14:05
cannot believe there are folk are still buying these... must have money to burn!!
doodle1
13/1/2012
14:00
Very poor indeed

The Directors will consider whether they should convene a general meeting to consider whether to wind up the Company while distributing any surplus cash to shareholders (liquidation will need to allow time to settle creditors & outstanding tax liabilities) or to implement the investing policy. The main investment criteria is that any acquisition should be in the technology, media or entertainment sector. If the Company does not make an acquisition/investment within 12 months the Shares will be suspended and if the suspension has not been lifted after 6 months the listing will be cancelled.


The purchaser has taken on the trademark, web domain and inventory but no liabilities.
Directors believe after payment of liabilities and transaction costs they will retain a cash balance of £0.6m (call it £0.5m as this lot always overestimate their figures) enough to cover salaries & overheads for 12 months while they run cash down to zero.


The Agreement includes customary warranties and indemnities in favour of the Purchaser. The Board will consider possible investment opportunities while the warranty claim period elapses and the process of satisfying liabilities continues.

If the warranty claim period is 6 months they can't do anything until the cash position is negligible. Any acquisition will require a truckload of new equity regardless so there is no shareholder value here. De-listing is the more likely scenario as there are better shell candidates on AIM without the bad smell that comes with this listing.

bam bam rubble
13/1/2012
13:28
yes that was because O'connel left
cuthbert cuthbertson senior
13/1/2012
13:04
Agreed they did very well
solarno lopez
13/1/2012
12:59
One thing I will say, is that they obtained a far better price than I thought they would have. When you look at it - what they have is a few wholesale accounts a website that is far from established and does little business and what value of stock? (which clearly does not shift)All this for almost a million - suckers to pay that much imo.
clocktower
13/1/2012
12:39
I take it from your lack of an answer you haven't got a reason for your rejection?
sweepie2
13/1/2012
11:23
Any reason for that 100% rejection?
sweepie2
13/1/2012
11:11
Agreed, it could drift down to .03p while we wait for news, wonder where the £600,000 will go to, anybody think that NXS might come into it as they now share Chairmans.
Thanks

sweepie2
13/1/2012
11:01
still to high for a shell!
equitydealer007
13/1/2012
10:30
The RNS goes to show what trash was being provided by the directors as regards sales. They should be held to account for making misleading statements that infered trading was up on the previous year.
clocktower
13/1/2012
08:09
Hot Tuna to become cash shell after sale of brand and assets, change name
January 13. at 7:49 am

intouch
13/1/2012
08:02
and needs a lot more cash to implement the strategy especially with Yeoman on board...look at Avisen...we now have two of their directors oh dear !!
solarno lopez
13/1/2012
07:41
Likely to bomb this morning.

After payment of liabilities shares worth about 0.025p.

canny lass
11/1/2012
19:35
I presume the winning bidder will be known later this month?
knigel
11/1/2012
11:16
Thanks for explanation. Surely though they are all in this to make money and would exit if the price was doomed and would have taken the opportunity to have exited at a higher market price????
colinmc1971
Chat Pages: 74  73  72  71  70  69  68  67  66  65  64  63  Older

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