The following was Submitted by our esteemed and learned classmate Charlie Freeman

The Haberdashers' Aske's School was founded in the year 1690, 
its income arising from an estate left in trust to the Worshipful 
Company of Haberdashers by Robert Aske, citizen of London and 
master of the Haberdashers' Company. Like some other schools 
governed by Livery Companies it uses the arms of the Company.

The first grant of arms was made in 1446 by Roger Lygh, Clarenceux 
King of Arms. The latest grant of the Company's "auncient armes",
made on November 8th, 1570, by Robert Cooke, Clarenceux King of 
Arms, described them as "onde siluer and asur on a bende gules a 
lion passant golde, the creast and supporters hereafter followenge 
viz: vppon the heaulme on a wreathe argent and azur issuant out 
of the cloudes two naked armes holdinge a lorell garlande all in 
proper coollar, the arms supported with two Goates of India siluer 
flecked gules, membred golde, mantled asur, dowbled argent."

A modern blazon (heraldic description) of the arms would read: 
Shield: Nebuly argent and azure, on a bend gules a lion passant 
guardant or; Crest: On a helm, on a wreath argent and azure, 
issuant out of the clouds two naked arms holding a laurel garland 
proper; Supporters: Two Goats of India argent, flecked gules, 
armed and unguled or; Mantling: Azure doubled argent; Motto: 
SERVE AND OBEY