28 October 2024
Electric Guitar
PLC
("Electric Guitar" or the "Company")
Update re: Issue of equity
for conversion of loan facility, substantial
shareholding
and total voting
rights
Electric Guitar PLC (LSE: ELEG), the
digital marketing and advertising company providing first-party
data solutions, advises that further to its announcement of 14
October 2024, of the 16,666,666 new ordinary shares (the
"New Shares") of £0.005
each in the Company (the "Ordinary
Shares") to be issued to Sanderson Capital Partners Limited
("Sanderson") pursuant to
the loan conversion at 0.9p per share, it is now expected that of
the New Shares, 13,888,888 will be issued and admitted to trading
on AIM on 29 October 2024 ("Admission"). The balance of 2,777,778
New Shares will be issued and admitted to trading on AIM later
following receipt by the Company of the remaining £25,000 of the
£150,000 draw down from the loan facility with Sanderson. A
further announcement will be made in due course.
Following Admission, Sanderson will
be interested in 60,879,359 Ordinary Shares which represents 23.68
per cent. of the issued share capital of the Company (as enlarged
by the 13,888,888 New Shares). Sanderson is controlled by Tanvir
Malik who holds 13,812,782.00 Ordinary Shares in the Company,
representing 5.37 per cent. of the issued share capital (as
enlarged by the 13,888,888 New Shares).
Total voting rights
On Admission, the Company will have
257,145,740 Ordinary Shares in issue with each Ordinary Share
carrying the right to one vote. There are no Ordinary Shares
currently held in treasury. The total number of voting rights in
the Company is therefore 257,145,740 and this figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
For
further information:
|
Electric Guitar PLC
|
John Regan (CEO)
|
+44
(0)7721 348826
|
|
Allenby Capital (Nominated Adviser and Joint
Broker)
Jeremy Porter
Piers Shimwell
Dan Dearden-Williams
|
020 3328
5656
|
|
Axis Capital Markets (Joint Broker)
Richard Hutchison
|
020 3026
0320
|
|
Global Investment Strategy UK (Joint Broker)
James Sheehan
|
020 7048
9400
|
|
Yellow Jersey (Financial PR)
Charles Goodwin
Annabelle Wills
Bessie Elliot
|
020 3004
9512
electric@yellowjerseypr.com
|
|
Notes to Editors
Electric Guitar PLC (AIM: ELEG) is
the provider of first-party data solutions for the marketing and
advertising industry, empowering businesses to realise the value of
their first-party data. In an era of changing consumer attitudes
towards the use of their data, tighter privacy legislation, and the
demise of third-party cookies, first-party data is now the key to
success in digital marketing. Electric Guitar's strategy is to
acquire and scale businesses that help marketers maximise the value
of first-party data by curating, managing, and deploying it, and in
doing so making Electric Guitar the industry standard for
first-party data solutions. As the first part of this strategy,
Electric Guitar acquired 3radical Limited, a company that utilises
its Software as a Service platform, 3radical Voco, to enable
organisations to engage individuals and request their data directly
using interactive digital experiences. It has since entered into
collaborations with several other businesses operating in the
field, as well as a joint venture with Exelia Technologies Limited
called Marcomms.ai for producing AI-driven products and services
for the digital marketing and advertising industry.
For further information please
visit www.electricguitarplc.com.