REG - Electric Guitar PLC - Notice of Intention to De-List

Electric GuitarAnnouncement

13/03/2024 07:00

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RNS Number : 6028G  Electric Guitar PLC  13 March 2024

13 March 2024

 

Electric Guitar plc

("Electric Guitar" or the "Company")

 

Notice of intention to de-list from the standard segment of the Official List
and Main Market of the London Stock Exchange and

proposed application for admission to trading on AIM in conjunction with the
acquisition of 3radical Limited

 

The directors of Electric Guitar hereby give notice of their intention to
request the Financial Conduct Authority ("FCA") to cancel the listing of the
Company's ordinary shares (ISIN: GB00BN11T727) (the "Ordinary Shares") on the
standard listing segment of the Official List of the FCA (the "Standard
List"), and to request London Stock Exchange plc ("LSE") to cancel the
admission to trading of the Ordinary Shares on the main market for listed
securities of the LSE (together, the "Delisting") in view of its proposed
application for admission of its Ordinary Shares to trading on AIM.

 

On 7 July 2023, the Company announced that it has entered into non-binding
heads of terms for the acquisition of 3radical Limited, which would constitute
a reverse takeover under the Listing Rules (the "Proposed Transaction").  The
Company is progressing the Proposed Transaction and expects to be able to
provide further details and convene a shareholder meeting to approve the
Proposed Transaction in the coming weeks.

 

Pursuant to Listing Rule 5.2.8R, the Company is required to give at least 20
business days' notice of its intended date of Delisting. Accordingly, it is
intended that the Delisting will become effective on or around 12 April 2024
at 8.00 a.m. (GMT), such that the last date of listing on the Standard List
and trading of the Ordinary Shares on the Main Market of the LSE would be on
or around 11 April 2024. A further update will be provided by 11 April 2024 to
confirm the Delisting date.

 

This notice of Delisting is made in anticipation of the Company's proposed
application for the admission of the Ordinary Shares to trading on AIM
concurrent with completion of the Proposed Transaction. Further details of the
Proposed Transaction and a shareholder meeting to approve the Proposed
Transaction will be provided before the Delisting date.

 

For further information:

 

 Electric Guitar PLC

John Hutchinson        01189 570 444

 Chairman

 Axis Capital Markets  020 3026 0320

 (Corporate Broker)    rh@axcap247.com

 Richard Hutchison

 Yellow Jersey PR

 Sarah Hollins         020 3004 9512

 Annabelle Wills       electric@yellowjerseypr.com

          (https://appriver3651008983.sharepoint.com/sites/CompanyData/Shared%20Documents/Corporate%20Finance/Mandated%20Transactions/Electric%20Guitar/Announcements/electric@yellowjerseypr.com)
 Bessie Elliot

 

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