REG - Electric Guitar PLC - Update re: Issue of equity and total voting rights

Electric GuitarAnnouncement

28/10/2024 14:45

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RNS Number : 9165J  Electric Guitar PLC  28 October 2024

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)  020 3328 5656

 Jeremy Porter

 Piers Shimwell

 Dan Dearden-Williams

 Axis Capital Markets (Joint Broker)                   020 3026 0320

 Richard Hutchison
                                                       020 7048 9400

 Global Investment Strategy UK (Joint Broker)

 James Sheehan

 Yellow Jersey (Financial PR)

 Charles Goodwin                                       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

 

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
(http://www.electricguitarplc.com) .

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