Electric Guitar PLC Admission Document & Cancellation Date

RNS Number : 8589K

Electric Guitar PLC

16 April 2024

 

16 April 2024

 

Electric Guitar plc

("Electric Guitar" or the "Company")

 

Publication of Admission Document and notice of cancellation from the Official List and Main Market

 

On 13 March 2024, the Company provided notice of its intention to cancel its listing on the Official List and trading on the Main Market of the London Stock Exchange in anticipation of its proposed acquisition and admission to trading on AIM.  On 15 April 2024, the Company announced details of, inter alia, its proposed acquisition of 3radical Limited, fundraising and application for admission to trading on AIM (the "Proposals").  The Proposals are conditional on shareholder approval of resolutions to be proposed at a General Meeting on 1 May 2024 and if approved, it is expected that the acquisition and fundraising will complete and admission to AIM will take effect on 3 May 2024.  The Company has received irrevocable commitments from directors and other shareholders to vote in favour of the resolutions to approve the Proposals in respect of approximately 43 per cent of the Company's shares.

 

The Company advises that it has published its AIM Admission Document with details of the Proposals and a notice of General Meeting, which is now available on the Company's website at www.electricguitarplc.com, and has made application to the London Stock Exchange for admission of its ordinary shares of 0.5p each ("Ordinary Shares") to trading on AIM.  In view of the expected admission to trading on AIM and conditions of the associated fundraising, the Board of Electric Guitar has withdrawn its request to lift the suspension of the listing of the Ordinary Shares on the Official List and accordingly, the Company's Ordinary Shares will remain suspended until the proposed listing cancellation date of 3 May 2024. It is expected that, subject to, inter alia, shareholder approval of the Proposals, the Ordinary Shares will commence trading on the AIM Market on or around 08.00 a.m. on 3 May 2024.

 

For further information:

 

Electric Guitar PLC John Hutchinson Chair  01189 570 444     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     Yellow Jersey PR Sarah Hollins Annabelle Wills Bessie Elliot     020 3004 9512 [e-mail]

 

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