Electric Guitar Plc Admission to Official List First Day of Dealings

 
TIDMELEG 
 
NOT FOR PUBLICATION OR RELEASE IN OR INTO THE UNITED STATES OR AUSTRALIA, 
CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH 
AFRICA, OR ANY PROVINCE OR TERRITORY THEREOF OR TO OR FOR THE ACCOUNT OF ANY 
NATIONAL, RESIDENT OR CITIZEN OF THE UNITED STATES OR ANY PERSON RESIDENT IN 
AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND OR THE REPUBLIC 
OF SOUTH AFRICA. 
 
 
 
11 January 2022 
 
                              ELECTRIC GUITAR PLC 
 
                     ("Electric Guitar" or the "Company") 
 
           Admission to the Official List and first day of dealings 
 
Electric Guitar PLC, a UK company established as a special purpose acquisition 
company to seek an acquisition target in the digital media sector, is pleased 
to announce that its ordinary shares of £0.005 each have been admitted to the 
Standard Segment of the Official List and to trading on the Main Market of the 
London Stock Exchange, following a successful placing of 40,000,000 ordinary 
shares at £0.03 pence per share raising gross proceeds of £1,200,000, before 
expenses. 
 
First dealings in the Ordinary Shares are due to commence at 8am today under 
the ticker symbol "ELEG". 
 
On admission, the Company will have 57,862,776 ordinary shares in issue. 
 
Alexander David Securities Limited acted as Corporate Adviser and Axis Capital 
Markets Limited acted as Placing Agent and Broker. 
 
The Company is raising capital to fund the acquisition of a company or business 
in the digital media and advertising sectors. The Directors consider that 
admission of the Company's shares to trading on the Main Market will be 
attractive both to investors under the Placing and to the vendors of potential 
target companies or businesses as the Company executes its investment strategy, 
relative to the listing or admission of the Company's shares on a different 
exchange. 
 
Company highlights 
Electric Guitar was established in 2021 through the issue of shares to the 
founders as a special purpose acquisition vehicle which will seek an 
acquisition target in the digital media sector. The Company intends to act as a 
consolidator and operator in the digital advertising market. 
 
While there has been some activity to date within the large capital advertising 
market, with the focus of legacy agencies' increasingly on digital advertising 
solutions, less attention has been paid to the smaller agencies. The Directors 
have identified an opportunity to invest in these agencies with few or no 
legacy issues with technologies that can provide alternative strategies. 
 
In light of the above, the Directors believe that there is a significant 
commercial opportunity in the digital advertising sector as advertisers and 
their customers explore different ways to reach their target audiences in the 
disrupted market. 
 
The Company's prospectus published in connection with its listing is available 
on the Company's website at www.electricguitarplc.com. 
 
 
 
The Directors of Electric Guitar Plc accept responsibility for this 
announcement. 
 
 
FOR FURTHER INFORMATION, PLEASE CONTACT: 
 
Electric Guitar PLC 
 
John Regan 
[e-mail] 
[phone] 
 
 
FORWARD-LOOKING STATEMENTS 
 
This announcement contains forward-looking statements which reflect the 
Company's or, as appropriate, the Directors' current views, interpretations, 
beliefs or expectations with respect to the Company's financial performance, 
business strategy and plans and objectives of management for future 
operations.  These statements include forward-looking statements both with 
respect to the Company and the sector and industry in which the Company 
proposes to operate.  Statements which include the words "expects", "intends", 
"plans", "believes", "projects", "anticipates", "will", "targets", "aims", 
"may", "would", "could", "continue", "estimate", "future", "opportunity", 
"potential" or, in each case, their negatives, and similar statements of a 
future or forward-looking nature identify forward-looking statements. 
 
All forward-looking statements address matters that involve risks and 
uncertainties because they relate to events that may or may not occur in the 
future.  Forward-looking statements are not guarantees of future performance. 
Accordingly, there are or will be important factors that could cause the 
Company's actual results, prospects and performance to differ materially from 
those indicated in these statements.  In addition, even if the Company's actual 
results, prospects and performance are consistent with the forward-looking 
statements contained in this announcement, those results may not be indicative 
of results in subsequent periods 
 
These forward-looking statements speak only as of the date of this 
announcement.  Subject to any obligations under the Prospectus Rules, the 
Market Abuse Regulation, the Listing Rules and the Disclosure and Transparency 
Rules and except as required by the FCA, the London Stock Exchange, the City 
Code or applicable law and regulations, the Company undertakes no obligation 
publicly to update or review any forward-looking statement, whether as a result 
of new information, future developments or otherwise.  All subsequent written 
and oral forward-looking statements attributable to the Company or individuals 
acting on behalf of the Company are expressly qualified in their entirety by 
this paragraph. 
 
The information contained in this announcement is for background purposes only 
and does not purport to be full or complete. No reliance may be placed for any 
purpose on the information contained in this announcement or its accuracy, 
fairness or completeness. 
 
Alexander David Securities Limited and Axis Capital Markets Limited, which are 
authorised and regulated by the Financial Conduct Authority, are acting only 
for the Company in connection with the matters described in this announcement 
and are not acting for or advising any other person, or treating any other 
person as its client, in relation thereto and will not be responsible for 
providing the regulatory protection afforded to clients of Axis Capital or 
advice to any other person in relation to the matters contained herein. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

January 11, 2022 02:00 ET (07:00 GMT)