Electric Guitar Plc Admission to Official List First Day of Dealings
January 11 2022 - 1:00AM
UK Regulatory
TIDMELEG
NOT FOR PUBLICATION OR RELEASE IN OR INTO THE UNITED STATES OR AUSTRALIA,
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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
john@electricguitarplc.com
+44(0)1189 570444
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
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