REG - Electric Guitar PLC - Completion of acquisition and admission to AIM

Electric GuitarAnnouncement

03/05/2024 08:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240503:nRSC0714Na&default-theme=true

RNS Number : 0714N  Electric Guitar PLC  03 May 2024

3 May 2024

 

Electric Guitar PLC

("Electric Guitar" or the "Company")

 

Completion of acquisition of 3radical Limited

and admission to AIM

 

Electric Guitar PLC (LSE: ELEG), the digital marketing and advertising company
providing first-party data solutions, is pleased to announce the completion of
its acquisition of 3radical Limited, Fundraising and the admission of its
enlarged share capital to trading on AIM today.

 

Overview of 3radical

 

o  3radical has created and proven a Software as a Service platform, 3radical
Voco, which enables organisations to engage individuals and request their data
directly using progressive and interactive digital experiences, at scale.

 

o  Data obtained by 3radical Voco can be critical for marketing and for
providing a compelling customer experience, optimising communications,
designing products and services, and, ultimately, driving revenues.

 

o  The Directors believe that 3radical Voco is well positioned to capitalise
on the shift driven by data legislation, consumer sentiment and technology
changes, which means that brands and businesses need to acquire data
themselves rather than purchasing it from third parties and relying on
Cookies.

 

o  3radical Voco is already deployed by some major brands in the UK, US and
APAC, with its scalability and robustness proven by demanding clients across
financial services, online gaming and e-commerce sectors, amongst others.

 

John Regan, CEO of Electric Guitar, commented: "Today marks an important
milestone as our shares are admitted to trading on AIM. Our decision to pursue
this path reflects our confidence in the potential for growth that lies ahead.
With this enhanced access to growth capital for further investment and
acquisitions alongside our initial acquisition of 3radical, coupled with a
successful fundraising today, we have made a robust start on our strategy of
building a leading provider of first-party data solutions for the digital
marketing and advertising industry, in the context of the seismic shift in
online marketing away from third-party cookies.

 

"3radical not only brings us an existing global client base for its own
enterprise SaaS solution, but also paves the way for collaborations with other
potential acquisitions, especially using AI techniques. We are confident that
our combined strength will allow us to grow the business, succeed in the
dynamic digital marketplace, and create value for our loyal and new
shareholders."

 

A copy of the Company's Admission Document as well as the information required
to be disclosed pursuant to AIM Rule 26 is available on the Company's website,
www.electricguitarplc.com (https://www.electricguitarplc.com/) .

 

Total voting rights

 

The Company now has 223,833,289 Ordinary Shares in issue, each with one voting
right. There are no shares held in treasury. Therefore, the Company's total
number of Ordinary Shares and voting rights is 223,833,289. This figure may be
used by shareholders from Admission 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.

 

Director shareholdings

 

Pursuant to the Proposals, certain Directors have been issued with
Subscription Shares, Conversion Shares and Consideration Shares and their
shareholdings in the Company are now as follows:

 

 Name             Number of Ordinary Shares  Percentage of Enlarged Share Capital
 Richard Horwood  4,662,660                  2.08%
 John Regan       9,020,380                  4.03%
 John Hutchinson  5,587,280                  2.50%
 David Eldridge   5,418,360                  2.42%

 

 

Further details are set out in the FCA notifications, made in accordance with
the requirements of the UK Market Abuse Regulation, which are appended further
below.

 

The same definitions apply throughout this announcement as those set out in
the Company's announcement published on 15 April 2024, unless the context
requires otherwise.

 

For further information:

 

 Electric Guitar PLC

John Hutchinson                         01189 570 444

 Chair

 Allenby Capital                        020 3328 5656

 (Nominated Adviser and Joint Broker)

 Jeremy Porter

 Piers Shimwell

 Dan Dearden-Williams

 Axis Capital Markets                   020 3026 0320

 (Joint Broker)

 Richard Hutchison

 Yellow Jersey PR                       020 3004 9512

 Charles Goodwin                        electric@yellowjerseypr.com

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

 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 has 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.

Electric Guitar PLC was listed on the Main Market of the London Stock Exchange
on 11 January 2022 and transferred to AIM on 03 May 2024.

For further information please visit www.electricguitarplc.com
(https://gbr01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.electricguitarplc.com%2F&data=05%7C02%7Cannabelle%40yellowjerseypr.com%7C4d6c115bd9be4497074b08dc6450fa84%7Cc7fee44edc6a4490a4ea0667cc994b7d%7C0%7C0%7C638495546166555946%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=PF4juWPApDTUFzg8doPm1KZUrJsqjht4vrub5zvBsos%3D&reserved=0)
.

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

 

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         1) John Hutchinson

                                                                  2) Richard Horwood
 2.  Reason for the Notification
 a)  Position/status                                              1) Chair

                                                                  2) Chief Operating Officer
 b)  Initial notification/Amendment                               Initial Notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Electric Guitar plc
 b)  LEI                                                          894500943SA9KY5T9V86
 4.  Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the Financial instrument, type of instrument  ordinary shares of £0.005 each
     Identification code                                          ISIN: GB00BN11T727
 b)  Nature of the transaction                                    Subscription of ordinary shares of £0.005 each in satisfaction of accrued
                                                                  salary and bonuses
 c)  Price(s) and volume(s)                                       Price(s)                Volume(s)
                                                                  1) 2.1 pence per share  1) 3,214,280
                                                                  2) 2.1 pence per share  2) 1,441,140
 d)  Aggregated information:                                      n/a

     -Aggregated volume

     -Price
 e)  Date of the transaction                                      3 May 2024
 f)  Place of the transaction                                     London Stock Exchange, XLON

d)

Aggregated information:

-Aggregated volume

-Price

n/a

e)

Date of the transaction

3 May 2024

f)

Place of the transaction

London Stock Exchange, XLON

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         1) John Regan

                                                                  2) Richard Horwood
 2.  Reason for the Notification
 a)  Position/status                                              1) Chief Executive Officer

                                                                  2) Chief Operating Officer
 b)  Initial notification/Amendment                               Initial Notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Electric Guitar plc
 b)  LEI                                                          894500943SA9KY5T9V86
 4.  Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the Financial instrument, type of instrument  ordinary shares of £0.005 each
     Identification code                                          ISIN: GB00BN11T727
 b)  Nature of the transaction                                    Subscription of ordinary shares of £0.005 each
 c)  Price(s) and volume(s)                                       Price(s)                Volume(s)
                                                                  1) 2.1 pence per share  1) 4,952,380
                                                                  2) 2.1 pence per share  2) 1,296,960
 d)  Aggregated information:                                      n/a

     -Aggregated volume

     -Price
 e)  Date of the transaction                                      3 May 2024
 f)  Place of the transaction                                     London Stock Exchange, XLON

d)

Aggregated information:

-Aggregated volume

-Price

n/a

e)

Date of the transaction

3 May 2024

f)

Place of the transaction

London Stock Exchange, XLON

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCELLFBZELEBBZ