Business
Acquisition of Mymyne Limited and notice of GM
Acquisition of Mymyne Limited and notice of GM.
About this update from Electric Guitar Plc
[{"type":"text","content":"\n\nThis announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of UK Law by virtue of the European (Withdrawal) Act 2018, as amended. Upon publication of this announcement this information is considered to be in the public domain.\n \n9 August 2024\n \n\n \nElectric Guitar PLC\n(\"Electric Guitar\" or the \"Company\")\n \nAcquisition of Mymyne Limited\n \nIssue of equity and notice of General Meeting\n \nAppointment of Capital Markets Consultant\n \nChange to total voting rights\n \n \nThe Board of Electric Guitar PLC (LSE: ELEG), the digital marketing and advertising company providing first-party data solutions, is pleased to announce that it has today agreed the next step in its buy and build strategy, with the share-for-share acquisition of Mymyne Limited (\"Mymyne\"), a developer of data-related software solutions, and provider of related sales and marketing services (the \"Acquisition\"), to add new software capabilities as well as achieving significant synergies and cost savings for Electric Guitar.\n \nThe Acquisition is subject to approval by Electric Guitar's shareholders for the purposes of section 190 of the Companies Act 2006 (transactions with directors) at a general meeting of the Company to be held on 27 August 2024 at 10.00 a.m. (the \"GM\"). A circular containing a notice convening the GM will be posted to shareholders shortly and made available on the Company's website at electricguitarplc.com.\n \nThe Company also announces an operational update, the appointment of a capital markets consultant and the issue of new ordinary shares of 0.5p in the Company (\"Ordinary Shares\") to certain professional advisers and consultants.\n \nBackground to Mymyne\n \nMymyne is a marketing technology business. It has developed data-related software solutions alongside sales and marketing services for the digital marketing sector. While its revenues have to date come from its sales and marketing services, its intellectual property (\"IP\") includes a website for collecting first-party data in exchange for discount vouchers; Situational Targeting, a segmentation tool that can be used for both customer intent analysis and programmatic digital advertising; and Peprr, a digital traffic and ...