Business
Admission to Official List First Day of Dealings
Admission to Official List First Day of Dealings.
About this update from Electric Guitar Plc
[{"type":"text","content":"\n \n \n NOT FOR PUBLICATION OR RELEASE IN OR INTO THE UNITED STATES OR AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH AFRICA, OR ANY PROVINCE OR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.\n \n \n \n 11 January 2022\n ELECTRIC GUITAR PLC\n (“Electric Guitar” or the “Company”)\n Admission to the Official List and first day of dealings\n 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.\n First dealings in the Ordinary Shares are due to commence at 8am today under the ticker symbol “ELEG”.\n On admission, the Company will have 57,862,776 ordinary shares in issue.\n Alexander David Securities Limited acted as Corporate Adviser and Axis Capital Markets Limited acted as Placing Agent and Broker.\n 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.\n \n Company highlights\n \nElectric 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.\n 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 ...