Business
Issue of warrants
Issue of warrants.
About this update from Electric Guitar Plc
[{"type":"text","content":"\n\n22 November 2023\nElectric Guitar PLC\n(\"Electric Guitar\" or the \"Company\")\n \nIssue of warrants to Directors\n \nThe Board of Electric Guitar PLC (LSE: ELEG), the Special Purpose Acquisition Company seeking acquisitions in the digital marketing and advertising industry as a provider of first-party data solutions, announces that earlier this year the Directors were issued with warrants over new ordinary shares in the Company (\"Warrants\") as set out below.\n \n\n\n\n\nDirector\n\n\nNumber of warrants issued\n\n\nTotal number of warrants now held\n\n\n% of issued share capital\n\n\n\n\nJohn Regan\n\n\n307,830\n\n\n1,846,980\n\n\n3.19%\n\n\n\n\nJohn Hutchinson\n\n\n205,991\n\n\n1,235,948\n\n\n2.14%\n\n\n\n\nSarfraz Munshi\n\n\n205,991\n\n\n205,991\n\n\n0.36%\n\n\n\n\nRichard Horwood\n\n\n205,991\n\n\n205,991\n\n\n0.36%\n\n\n\n\nTotal\n\n\n925,803\n\n\n3,494,910\n\n\n6.04%\n\n\n\n\n \nThe FCA notification table as required by the Market Abuse Regulation is appended below.\n \nThe Warrants were issued on 24 January 2023 save for those issued to Richard Horwood, which were issued on 16 May 2023.\n \nThe Warrants are exercisable at 4.5 pence per share and will vest and become exercisable in tranches of 20% on each of the first five anniversaries of the date of their respective issue. Once vested, the Warrants may be exercised at any time prior to 6pm on the seventh anniversary of the date of their respective issue.\n \nFollowing the above issue of 925,803 Warrants, the total number of warrants outstanding is 6,943,534, equating to 12% of the Company's current issued share capital.\n \nFor further information:\n\n\n\n\n \nElectric Guitar PLC\nJohn Hutchinson\nChair\n\n\n \n 01189 570 444\n\n\n\n\n\n\n\n\n\n\n\n\nAxis Capital Markets\n(Corporate Broker)\nRichard Hutchison\n \n\n\n020 3026 0320\[email protected]\n\n\n\n\n \nYellow Jersey PR\nSarah Hollins\nAnnabelle Wills\nBessie Elliot\n \n\n\n \n020 3004 9512\[email protected]\n \n\n\n\n\n \nNotification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them\n \n\n\n\n\n1. \n\n\nDe...