Appointment and Retirement of Directors

NOT FOR PUBLICATION OR RELEASE IN OR INTO THE UNITED STATES OR AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH AFRICA, OR ANY PROVINCE OR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. 

9th September 2022 

ELECTRIC GUITAR PLC

(“Electric Guitar” or the “Company”)

APPOINTMENT AND RETIREMENT OF DIRECTORS

Electric Guitar PLC announces the appointment of Sarfraz Munshi as a Director of the Company with immediate effect. Mr Munshi represents Sanderson Capital Partners Limited (“Sanderson”), the largest single shareholder in the Company with approximately 18% of the issued equity. The Board believes that the Company would benefit from increased access to deal flow in a very challenging market by utilising Mr Munshi’s skillsets as Sanderson’s representative on the Board.

The Company also announces the resignation of Luke McKeever as a Non-Executive Director of the Company with immediate effect to begin a new full-time role away from the business. The Board would like to place on record its appreciation of the effort and expertise Mr McKeever has shown in his time on the Board. 

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 stated aim at admission was to act as a consolidator and operator in the digital advertising market.

The Directors of Electric Guitar Plc accept responsibility for this announcement.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Electric Guitar PLC
John Hutchinson
Chairman
01189 570444

FORWARD-LOOKING STATEMENTS

This announcement may contain 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.

Axis Capital Markets Limited, who 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.