Completion of acquisition and admission to AIM

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.

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 Chair  01189 570 444 Allenby Capital (Nominated Adviser and Joint Broker) Jeremy Porter Piers Shimwell Dan Dearden-Williams 020 3328 5656 Axis Capital Markets (Joint Broker) Richard Hutchison 020 3026 0320 Yellow Jersey PR Charles Goodwin Annabelle Wills Bessie Elliot 020 3004 9512 [e-mail]

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.

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: -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: -Aggregated volume -Price	n/a
e)	Date of the transaction	3 May 2024
f)	Place of the transaction	London Stock Exchange, XLON

 

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