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Electric Guitar PLC completed a subscription on 13 October 2026, receiving a £227,273 cash investment from Vega Upstream JV, LLC for 284,091,250 new Ordinary Shares at 0.08p per share, with admission to AIM expected on 14 October 2026. The company also extended the expiry date of 25,000,000 warrants held by each director, Richard Horwood and Sarfraz Munshi, by 12 months to 13 October 2027, resulting in 3,034,082,941 total voting rights post-admission.
| Date | 13 Oct 2026 |
| Time | 10:00:00 |
| Category | Miscellaneous |
| ID | 7337Y |
13 October 2026
Electric Guitar PLC
(“Electric Guitar” or the “Company”)
Completion of Subscription
Significant Shareholders
Extension of Warrant Expiry Dates
Total Voting Rights
Further to the Company’s announcement on 1 June 2026, Electric Guitar PLC (LSE: ELEG) is pleased to announce completion of the subscription by Vega Upstream JV, LLC for a cash investment into the Company of £227,273 for 284,091,250 new Ordinary Shares of 0.01p in the capital of the Company at 0.08p per share ("Investment Shares").
Application has been made to the London Stock Exchange plc for the Investment Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission of the Investment Shares will become effective at 8:00 a.m. on or around 14 October 2026.
Significant shareholdings
As a result of the issue of the Investment Shares, the Company is aware of the following revised interests of Significant Shareholders (as defined in the AIM Rules for Companies) in the Company:
|
Shareholder |
Number of ordinary shares held |
Previously disclosed position |
Percentage of share capital now held |
|
Sanderson Capital Partners Limited |
676,222,957 |
24.59% |
22.29% |
|
Mayford 1TN Limited |
376,875,000 |
19.55% |
12.42% |
|
Alvar Financial Services Ltd |
375,000,000 (including 312,500,000 held by John Story) |
13.64% |
12.36% |
|
Vega Upstream JV, LLC |
284,091,250 |
0% |
9.36% |
Extension of warrant expiry dates
The Company also announces that it has agreed with two directors, Richard Horwood and Sarfraz Munshi, to extend the expiry date of the 25,000,000 warrants that are exercisable at 0.1p per ordinary share (the “0.1p Warrants”) that they each hold. The expiry date has been extended by 12 months, from 13 October 2026 to 13 October 2027. All other terms of the 0.1p Warrants remain unchanged.
The details of the 0.1p Warrants were announced on 30 April 2025 and were issued as remuneration for additional work that had been undertaken by the non-executive directors and in the expectation that a reverse takeover transaction would have been completed within the original warrant term. As work on a reverse takeover transaction is ongoing, Grahame Cook, the independent director for the purposes of this matter, considers it appropriate for the term of the 0.1p Warrants to be extended. The extensions of the 0.1p Warrants are deemed related party transactions pursuant to Rule 13 of the AIM Rules for Companies and, accordingly, Grahame Cook considers that the terms of the transactions are fair and reasonable insofar as the Company's shareholders are concerned.
Total voting rights
Following Admission, the Company will have 3,034,082,941 Ordinary Shares of 0.01p each in issue, with each Ordinary Share carrying the right to one vote. There are no Ordinary Shares currently held in treasury. Therefore, the total number of voting rights in the Company will be 3,034,082,941, and this figure may be used by shareholders 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.
For further information:
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Electric Guitar PLC
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