Electric Guitar PLC (LSE:ELEG) has raised £775,000 through a placing of new ordinary shares, with proceeds earmarked for funding a reverse takeover acquisition and general working capital needs. The company is actively engaged in discussions regarding potential acquisitions in the energy and artificial intelligence sectors, though no definitive agreements have yet been reached. This process may result in a temporary suspension of trading on AIM.
In addition, Electric Guitar has appointed Novum Securities Limited as joint broker to support its strategic growth. Notably, key shareholders Sanderson Capital and Mayford participated in the fundraising round.
About Electric Guitar PLC
Operating within the financial sector, Electric Guitar PLC primarily focuses on acquisitions and investments. Currently classified as an AIM Rule 15 cash shell, the company aims to complete significant acquisitions or seek re-admission to AIM as an investing entity.
Leave a Reply