Completion of Subscription and other matters

Electric Guitar PLC

13 October 2026

 

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:

Electric Guitar PLC Richard Horwood [e-mail] Allenby Capital (Nominated Adviser and Joint Broker) Jeremy Porter / David Asquith 020 3328 5656 AlbR Capital (Joint Broker) Jon Belliss / Colin Rowbury 020 3026 0320

 

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