28 October 2024

Electric Guitar PLC

("Electric Guitar" or the "Company")

Update re: Issue of equity for conversion of loan facility, substantial shareholding

and total voting rights

Electric Guitar PLC (LSE: ELEG), the digital marketing and advertising company providing first-party data solutions, advises that further to its announcement of 14 October 2024, of the 16,666,666 new ordinary shares (the "New Shares") of £0.005 each in the Company (the "Ordinary Shares") to be issued to Sanderson Capital Partners Limited ("Sanderson") pursuant to the loan conversion at 0.9p per share, it is now expected that of the New Shares, 13,888,888 will be issued and admitted to trading on AIM on 29 October 2024 ("Admission"). The balance of 2,777,778 New Shares will be issued and admitted to trading on AIM later following receipt by the Company of the remaining £25,000 of the £150,000 draw down from the loan facility with Sanderson.  A further announcement will be made in due course.

Following Admission, Sanderson will be interested in 60,879,359 Ordinary Shares which represents 23.68 per cent. of the issued share capital of the Company (as enlarged by the 13,888,888 New Shares). Sanderson is controlled by Tanvir Malik who holds 13,812,782.00 Ordinary Shares in the Company, representing 5.37 per cent. of the issued share capital (as enlarged by the 13,888,888 New Shares).

Total voting rights

On Admission, the Company will have 257,145,740 Ordinary Shares in issue with each Ordinary Share carrying the right to one vote. There are no Ordinary Shares currently held in treasury. The total number of voting rights in the Company is therefore 257,145,740 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:

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 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. It has since entered into collaborations with several other businesses operating in the field, as well as a joint venture with Exelia Technologies Limited called Marcomms.ai for producing AI-driven products and services for the digital marketing and advertising industry.

For further information please visit www.electricguitarplc.com.