27 March 2025

Electric Guitar PLC

("Electric Guitar" or the "Company")

Result of Creditors Meeting & General Meeting

Further to the Company's announcement of 11 March 2025, the Board of Electric Guitar plc (LSE: ELEG) is pleased to announce that at the General Meeting held earlier today, all resolutions were duly passed. In addition, at a meeting of creditors held earlier today, the Company Voluntary Arrangement proposal was approved by the requisite majority of creditors.

The Company's ordinary shares were suspended from trading on AIM on 26 November 2024 pending clarification of the Company's financial position. With the approval of the CVA and passing of the resolutions for the Proposals at the General Meeting, the Company will apply to London Stock Exchange for trading in its Ordinary Shares to be restored on AIM, subject to completion of the Subscription for £300,000 in new equity financing. The Company has made application to London Stock Exchange for the 875,000,000 Subscription Shares, as well as 68,147,959 CLN Shares, to be admitted to trading on AIM on or around 1 April 2025.

The Proposals included the Share Capital Reorganisation to amend the nominal value of the Company's Ordinary Shares to 0.01 pence each and the Company has made application to London Stock Exchange for the 257,145,740 Existing Ordinary Shares to be re-admitted to trading on AIM with this new nominal value on or around 1 April 2025.

Further updates on Admission and restoration of trading on AIM will be provided in due course.

With the requisite approvals provided for the CVA, the Supervisor will now proceed to allocate creditor claims to CVA Shares. The Company will make application to London Stock Exchange for the 236,782,175 CVA Shares, as well as up to a further 306,665,817 CLN Shares, to be admitted to trading on AIM on or around 28 April 2025.

Any capitalised terms used but not otherwise defined take the meaning given to them in the Company's announcement of 11 March 2025.

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