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Director's Dealing • Nov 22, 2023
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Director's Dealing
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National Storage Mechanism | Additional information 
RNS Number : 3676U
Electric Guitar PLC
22 November 2023
22 November 2023
Electric Guitar PLC
("Electric Guitar" or the "Company")
Issue of warrants to Directors
The Board of Electric Guitar PLC (LSE: ELEG), the Special Purpose Acquisition Company seeking acquisitions in the digital marketing and advertising industry as a provider of first-party data solutions, announces that earlier this year the Directors were issued with warrants over new ordinary shares in the Company ("Warrants") as set out below.
| Director | Number of warrants issued | Total number of warrants now held | % of issued share capital |
| John Regan | 307,830 | 1,846,980 | 3.19% |
| John Hutchinson | 205,991 | 1,235,948 | 2.14% |
| Sarfraz Munshi | 205,991 | 205,991 | 0.36% |
| Richard Horwood | 205,991 | 205,991 | 0.36% |
| Total | 925,803 | 3,494,910 | 6.04% |
The FCA notification table as required by the Market Abuse Regulation is appended below.
The Warrants were issued on 24 January 2023 save for those issued to Richard Horwood, which were issued on 16 May 2023.
The Warrants are exercisable at 4.5 pence per share and will vest and become exercisable in tranches of 20% on each of the first five anniversaries of the date of their respective issue. Once vested, the Warrants may be exercised at any time prior to 6pm on the seventh anniversary of the date of their respective issue.
Following the above issue of 925,803 Warrants, the total number of warrants outstanding is 6,943,534, equating to 12% of the Company's current issued share capital.
For further information:
| Electric Guitar PLC John Hutchinson Chair |
01189 570 444 |
| Axis Capital Markets (Corporate Broker) Richard Hutchison |
020 3026 0320 [email protected] |
| Yellow Jersey PR Sarah Hollins Annabelle Wills Bessie Elliot |
020 3004 9512 [email protected] |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
1) John Regan
2) John Hutchinson
3) Sarfraz Munshi
2.
Reason for the Notification
a)
Position/status
1) Chief Executive Officer
2) Non-executive Chair
3) Non-executive Director
b)
Initial notification/Amendment
Initial Notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Electric Guitar plc
b)
LEI
894500943SA9KY5T9V86
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Issue of warrants over ordinary shares of £0.005 each
Identification code
ISIN: GB00BN11T727
b)
Nature of the transaction
Issue of warrants
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 1) Exercise price of 4.5 pence per share | 1) 307,830 |
| 2) Exercise price of 4.5 pence per share | 2) 205,991 |
| 3) Exercise price of 4.5 pence per share | 3) 205,991 |
d)
Aggregated information:
- Aggregated volume
- Price
n/a
e)
Date of the transaction
24 January 2023
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Richard Horwood
2.
Reason for the Notification
a)
Position/status
Chief Operating Officer
b)
Initial notification/Amendment
Initial Notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Electric Guitar plc
b)
LEI
894500943SA9KY5T9V86
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Issue of warrants over ordinary shares of £0.005 each
Identification code
ISIN: GB00BN11T727
b)
Nature of the transaction
Issue of warrants
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Exercise price of 4.5 pence per share | 205,991 |
d)
Aggregated information:
- Aggregated volume
- Price
n/a
e)
Date of the transaction
16 May 2023
f)
Place of the transaction
Outside a trading venue
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