RightBridge Venture Group AB

Related Party Transaction • Aug 20, 2025

National Storage Mechanism | Additional information

RNS Number : 1390W

Electric Guitar PLC

20 August 2025

20 August 2025

Electric Guitar PLC

("Electric Guitar" or the "Company")

Update on Company Voluntary Arrangement ("CVA") and proposed acquisition ("RTO") and

related party transaction ("RPT")

CVA update

The Company's CVA - that was approved by its creditors and members on 27 March 2025 - is now close to completion, awaiting only the final determination of claims by its statutory preferential creditors which is expected shortly.  Once agreed by the Company's CVA Supervisor, Antony Batty & Co, the pro rata allocation and allotment of the total fixed pool of 236,782,175 new ordinary shares to be issued pursuant to the CVA and announced on 27 March 2025 will be made.  A further announcement will be made at that time. 

RTO update

The proposed RTO of the US energy company Dunbar Energy Inc. announced on 18 July 2025 is being actively progressed, with due diligence and other workstreams being undertaken, and further announcements will be made as appropriate. 

Related Party Transaction

The Company has entered into an agreement with John Regan, a former director who stepped down on 1 April 2025 and is therefore still a related party under AIM Rules for Companies, to assist the Company in administering the processes leading up to the proposed RTO and other matters, for a fee of £10,000, plus up to £2,000 that would be self-financing and payable only if and when received by the Company.

In particular, Mr Regan was directly involved in establishing the Company's IT, ESG, and other corporate governance arrangements and procedures; its relationships with certain service providers; and other matters that pre-dated the tenure of the any of the Company's current directors. 

In view of Mr Regan's personal knowledge of the Company's affairs, especially those pre-dating that of any of the current directors, and resources needed for administration of various matters, the directors of Electric Guitar consider, having consulted with the Company's nominated adviser, that the terms of the agreement with Mr Regan are fair and reasonable insofar as the Company's  shareholders are concerned.

Contacts:

Electric Guitar PLC Richard Horwood	info@electricguitarplc.com
Allenby Capital (Nominated Adviser and Joint Broker) Jeremy Porter / Piers Shimwell / Dan Dearden-Williams (Corporate Finance) Amrit Nahal / Kelly Gardiner (Equity Sales & Corporate Broking)	020 3328 5656
Novum Securities (Joint Broker) Jon Bellis / Colin Rowbury	020 7399 9425

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