Adoption of Share Plans and Grant of Options
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Electric Guitar PLC (LSE: ELEG), the digital marketing and advertising company providing first-party data solutions, confirms that, as set out in the Company's Admission Document and announcement of 15 April 2024, Electric Guitar has today adopted its new share option plans - the 2024 Employee Incentive Plan and 2024 Consultant Incentive Plan (the "Share Plans") - and granted 32,455,827 share options over ordinary shares of 0.5p each in the Company ("Ordinary Shares") to the Directors and certain employees, exercisable at the issue price of the recent fundraising of 2.1 pence per share. As also contemplated, a further 3,288,919 share options over Ordinary Shares have been granted under the Share Plans to certain Directors in exchange for their warrants over Ordinary Shares, exercisable at 2.1 pence per share.
Further details of the terms of these options and the Share Plans are set out in paragraphs 9.b. and 17 respectively of Part VII of the Company's Admission Document dated 15 April 2024.
The FCA notification table set out below, made in accordance with the requirements of the UK Market Abuse Regulation, provides details of the grants to Directors.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | 1) John Regan 2) Richard Horwood 3)John Hutchinson 4) David Eldridge 5) Grahame Cook 6) Caroline Worboys |
| 2. | Reason for the Notification | |
| a) | Position/status | 1) Chief Executive Officer 2) Chief Operating Officer 3) Chair 4) Non-Executive Director 5) Non-Executive Director 6) Non-Executive Director |
| b) | Initial notification/Amendment | Initial Notification |
| a) | Name | Electric Guitar plc |
| b) | LEI | 894500943SA9KY5T9V86 |
| a) | Description of the Financial instrument, type of instrument | ordinary shares of £0.005 each |
| Identification code | ISIN: GB00BN11T727 | |
| b) | Nature of the transaction | Grant of options of ordinary shares of £0.005 each |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1) 2.1 pence per share 13,038,644 2) 2.1 pence per share 11,397,655 3) 2.1 pence per share 4,033,864 4) 2.1 pence per share 2,238,333 5) 2.1 pence per share 1,678,750 6) 2.1 pence per share 1,678,750 |
| d) | Aggregated information: -Aggregated volume -Price | n/a |
| e) | Date of the transaction | 3 May 2024 |
| f) | Place of the transaction | London Stock Exchange, XLON |
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