Update re: Liquidation of 3radical Limited

Electric Guitar PLC (LSE: ELEG) announces that, further to the Company's announcement of 13 December 2024, following a meeting of the shareholders of 3radical Limited ("3radical") and the approval of creditors on 23 December 2024, 3radical has been placed into a creditors' voluntary liquidation and Christopher Errington and Paul Ellison of KRE Corporate Recovery Limited ("KRE") have been appointed as joint liquidators of 3radical.

As a result of the liquidation of 3radical, Electric Guitar plc has ceased to control or conduct all or substantially all its previous trading business, activities or assets and therefore is no longer a trading company and has no operating revenues. Therefore, for the purposes of the AIM Rules for Companies (the "AIM Rules"), the Company is now classified as an AIM Rule 15 cash shell. As such, the Company will be required to make an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14 or seek re-admission to AIM as an investing company (as defined under the AIM Rules) on or before the date falling six months from today, failing which the Company's ordinary shares would be suspended from trading on AIM pursuant to AIM Rule 40.

The Board of directors of Electric Guitar continues to review options available to the Company including, inter alia, seeking financing to allow the Company to pursue an acquisition strategy. The Company currently has minimal cash balances and known creditors of approximately £1 million. Accordingly, the Company's ordinary shares remain suspended from trading on AIM pending clarification of the Company's financial position and further updates will be provided as appropriate.

A further announcement will be made in due course.