Scheduled Suspension of trading on AIM
Trading suspended on AIM after failure to complete reverse takeover or acquire within Rule 15 deadline.
- Placing proceeds £775,000
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Trading in the ordinary shares of Electric Guitar PLC (LSE: ELEG) is expected to be suspended at 07.30 today, 25 June 2025, in accordance with Rule 15 of the AIM Rules for Companies (the "AIM Rules") and in line with the timetable previously announced.
Electric Guitar plc became an AIM Rule 15 cash shell on 24 December 2024 and, as such, the Company was required to make an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14 (an "RTO") or seek re-admission to AIM as an investing company (as defined under the AIM Rules) on or before 24 June 2025.
As announced on 18 June 2025 at the time of the Company's successful placing that raised £775,000 (before expenses) to fund anticipated RTO costs, the Company is continuing discussions regarding potential RTOs in the energy and AI sectors. As the deadline for completing an RTO or admission as an investing company has not been met, Electric Guitar's shares are therefore expected to be suspended from trading today pursuant to AIM Rule 15.
If an RTO or admission as an investing company is not completed by Electric Guitar by 25 December 2025, the admission of the Company's ordinary shares to trading on AIM would be cancelled.
Further updates will be announced as appropriate.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.