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Electric Guitar PLC ( (GB:ELEG) ) has issued an update.
Electric Guitar PLC has successfully completed its Company Voluntary Arrangement (CVA), which involved issuing new ordinary shares to settle pre-CVA liabilities. This move, along with the conversion of a Convertible Loan Note held by Sanderson Capital Partners, has effectively made the company debt-free. The completion of these financial arrangements has led to a significant change in shareholdings, with Sanderson now holding 24.59% of the company’s issued share capital. This restructuring positions Electric Guitar PLC more robustly in the market, potentially enhancing its operational capabilities and attractiveness to investors.
More about Electric Guitar PLC
Electric Guitar PLC operates in the music industry, focusing on the production and distribution of electric guitars and related musical instruments. The company is listed on the London Stock Exchange and targets musicians and music enthusiasts globally.
Technical Sentiment Signal: Sell
See more data about ELEG stock on TipRanks’ Stock Analysis page.