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The latest update is out from Electric Guitar PLC ( (GB:ELEG) ).
Electric Guitar PLC has successfully raised £775,000 through a placing of new ordinary shares, with the funds intended to cover the costs of a reverse takeover acquisition and general working capital. The company is in discussions for potential acquisitions in the energy and AI sectors, but has not yet finalized terms, which may lead to a temporary suspension of its shares from trading on AIM. Additionally, Novum Securities Limited has been appointed as a joint broker, and significant shareholders Sanderson Capital and Mayford have participated in the placing.
More about Electric Guitar PLC
Electric Guitar PLC operates in the financial sector, primarily focusing on acquisitions and investments. The company is currently classified as an AIM Rule 15 cash shell, which requires it to make significant acquisitions or seek re-admission to AIM as an investing company.
Average Trading Volume: 25,769,734
Technical Sentiment Signal: Sell
Find detailed analytics on ELEG stock on TipRanks’ Stock Analysis page.