Electric Guitar PLC (GB:ELEG) has released an update.
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Electric Guitar PLC has issued over 16 million new shares at a premium to strengthen its balance sheet by converting part of a loan facility into equity, a move that has been deemed fair and reasonable for shareholders. Sanderson Capital Partners, now holding a 24.49% stake in the company, is a related party involved in the transaction, which affects the total voting rights. The company’s focus on first-party data solutions in digital marketing positions it strategically in the wake of privacy legislation changes and the decline of third-party cookies.
For further insights into GB:ELEG stock, check out TipRanks’ Stock Analysis page.
