Electric Guitar PLC (GB:ELEG) has released an update.
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Electric Guitar PLC is navigating financial challenges as it prepares to place its subsidiary, 3radical Limited, into administration due to a lack of substantial additional funding. Despite efforts to secure investments and a strategic acquisition of Mymyne Ltd, the company’s declining share price has hindered further growth and funding efforts. The board is now seeking buyers for 3radical to ensure its survival and long-term potential.
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