7th Jul 2023 10:19
Electric Guitar PLC - Reading, England-based digital marketing - Enters non-binding agreement to acquire Bristol-based peer 3radical Ltd through a reverse takeover. In a reverse takeover, the acquired company is larger than its buyer and reverses into its stock-market listing. Electric Guitar says the deal is in line with the strategy that it set out at the time of its initial public offering in 2022. It intends to cancel its London Main Market listing and move to AIM when and if the transaction completes. The shares are suspended immediately on Friday, due to the possible reverse takeover. There is no certainty that the deal will happen, Electric Guitar says, but both parties hope to complete it "as soon as practicable". Read More
