Electric Guitar PLC (AIM:ELEG) said that following a loan conversion by Sanderson Capital at 0.9p per share, some 13.9 million shares will be issued and admitted to trading on AIM on 29 October 2024.
Following admission, Sanderson will be interested in 23.68% of the issued share capital.
Sanderson is controlled by Tanvir Malik who holds a 5.37% stake.