Electric Guitar PLC (AIM:ELEG) has requested a temporary suspension of its AIM-listed shares “pending clarification of the company's financial position”.
A regulatory statement published late on Tuesday read: “As a result of advanced negotiations for a substantial further investment in the company being unexpectedly terminated on 25 November and updated trading information, the board met this morning (Tuesday) to consider the company's financial position, and decided that it should consider all options for the future of the company and that advice from insolvency practitioners should be sought.”
Electric Guitar said a further update will be provided as soon as possible.