Oscillate Plc - Board Appointment and Other Board Changes

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Oscillate Plc

AQSE: MUSH

("Oscillate" or the "Company")

BOARD APPOINTMENT OF NON EXECTUTIVE DIRECTOR AND OTHER BOARD CHANGE

The Company is pleased to announce the appointment of Maximillian Campbell Denning as a Non-Executive Director with immediate effect. Steve Xerri has provided notice of his resignation and will serve out his notice period that concludes on 19/05 2025.

Max Denning

Max is a mining executive with over a decade’s experience in the natural resources sector covering Europe, South America and Africa with a keen focus on future metals. Most recently, Max was CEO of Tungsten West plc, a company which he co-founded in 2019. During his tenure, Max bought the Hemerdon Tungsten and Tin Mine out of receivership, published the company’s Definitive Feasibility Study, secured all key offtake agreements and successfully raised >$100m project finance facility by way of debt, royalty and equity, the latter of which was achieved via an AIM IPO. 

Prior to Tungsten West plc, Max was GM Commercial and Finance at Pan African Minerals ltd. Max holds a degree in Economics and Politics and an MSc in Accounting & Financial Management

Mr. Denning does not currently hold any ordinary shares in the Company. Mr. Denning will be rewarded with options as follows, exercisable in the event there is admission to AIM or other Recognised Investment Exchange:

-          options equal to 1% of the current issued share capital in the Company, equating to approximately 4,254,400 options over ordinary shares. The options shall have a strike price equivalent to an initial quotation price upon commencement of trading on AIM or other Recognised Investment Exchange; and

-          a payment which will be used to subscribe for ordinary shares in the Company upon commencement of trading on AIM or other Recognised Investment Exchange, equal to 0.5% of the current share capital, equivalent to approximately 2,127,200 ordinary shares.

The below details all directorships held by the director in any other company at any time in the previous five years:

Except as set out above, there is no further information regarding Max Denning that is required to be disclosed pursuant to Rule 4.9 of the Aquis Growth Market Access Rulebook.

Robin Birchall, CEO commented: ‘

‘I am delighted to welcome Mr. Denning to the board of Oscillate as we move to re-invigorate the Company and its investments in the Natural Resources sector and specifically the energy transition.  Max brings significant additional strength to the board in terms of his experience in the natural resources sector and I look forward to working closely with him to grow Oscillate into a significant participant in the energy transition in the UK capital markets.  I would like to thank Mr. Xerri for his longstanding service to the Company as director and steadfast support during these recent months. Mr Xerri will continue to support the Company as an executive while he works out his notice period.  We will benefit from the continuity that he brings and look forward to working closely to with him to propel Oscillate success over the next few months.’ 

Steve Xerri commented: Having worked diligently to bring Oscillate to this opportunity point, I have confidence in Robin to transition the business to where shareholders would require, the appointment of Mr Denning further compliments the transition and I will work hard to continue to embed the values which have been valued by all shareholders. Under Robin’s stewardship I am confident of this future and while it brings an effective end to my involvement as a Director of Oscillate I will leave with a sense of pride and commitment to see my own personal investment through to a successful and fruitful conclusion long after my notice period ends.

The Directors of the Company accept responsibility for the contents of this announcement.

Enquiries:

Company

Oscillate PLC

John Treacy

ir@oscillateplc.com

Robin Birchall

robinbirchall@oscillateplc.com

https://oscillateplc.com

Corporate Adviser

Peterhouse Capital Limited

Telephone: 020 7220 9795