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:
|
Current
directorships
|
Previous
directorships
|
|
|
|
|
Fern
Metals Ltd
|
Tungsten
West plc
|
|
Carter-Denning
Consultancy Ltd
|
Drakelands
Restoration Ltd
|
|
Zama
Resource Partners Pte. Ltd
|
|
|
|
|
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
