Oscillate Plc General, Corporate and Website Update

 
TIDMMUSH 
 
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. 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") 
 
GENERAL, CORPORATE AND WEBSITE UPDATE 
 
The Company is pleased to provide a corporate update. With Steve Xerri's 
appointment as Executive Director approximately 7 weeks ago, the Board has 
stopped Directors payments of salaries and is instead accruing fees, which will 
be taken as shares or options in the Company. This is intended to align the 
Boards interests to Shareholders of the Company. All the Directors have further 
committed to the Company having purchased ordinary shares in the open 
market. These purchases are reflected in announcements of 6, 13 and 19 December 
2023. 
 
The Company has reviewed and implemented a new 
website https://oscillateplc.com (https://eur01.safelinks.protection.outlook.com/ 
?url=https%3A%2F%2Fprotect 
-eu.mimecast.com%2Fs%2FmrmaC9QoZsz5yGtoL4EH%3Fdomain%3Doscillateplc.com%2F&data=0 
5%7C02%7Cgm%40peterhousecap.com%7Cd0f2dd8e998c441006da08dc09150d9c%7C84c2ab3d172a 
440aaca526a12faeab25%7C0%7C0%7C638395233235135884%7CUnknown%7CTWFpbGZsb3d8eyJWIjo 
iMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata 
=e8nFTCQpJHNNXlBVZQfozEw5Ru2NHAJfUP0yj2OPCmo%3D&reserved=0). The Company has 
implemented higher levels of resilience by choosing a different hosting agent. 
The website no longer requires external suppliers, therefore reducing costs, and 
the website can now be updated internally. This is part of the Executive 
Director's remit, whilst not distracting from other commercial areas of service 
to the Company. 
All non-essential service providers and provisions have also been cut with a 
view to saving Company funds for transactional purposes. 
As noted in our last financial statement, the Company sits in a strong financial 
position, with some minor investments which can be liquidated. We also have a 
very significant position in Psych Capital Plc, which we expect will develop 
operationally in 2024. 
 
Finally, the Company has taken a proactive approach to the treasury management 
of the Company's finances so that the Company is sustainable as a business. A 
large portion of the Company's cash has been put on an attractive 35-day notice, 
interest bearing banking facility, which the Board feels will not compromise any 
opportunities or deals that the Company expects to see. The high street rates of 
interest have allowed the Company to cover corporate overheads 
and Shareholders will see the benefits appearing in the Company financial 
statements. The Board believes this is significant and while the Bank of 
England's published rates are not guaranteed to remain at current levels, 
however, it will clearly assist in maintaining our cash pending a deal being 
found for the Company. 
Steve Xerri, Executive Director, added: "To this end, my initial tasks of a full 
business review is completed. I will now turn my attention to growth, and how 
the Board can develop, unlock and maximise the value which is sat within our 
business. We are really set for a successful future and I have every intention 
of delivering success to the best of my ability. 
 
I really cannot communicate enough to Shareholders how committed I am to making 
a change at Oscillate, I have the support of fellow Directors, advisors 
providing guidance and a determination to ensure that we can gain every 
advantage that our situation provides us.  I look forward to updating 
Shareholders and I wish you a Happy New Year." 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
Enquiries 
 
Company: 
John Treacy 
ir@oscillateplc.com 
 
https://oscillateplc.com 
 
Corporate Adviser: 
Peterhouse Capital Limited 
Guy Miller & Heena Karani 
Telephone: +44 (0) 20 7220 9796 
 
 
This information was brought to you by Cision http://news.cision.com 
https://news.cision.com/oscillate-plc/r/general--corporate-and-website-update,c3903768 
 
 
END

(END) Dow Jones Newswires

January 03, 2024 06:27 ET (11:27 GMT)

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