Oscillate Plc Result of AGM and Trading Update

 
TIDMMUSH 
 
Oscillate plc 
 
                      ("Oscillate plc" or the "Company") 
 
                                 Result of AGM 
 
                                Trading Update 
 
Oscillate PLC (AQSE: MUSH) is pleased to announce that at the AGM held earlier 
today, all resolutions were duly passed. 
 
The Company would like to give an update on its significant holdings for the 
time period since the publication of the annual report of 14 June 2022. 
 
Psych Capital PLC ("Psych Capital") 
 
On 20 August 2021, the Company announced its initial pre-IPO investment in 
Psych Capital. On 9 June 2022, Psych Capital successfully listed its shares to 
trading on the AQSE Growth Market. Since listing, its portfolio company Awakn 
Life Sciences ("Awakn") received grant funding from the National Institute for 
Health and Care Research (NIHR), a UK government agency which will fund 66% of 
the costs of Awakn's Phase III clinical trial exploring the use of 
ketamine-assisted therapy for the treatment of Alcohol Use Disorder. The 
Company currently holds 46,668,622 (16.10%) shares in Psych Capital, with a 
value of £2.57million, based on the closing mid-price of Pysch Capital's shares 
on 5 August 2022 of 5.5 pence per share. The Company invested a total of £ 
650,000 between August 2021 and June 2022. 
 
Igraine Plc 
 
On 18 July 2022, Igraine plc published its audited account and announced that 
it had streamlined its board which now consists of Simon Grant-Rennick and 
Stephen Winfield. Oscillate holds 21,312,460 ordinary shares in Igraine with a 
value of £266,000, based on the closing mid-price of Igraine shares on 5 August 
2022 of 1.25 pence per share. 
 
DEV Clever Holdings PLC ("DEV Clever") 
 
As announced on 19 July 2022, Dev Clever is currently working with its 
professional advisers towards the publication of a prospectus to enable the 
reverse takeover transaction to complete and the cancellation and re-admission 
of Dev Clever's shares to the London Stock Exchange. Dev Clever is also 
finalising its account for the year ended 31 October 2021 and anticipates that 
these will be published in August 2022. The Company holds 2.5 million warrants 
exercisable into Dev Clever shares at a price of 1 penny per share. 
 
In addition to the above holdings, the Company has a strong cash position of 
approximately £1.2million. It continues to seek attractive investment 
opportunities to maximise shareholder value. 
 
                                    --ENDS- 
 
The directors of the Company accept responsibility for the contents of this 
announcement. 
 
Enquiries 
 
Company: 
 
Fungai Ndoro 
 
Tel:  [phone] 
 
https://oscillateplc.com 
 
Corporate Adviser: 
 
Peterhouse Capital Limited 
 
Guy Miller & Mark Anwyl 
 
Telephone: [phone] 
 
Market Abuse Regulation (MAR) Disclosure 
 
This announcement contains inside information for the purposes of Article 7 of 
the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as 
defined in the European Union (Withdrawal) Act 2018). 
 
 
 
END 
 
 

(END) Dow Jones Newswires

August 08, 2022 09:54 ET (13:54 GMT)