Result of General Meeting
Summary by AI BETAClose X
This Announcement contains inside information for the purposes of Article 7 of the UK version of the market abuse regulation (EU No.596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended by the European Union (Withdrawal) Act 2020 ("UK MAR").
24 April 2026
Oscillate PLC
(" Oscillate " or the " Company ")
Result of General Meeting
Completion of Transaction
Cancellation of listing on the Aquis Stock Exchange Growth Market
Oscillate PLC (AQSE: SRVL), a company focused on building an independent copper and future metals developer, is pleased to announce that at its General Meeting held earlier today (the " GM "), all of the resolutions were duly passed.
The Company's acquisition of Kalahari Copper Limited (" Kalahari Copper ") (the " Acquisition "), along with the placing and subscription of New Ordinary Shares to raise gross proceeds of £2.96 million (the " Fundraise "), (together the " Transaction ") will complete and become unconditional upon the admission of the Company's issued share capital to the AIM Market of the London Stock Exchange (" AIM ") which is expected to occur at 8.00 a.m. on 27 April 2026 (" Admission "). Following the passing of the resolutions, the Share Consolidation will become effective following close of business today.
Today will therefore be the last day of dealings in the Existing Ordinary Shares on the Aquis Stock Exchange Growth Market (" Aquis ") and the admission of the Company's Existing Ordinary Shares on Acquis will be cancelled immediately prior to Admission.
Results of the General Meeting
The number of votes cast on a poll for and against each of the resolutions proposed (which included all valid proxy votes received), and the number of votes withheld was as follows:
|
|
For |
Against |
|
||
|
Resolution |
Shares |
Percentage |
Shares |
Percentage |
Withheld |
|
One (Ordinary) |
183,613,370 |
99.996% |
6,666 |
0.004% |
4,999 |
|
Two (Ordinary) |
183,278,018 |
99.813% |
343,351 |
0.187% |
3,666 |
|
Three (Ordinary) |
183,621,369 |
99.998% |
3,666 |
0.002% |
0 |
|
Four (Special) |
183,623,702 |
99.999% |
1,333 |
0.001% |
0 |
|
Five (Special) |
183,270,019 |
99.809% |
351,350 |
0.191% |
3,666 |
|
Six (Special) |
183,621,369 |
100.00% |
0 |
0.00% |
3,666 |
|
Seven (Special) |
183,621,369 |
100.00% |
0 |
0.00% |
3,666 |
Notification of Investor Presentation - 27 April 2026
Oscillate Plc (to be renamed Serval Resources Plc) will host a live interactive presentation on the Engage Investor platform, following Admission, on the 27 April 2026 at 10:00am BST.
The Company welcomes all current shareholders and interested parties to join and encourages participants to pre-submit questions. Participants can also submit questions at any time during the live presentation. Investors can sign up to Engage Investor at no cost and follow Oscillate Plc from their personalised investor hub.
Register interest in this event here: https://engageinvestor.news/SRVL_IP26
Admission to trading on AIM and Total Voting Rights
Application has been made for the 33,714,184 New Ordinary Shares to be admitted to trading on AIM. It is expected that Admission will become effective and dealings in the New Ordinary Shares will commence at 8:00 a.m. on 27 April 2026, and subsequently in accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following Admission of the New Ordinary Shares, its issued and outstanding share capital will consist of 33,714,184 New Ordinary Shares each of which carries one vote and 8,053,725 Deferred Shares, which hold no voting rights. The Company does not hold any shares in treasury. Accordingly, the Total Voting Rights in the Company is 33,714,184 and Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Significant Shareholdings on Admission
Following the close of the WRAP Retail Offer, and accordingly the confirmation of the number of WRAP Retail Offer Shares to be issued pursuant to the WRAP Retail Offer (final details of which were not known at the time of publication of the Admission Document), it is confirmed that the entire issued ordinary share capital of the Company on Admission will be 33,714,184 New Ordinary Shares. As a result, the shareholdings of the significant shareholders on Admission, will be follows:
|
Name |
No. of New Ordinary Shares held on Admission |
No. of New Ordinary Shares held on Admission as a % of the entire issued share capital |
|
KCL Investments Limited |
9,261,554 |
27.47% |
|
Neil Herbert(1) |
3,734,632 |
11.08% |
|
Ian Stalker(2) |
3,732,454 |
11.07% |
|
Pella Ventures Limited |
2,300,001 |
6.82% |
|
Capital Limited |
1,351,112 |
4.01% |
|
(1) Held through Cambrian Limited (2) Held through Promaco Limited, Barclays Geneva and Charterhouse Trustees Limited. |
||
In addition, the resulting shareholding of Michael John "Jack" Keyes, who is a member of the Quantum Concert Party, will now represent 2.64% of the entire issued share capital of the Company, on Admission.
Further, following the confirmation of the number of WRAP Retail Offer Shares to be issued, the number of Consideration Warrants to be issued to KCL Investments pursuant to the Consideration Warrant Instrument is confirmed as 1,860,065. Therefore, assuming KCL Investments exercise the Consideration Warrants, the Report Warrants and the Deferred Consideration Warrants and Andrew Benitz exercises his Options (and assuming that no other person converts any convertible securities or exercises any options or any other right to subscribe for shares in the Company), the KCL Investments Concert Party would be interested in 24,137,507 New Ordinary Shares, representing 50.51% (1) of the voting rights of the Company.
(1) For the purposes of this calculation, the Company has assumed: (i) a conversion price equal to the Placing Price for the Deferred Consideration Warrants (the conversion price will be determined at the time of conversion); (ii) that the Seller elects to settle the principal of the Deferred Consideration in full by the issue of the Deferred Consideration Warrants; (iii) that the Seller or the Company elects to require that all interest payable on the Deferred Consideration is settled by the issue of the Deferred Consideration Warrants.
Directors' interests in the Company on Admission
It is confirmed that Andrew Benitz will be appointed as a Director on Admission, and as such, the interests of Directors on Admission will be as follows:
|
Name |
No. of New Ordinary Shares held on Admission |
No. of Options held on Admission |
No. Of New Ordinary Shares as a % of the entire issued share capital |
No. of Options to be held on Admission as a % of the entire issued share capital |
|
Robin Birchall |
691,811 |
850,288 |
2.05% |
2.52% |
|
Andrew Benitz |
159,850 |
279,700 |
0.47% |
0.83% |
|
Brian Gordon |
139,850 |
279,700 |
0.41% |
0.83% |
|
John Treacy |
17,600 |
419,550 |
0.05% |
1.24% |
|
Max Denning |
- |
419,550 |
0.00% |
1.24% |
The Directors are entitled to fees pursuant to their respective Letters of Appointment, and, as disclosed in the Admission Document, for the first year following Admission, such sums will be applied for the subscription of New Ordinary Shares half-yearly in arrears. This applies to all Directors, including Robin Birchall.
It has been agreed that Philip Lombard will be appointed as a director of Dalsu Investment Proprietary Limited (the Botswanan wholly owned subsidiary of Kalahari Copper). Therefore, on Admission, the percentage of AIM securities not in public hands at admission will be 53.04% (which includes all locked-in parties in accordance with the AIM Rules).
Note
Capitalised terms which are not defined in this announcement have the same meaning given to them in the AIM Admission Document which was published on 31 March 2026 and is available to download at https://oscillateplc.com/ .
|
Oscillate PLC/ Serval Resources Robin Birchall Cathy Malins
|
robin.birchall@servalresources.com +44 (0) 7711 313 019 cathy.malins@servalresources.com +44 (0) 7876 796 629
|
|
AlbR Capital Limited (Corporate Adviser) Guy Miller Charles Goodfellow
|
+44 (0) 207 469 0930
|
|
SP Angel (Corporate Broker) Richard Morrison Charlie Bouverat Devik Mehta |
+44 (0) 203 470 0470 |
|
Tavistock Communications (PR) Charles Vivian Eliza Logan |
+44 (0) 20 7920 3150 |
About Serval Resources
Serval Resources is focused on unlocking value across a high-potential portfolio to become a leading mid-cap copper and future metals explorer and developer.
By securing exploration and development assets in the upcoming copper belts of Namibia, Botswana and Côte d'Ivoire, the Company will be strategically positioned to capitalise on the rising demand for sustainable copper and associated metals, driven by the global energy transition and the need for responsible, independent supply chains.
These regions remain relatively under-explored in contrast to their high potential. Serval will look to apply modern and rigorous exploration techniques, as well as the depth of experience of its management team, in order to systematically evaluate, secure and develop prospective opportunities to the benefit of all its stakeholders.
Serval Resources is a brand operated by Oscillate PLC, which is listed on the UK's AQSE Growth Market Exchange under the ticker AQSE: SRVL. Subject to shareholder approval, the Company will officially change its name to Serval Resources around the time of moving up to AIM in 2026.
For further information, visit:
- https://servalresources.com/
- https://x.com/ServalResources
- https://www.linkedin.com/company/serval-resources/
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