Oscillate Plc - Update on Agreement with Quantum Hydrogen Inc.
04 September 2024
Oscillate PLC
("Oscillate" or the "Company")
Update on Agreement with Quantum Hydrogen Inc.
Further to the announcement of 12 July 2024, Oscillate is pleased to announce that the proposed acquisition is progressing, and the Company expects to execute binding commitments in the coming weeks. The Company expects to announce a notice of general meeting during September, in order to allow shareholders to decide and vote on the merits of the acquisition.
The acquisition remains subject to regulatory approval, including amongst other things, a waiver from Rule 9 of the Takeover Code.
Steve Xerri, Executive Director said: "We are now seeking regulatory approval for our documentation, we have worked tirelessly to get this transaction completed within the 60-calendar day due diligence period but there have just been some elements that have taken longer than expected.
We are moving at pace to change the landscape of our Company and expect to execute conditional binding commitments in the coming weeks. We will start a new dawn where we have a portion of our portfolio geared towards a burgeoning market where natural hydrogen gases will assist in decarbonising the world`s future energy, for Oscillate to be a part of this, and to have this level of opportunity, it was important to get every element right.
Therefore, I write to you today to advise of this extension, but with a level of confidence that I hope you share in our future.
The process from here is to get communication and deal completion in short order, it would be prudent of me to announce our current staging to give investors the knowledge that we are cognisant of our exact location and I want to inform my investors to show that we are about the here and now and our shareholders remain at the forefront of our thoughts."
The Directors of the Company accept responsibility for the content of this announcement.
Enquiries:
Company
Oscillate PLC
John Treacy
Corporate Adviser
Peterhouse Capital Limited
Telephone: 020 7220 979