(“Oscillate plc” or the “Company”)
Investment in Dev Clever Holdings Plc
Oscillate PLC (AQSE: MUSH) is pleased to announce that it has purchased 2,500,000 warrants to subscribe for ordinary shares of Dev Clever Holdings Plc (“Dev Clever”), with an exercise price of 1p per share (“Warrants”), for a consideration of £250,000. The Warrants are exercisable at any time until 21 January 2024.
The ordinary shares of Dev Clever are currently suspended from trading on the standard segment of the London Stock Exchange pending eligibility approval by the FCA and the publication of a prospectus following the acquisition of the entire issued share capital of Veative Labs Private Limited ("VLPL"), a wholly owned Indian subsidiary of Veative, the immersive education materials (including STEM content) company (the “Transaction”).
Dev Clever is currently working with its professional advisers towards the publication of the prospectus to enable the Transaction to complete and the cancellation and re-admission of Dev Clever’s shares to the London Stock Exchange.
A comprehensive update of update on Dev Clever’s acquisition on Veative can be found through the following link:
About Dev Clever
Dev Clever Holdings plc, together with its wholly owned subsidiaries, is a software and technology group based in Stafford, United Kingdom, specialising in the use of lightweight integrations of cloud-based VR and gamification technologies to deliver rich customer engagement experiences across both the education and commercial sectors. In January 2019, Dev Clever listed on the Standard List of the London Stock Exchange. The Group's core focus is the development and commercialisation of its core Educate platforms.
Dev Clever aims to reduce the global skills shortage by delivering an enhanced careers guidance service via its online platforms, Launchmycareer.com and Launchyourcareer.com, and virtual reality software (Victar VR). The business has established a global partnership with Lenovo to roll out its service worldwide, with offerings already on the market in the UK, US, and Canada. Dev Clever is also focused on the Indian market and has partnered with its National Independent Schools Alliance (NISA) and content provider Veative to provide a comprehensive service offering within Indian budget private schools. Through this, the business has been developing and has launched a direct-to-consumer offering in India.
The directors of the Company accept responsibility for the contents of this announcement.
Tel: +44 (0) 20 3745 0281
Peterhouse Capital Limited
Guy Miller & Mark Anwyl
Telephone: +44 (0) 20 7220 9796
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).