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Oscillate PLC - investor in companies in the medical psychedelics industry - Proposes reverse takeover of Hi55 Ventures Ltd, a UK financial technology platform that aims to help companies with payroll. Oscillate says the proposal values Hi55 Ventures's share capital at around £28 million, a share price of around 70 pence each, which Oscillate adds is a 84% premium to Hi55's mid-price on Thursday. Further, the proposal values Oscillate's share capital at around $2.7 million.
The approval is conditional on the approval of Oscillate shareholders at a general meeting, notice of which will be sent ‘in due course’.
Current Oscillate stock price: 0.75 pence, suspended
12-month change: down 61%
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