Oscillate Plc has completed the acquisition of Kalahari Copper Limited and will rebrand as Serval Resources Plc as it expands its copper interests in Namibia and Botswana.
The deal gives the company exposure to two emerging copper regions, the Kaoko Basin and the Kalahari Copper Belt, both viewed as highly prospective but underexplored.
“Oscillate Plc (to be renamed Serval Resources Plc) (AIM: SRVL) is pleased to announce completion of the acquisition of Kalahari Copper Limited,” the company said.
Chief Executive Officer Robin Birchall said the company’s enlarged share capital of more than 33.7 million ordinary shares has been admitted to trading on the AIM market of the London Stock Exchange under the ticker SRVL.
Trading began at 08:00 on the day of admission after the company exited the AQSE Growth Market.
The company also raised about N$66 million (£2.96 million) through a share issue to fund exploration and accelerate development of its assets.
Birchall said the immediate focus is advancing exploration projects in Namibia and Botswana.
“This is a landmark day for the company as the AIM market will provide the foundation from which to grow the business. I would like to thank our team and all our advisers who have worked so hard to get us to this point. We would also like to thank all the investors who have supported us in our plan to create a mid-cap copper and future-metals exploration and development group. Our priority now is to put the funds to good use by advancing our exciting exploration targets in Namibia and Botswana,” he said.
Andrew Benitz has also been appointed as a non-executive director with immediate effect.
The company’s name change to Serval Resources Plc is expected to take effect once processing by Companies House is completed.
The company said it aims to build a mid-cap copper and future metals business with assets in Namibia, Botswana and Côte d’Ivoire, targeting demand linked to the global energy transition.
