YELLOW CAKE PLC — AGM Information 2020

Sep 2, 2020

National Storage Mechanism | Additional information

RNS Number : 8287X

Yellow Cake PLC

02 September 2020

2 September 2020

Yellow Cake plc ("Yellow Cake" or the "Company")

Results of 2020 Annual General Meeting

Yellow Cake, a specialist company operating in the uranium sector with a view to holding physical uranium ("U3O8") for the long term, is pleased to announce that at the Annual General Meeting of the Company held on 2 September 2020 ("AGM") all resolutions were duly passed. Resolutions 1 to 11 were passed as ordinary resolutions and resolutions 12 and 13 were passed as special resolutions.

The full text of all the resolutions passed at the meeting can be found in the Notice of Annual General Meeting, which is available on the Company's website at www.yellowcakeplc.com. 

The following table shows the votes cast on each resolution:

		VOTES FOR	%	VOTES AGAINST	%	TOTAL VOTES VALIDLY CAST	% OF SHARE CAPITAL WITH VOTING RIGHTS	VOTES WITHHELD
1	Annual Report and Accounts	32,165,261	82.21	6,961,049	17.79	39,126,310	45.87	0
2	Re-appoint Anthony Tudor St John, The Lord St John of Bletso	39,126,310	100.00	0	0	39,126,310	45.87	0
3	Re-appoint Andre Liebenberg	39,126,310	100.00	0	0	39,126,310	45.87	0
4	Re-appoint Carole Whittall	39,126,310	100.00	0	0	39,126,310	45.87	0
5	Re-appoint Sofia Bianchi	39,126,310	100.00	0	0	39,126,310	45.87	0
6	Re-appoint Alexander Downer	39,126,310	100.00	0	0	39,126,310	45.87	0
7	Re-appoint Alan Rule	39,126,310	100.00	0	0	39,126,310	45.87	0
8	Re-appoint Alexandra Nethercott-Parkes	32,165,261	82.21	6,961,049	17.79	39,126,310	45.87	0
9	Re-appoint auditor	39,126,310	100.00	0	0	39,126,310	45.87	0
10	Auditor's remuneration	39,126,310	100.00	0	0	39,126,310	45.87	0
11	Authority to allot shares	38,992,669	100.00	0	0	38,992,669	45.71	133,641
12	Disapply pre-emption rights	38,992,169	99.66	133,545	0.34	39,125,714	45.87	596
13	Authority to purchase own shares	39,126,310	100.00	0	0	39,126,310	45.87	0

Notes:

(1)           A vote withheld is not a vote in law and is not counted in the calculation of votes for or against a resolution.

(2)        As at close of business on 28 August 2020, being the date used to determine the entitlement of shareholders to attend and vote at the Annual General Meeting, the Company's issued share capital was 88,215,716 Ordinary Shares, the number of Ordinary Shares held in treasury was 2,912,385 and the total voting rights in the Company were therefore 85,303,331.

ENQUIRIES: 

Yellow Cake plc
Andre Liebenberg, CEO	Carole Whittall, CFO
Tel: +44 (0) 153 488 5200
Nominated Adviser and Joint Broker: Canaccord Genuity Limited
Henry Fitzgerald-O'Connor	James Asensio
Georgina McCooke Tel: +44 (0) 207 523 8000
Joint Broker: Berenberg
Matthew Armitt	Jennifer Wyllie
Detlir Elezi
Tel: +44 (0) 203 207 7800
Financial Adviser: Bacchus Capital Advisers
Peter Bacchus	Richard Allan
Tel: +44 (0) 203 848 1640
Investor Relations: Powerscourt
Peter Ogden	Linda Gu
Tel: +44 (0) 7793 858 211

ABOUT YELLOW CAKE

Yellow Cake is a London-listed company, headquartered in Jersey, which offers exposure to the uranium spot price. This is achieved through its strategy of buying and holding physical triuranium octoxide ("U3O8"). It may also seek to add value through the acquisition of uranium royalties and streams or other uranium related activities. Yellow Cake seeks to generate returns for shareholders through the appreciation of the value of its holding of U3O8 and its other uranium related activities in a rising uranium price environment. The business is differentiated from its peers by its ten-year Framework Agreement for the supply of U3O8 with Kazatomprom, the world's largest uranium producer. Yellow Cake currently holds 9.32 million lb of U3O8, all of which is held in storage in Canada and France. 

FORWARD LOOKING STATEMENTS

Certain statements contained herein are forward looking statements and are based on current expectations, estimates and projections about the potential returns of the Company and the industry and markets in which the Company will operate, the Directors' beliefs and assumptions made by the Directors. Words such as "expects", "anticipates", "should", "intends", "plans", "believes", "seeks", "estimates", "projects", "pipeline", "aims", "may", "targets", "would", "could" and variations of such words and similar expressions are intended to identify such forward looking statements and expectations. These statements are not guarantees of future performance or the ability to identify and consummate investments and involve certain risks, uncertainties and assumptions that are difficult to predict, qualify or quantify. Therefore, actual outcomes and results may differ materially from what is expressed in such forward looking statements or expectations. Among the factors that could cause actual results to differ materially are: uranium price volatility, difficulty in sourcing opportunities to buy or sell U3O8, foreign exchange rates, changes in political and economic conditions, competition from other energy sources, nuclear accident, loss of key personnel or termination of the services agreement with 308 Services Limited, changes in the legal or regulatory environment, insolvency of counterparties to the Company's material contracts or breach of such material contracts by such counterparties. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based unless required to do so by applicable law or the AIM Rules.

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