Yellow Cake PLC Changes to the Board of Directors (8301F)

TIDMYCA

RNS Number : 8301F

Yellow Cake PLC

09 November 2022

9 November 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

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

Changes to the Board of Directors

Yellow Cake, a specialist company operating in the uranium sector holding physical uranium for the long term, is pleased to confirm the appointment of Claire Brazenall as an independent non-executive director with effect from 9 November 2022. Claire acts as in-house legal counsel and Client Director of Langham Hall Fund Management (Jersey) Limited, which provides administrative services to the Company.

Claire Brazenall (Legal name, Claire Le Quesne) has over 12 years of experience of the Jersey funds industry. Prior to joining Langham Hall Jersey in 2020, Ms. Brazenall spent 10 years in private practice with Carey Olsen Jersey LLP where she gained a wealth of experience of different fund structures and asset classes and was heavily involved in providing regulatory and structuring advice to a range of clients. During her time at Carey Olsen Jersey LLP, she was involved in the closings of over US$100bn of investor commitments into various fund structures.

Claire Brazenall has extensive experience in liaising with the Jersey Financial Services Commission ("JFSC") and The International Stock Exchange and has in-depth knowledge of the relevant Codes of Practice and Jersey financial services regulations. She is approved as a principal person by the JFSC and currently acts as a director on a number of regulated and unregulated funds and Special Purpose Vehicles ("SPV") boards of client companies.

Claire's appointment follows the resignation of Emily Manning as an independent non-executive director with effect from 8 November 2022. The Board would like to take this opportunity to express its sincere gratitude to Emily for her contributions to Yellow Cake.

Further information in relation to the Director appointment

Claire Brazenall

Claire Brazenall (aged 37) has confirmed that, other than the information disclosed below, there are no matters to be disclosed under Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules.

Current directorships

 
Company name 
----------------------------------------------- 
Anglo Securities Poole Limited 
ASF UK I (Trustee) Limited 
ASF UK Industrial Portfolio 2 Trustee 1 Limited 
ASF UK Industrial Portfolio 2 Trustee 2 Limited 
ASF UK Industrial Portfolio Trustee 1 Limited 
ASF UK Industrial Portfolio Trustee 2 Limited 
ASF UK Touchwood Trustee 1 Limited 
ASF UK Touchwood Trustee 2 Limited 
Bolingbroke Office Trustee 1 Limited 
Bolingbroke Office Trustee 2 Limited 
Carbon Exposure PLC 
Eagle Street Partners ACO Holdings 2 Limited 
Eagle Street Partners ACO Holdings 3 Limited 
Eagle Street Partners ACO Holdings 4 Limited 
Eagle Street Partners ACO Holdings Limited 
Eagle Street Partners ACO1 Limited 
Eagle Street Partners ACO2 Limited 
Eagle Street Partners ACO3 Limited 
Eagle Street Partners ACO4 Limited 
Eagle Street Partners CL Limited 
Eagle Street Partners Group Limited 
Eagle Street Partners Holdings Limited 
Hawthorn Residential Fund GP Ltd 
Postbridge Jersey Limited 
Reading Nominee No.1 Limited 
Reading Nominee No.2 Limited 
Reading Trustee Limited 
Resident Space Advisors Limited 
Student Homes GP Limited 
Willow Brook Centre Bristol Limited 
Crescendo Indigo Net Lease GP Limited 
Patron Capital GP V Limited 
Patron Capital GP VI Limited 
Patron Capital GP VII Limited 
 

Previous directorships held in the last 5 years

N/A

Shareholding in the Company

Nil.

ENQUIRIES:

 
 
   Yellow Cake plc 
 Andre Liebenberg, CEO                     Carole Whittall, CFO 
 Tel: [phone] 
 
 Nominated Adviser and Joint Broker: Canaccord Genuity Limited 
 Henry Fitzgerald-O'Connor                 James Asensio 
 G ordon Hamilton 
 
 
  Tel: [phone] 
 
 Joint Broker: Berenberg 
 Matthew Armitt                            Jennifer Lee 
 Detlir Elezi 
 Tel: [phone] 
 
 Financial Adviser: Bacchus Capital Advisers 
 Peter Bacchus                             Richard Allan 
 Tel: [phone] 
 
 Communications Adviser: Powerscourt 
 Peter Ogden                               Molly Melville 
 Tel: [phone] 
 
 
 

ABOUT YELLOW CAKE

Yellow Cake is a London-quoted 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 ("U(3) O(8) "). It may also seek to add value through other uranium related activities. Yellow Cake seeks to generate returns for shareholders through the appreciation of the value of its holding of U(3) O(8) 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 U(3) O(8) with Kazatomprom, the world's largest uranium producer. Yellow Cake currently holds 18.81 million pounds of U(3) O(8) , 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 U(3) O(8) , 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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November 09, 2022 04:30 ET (09:30 GMT)