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Yellow Cake Plc LSE:YCA London Ordinary Share JE00BF50RG45 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
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General Industrials 0.0 21.7 24.7 13.4 511

Yellow Cake PLC Grant and Exercise of Share Options

26/07/2021 7:01am

UK Regulatory (RNS & others)


Yellow Cake (LSE:YCA)
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TIDMYCA

RNS Number : 3677G

Yellow Cake PLC

26 July 2021

26 July 2021

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

Grant and Exercise of Share Options

Yellow Cake plc (the "Company") , a nnounces the grant of share options over the Company's ordinary shares on 26 July 2021 under the Rules of the Yellow Cake plc Share Option Plan 2019 to the Chief Executive Officer and the Chief Financial Officer, as part of the annual bonus award in respect of the year to 31 March 2020 ("Options"). The Company also announces the exercise of all of the Options on the same date.

The annual bonus award, described in the Company's 2020 Annual Report, was divided into two tranches, both with a vesting date of 8 July 2021. The grant of the first tranche was made on 8 July 2020 and the second tranche was granted today. Further detail on the award and grant can be seen in the Company's 2020 Annual Report, which also includes the performance criteria for the 2020 annual bonus calculation, as well as in the Company's 2021 Annual Report published this morning(1) . The Options have an exercise price of 1 pence per share and expire 6 months after the vesting date.

Details of the Options and the resultant shareholdings are set out below:

 
PDMR               Position                    Options Granted on 26      Exercise of Options   Resultant total number 
                                                           July 2021   granted on 8 July 2020       of Ordinary Shares 
                                                                       and granted on 26 July                   owned* 
                                                                                         2021 
Andre Liebenberg   Chief Executive Officer                    20,879                   48,271                  121,478 
                                             -----------------------  -----------------------  ----------------------- 
Carole Whittall    Chief Financial Officer                    16,703                   38,616                   49,918 
                                             -----------------------  -----------------------  ----------------------- 
 

(*) Includes previous direct share purchases.

This notification is made under Article 19 of the UK Market Abuse Regulation.

 
            1.   Details of the person discharging managerial responsibilities / person closely associated 
 a.              Name                                                       Andre Liebenberg 
                ---------------------------------------------------------  ------------------------------------------- 
            2.   Reason for the notification 
                ------------------------------------------------------------------------------------------------------ 
            a.   Position/status                                            Chief Executive Officer 
                ---------------------------------------------------------  ------------------------------------------- 
            b.   Initial notification /Amendment                            Initial notification 
                ---------------------------------------------------------  ------------------------------------------- 
            3.   Details of the issuer, emission allowance market participant, auction platform, auctioneer 
                  or auction monitor 
                ------------------------------------------------------------------------------------------------------ 
            a.   Name                                                       Yellow Cake plc 
                ---------------------------------------------------------  ------------------------------------------- 
            b.   LEI                                                        213800CVMYUGOA9EZY95 
                ---------------------------------------------------------  ------------------------------------------- 
            4.   Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) 
                  each type of transaction; (iii) each date; and (iv) each place where transactions have been 
                  conducted 
                ------------------------------------------------------------------------------------------------------ 
            a.   Description of the financial instrument, type of           Ordinary Shares 
                 instrument, identification code                             ISIN Code JE00BF50RG45 
                ---------------------------------------------------------  ------------------------------------------- 
            b.   Nature of the transaction                                  Grant of Options 
                ---------------------------------------------------------  ------------------------------------------- 
            c.   Price(s) and volume(s)                                     Exercise price: 1.0 p per share   20,879 
                                                                                                               options 
                ---------------------------------------------------------  --------------------------------  --------- 
            d.        Aggregated information 
                        *    Aggregated volume                                           As for c above 
 
 
                        *    Price 
                ---------------------------------------------------------  ------------------------------------------- 
            e.   Date of the transaction                                    26 July 2021 
                ---------------------------------------------------------  ------------------------------------------- 
            f.   Place of the transaction                                   Off market 
                ---------------------------------------------------------  ------------------------------------------- 
 
 
 4.      Details of the transaction(s): section to be repeated 
          for (i) each type of instrument; (ii) each type of transaction; 
          (iii) each date; and (iv) each place where transactions 
          have been conducted 
    g.   Description of the financial       Ordinary Shares 
          instrument, type of instrument,    ISIN Code JE00BF50RG45 
          identification code 
        ---------------------------------  ------------------------------------------------------------------------- 
    h.   Nature of the transaction          Exercise of Options granted on 8 July 2020 and granted on 26 July 2021 
        ---------------------------------  ------------------------------------------------------------------------- 
    i.   Price(s) and volume(s)             Exercise price: 1.0 p per share                           48,271 
                                                                                                       options 
        ---------------------------------  --------------------------------------------------------  --------------- 
    j.        Aggregated information 
                *    Aggregated volume        As for c above 
 
 
                *    Price 
        ---------------------------------  ------------------------------------------------------------------------- 
    k.   Date of the transaction            26 July 2021 
        ---------------------------------  ------------------------------------------------------------------------- 
    l.   Place of the transaction           Off market 
        ---------------------------------  ------------------------------------------------------------------------- 
 
 
 1.              Details of the person discharging managerial responsibilities / person closely associated 
 a.              Name                                                       Carole Whittall 
                ---------------------------------------------------------  ------------------------------------------- 
            2.   Reason for the notification 
                ------------------------------------------------------------------------------------------------------ 
            a.   Position/status                                            Chief Financial Officer 
                ---------------------------------------------------------  ------------------------------------------- 
            b.   Initial notification /Amendment                            Initial notification 
                ---------------------------------------------------------  ------------------------------------------- 
            3.   Details of the issuer, emission allowance market participant, auction platform, auctioneer 
                  or auction monitor 
                ------------------------------------------------------------------------------------------------------ 
            a.   Name                                                       Yellow Cake plc 
                ---------------------------------------------------------  ------------------------------------------- 
            b.   LEI                                                        213800CVMYUGOA9EZY95 
                ---------------------------------------------------------  ------------------------------------------- 
            4.   Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) 
                  each type of transaction; (iii) each date; and (iv) each place where transactions have been 
                  conducted 
                ------------------------------------------------------------------------------------------------------ 
            a.   Description of the financial instrument, type of           Ordinary Shares 
                 instrument, identification code                             ISIN Code JE00BF50RG45 
                ---------------------------------------------------------  ------------------------------------------- 
            b.   Nature of the transaction                                  Grant of Options 
                ---------------------------------------------------------  ------------------------------------------- 
            c.   Price(s) and volume(s)                                     Exercise price: 1.0 p per share   16,703 
                                                                                                               options 
                ---------------------------------------------------------  --------------------------------  --------- 
            d.        Aggregated information 
                        *    Aggregated volume                                           As for c above 
 
 
                        *    Price 
                ---------------------------------------------------------  ------------------------------------------- 
            e.   Date of the transaction                                    26 July 2021 
                ---------------------------------------------------------  ------------------------------------------- 
            f.   Place of the transaction                                   Off market 
                ---------------------------------------------------------  ------------------------------------------- 
 
 
 4.              Details of the transaction(s): section to be repeated 
                  for (i) each type of instrument; (ii) each type of transaction; 
                  (iii) each date; and (iv) each place where transactions 
                  have been conducted 
 g.              Description of the financial       Ordinary Shares 
                  instrument, type of instrument,    ISIN Code JE00BF50RG45 
                  identification code 
                ---------------------------------  ------------------------------------------------------------------- 
            h.   Nature of the transaction          Exercise of Options granted on 8 July 2020 and granted on 26 July 
                                                    2021 
                ---------------------------------  ------------------------------------------------------------------- 
            i.   Price(s) and volume(s)             Exercise price: 1.0 p per share                     38,616 
                                                                                                         options 
                ---------------------------------  --------------------------------------------------  --------------- 
            j.        Aggregated information 
                        *    Aggregated volume        As for c above 
 
 
                        *    Price 
                ---------------------------------  ------------------------------------------------------------------- 
            k.   Date of the transaction            26 July 2021 
                ---------------------------------  ------------------------------------------------------------------- 
            l.   Place of the transaction           Off market 
                ---------------------------------  ------------------------------------------------------------------- 
 
 
 Yellow Cake plc 
 Andre Liebenberg, CEO                                           Carole Whittall, CFO 
 +44 (0) 153 488 5200 
 
 Nominated Adviser and Joint Broker: Canaccord Genuity Limited 
 Henry Fitzgerald-O'Connor                                       James Asensio 
 Georgina McCooke 
 + 44 (0) 207 523 8000 
 
 Joint Broker: Berenberg 
 Matthew Armitt                                                  Jennifer Wyllie 
 Varun Talwar                                                    Detlir Elezi 
 Tel: +44 (0) 203 207 7800 
 
 Financial Adviser: Bacchus Capital Advisers 
 Peter Bacchus                                                   Richard Allan 
 Tel: +44 (0) 203 848 1640 
 
 Media/Investor Relations: Powerscourt 
 Peter Ogden 
 +44 (0) 779 3 85 8211 
 

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 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 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 13.31 million lb 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.

[1] The Company's Annual Results Announcement on 19 July included an incorrect reference in Note 10 to the Options grant being deferred to after the Company's Annual General Meeting on 8 September 2021. For the avoidance of doubt the Option grant was agreed by the Company's Remuneration Committee to occur today, 26 July 2021 as also stated in Note 10 of the Annual Report published today.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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END

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July 26, 2021 02:01 ET (06:01 GMT)

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