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Share Name Share Symbol Market Type Share ISIN Share Description
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
  -1.50 -0.45% 328.50 329.00 330.00 340.00 325.00 340.00 1,358,331 16:35:22
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Industrials 0.0 21.7 24.7 12.8 603

Yellow Cake PLC Results of AGM

08/09/2021 11:00am

UK Regulatory (RNS & others)


Yellow Cake (LSE:YCA)
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RNS Number : 1033L

Yellow Cake PLC

08 September 2021

8 September 2021

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

Results of 2021 Annual General Meeting

Yellow Cake, a specialist company operating in the uranium sector with a view to holding physical uranium ("U(3) O(8) ") for the long term, announces that at the Annual General Meeting of the Company held on 8 September 2021 ("AGM") all resolutions were passed by the requisite majorities. Resolutions 1 to 11 were passed as ordinary resolutions and resolutions 12 to 14 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          %         VOTES          %         TOTAL          % OF          VOTES 
                                  FOR                    AGAINST                   VOTES         SHARE        WITHHELD 
                                                                                  VALIDLY       CAPITAL 
                                                                                   CAST           WITH 
                                                                                                 VOTING 
                                                                                                 RIGHTS 
      Annual Report 
 1     and Accounts           70,150,069      100.00            -           -   70,150,069           45.65       8,822 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
      Re-appoint Anthony 
       Tudor St John, 
       The Lord St John 
 2     of Bletso              67,814,603       96.67    2,335,466        3.33   70,150,069           45.65       8,822 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
      Re-appoint Andre 
 3     Liebenberg             70,149,069       99.99        1,000        0.01   70,150,069           45.65       8,822 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
      Re-appoint Carole 
 4     Whittall               70,150,069      100.00            -           -   70,150,069           45.65       8,822 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
      Re-appoint Sofia 
 5     Bianchi                70,150,069      100.00            -           -   70,150,069           45.65       8,822 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
      Re-appoint Alexander 
 6     Downer                 70,141,569       99.99        8,500        0.01   70,150,069           45.65       8,822 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
      Re-appoint Alan 
 7     Rule                   70,148,869      100.00            -           -   70,148,869           45.65      10,022 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
      Re-appoint Emily 
 8     Manning                50,280,313       71.68   19,869,756       28.32   70,150,069           45.65       8,822 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
 9    Re-appoint auditor      70,141,569      100.00            -           -   70,141,569           45.64      17,322 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
      Auditor's 
 10   remuneration            70,143,869      100.00            -           -   70,143,869           45.65      15,022 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
      Authority to 
 11    allot shares           70,142,971       99.99        7,098        0.01   70,150,069           45.65       8,822 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
      Disapply pre-emption 
 12    rights                 70,141,771       99.99        8,098        0.01   70,149,869           45.65       9,022 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
      Application of 
       remainder of 
       March 2021 raise 
 13    proceeds               70,150,069      100.00            -           -   70,150,069           45.65       8,822 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
      Authority to 
       purchase own 
 14    shares                 70,151,182      100.00            -           -   70,151,182           45.65       7,709 
     ----------------------  -----------  ----------  -----------  ----------  -----------  --------------  ---------- 
 

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 6 September 2021, 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 157,740,730 Ordinary Shares, the number of Ordinary Shares held in treasury was 4,069,498 and the total voting rights in the Company were therefore 153,671,232 .

The Board notes that resolution 8 (Re-election of Emily Manning) was passed with the necessary majority but received less than 80% of votes in favour. The Company aspires to high levels of shareholder and stakeholder engagement and intends to consult with those major shareholders who voted against these resolutions to understand their specific concerns. The Company will provide an update on this in the coming months in line with the UK Corporate Governance Code.

__________________

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 
 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 
 
 Investor Relations: Powerscourt 
 Peter Ogden                             Linda Gu 
 Tel: +44 (0) 7793 858 211 
 

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 13.86 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.

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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September 08, 2021 06:00 ET (10:00 GMT)

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