RCS - Yellow Cake PLC - Yellow Cake plc named to 2024 OTCQX Best 50

Yellow CakeAnnouncement

19/01/2024 07:00

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RNS Number : 2184A  Yellow Cake PLC  19 January 2024

 

19 January 2024

Yellow Cake plc named to 2024 OTCQX Best 50

Yellow Cake plc ("Yellow Cake" or the "Company"), a specialist company
operating in the uranium sector holding physical uranium for the long term, is
pleased to announce it has been named to the 2024 OTCQX® Best 50, a ranking
of top performing companies traded on the OTCQX Best Market last year.

The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international
companies traded on the OTCQX market. The ranking is calculated based on an
equal weighting of one-year total return and average daily dollar volume
growth in the previous calendar year. Companies in the 2024 OTCQX Best 50 were
ranked based on their performance in 2023.

Yellow Cake was first admitted to trading on the AIM Market of the London
Stock Exchange via an IPO in July 2018, with a valuation and equity raising of
approximately £151 million (US$200 million). Yellow Cake was subsequently
admitted to trading on OTCQX in June 2022, with a market capitalisation at
that time of £591 million (US$724 million).

Today, Yellow Cake is valued at £1,582 million (US$2,002 million) 1 , and the
Company has grown to become one of the largest holders of physical uranium in
the world.

Andre Liebenberg, CEO of Yellow Cake, said:

"We are proud to have been named to the 2024 OTCQX® Best 50. It's a sign of
the considerable progress we have made and the value we have delivered on
behalf of our shareholders since taking the decision to join the OTCQX market.
Though we celebrate our nomination today we remain fully focused on the
future. We continue to see a hugely compelling investment case for uranium,
driven by the same supply demand fundamentals that saw us come to OTCQX in
2022. Nuclear power is now accepted globally as a core element of the future
clean energy mix driven by long term demand, while geological and geopolitical
factors will put a strain on future supply. We look forward with real
confidence in our strategy and the outlook for uranium."

For the complete 2024 OTCQX Best 50 ranking, visit
https://www.otcmarkets.com/files/2024_OTCQX_Best_50.pdf.

The OTCQX Best Market offers transparent and efficient trading of established,
investor-focused U.S. and global companies. To qualify for the OTCQX market,
companies must meet high financial standards, follow best practice corporate
governance, and demonstrate compliance with applicable securities laws.

Ends

 

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
 Ana Ercegovic

Tel: +44 (0) 207 523 8000

 Joint Broker: Berenberg
 Matthew Armitt                       Jennifer Lee
 Detlir Elezi
 Tel: +44 (0) 203 207 7800
 Financial Adviser: Bacchus Capital Advisers
 Peter Bacchus                        Richard Allan
 Tel: +44 (0) 203 848 1640
 Communications Adviser: Powerscourt
 Peter Ogden
 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 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 20.16
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.

 

 1  As at market close on 17 January 2024.

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