REG - Yellow Cake PLC - Changes to the Board of Directors

Yellow CakeAnnouncement

09/11/2022 09:30

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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: +44 (0) 153 488 5200

 Nominated Adviser and Joint Broker: Canaccord Genuity Limited
 Henry Fitzgerald-O'Connor            James Asensio
 Gordon Hamilton

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                          Molly Melville
 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 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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