REG - Yellow Cake PLC - COMMENCEMENT OF TRADING ON OTCQX

Yellow CakeAnnouncement

22/06/2022 07:00

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RNS Number : 6915P  Yellow Cake PLC  22 June 2022

22 June 2022

 

 

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

COMMENCEMENT OF TRADING ON OTCQX

Yellow Cake, a specialist company operating in the uranium sector holding
physical uranium for the long term, is pleased to announce that it has
qualified to trade on the OTCQX® Best Market, the OTC Markets Group's premier
market for established companies. Yellow Cake upgraded to OTCQX from the
Pink® market and begins trading today on OTCQX under the symbol "YLLXF".
Yellow Cake's ordinary shares will remain quoted on the AIM market of the
London Stock exchange under the ticker symbol "YCA".

By upgrading to the OTCQX, Yellow Cake offers its current and prospective U.S.
investors improved market visibility, increased trading liquidity and the most
up-to-date information otherwise not found on the Pink® market. Approximately
48% of the Company's investor base is in North America. To qualify for OTCQX,
companies must meet high financial standards, follow best practice corporate
governance and demonstrate compliance with applicable securities laws.

OTC Markets Group Inc. is an operator of financial markets for 12,000 U.S. and
global securities. U.S. investors can find current financial disclosure and
Real-Time Level 2 quotes for the Company at www.otcmarkets.com/stock/YLLXF
(http://www.otcmarkets.com/stock/YLLXF) .

Galanopoulos & Company acted as the company's OTCQX sponsor.

Andre Liebenberg, CEO of Yellow Cake, said:

"We are delighted to have qualified to begin trading our shares on the OTCQX
Market. It highlights the growing profile of our business, but also the
increased awareness and endorsement of our long term investment case. Further,
around half of our investors are already based in North America, so it is only
right we take the steps to provide them with greater liquidity and market
visibility. Trading on OTCQX Market is another important milestone in the
continued development of Yellow Cake. The supply demand fundamentals that have
driven the growth in Yellow Cake to date are as relevant today as they were
when we first chose to list in London. Recent geopolitical events only serve
to reaffirm those fundamentals. We remain as confident as ever in our strategy
and in our ability to deliver long term value for our shareholders."

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

 Investor Relations: 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 17.86
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.

 

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