REG - Yellow Cake PLC - Results of 2022 Annual General Meeting

Yellow CakeAnnouncement

07/09/2022 11:30

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RNS Number : 6180Y  Yellow Cake PLC  07 September 2022

7 September 2022

 

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

Results of 2022 Annual General Meeting

 

Yellow Cake, a specialist company operating in the uranium sector holding
physical uranium ("U(3)O(8)") for the long term, is pleased to announce that
at the Annual General Meeting of the Company held on 7 September 2022 ("AGM"
or the "Meeting") all resolutions were duly passed. Resolutions 1-11 were
passed as ordinary resolutions and resolutions 12 and 13 were passed as
special resolutions.

The full text of 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 FOR   %       VOTES AGAINST  %      TOTAL VOTES VALIDLY CAST  % OF SHARE CAPITAL WITH VOTING RIGHTS  VOTES WITHHELD

 1    Annual Report and Accounts                                    83,009,186  100.00  0              0      83,009,186                45.33                                  125,370
 2    Re-appoint Anthony Tudor St John, The Lord St John of Bletso  75,248,721  90.52   7,880,269      9.48   83,128,990                45.40                                  5,566
 3    Re-appoint Andre Liebenberg                                   82,975,435  99.82   151,833        0.18   83,127,268                45.40                                  7,288
 4    Re-appoint Carole Whittall                                    82,981,769  99.82   147,500        0.18   83,129,269                45.40                                  5,287
 5    Re-appoint Sofia Bianchi                                      82,058,929  98.71   1,070,340      1.29   83,129,269                45.40                                  5,287
 6    Re-appoint Alexander Downer                                   82,057,204  98.71   1,073,178      1.29   83,130,382                45.40                                  4,174
 7    Re-appoint Alan Rule                                          82,056,925  98.71   1,072,065      1.29   83,128,990                45.40                                  5,566
 8    Re-appoint Emily Manning                                      81,825,568  98.44   1,300,837      1.56   83,126,405                45.40                                  8,151
 9    Re-appoint auditor                                            83,097,034  99.96   31,564         0.04   83,128,598                45.40                                  5,958
 10   Auditor's remuneration                                        83,129,292  99.99   291            0.01   83,129,583                45.40                                  4,973
 11   Authority to allot shares                                     71,657,809  86.21   11,462,542     13.79  83,120,351                45.40                                  14,205
 12   Disapply pre-emption rights                                   82,209,320  98.90   916,831        1.10   83,126,151                45.40                                  8,405
 13   Authority to purchase own shares                              82,991,003  99.99   2,618          0.01   82,993,621                45.33                                  140,935

 

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 22 July 2022, being the date used
to determine the entitlement of shareholders to attend and vote at the General
Meeting, the Company's issued share capital was 187,740,730 Ordinary Shares,
the number of Ordinary Shares held in treasury was 4,636,331 and the total
voting rights in the Company were therefore 183,104,339.

 

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 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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