REG - Yellow Cake PLC - Results of AGM

Yellow CakeAnnouncement

08/09/2021 11:00

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 ("U3O8") 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 FOR


%


VOTES AGAINST


%


TOTAL VOTES VALIDLY CAST


% OF SHARE CAPITAL WITH VOTING RIGHTS


VOTES WITHHELD




1


Annual Report and Accounts


70,150,069


   100.00 


-


-


70,150,069


         45.65 


8,822




2


Re-appoint Anthony Tudor St John, The Lord St John of Bletso


67,814,603


    96.67 


2,335,466


    3.33 


70,150,069


         45.65 


8,822




3


Re-appoint Andre Liebenberg


70,149,069


     99.99 


1,000


      0.01 


70,150,069


         45.65 


8,822




4


Re-appoint Carole Whittall


70,150,069


   100.00 


-


-


70,150,069


         45.65 


8,822




5


Re-appoint Sofia Bianchi


70,150,069


   100.00 


-


-


70,150,069


         45.65 


8,822




6


Re-appoint Alexander Downer


70,141,569


     99.99 


8,500


    0.01 


70,150,069


         45.65 


8,822




7


Re-appoint Alan Rule


70,148,869


   100.00 


-


-


70,148,869


         45.65 


10,022




8


Re-appoint Emily 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




10


Auditor's remuneration


70,143,869


   100.00 


-


-


70,143,869


         45.65 


15,022




11


Authority to allot shares


70,142,971


     99.99 


7,098


      0.01 


70,150,069


         45.65 


8,822




12


Disapply pre-emption rights


70,141,771


     99.99 


8,098


     0.01


70,149,869


         45.65 


9,022




13


Application of remainder of March 2021 raise proceeds 


70,150,069


100.00 


-


-


70,150,069


         45.65 


8,822




14


Authority to purchase own 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 ("U3O8"). 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 U3O8 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 U3O8 with Kazatomprom, the world's largest uranium producer. Yellow Cake currently holds 13.86 million pounds of U3O8, 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 U3O8, 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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