Grant and Exercise of Share Options

RNS Number : 3677G

Yellow Cake PLC

26 July 2021

 

26 July 2021

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

Grant and Exercise of Share Options

Yellow Cake plc (the "Company"), a nnounces the grant of share options over the Company's ordinary shares on 26 July 2021 under the Rules of the Yellow Cake plc Share Option Plan 2019 to the Chief Executive Officer and the Chief Financial Officer, as part of the annual bonus award in respect of the year to 31 March 2020 ("Options"). The Company also announces the exercise of all of the Options on the same date.

The annual bonus award, described in the Company's 2020 Annual Report, was divided into two tranches, both with a vesting date of 8 July 2021. The grant of the first tranche was made on 8 July 2020 and the second tranche was granted today. Further detail on the award and grant can be seen in the Company's 2020 Annual Report, which also includes the performance criteria for the 2020 annual bonus calculation, as well as in the Company's 2021 Annual Report published this morning¹. The Options have an exercise price of 1 pence per share and expire 6 months after the vesting date.

Details of the Options and the resultant shareholdings are set out below:

PDMR	Position	Options Granted on 26 July 2021	Exercise of Options granted on 8 July 2020 and granted on 26 July 2021	Resultant total number of Ordinary Shares owned*
Andre Liebenberg	Chief Executive Officer	20,879	48,271	121,478
Carole Whittall	Chief Financial Officer	16,703	38,616	49,918

^* Includes previous direct share purchases.

This notification is made under Article 19 of the UK Market Abuse Regulation.
 

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Andre Liebenberg
2.	Reason for the notification
a.	Position/status	Chief Executive Officer
b.	Initial notification /Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Yellow Cake plc
b.	LEI	213800CVMYUGOA9EZY95
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the financial instrument, type of instrument, identification code	Ordinary Shares ISIN Code JE00BF50RG45
b.	Nature of the transaction	Grant of Options
c.	Price(s) and volume(s)	Exercise price: 1.0 p per share	20,879 options
d.	Aggregated information · Aggregated volume · Price	As for c above
e.	Date of the transaction	26 July 2021
f.	Place of the transaction	Off market

4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
g.	Description of the financial instrument, type of instrument, identification code	Ordinary Shares ISIN Code JE00BF50RG45
h.	Nature of the transaction	Exercise of Options granted on 8 July 2020 and granted on 26 July 2021
i.	Price(s) and volume(s)	Exercise price: 1.0 p per share	48,271 options
j.	Aggregated information · Aggregated volume · Price	As for c above
k.	Date of the transaction	26 July 2021
l.	Place of the transaction	Off market

 

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Carole Whittall
2.	Reason for the notification
a.	Position/status	Chief Financial Officer
b.	Initial notification /Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Yellow Cake plc
b.	LEI	213800CVMYUGOA9EZY95
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the financial instrument, type of instrument, identification code	Ordinary Shares ISIN Code JE00BF50RG45
b.	Nature of the transaction	Grant of Options
c.	Price(s) and volume(s)	Exercise price: 1.0 p per share	16,703 options
d.	Aggregated information · Aggregated volume · Price	As for c above
e.	Date of the transaction	26 July 2021
f.	Place of the transaction	Off market

 

4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
g.	Description of the financial instrument, type of instrument, identification code	Ordinary Shares ISIN Code JE00BF50RG45
h.	Nature of the transaction	Exercise of Options granted on 8 July 2020 and granted on 26 July 2021
i.	Price(s) and volume(s)	Exercise price: 1.0 p per share	38,616 options
j.	Aggregated information · Aggregated volume · Price	As for c above
k.	Date of the transaction	26 July 2021
l.	Place of the transaction	Off market

 

Yellow Cake plc
Andre Liebenberg, CEO	Carole Whittall, CFO
[phone]
Nominated Adviser and Joint Broker: Canaccord Genuity Limited
Henry Fitzgerald-O'Connor	James Asensio
Georgina McCooke
+ 44 (0) 207 523 8000
Joint Broker: Berenberg
Matthew Armitt	Jennifer Wyllie
Varun Talwar	Detlir Elezi
Tel: [phone]
Financial Adviser: Bacchus Capital Advisers
Peter Bacchus	Richard Allan
Tel: [phone]
Media/Investor Relations: Powerscourt
Peter Ogden
[phone]

 

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 13.31 million lb 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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[1]  The Company's Annual Results Announcement on 19 July included an incorrect reference in Note 10 to the Options grant being deferred to after the Company's Annual General Meeting on 8 September 2021. For the avoidance of doubt the Option grant was agreed by the Company's Remuneration Committee to occur today, 26 July 2021 as also stated in Note 10 of the Annual Report published today.

 

END

 

 

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