Results of AGM

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: [phone]
Nominated Adviser and Joint Broker: Canaccord Genuity Limited
Henry Fitzgerald-O'Connor	James Asensio
Georgina McCooke Tel: [phone]
Joint Broker: Berenberg
Matthew Armitt	Jennifer Wyllie
Varun Talwar	Detlir Elezi
Tel: [phone]
Financial Adviser: Bacchus Capital Advisers
Peter Bacchus	Richard Allan
Tel: [phone]
Investor Relations: Powerscourt
Peter Ogden	Linda Gu
Tel: [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 13.86 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.

 

END

 

 

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