26 July 2021
Yellow Cake plc ("Yellow Cake" or the "Company")
Grant and Exercise of Share Options
Yellow Cake plc (the "Company"), announces 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 |
| +44 (0) 153 488 5200 |
|
|
|
|
| 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: +44 (0) 203 207 7800 |
|
|
|
|
| Financial Adviser: Bacchus Capital Advisers |
|
| Peter Bacchus | Richard Allan |
| Tel: +44 (0) 203 848 1640 |
|
|
|
|
| Media/Investor Relations: Powerscourt |
|
| Peter Ogden |
|
| +44 (0) 779 3 85 8211 |
|
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.
[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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
