Source - LSE Regulatory
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.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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.
 
END
 
 
RAGEAXNPELDFEEA
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.