Receipt of Uranium

RNS Number : 9690T

Yellow Cake PLC

09 July 2018

 

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

This announcement is not an offer of securities for subscription or sale in any jurisdiction. Investors should not subscribe for or purchase any transferable securities referred to in this announcement except in compliance with applicable securities laws on the basis of the information in the admission document ("Admission Document") published by the Company in connection with the placing of its ordinary shares ("Ordinary Shares") and the proposed admission of the Ordinary Shares to trading on AIM, a market of the London Stock Exchange plc. A copy of the Admission Document is available for viewing on the Company's website at www.yellowcakeplc.com.

9 July 2018

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

Closing of IPO and Receipt of Uranium

Yellow Cake, a specialist company operating in the uranium sector with a view to hold long term physical uranium ( "U₃O₈"), is pleased to announce that following the placing and subscription of approximately 76 million ordinary shares (the "Offering") and  admission to the AIM market of the London Stock Exchange (the "Admission" together with the Offering, the "IPO"), 8.1 mmlb of uranium has been received from Kazatomprom, which is stored at Cameco Corporation's Port Hope / Blind River facility in Ontario, Canada.

Yellow Cake's strategy is to be a long term holder of uranium and intends to hold and grow its level of uranium ownership over time. Yellow Cake believes the recent emerging theme of supply side discipline in the uranium market and the industry cost structure will be supportive of this strategy.

Andre Liebenberg, CEO of Yellow Cake, said:

"We would like to thank Kazatomprom for its strong support as a reliable long-term strategic supplier, thereby contributing to the highly successful IPO of Yellow Cake."

Riaz Rizvi, Chief Strategy and Marketing Officer of NAC Kazatomprom JSC said:

"Yellow Cake's successful IPO is another positive outcome in the uranium market, and we are pleased to see the involvement of institutional investors, indicating confidence in the long term prospects of the uranium market."

 ENQUIRIES:

Yellow Cake plc
Andre Liebenberg, CEO	Carole Whittall, CFO
Tel: [phone]
IPO Advisers: Bacchus Capital Advisers Limited
Peter Bacchus	Richard Allan
Paul Cahill	Shea O'Callaghan
Tel: [phone]
Nominated Adviser and Joint Broker: Numis Securities Limited
John Prior	Matthew Hasson
James Black	Paul Gillam
Alamgir Ahmed	Henry Slater
Tel: [phone]
Joint Broker: Berenberg
Matthew Armitt	Sara MacGrath
Charlotte Sutcliffe	Marie-Agnes Stolberg
Tel: [phone]
Investor Relations: Powerscourt
Peter Ogden	Niall Walsh
Tel: [phone]

IMPORTANT INFORMATION

Numis, which is authorised and regulated by the Financial Conduct Authority, and Berenberg, which is authorised by the German Federal Financial Supervisory Authority and subject to limited regulation in the United Kingdom by the Financial Conduct Authority, are acting only for the Company in connection with the Placing and Admission and are not acting for or advising any other person, or treating any other person as their respective client, in relation thereto and will not be responsible for providing the protections afforded to clients of Numis, or Berenberg or for providing advice to any other person in relation to the matters contained herein. Such persons should seek their own independent legal, investment and tax advice as they see fit. Numis' responsibilities as the Company's nominated adviser under the AIM Rules for Nominated Advisers and AIM Rules for Companies will be owed solely to the London Stock Exchange and not to the Company, to any of its directors or any other person in respect of a decision to subscribe for or otherwise acquire Ordinary Shares in reliance on the Admission Document. Neither Numis nor Berenberg have authorised or approved the contents of, or any part of, this announcement and no representation or warranty, express or implied, is made by Numis and Berenberg or their affiliates as to any of its contents.

In the European Economic Area (the "EEA"), this communication is being directed only to and at persons in member states of the EEA who are qualified investors within the meaning of Article 2(1)(e) of the Prospectus Directive, as amended, ("Relevant Persons"). Any person who is not a Relevant Person may not receive this communication and should not act or rely on this announcement or any of its contents. Any investment or investment activity to which this communication relates is available only to Relevant Persons. The term "Prospectus Directive" means Directive 2003/71/EC (as amended) and includes any relevant implementing regulations in each member state of the EEA.

The securities referred to in this communication have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"), and may not be offered or sold in the United States (as defined in Regulation S under the US Securities Act) except in reliance on an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act. There will be no public offering of securities in the United States.

Neither the United States Securities and Exchange Commission ("SEC") nor any securities regulatory body of any state or other jurisdiction of the United States of America, nor any securities regulatory body of any other country or subdivision thereof, has passed on the accuracy or adequacy of the contents of this communication. Any representation to the contrary is unlawful. The Ordinary Shares referred to in this communication will only be offered and sold: (i) outside of the United States in offshore transactions in accordance with Regulation S under the US Securities Act or (ii) within the United States to persons that are reasonably believed to be a "qualified institutional buyer" as defined in Rule 144A under the US Securities Act.

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

 

 

MSCSSUESAFASEFW