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Yellow Cake PLC (YCA)

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Thursday 01 April, 2021

Yellow Cake PLC

Board Change

RNS Number : 2161U
Yellow Cake PLC
01 April 2021
 

1 April 2021

 

 

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

Board Change

 

Yellow Cake, a specialist company operating in the uranium sector, with a view to holding physical uranium for the long term, is pleased to confirm the appointment of Emily Manning as an independent non-executive director with effect from 31 March 2021. Emily acts as a Client Director of Langham Hall Fund Management (Jersey) Limited, which provides administrative services to the Company.

Emily has over 12 years of experience in the Jersey finance industry, with a background in real estate, funds, corporate and private clients. She currently holds directorships with a number of real estate and private equity-based boards with a focus on commercial retail, private and residential development and European industrial logistics. She has also previously held directorships for a number of listed and regulated funds and real estate companies, including board positions with some of London's largest real estate developments, and oversaw capital markets transactions as part of a portfolio worth over US$13bn AUM.

Emily brings to the board comprehensive knowledge of the running and regulations of Jersey structures with a strong understanding of internal governance and company secretarial experience.

Emily has been a Principal Person with the Jersey Financial Services Commission since 2018 and holds her ICSA Diploma table 4 qualification.

Emily's appointment follows the resignation of Alexandra Nethercott-Parkes   as an independent non-executive director with effect from 31 March 2021. The Board would like to take this opportunity to express its sincere gratitude to Alexandra for her significant contribution to Yellow Cake.

Further information in relation to the Director appointment

Emily Manning

Emily Manning (aged 32) has confirmed that, other than the information disclosed below, there are no matters to be disclosed under Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules.

 

Current directorships

 

Present Made Eddington Property Company Limited

CSHV IUK ET ResiCo Limited

Gramercy Property Europe IV CC GP Limited

Present Made Houghton Conquest Property Company Limited

CSHV IUK KB Holdco Limited

BLG Real Estate II Limited

Graduate Two Limited - in voluntary liquidation*

CSHV IUK KB Propco Limited

BLG Real Estate Limited

Athena Holding Limited

Wessex Winchester Propco Limited

BLG Capital Limited

DFG TO GP Limited

Eagle Island Limited

95 QVS Limited

DFI Jersey Holding GP Limited

Kimpton Limited

Kings Park Capital II GP (Jersey) Limited

DFI Olympus Jersey Holding GP Limited

MCTGF Trustee 1 Limited

Mitheridge Opportunity Fund II GP LLP  

DFTO Jersey Holdings GP Limited

MCTGF Trustee 2 Limited

Volcap Student Homes GP Limited  

CSHV IUK BW Holdco Limited

Marchmont Last Mile UK Logistics GP Limited

Grand South Limited

CSHV IUK BW Propco Limited

Marchmont Wokingham Limited

Solas Investment Limited

CSHV IUK ET DevCo Limited

Picture Living Trustee 1 Ltd

Solas Property Holding GP Limited

CSHV IUK ET Holdco Limited

Picture Living Unitholder Ltd

MOF Lender Limited

CSHV IUK ET OfficeCo Limited

Uninn Investment Fund Limited

Chenies Street Limited

CSHV IUK ET Propco Limited

GEJ Holding Limited

ATIM UK Property Holdings Limited

 

* Graduate Two Limited was put into liquidation on the 24th December 2020, following the transfer of the main asset, the Company no longer provided any economic or strategic value and the board considered that it was appropriate to take steps to initiate the winding up of the company.  
 

Previous directorships held in the last 5 years

 

Verity Property Bond Fund Limited

Paloma I (Retail I) Trustee I Limited

STEMS US Properties Limited

Swiss Equity Capital Investment V Limited

Paloma I (Retail I) Trustee II Limited

Trea Holdings Jersey Limited

Mali Limited

Paloma I (Unitholder) Limited

Tres Holdings Jersey Limited

Gramercy-Townsend Feeder 2 Limited

Paloma II (Industrial I) Trustee Limited

TRG Holdings Jersey Limited

Gramercy Property Europe IV Townsend Feeder Limited

Paloma II (Industrial II) Trustee I Limited

TRP Holdings Jersey Limited

MOF SPV Limited  

Paloma II (Industrial II) Trustee II Limited

Black Diamond US Properties Limited

AI Senior Capital (GP) Limited

Paloma II (Industrial III) Trustee I Limited

BLG Aparts Limited

AI Senior Capital Second Unitholder Limited

Paloma II (Industrial III) Trustee II Limited

BLG Finance Limited

AI Senior Capital Trustee Limited

Paloma II (Office I) Trustee I Limited

Luxgrove General Partner Ltd

Paloma I (Industrial I) Trustee I Limited

Paloma II (Office I) Trustee II Limited

Willow Brook Centre Bristol Limited

Paloma I (Industrial I) Trustee II Limited

Paloma II (Unitholder) I Limited

Bolingbroke Office Trustee 1 Limited

Paloma I (Industrial II) Trustee I Limited

WGIF (Jersey) Trustee I Limited

Bolingbroke Office Trustee 2 Limited

Paloma I (Industrial II) Trustee II Limited

WGIF (Jersey) Trustee II Limited

Norfolk Partners Limited

Paloma I (Industrial III) Trustee I Limited

Olympus Hospitality Holding Ltd

WLIF (Jersey) Trustee I Limited

Paloma I (Industrial III) Trustee II Limited

Olympus Jersey Holding Ltd

WLIF (Jersey) Trustee I Limited

Paloma I (Office I) Trustee I Limited

Olympus Property Holding Ltd

WLIF Unitholder Limited

Paloma I (Office I) Trustee II Limited

Olympus Residential Holding Ltd

 

 

Shareholding in the Company  

Nil.

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

 

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-listed company founded and established by Bacchus Capital and 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 9.86 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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