4 November 2022

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

Award of Share Options

Yellow Cake, a specialist company operating in the uranium sector holding physical uranium for the long term, announces the grant of new share options on 3 November 2022 to the Chief Executive Officer and the Chief Financial Officer. These long-term incentive options are granted under the rules of the Yellow Cake plc Share Option Plan 2019.

Details of the grant are summarised below:

All options awarded on 3 November 2022 have an exercise price of 475 pence per share and will be exercisable three years after the date of grant, save in certain circumstances including a change of control of the Company, and will expire ten years after the date of grant.

The exercise price of 475 pence per share represents the higher of the average of the mid-market closing price of the ordinary shares of the Company on AIM over the five consecutive dealing days immediately preceding the grant date and the estimated Net Asset Value per share at grant.

This notification is made under Article 19 of the UK Market Abuse Regulation.

ENQUIRIES: 

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 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 18.81 million pounds of U₃O₈, all of which is held in storage in Canada and France.