9 November 2022
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.
Yellow Cake plc ("Yellow Cake" or the "Company")
Changes to the Board of Directors
Yellow Cake, a specialist company operating in the uranium sector holding physical uranium for the long term, is pleased to confirm the appointment of Claire Brazenall as an independent non-executive director with effect from 9 November 2022. Claire acts as in-house legal counsel and Client Director of Langham Hall Fund Management (Jersey) Limited, which provides administrative services to the Company.
Claire Brazenall (Legal name, Claire Le Quesne) has over 12 years of experience of the Jersey funds industry. Prior to joining Langham Hall Jersey in 2020, Ms. Brazenall spent 10 years in private practice with Carey Olsen Jersey LLP where she gained a wealth of experience of different fund structures and asset classes and was heavily involved in providing regulatory and structuring advice to a range of clients. During her time at Carey Olsen Jersey LLP, she was involved in the closings of over US$100bn of investor commitments into various fund structures.
Claire Brazenall has extensive experience in liaising with the Jersey Financial Services Commission ("JFSC") and The International Stock Exchange and has in-depth knowledge of the relevant Codes of Practice and Jersey financial services regulations. She is approved as a principal person by the JFSC and currently acts as a director on a number of regulated and unregulated funds and Special Purpose Vehicles ("SPV") boards of client companies.
Claire's appointment follows the resignation of Emily Manning as an independent non-executive director with effect from 8 November 2022. The Board would like to take this opportunity to express its sincere gratitude to Emily for her contributions to Yellow Cake.
Further information in relation to the Director appointment
Claire Brazenall
Claire Brazenall (aged 37) 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
Company name |
Anglo Securities Poole Limited |
ASF UK I (Trustee) Limited |
ASF UK Industrial Portfolio 2 Trustee 1 Limited |
ASF UK Industrial Portfolio 2 Trustee 2 Limited |
ASF UK Industrial Portfolio Trustee 1 Limited |
ASF UK Industrial Portfolio Trustee 2 Limited |
ASF UK Touchwood Trustee 1 Limited |
ASF UK Touchwood Trustee 2 Limited |
Bolingbroke Office Trustee 1 Limited |
Bolingbroke Office Trustee 2 Limited |
Carbon Exposure PLC |
Eagle Street Partners ACO Holdings 2 Limited |
Eagle Street Partners ACO Holdings 3 Limited |
Eagle Street Partners ACO Holdings 4 Limited |
Eagle Street Partners ACO Holdings Limited |
Eagle Street Partners ACO1 Limited |
Eagle Street Partners ACO2 Limited |
Eagle Street Partners ACO3 Limited |
Eagle Street Partners ACO4 Limited |
Eagle Street Partners CL Limited |
Eagle Street Partners Group Limited |
Eagle Street Partners Holdings Limited |
Hawthorn Residential Fund GP Ltd |
Postbridge Jersey Limited |
Reading Nominee No.1 Limited |
Reading Nominee No.2 Limited |
Reading Trustee Limited |
Resident Space Advisors Limited |
Student Homes GP Limited |
Willow Brook Centre Bristol Limited |
Crescendo Indigo Net Lease GP Limited |
Patron Capital GP V Limited |
Patron Capital GP VI Limited |
Patron Capital GP VII Limited |
Previous directorships held in the last 5 years
N/A
Shareholding in the Company
Nil.
ENQUIRIES:
Yellow Cake plc | | |
Andre Liebenberg, CEO | Carole Whittall, CFO | |
Tel: +44 (0) 153 488 5200 | | |
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Nominated Adviser and Joint Broker: Canaccord Genuity Limited | | |
Henry Fitzgerald-O'Connor | James Asensio | |
Gordon Hamilton Tel: +44 (0) 207 523 8000 | | |
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Joint Broker: Berenberg | | |
Matthew Armitt | Jennifer Lee | |
Detlir Elezi | | |
Tel: +44 (0) 203 207 7800 | | |
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Financial Adviser: Bacchus Capital Advisers | ||
Peter Bacchus | Richard Allan | |
Tel: +44 (0) 203 848 1640 | | |
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Communications Adviser: Powerscourt | | |
Peter Ogden | Molly Melville | |
Tel: +44 (0) 7793 858 211 | | |
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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.
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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