Yellow Cake

Shareholders of Yellow Cake approved all 14 proposals at the annual general meeting, including the re-election of seven directors, approval of the annual report, reappointment of the auditor and authorisations to issue and buy back the company’s own shares. Resolution 13, to disapply pre-emption rights, was passed with 78.64% in favour; the company said it will, in accordance with the UK Corporate Governance Code, engage with shareholders who voted against it and publish an update within six months. Attendance varied by resolution at around 58.9% of the voting share capital; Yellow Cake currently holds 24.4 million pounds of U3O8 and has 251,295,208 voting rights. » Plus sur de.investing.com

Yellow Cake has granted CEO Andre Liebenberg options on 27,065 ordinary shares and CFO Carole Whittall options on 11,502 shares under the Share Option Plan 2019 at an exercise price of £6.33. The options will vest on 1 April 2029 provided performance targets set over the three years from 1 April 2026 are met. The assessment (80%) is based on share-price performance versus benchmarks including Sprott Physical Uranium Trust, the U3O8 spot price and a basket of three uranium ETFs; 20% is based on growth of uranium holdings and income. Yellow Cake currently holds 24.4 million pounds of U3O8 in storage in Canada and France. » Plus sur de.investing.com

Yellow Cake placed around 23 million new ordinary shares with institutional investors and raised gross $175m. The price was £5.64 per share; the size was increased from an initial $125m due to strong demand. Yellow Cake will use the proceeds to exercise its uranium purchase option for 2025 with Kazatomprom and for opportunistic uranium purchases; holdings are expected to be above 23 million pounds U3O8 after the purchases. » Plus sur de.investing.com