7 May 2020

Yellow Cake plc (“Yellow Cake” or the “Company”) 

Award of Share Options

Yellow Cake (“Yellow Cake” or the “Company”), a specialist company operating in the uranium sector with a view to holding physical uranium for the long term, announces the grant of new share options on 24 February 2020 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 24 February 2020 have an exercise price of 196.92 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 196.92 pence per share represents 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. 

The maximum number of outstanding share options following the grants referred to above is 152,064, which if exercised, would represent approximately 0.2 per cent of the currently issued ordinary share capital of the Company.

The Notification of Dealing Form set out below is made in fulfilment of the obligation under Article 19 of the EU Market Abuse Regulation.

ENQUIRIES: 

ABOUT YELLOW CAKE

Yellow Cake is a London-listed 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 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 lower cost base and ten-year Framework Agreement for the supply of U3O8 with Kazatomprom, the world’s largest uranium producer. Yellow Cake currently holds 9.62 million lb of U3O8, all of which is held in storage in Canada and France.