Yellow Cake PLC COMMENCEMENT OF TRADING ON OTCQX (6915P)
June 22 2022 - 2:00AM
UK Regulatory
TIDMYCA
RNS Number : 6915P
Yellow Cake PLC
22 June 2022
22 June 2022
Yellow Cake plc ("Yellow Cake" or the "Company")
COMMENCEMENT OF TRADING ON OTCQX
Yellow Cake, a specialist company operating in the uranium
sector holding physical uranium for the long term, is pleased to
announce that it has qualified to trade on the OTCQX(R) Best
Market, t he OTC Markets Group's premier market for established
companies . Yellow Cake upgraded to OTCQX from the Pink(R) market
and begins trading today on OTCQX under the symbol "YLLXF". Yellow
Cake's ordinary shares will remain quoted on the AIM market of the
London Stock exchange under the ticker symbol "YCA".
By upgrading to the OTCQX, Yellow Cake offers its current and
prospective U.S. investors improved market visibility, increased
trading liquidity and the most up-to-date information otherwise not
found on the Pink(R) market. Approximately 48% of the Company's
investor base is in North America. To qualify for OTCQX, companies
must meet high financial standards, follow best practice corporate
governance and demonstrate compliance with applicable securities
laws.
OTC Markets Group Inc. is an operator of financial markets for
12,000 U.S. and global securities. U.S. investors can find current
financial disclosure and Real-Time Level 2 quotes for the Company
at www.otcmarkets.com/stock/YLLXF.
Galanopoulos & Company acted as the company's OTCQX
sponsor.
Andre Liebenberg, CEO of Yellow Cake, said:
"We are delighted to have qualified to begin trading our shares
on the OTCQX Market. It highlights the growing profile of our
business, but also the increased awareness and endorsement of our
long term investment case. Further, around half of our investors
are already based in North America, so it is only right we take the
steps to provide them with greater liquidity and market visibility.
Trading on OTCQX Market is another important milestone in the
continued development of Yellow Cake. The supply demand
fundamentals that have driven the growth in Yellow Cake to date are
as relevant today as they were when we first chose to list in
London. Recent geopolitical events only serve to reaffirm those
fundamentals. We remain as confident as ever in our strategy and in
our ability to deliver long term value for our shareholders."
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
G ordon Hamilton
Tel: +44 (0) 207 523 8000
Joint Broker: Berenberg
Matthew Armitt Jennifer Lee
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 Molly Melville
Tel: +44 (0) 7793 858 211
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 ("U(3) O(8) "). 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 U(3) O(8) 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 U(3) O(8) with Kazatomprom, the world's largest
uranium producer. Yellow Cake currently holds 17.86 million pounds
of U(3) O(8) , 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 U(3) O(8) , 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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