LSE Release

Jersey

2021/10/27

YELLOW CAKE PLC

Results of Placing

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


Results of Placing


Yellow Cake plc (AIM: YCA), founded and established by Bacchus Capital to be a specialist company operating in the uranium sector with a view to holding physical uranium for the long-term, is pleased to announce that 30,000,000 new Ordinary Shares (the "Placing Shares") have been placed with existing and new institutional investors at a price of £3.64 per share (the "Placing Price") via an accelerated bookbuild (the "Placing").


The Fundraise was conducted utilising the Company's existing share authorities.


The Placing comprises 30,000,000 new Ordinary Shares, which will raise gross proceeds of approximately £109 million (approximately US$150 million). The Placing Shares being issued represents approximately 19.5% of the existing issued ordinary share capital (excluding treasury shares) of the Company prior to the Placing.


Andre Liebenberg, Chief Executive Office of Yellow Cake, commented:


"I would like to thank our shareholders, both existing and new, for their overwhelming support for this new raise. Once again, we received considerable demand and the success of the raise highlights the growing momentum behind investor interest in uranium. It also serves to demonstrate the key characteristics that make this a compelling time to accelerate our strategy to buy and hold uranium, driven by a combination of supply demand characteristics and the growing appreciation of the role of nuclear in our clean energy future. The successful close of this transaction enables us to acquire a further approximately 3 million pounds of uranium, bringing our total holdings to nearly 19 million pounds, which will have more than doubled during the course of 2021. We continue to believe our investment case is strong."


Placing:


Application has been made for the Placing Shares to be admitted to trading on the AIM market of the London Stock Exchange plc ("AIM") ("Admission"). It is expected that Admission will become effective at commencement of trading on 29 October 2021 and settlement is expected to take place on the same date on a T+2 basis.


The Placing is conditional upon, inter alia, Admission becoming effective and the Placing Agreement not being terminated in accordance with its terms.


Following Admission of all of the Placing Shares: (a) the total number of shares of the Company in issue will be 187,740,730 of which 4,069,498 are held in treasury; and (b) the total number of voting shares in the Company will be 183,671,232.


Other than where defined, capitalised terms used in this announcement have the meanings given to them in the Announcement released by the Company at 6:14 p.m. on 26 October 2021.

Cantor Fitzgerald Canada Corporation ("Cantor"), Canaccord Genuity Limited ("Canaccord") and Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg"), acted as Joint Bookrunners (Cantor, Canaccord and Berenberg, together being the "Joint Bookrunners"). Bacchus Capital Advisers acted as Financial Adviser.