Business
Result of placing
Result of placing.
About this update from Yellow Cake Plc
[{"type":"text","content":"\n \nRNS Number : 0200W Yellow Cake PLC 12 April 2019 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION IN IT IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR WITHIN THE UNITED STATES, JAPAN OR NEW ZEALAND OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 (\"MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n12 April 2019\n \n \nYellow Cake plc (\"Yellow Cake\" or the \"Company\")\n \n \nResult of Placing of 12 million new ordinary shares in Yellow Cake plc\n \n \nYellow 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 12,000,000 new Ordinary Shares (the \"Placing Shares\") have been placed with existing and new institutional investors at a price of £2.15 per share (approximately US$2.81) (the \"Placing Price\") via an accelerated bookbuild (the \"Placing\"). Due to strong investor demand, the Company agreed with the Joint Bookrunners to increase the size of the Placing to £25.9 million (approximately US$33.9 million) from the £22.9 million (approximately US$30.0 million) originally proposed. The Placing was conducted utilising the Company's existing share authorities. The Placing Price represents a discount of 4.0% to the Company's Net Asset Value (\"NAV\") on 31 March 2019.\n \nAs part of the Placing, certain of the Company's directors have subscribed for 39,086 new Ordinary Shares at the Placing Price.\n \nThe Placing has raised gross proceeds of approximately £25.9 million (approximately US$33.9 million) before expenses and represents approximately 14 per cent of the issued ordinary share capital of the Company following completion of the Placing.\n \nAndre Liebenberg, Chief Executive Office of Yellow Cake, commented:\n \n\"We welcome the support from both our existing and new shareholders to enable us to increase the size of our fundraising, and consequentially t...