Bullish indicating open at $55-$60, IPO prices at $37
LONDON - Yellow (OTC:YELLQ) Cake plc (AIM:YCA), a specialist company in the uranium sector, announced Tuesday it has granted nil-cost options over ordinary shares to two executives under its updated Long Term Incentive Plan.
Chief Executive Officer Andre Liebenberg received options for 33,005 shares, while Chief Financial Officer Carole Whittall was granted options for 14,027 shares, according to a company statement. The awards were issued on August 11.
The nil-cost options are subject to performance conditions and will vest on April 1, 2028, following a three-year performance period beginning April 1, 2025.
The vesting criteria include Yellow Cake’s share price performance against industry comparators (80% weighting) and growth in uranium holdings and revenue (20% weighting). Share price performance will be measured against Sprott Physical Uranium Trust, daily U3O8 spot prices, and a basket of three equally weighted uranium ETFs.
The number of shares granted was calculated using a commencement price of £5.05, representing the higher of the company’s net asset value per share as of March 31, 2025, and the mid-market closing price on the last trading day before the financial year-end.
Yellow Cake stated that the updated incentive plan was developed with input from an independent remuneration consultant following consultation with major shareholders. The plan’s details were included in the company’s annual report for the year ended March 31, 2025.
Yellow Cake currently holds 21.68 million pounds of physical uranium (U3O8) stored in Canada and France, and has a ten-year Framework Agreement for uranium supply with Kazatomprom (LON:KAPq).
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