BASE RESOURCES LIMITED - Exercise of LTIP performance rights
AIM and Media Release
Exercise of LTIP performance rights
African mineral sands producer, (ASX & AIM: BSE) ( or the ) advises that 6,402,076 new fully paid ordinary shares in have been issued following the exercise by several participants of their 2016 cycle of vested performance rights issued pursuant to the Base Resources Long Term Incentive Plan ().
Those LTIP participants issued new shares included employees classified as “persons discharging managerial responsibilities” for the purposes of the European Union’s Market Abuse Regulation. Their updated securityholdings in the Company are set out below.
*Mr Hay’s holding reflects the sale of 397,378 ordinary shares on market on for an average price of per share for the primary purpose of funding tax liabilities arising from his exercise of vested performance rights.
In accordance with the terms of the LTIP, the new shares were issued for nil cash consideration. An application has been made for the new shares to be admitted to trading on AIM, with admission expected on or around .
As a result of the issue of the new shares, the Company has the following securities on issue:
The figure of 1,178,011,850 ordinary shares on issue may be used by shareholders as the denominator for calculations when determining if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.
[ Vested performance rights have a nil cash exercise price and, unless exercised beforehand, these rights expire on 30 September 2024.]Note (1):
For further information contact:
is an Australian based, African focused, mineral sands producer and developer with a track record of project delivery and operational performance. The company operates the established Kwale Operations in and is developing the in Madagascar. is an ASX and AIM listed company. Further details about are available at
Phone: +61 (0)8 9413 7400
Fax: +61 (0)8 9322 8912PRINCIPAL & REGISTERED OFFICE
Phone: +61 (0)8 9480 2500NOMINATED ADVISOR
/ Detlir Elezi
Phone: +44 20 3207 7800
Name Vested performance Holding of Holding of shares rights exercised and performance rights (direct and new shares issued indirect) Tim Carstens 1,725,567 7,832,535 7,546,013 (Managing Director) Colin Bwye 1,725,567 7,832,535 7,799,238 (Executive Director) Kevin Balloch 691,333 2,776,845 2,691,333 Andre Greyling 622,200 2,608,853 3,885,629 Stephen Hay 770,343 2,919,149 1,512,091* Chadwick Poletti 355,543 2,426,397 1,162,546
-- 1,178,011,850 ordinary shares. -- 62,765,465 performance rights issued pursuant to the terms of the LTIP, comprising: -- 125,531 vested performance rights, which remain subject to exercise1. -- 62,639,934 unvested performance rights subject to performance testing in accordance with their terms of issue.
, and Investor Media Relations Relations Tel: +61 (8) 9413 7426 and Mobile: +61 (0) 488 093 763 Tel: +44 (0) 207 920 3150 Email:
James Fuller Jos Simson Barnaby Hayward Manager Communications Base Resources Tavistock Communications UK[email protected]
Quick facts: Base Resources Limited
Market Cap: £164.92 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE