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BASE RESOURCES LIMITED - Exercise of LTIP performance rights

AIM and Media Release 

27 August 2020

Exercise of LTIP performance rightsBASE RESOURCES LIMITED

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 ().Base Resources LimitedBase ResourcesBase ResourcesCompanyLTIP

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.25 August 2020A$0.275

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 .28 August 2020

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.FCA's

[ Vested performance rights have a nil cash exercise price and, unless exercised beforehand, these rights expire on 30 September 2024.]Note (1):

ENDS.

For further information contact:

AboutBase Resources

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 atBase ResourcesToliara ProjectBase ResourcesBase ResourcesKenyawww.baseresources.com.au

Level 1, , 6005 Email:  Phone: +61 (0)8 9413 7400 Fax: +61 (0)8 9322 8912PRINCIPAL & REGISTERED OFFICE




50 Kings Park RoadWest Perth, Western Australia[email protected]es.com.au

Phone: +61 (0)8 9480 2500NOMINATED ADVISOR
RFC Ambrian Limited


Stephen Allen

/ Detlir Elezi Phone: +44 20 3207 7800  BROKER Berenberg



Matthew Armitt

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 FullerJos SimsonBarnaby HaywardManager CommunicationsBase ResourcesTavistock CommunicationsUK[email protected]

Quick facts: Base Resources Limited

Price: 14

Market: AIM
Market Cap: £164.92 m
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