TIDMBSE 
 
AIM and Media Release 
 
27 August 2020 
 
BASE RESOURCES LIMITED 
Exercise of LTIP performance rights 
 
African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base 
Resources or the Company) advises that 6,402,076 new fully paid ordinary shares 
in Base Resources 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 (LTIP). 
 
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. 
 
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 (Executive               1,725,567          7,832,535          7,799,238 
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 
 
* Mr Hay's holding reflects the sale of 397,378 ordinary shares on market on 25 
August 2020 for an average price of A$0.275 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 28 August 
2020. 
 
As a result of the issue of the new shares, the Company has the following 
securities on issue: 
 
  * 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. 
 
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 FCA's Disclosure Guidance and Transparency Rules. 
 
[Note (1): Vested performance rights have a nil cash exercise price and, unless 
exercised beforehand, these rights expire on 30 September 2024.] 
 
ENDS. 
 
For further information contact: 
 
James Fuller, Manager Communications and Investor  UK Media Relations 
Relations 
 
Base Resources                                     Tavistock Communications 
 
Tel: +61 (8) 9413 7426                             Jos Simson and Barnaby Hayward 
 
Mobile: +61 (0) 488 093 763                        Tel: +44 (0) 207 920 3150 
 
Email: jfuller@baseresources.com.au 
 
About Base Resources 
 
Base 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 Kenya 
and is developing the Toliara Project in Madagascar.  Base Resources is an ASX 
and AIM listed company.  Further details about Base Resources are available at 
www.baseresources.com.au 
 
PRINCIPAL & REGISTERED OFFICE 
Level 1, 50 Kings Park Road 
West Perth, Western Australia, 6005 
Email:  info@baseresources.com.au 
Phone: +61 (0)8 9413 7400 
Fax: +61 (0)8 9322 8912 
 
NOMINATED ADVISOR 
RFC Ambrian Limited 
Stephen Allen 
Phone: +61 (0)8 9480 2500 
 
BROKER 
Berenberg 
Matthew Armitt / Detlir Elezi 
Phone: +44 20 3207 7800 
 
 
 
 
END

(END) Dow Jones Newswires

August 27, 2020 02:00 ET (06:00 GMT)

Base Resources (LSE:BSE)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Base Resources Charts.
Base Resources (LSE:BSE)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Base Resources Charts.