TIDMBSE 
 
AIM and Media Release 
 
26 October 2021 
 
BASE RESOURCES LIMITED 
2021 LTIP cycle performance rights 
 
African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base 
Resources or the Company) advises that 17,420,710 performance rights have been 
granted to eligible employees pursuant to the Base Resources Long Term 
Incentive Plan (LTIP) for the current 2021 cycle. 
 
The performance rights were granted for nil cash consideration and form the 
equity and long-term incentive component of the at-risk remuneration of 
relevant employees for the financial year ending 30 June 2022. 
 
Vesting of the 2021 cycle performance rights is subject to satisfaction of 
performance criteria tied to the Company's total shareholder return performance 
either in absolute or relative terms and certain other gates to vesting, in 
each case, over a three-year performance period that commenced on 1 October 
2021 and concludes on 30 September 2024. 
 
The employees granted 2021 cycle performance rights included senior management 
of the Company classified as persons discharging managerial responsibilities 
for the purposes of the United Kingdom's Market Abuse Regulation.  Their 
updated securityholdings in the Company are set out below. 
 
Name                New 2021    Vested 2018       Unvested         Total      Holding of 
                       cycle          cycle    performance   performance          shares 
                 performance    performance        rights*      rights**     (direct and 
                      rights         rights                                    indirect) 
 
Kevin Balloch        918,981        594,418      2,789,557     3,383,975       3,039,313 
 
Andre Greyling       969,567        562,288      2,799,046     3,361,334       4,193,966 
 
Stephen Hay          965,351        624,812      2,931,573     3,556,385       1,697,999 
 
Chadwick             885,257        518,473      2,603,183     3,121,656       1,448,859 
Poletti 
 
*Includes 2021 cycle performance rights. 
 
**Includes both vested and unvested performance rights which remain subject to 
vesting conditions. 
 
The grant of 2021 cycle performance rights to Tim Carstens will be considered 
by shareholders at Base Resources' upcoming 2021 Annual General Meeting on 
Friday, 26 November 2021.  Accordingly, for further details about the terms of 
the 2021 cycle performance rights, refer to the Company's Notice of 2021 Annual 
General Meeting to be released on 27 October 2021. 
 
Shares acquired on-market by the LTIP trustee have also been allocated to LTIP 
participants following their valid exercise of vested 2017 and 2018 cycle 
performance rights. 
 
As a result of the above events, the Company has the following securities on 
issue: 
 
  * 1,178,011,850 fully paid ordinary shares; 
  * 74,169,717 performance rights issued under the LTIP, comprising: 
      + 8,149,202 vested performance rights, which remain subject to exercise; 
        and 
      + 66,020,515 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. 
 
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 Gareth Tredway 
 
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 3, 46 Colin Street 
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 
 
JOINT BROKER 
Berenberg 
Matthew Armitt / Detlir Elezi 
Phone: +44 20 3207 7800 
 
JOINT BROKER 
Canaccord Genuity 
Raj Khatri / James Asensio / Patrick Dolaghan 
Phone: +44 20 7523 8000 
 
 
 
 
END

(END) Dow Jones Newswires

October 26, 2021 02:17 ET (06:17 GMT)

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