Base Resources Limited - LTIP performance rights update
April 11 2024 - 1:00AM
UK Regulatory
Base Resources Limited - LTIP performance
rights update
PR Newswire
LONDON, United Kingdom, April 11
AIM
and Media Release
11 April 2024
Base
Resources Limited
LTIP
performance rights update
Base
Resources Limited (ASX &
AIM: BSE) (Base
Resources or
the Company)
advises that 432,112
vested
performance rights granted under the Base Resources Long Term
Incentive Plan (LTIP)
have been exercised.
For each
performance right exercised, LTIP participants were allocated one
fully paid ordinary share in Base Resources previously acquired
on-market by the LTIP trustee.
In
accordance with the terms of the LTIP, the exercise price was nil
and the shares were allocated for nil cash
consideration.
The
performance rights exercised were from the 2020 LTIP cycle, which
vested following performance testing as at 30 September 2023.
The
exercises of vested performance rights occurred during the period
beginning (and including) 27 February
2024 and ending on (and including) 20
March 2024.
As a result of the above events, the Company has the following
securities on issue:
-
1,178,011,850
ordinary shares.
-
72,041,626
performance rights issued pursuant to the terms of the LTIP,
comprising:
-
8,295,847
vested performance rights, which remain subject to
exercise1;
and
-
63,745,779
unvested performance rights subject to performance testing in
accordance with their terms of issue.
[Note
(1):
Vested performance rights have a nil cash exercise price and,
unless exercised beforehand, expire five years after
vesting.]
ENDS.
For
further information contact:
Australian
Media Relations
|
UK Media
Relations
|
Citadel
Magnus
|
Tavistock
Communications
|
Cameron
Gilenko and Michael Weir
|
Jos Simson
and Gareth Tredway
|
Tel: +61 8
6160 4900
|
Tel: +44
207 920 3150
|
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
8 9413 7400
Fax: +61 8
9322 8912
NOMINATED
ADVISER & JOINT BROKER
Canaccord
Genuity Limited
James Asensio / Raj Khatri / George
Grainger
Phone: +44
20 7523 8000
JOINT
BROKER
Berenberg
Matthew Armitt / Detlir Elezi
Phone: +44
20 3207 7800
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