Notice of change of Significant Shareholder

AIM and Media Release 

3 March 2020

BASE RESOURCES LIMITED
Notice of change of Significant Shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that it has today received notification from Bank of America Corporation that it and its related bodies corporate (Bank of America) have increased their voting power in Base Resources to 90,789,102 ordinary shares, representing 7.75% of the total Base Resources ordinary shares on issue and constituting a significant shareholding for the purposes of the AIM Rules for Companies.

Bank of America’s interest in 90,789,102 ordinary shares is held as follows:

Holder of interest Nature of interest Registered holder of shares Number of ordinary shares
Merrill Lynch (Australia) Futures Ltd Power to control voting and/or disposal of securities in its capacity as ultimate beneficial owner having a principal position. Merrill Lynch (Australia) Nominees Pty Ltd 60,626,629
Merrill Lynch International (Australia) Ltd Borrowing of securities pursuant to a Prime Brokerage Agreement, with power to control the voting and/or disposal of borrowed securities. Merrill Lynch (Australia) Nominees Pty Ltd 30,162,473

The increase in Bank of America’s holding for the purposes of the AIM Rules for Companies was the net result of the borrowing and return of ordinary shares pursuant to prime brokerage agreements, and the result of the acquisition of ordinary shares, in each case, on and from 26 February 2020. 

Bank of America acquired 20,006,417 shares for an average price of A$0.190 per share between 26 February 2020 and 28 February 2020 (excluding any securities borrowed pursuant to a prime brokerage agreement).  Other than by the return of securities pursuant to a prime brokerage agreement, Bank of America did not otherwise dispose of any securities from 26 February 2020 and 28 February 2020.

A copy of the notice referred to in this release is available from the Company’s website:  www.baseresources.com.au.

ENDS.

For further information contact:

James Fuller, Manager Communications and Investor Relations UK Media 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

JOINT BROKER
Berenberg

Matthew Armitt / Detlir Elezi
Phone: +44 20 3207 7800

JOINT BROKER
Numis Securities Limited

John Prior / James Black / Paul Gillam
Phone: +44 20 7260 1000

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