Results of 2023 Annual General Meeting

AIM and Media Release 

24 November 2023

Base Resources Limited
Results of 2023 Annual General Meeting

Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) advises that the results of the resolutions put to Base Resources shareholders at today’s meeting are set out in the table below.

All resolutions put to the meeting were decided by poll and were carried, other than items 1 and 5 which were not carried. 

Items 1 and 5 both concerned remuneration-related matters, with item 1 seeking adoption of the Company’s remuneration report for the 2023 financial year.  As 25% or more of the votes cast on item 1 were against the resolution, this constitutes a ‘first strike’ for the purposes of the Corporations Act 2001 (Cth).

The Board will seek to further engage with shareholders to understand their rationale for voting against these remuneration related items.  In the event that their voting decisions were driven by concerns with Base Resources’ remuneration policy and practices, the Board will take these matters into account as part of its consideration of the Company’s future remuneration policy and practices.

Resolution details		Instructions given to validly appointed proxies (as at proxy close)				Number of votes cast on the poll (where applicable)			Resolution Result
Resolution	Resolution Type	For	Against	Proxy's Discretion	Abstain	For	Against	Abstain1	Carried / Not Carried
Item 1 Adoption of the Remuneration Report	Ordinary	195,355,406 24.37%	605,692,843 75.59%	290,555 0.04%	88,514	199,193,020 24.69%	607,597,503 75.31%	853,514	Not Carried
Item 2 Re-election of Mr Michael Stirzaker as a Director	Ordinary	502,122,708 99.67%	1,229,016 0.24%	423,889 0.09%	312,445,703	520,075,292 99.44%	2,929,016 0.56%	312,445,703	Carried
Item 3 Re-election of Mr Malcolm Macpherson as a Director2	Ordinary	Item withdrawn. Director did not seek re-election.
Item 4 Election of Ms Sheila Khama as a Director	Ordinary	814,797,446 99.83%	1,097,457 0.13%	317,489 0.04%	8,924	832,628,630 99.67%	2,797,457 0.33%	23,924	Carried
Item 5 Approval of the Grant of Performance Rights to Mr Tim Carstens	Ordinary	196,582,803 37.84%	322,541,872 62.10%	272,389 0.06%	296,824,252	204,970,394 38.66%	325,212,532 61.34%	305,267,085	Not Carried

Note (1):  Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.

Note (2):  As at today’s date, Mr Macpherson did not own or control any Base Resources securities. 

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: [phone]	Tel: [phone]

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:  [e-mail]
Phone: [phone]
Fax: [phone]

NOMINATED ADVISER & JOINT BROKER
Canaccord Genuity Limited
James Asensio / Raj Khatri / George Grainger
Phone: [phone]

JOINT BROKER
Berenberg
Matthew Armitt / Detlir Elezi
Phone: [phone]

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