Final director’s interest and LTIP update
AIM and Media Release
1 April 2022
BASE RESOURCES LIMITED
Final director’s interest and LTIP update
African mineral sands producer and developer, Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) advises that, following his previously announced retirement on 31 March 2022, former Executive Director – Operations and Development, Colin Bwye’s final interests in the securities of the Company was 7,199,238 ordinary shares.
Mr Bwye’s final interest follows the automatic forfeiture of his 5,604,456 unvested performance rights issued under the Base Resources Long Term Incentive Plan (LTIP) on the date of his retirement in accordance with the terms of that plan.
Subsequent to the Company’s last LTIP update, a further 561,886 vested performance rights from the 2018 LTIP cycle were exercised by other LTIP participants. The relevant participants were allocated one fully paid ordinary share in Base Resources previously acquired on-market by the LTIP trustee for each performance right exercised. In accordance with the terms of the LTIP, the exercise price was nil and the shares were allocated for nil cash consideration.
As a result of the forfeiture and exercises of performance rights mentioned above, the Company has the following securities on issue:
- 1,178,011,850 ordinary shares.
- 62,556,558 performance rights issued pursuant to the terms of the LTIP, comprising:
- 949,004 vested performance rights, which remain subject to exercise1; and
- 61,607,554 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:
| James Fuller, Manager Communications and Investor Relations | UK Media 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
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