BASE RESOURCES LIMITED - Issue of LTIP performance rights
AIM and Media Release
Issue of LTIP performance rights
(ASX & AIM: BSE) ( or the ) advises that, following shareholder approval at the Company’s 2019 Annual General Meeting held on , executive Directors and Colin Bwye have each been issued 2,913,027 performance rights pursuant to the terms of the Base Resources Long Term Incentive Plan ().
Performance rights issued under the LTIP form the equity component of Mr Carstens’ and Mr Bwye’s at-risk remuneration. Accordingly, vesting of the performance rights is subject to satisfaction of performance criteria assessed over a three-year performance period ending on . Further details about performance rights issued under the LTIP are set out in Base Resources’ 2019 Annual Report, as well as its 2019 Notice of Annual General Meeting that was sent to shareholders on or around .
Mr Carstens’ and Mr Bwye’s respective shareholdings are unchanged. As a result of the issue of the new performance rights:
As a result of the above transactions, now has the following securities on issue:
[ Vested performance rights have a nil cash exercise price and, unless exercised beforehand, these rights expire on 30 September 2024.]Note 1:
For further information contact:
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 and is developing the in Madagascar. is an ASX and AIM listed company. Further details about are available at
Phone: +61 (0)8 9413 7400
Fax: +61 (0)8 9322 8912PRINCIPAL & REGISTERED OFFICE
Phone: +61 (0)8 9480 2500NOMINATED ADVISOR
/ Detlir Elezi
Phone: +44 20 3207 7800JOINT BROKER
Phone: +44 20 7260 1000JOINT BROKER
-- now holds: -- 5,820,446 fully paid ordinary shares, which are held by directly and indirectly; and -- 1,725,567 vested performance rights, which are subject to exercise1, and 7,832,535 unvested performance rights subject to performance testing in accordance with their terms of issue. -- Mr Bwye now holds: -- 6,073,671 fully paid ordinary shares, which are held by Bwye directly and indirectly; and -- 1,725,567 vested performance rights, which are subject to exercise1, and 7,832,535 unvested performance rights subject to performance testing in accordance with their terms of issue.
Mr Carstens Mr Carstens
-- 1,171,609,774 fully paid ordinary shares. -- 69,167,541 performance rights issued pursuant to the terms of the LTIP, comprising: -- 6,527,607 vested performance rights, which remain subject to exercise1. -- 62,639,934 unvested performance rights, which are subject to performance testing in accordance with their terms of issue.
, and Investor Media Relations Relations Tel: +61 (8) 9413 7426 and Mobile: +61 (0) 488 093 763 Tel: +44 (0) 207 920 3150 Email:
James Fuller Jos Simson Barnaby Hayward Manager Communications Base Resources Tavistock Communications UK[email protected]
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