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BASE RESOURCES LIMITED - Issue of LTIP performance rights

AIM and Media Release 

25 November 2019

Issue of LTIP performance rightsBASE RESOURCES LIMITED

(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 ().Base Resources LimitedBase ResourcesCompanyLTIP22 November 2019Tim Carstens

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 .30 September 202218 October 2019

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:Base Resources

[ Vested performance rights have a nil cash exercise price and, unless exercised beforehand, these rights expire on 30 September 2024.]Note 1:

ENDS.

For further information contact:

AboutBase 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 and is developing the in Madagascar.  is an ASX and AIM listed company.  Further details about are available atBase ResourcesToliara ProjectBase ResourcesBase ResourcesKenyawww.baseresources.com.au

Level 1, , 6005 Email:  Phone: +61 (0)8 9413 7400 Fax: +61 (0)8 9322 8912PRINCIPAL & REGISTERED OFFICE




50 Kings Park RoadWest Perth, Western Australia[email protected]

Phone: +61 (0)8 9480 2500NOMINATED ADVISOR
RFC Ambrian Limited


Stephen Allen

/ Detlir Elezi Phone: +44 20 3207 7800JOINT BROKER Berenberg


Matthew Armitt

/ / Phone: +44 20 7260 1000JOINT BROKER
Numis Securities Limited


John PriorJames BlackPaul Gillam

--   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 CarstensMr
                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 FullerJos SimsonBarnaby HaywardManager CommunicationsBase ResourcesTavistock CommunicationsUK[email protected]

Quick facts: Base Resources Limited

Price: -

Market: AIM
Market Cap: -
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