Base Resources Limited Final director's interest and LTIP update

 
TIDMBSE 
 
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  UK Media Relations 
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 
 
 
 
 
END

(END) Dow Jones Newswires

April 01, 2022 03:12 ET (07:12 GMT)

Base Resources (LSE:BSE)
Historical Stock Chart
From Jun 2024 to Jul 2024