REG-Base Resources Limited: 2022 LTIP cycle performance rights

Base ResourcesAnnouncement

30/11/2022 13:30

AIM and Media Release 

30 November 2022

BASE RESOURCES LIMITED
2022 LTIP cycle performance rights

African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base
Resources or the Company) advises that, following shareholder approval at the
Company’s 2022 Annual General Meeting held on 25 November 2022, Managing
Director, Tim Carstens has been granted 2,702,895 performance rights under
the Base Resources Long Term Incentive Plan (LTIP).

The performance rights granted are for the current 2022 LTIP cycle, with the
three-year performance period for those rights having commenced on 1 October
2022.  The performance rights form the equity component of Mr Carstens’
at-risk remuneration for the financial year ending 30 June 2023.  For further
details about the performance rights, including the gates and performance
criteria that determine the extent of any vesting, refer to the Company’s
2022 Notice of Annual General Meeting, available from the Company’s
website:  https://baseresources.com.au/.

Mr Carstens’ securityholding in the Company is now as follows:
* 2,864,477 vested performance rights, which remain subject to exercise(1);
* 8,041,663 unvested performance rights, which include the 2022 LTIP cycle
performance rights; and
* 10,136,997 fully paid ordinary shares, held directly and indirectly.
As a result of the grant of performance rights to Mr Carstens, Base Resources
has the following securities on issue:
* 1,178,011,850 fully paid ordinary shares;
* 72,612,435 performance rights issued under the LTIP, comprising: *
16,542,312 vested performance rights, which remain subject to exercise(1); and
* 56,070,123 unvested performance rights.
[Note (1): Vested performance rights have a nil cash exercise price.  Unless
exercised beforehand, performance rights 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: +61 488 093 763                                      Tel: +44 207 920 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 8 9413 7400
Fax: +61 8 9322 8912

NOMINATED ADVISOR
RFC Ambrian Limited
Stephen Allen
Phone: +61 8 9480 2500

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Phone: +44 20 3207 7800

JOINT BROKER
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Raj Khatri / James Asensio / Patrick Dolaghan
Phone: +44 20 7523 8000
 



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