REG-Base Resources Limited: LTIP performance rights update

Base ResourcesAnnouncement

11/04/2024 07:15

 

 

 

AIM and Media Release 

11 April 2024

 

Base Resources Limited 
LTIP performance rights update


Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company)
advises that 432,112 vested performance rights granted under the Base
Resources Long Term Incentive Plan (LTIP) have been exercised.

 

For each performance right exercised, LTIP participants were allocated one
fully paid ordinary share in Base Resources previously acquired on-market by
the LTIP trustee.  In accordance with the terms of the LTIP, the exercise
price was nil and the shares were allocated for nil cash consideration.  The
performance rights exercised were from the 2020 LTIP cycle, which vested
following performance testing as at 30 September 2023.

 

The exercises of vested performance rights occurred during the period
beginning (and including) 27 February 2024 and ending on (and including) 20
March 2024.  

 

As a result of the above events, the Company has the following securities on
issue:
* 1,178,011,850 ordinary shares.
* 72,041,626 performance rights issued pursuant to the terms of the LTIP,
comprising: 
* 8,295,847 vested performance rights, which remain subject to exercise1; and
* 63,745,779 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:

 Australian Media Relations        UK Media Relations             
 Citadel Magnus                    Tavistock Communications       
 Cameron Gilenko and Michael Weir  Jos Simson and Gareth Tredway  
 Tel: +61 8 6160 4900              Tel: +44 207 920 3150          

 

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 ADVISER & JOINT BROKER
Canaccord Genuity Limited
James Asensio / Raj Khatri / George Grainger
Phone: +44 20 7523 8000

 

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



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