REG-Base Resources Limited: LTIP performance rights update

Base ResourcesAnnouncement

28/06/2024 08:00

 

 

 

AIM and Media Release 

28 June 2024

 

Base Resources Limited 
LTIP performance rights update

Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company)
advises that 1,695,966 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 of no par value in Base Resources (ordinary share)1
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) 1 May 2024 and ending on (and including) 25 June
2024.

 

[Note (1): The identification code for ordinary shares is AU000000BSE5.]

 

A member of the Company’s senior management classified as a person
discharging managerial responsibilities was among the employees exercising
vested performance rights, with such exercise occurring on 25 June 2024. 
Certain persons discharging managerial responsibilities have also undertaken
off-market transfers to alter the holding arrangements for their Base
Resources ordinary shares.  Relevant details are set out in the table below.

 

 Name            Vested performance rights exercised  Current holding of performance rights  Holding of ordinary shares  Holding arrangements                                                                                                                                            
 Andre Greyling  540,101                              3,612,784 2                            4,669,127                   Direct - 3,775,026 held by Mr Greyling jointly with his spouse Indirect - 894,101 held by Wildstate Enterprises Pty Ltd, a company controlled by Mr Greyling 4  
 Stephen Hay     N/A                                  4,178,093 3                            2,527,761                   Direct - Nil Indirect - 2,527,761 held by Mr Hay’s spouse 5                                                                                                     

  [Notes:

(2)      Performance rights solely comprise unvested performance rights.

(3)      Performance rights include 580,471 vested performance rights.

(4)      On 27 June 2024 and for a price of A$0.267 per share, 540,101
shares moved from a registered holding in Mr Greyling’s own name to
Wildstate Enterprises Pty Ltd and 1,126,386 shares moved from Wildstate
Enterprises Pty Ltd to a registered holding jointly in the names of Mr
Greyling and his spouse.

(5)      On 25 June 2024 and for a price of A$0.260 per share, 2,527,761
shares moved from a registered holding in Mr Hay’s own name to a holding in
the name of Mr Hay’s spouse.]

 

As a result of the above events, the Company has the following securities on
issue:
* 1,178,011,850 ordinary shares.
* 70,345,660 performance rights issued pursuant to the terms of the LTIP,
comprising: 
* 6,599,881 vested performance rights, which remain subject to exercise6; and
* 63,745,779 unvested performance rights subject to performance testing in
accordance with their terms of issue.
[Note (6): 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 AND REGISTERED OFFICE AND LEI
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

LEI: 2617005DDMEAZ8OBD979

 

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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