REG-Base Resources Limited: Update on Scheme - Independent Expert's Confirmation

Base ResourcesAnnouncement

27/08/2024 08:00

 

 

 

AIM and Media Release 

27 August 2024

 

Base Resources Limited 
Update on Scheme – Independent Expert’s Confirmation

 

Base Resources Limited (ASX & AIM: BSE) (Base Resources) provides the
following update in relation to its proposed combination with Energy Fuels
Inc. to create a global critical minerals company with a focus on rare earth
elements, heavy mineral sands and uranium production, to be effected by way of
scheme of arrangement (Scheme).

 

On 26 August 2024, Base Resources released its audited financial statements
for the financial year ended 30 June 2024 (FY24 Financial Statements). 

 

As contemplated in section 5.14 of the Scheme Booklet released on 2 August
2024, the company sought and obtained written confirmation from the
Independent Expert, PricewaterhouseCoopers Securities Ltd, that the FY24
Financial Statements do not change the Independent Expert’s opinion that the
Scheme is fair and reasonable and, therefore, is in the best interests of Base
Resources shareholders, in the absence of a superior proposal.

 

The Independent Expert’s conclusions should be read in context with the
Scheme Booklet and the full Independent Expert’s Report.  Base Resources
shareholders are also encouraged to read the FY24 Financial Statements before
deciding how to vote on the Scheme.

 

Recommendation of Base Resources Directors

 

The Base Resources Directors continue to unanimously recommend that Base
Resources shareholders vote in favour of the Scheme, in the absence of a
superior proposal and subject to the Independent Expert continuing to conclude
that the Scheme is in the best interests of Base Resources shareholders. 
Subject to those same qualifications, each Base Resources Director intends to
vote all their Base Resources shares in favour of the Scheme at the Scheme
meeting.

 

Scheme meeting

 

The Scheme meeting will be held at 11.00am (Perth time) on 5 September 2024 at
the Gallery Suite at the InterContinental Perth City Centre, Level 1, 815 Hay
Street, Perth, Western Australia and virtually via the Lumi platform,
accessible using the URL https://web.lumiconnect.com/388093896.

 

Base Resources shareholders registered on the Base Resources share register at
5.00pm (Perth time) on 3 September 2024 will be entitled to vote on the
Scheme.  In the case of Base Resources depositary interest holders, those
holders registered on the Base Resources depositary interest register at
6.00pm (London time) on 29 August 2024 will also be entitled to vote on the
Scheme.

 

All Base Resources shareholders and depositary interest holders are encouraged
to vote.  The deadline for receipt of proxy forms from Base Resources
shareholders by Base Resources’ share registry for the Scheme meeting is
11.00 am (Perth time) on 3 September 2024.  The deadline for providing voting
instructions by Base Resources depositary interest holders to the depositary
is 6.00pm (London time) on 30 August 2024.  

 

Scheme information line

 

If Base Resources shareholders or depositary interest holders have any
questions in relation to the Scheme or the Scheme Booklet, please contact the
Base Resources Scheme information line on 1300 271 804 (within Australia) and
+61 3 9938 4380 (outside Australia) between 8.30am and 5.00pm (Melbourne
time), Monday to Friday, excluding public holidays.

 

ENDS.

 

For further information contact:

 Australian Media Relations        UK Media Relations             
 Sodali & Co                       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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