Base Resources Limited Exercise of LTIP performance rights
2021年2月24日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
TIDMBSE
AIM and Media Release
24 February 2021
BASE RESOURCES LIMITED
Exercise of LTIP performance rights
African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base
Resources or the Company) advises that 3,742,393 vested performance rights
issued pursuant to the Base Resources Long Term Incentive Plan (LTIP) have been
exercised.
Of the vested performance rights that have been exercised, 3,616,862 were from
the 2017 LTIP cycle that vested following performance testing as at 30
September 2020. The remaining 125,531 performance rights that have been
exercised were from the 2016 LTIP cycle that vested following performance
testing as at 30 September 2019.
For each performance right that was 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 LTIP participants that exercised vested performance rights included
employees classified as "persons discharging managerial responsibilities" for
the purposes of the United Kingdom's Market Abuse Regulation (PDMRs). As a
result of their exercises, no PDMR presently holds vested performance rights.
The updated security holdings of the PDMRs in the Company are set out below.
Name Vested performance Holding of Holding of shares
rights exercised and performance rights* (direct and
shares allocated indirect)
Tim Carstens (Managing 896,820 8,410,908 8,442,833
Director)
Colin Bwye (Executive 896,820 8,410,908 8,096,058
Director)
Kevin Balloch 347,980 2,855,253 3,039,313
Andre Greyling 308,337 2,760,931 4,193,966
Stephen Hay 365,908 3,001,249 1,697,999**
Chadwick Poletti 286,313 2,576,797 1,448,859
* Performance rights are unvested and therefore remain subject to vesting
conditions.
** Mr Hay's holding reflects the sale of 180,000 ordinary shares on market
on 24 February 2021 for an average price of A$0.313 per share for the primary
purpose of funding future tax liabilities arising from his exercise of vested
performance rights.
As a result of the exercise of the vested performance rights, the Company has
the following securities on issue:
* 1,178,011,850 ordinary shares.
* 71,078,976 performance rights issued pursuant to the terms of the LTIP,
comprising:
+ 266,893 vested 2017 LTIP cycle performance rights, which remain subject
to exercise1.
+ 70,812,083 unvested performance rights subject to performance testing
in accordance with their terms of issue.
The figure of 1,178,011,850 ordinary shares on issue may be used by
shareholders as the denominator for calculations when determining if they are
required to notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency Rules.
[Note (1): Vested performance rights have a nil cash exercise price and, unless
exercised beforehand, these rights expire on 30 September 2025.]
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 1, 50 Kings Park Road
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
BROKER
Berenberg
Matthew Armitt / Detlir Elezi
Phone: +44 20 3207 7800
END
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