AIM and Media Release
11 January 2023
BASE RESOURCES
LIMITED
LTIP performance rights update
African mineral sands producer, Base Resources Limited
(ASX & AIM: BSE) (Base Resources or the Company)
advises that 1,286,461 vested performance rights issued under the
Base Resources Long Term Incentive Plan (LTIP) have been
exercised.
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
performance rights exercised were from the 2019 LTIP cycle that
vested following performance testing as at 30 September
2022.
Since the Company’s last LTIP performance rights update on
14 December 2022, 2,679,793 unvested
performance rights were also forfeited after one or more LTIP
participants ceased to be employed other than for a “Qualifying
Reason” (as that term is defined in the LTIP).
As a result of the above events, the Company has the following
securities on issue:
- 1,178,011,850 ordinary shares.
- 58,020,619 performance rights issued pursuant to the terms of
the LTIP, comprising:
- 4,630,289 vested performance rights, which remain subject to
exercise1; and
- 53,390,330 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:
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 (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 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
JOINT BROKER
Berenberg
Matthew Armitt / Detlir Elezi
Phone: +44 20 3207 7800
JOINT BROKER
Canaccord Genuity
Raj Khatri / James Asensio /
Patrick Dolaghan
Phone: +44 20 7523 8000