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BASE RESOURCES LIMITED - Change of Interests of Director

·2-min read

AIM and Media Release

11 March 2021

BASE RESOURCES LIMITED
Change of Interests of Director

African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that Executive Director – Operations & Development, Mr Colin Bwye, sold 896,820 ordinary shares in Base Resources at a weighted average price of A$0.3156 per share between 8 March 2021 and 10 March 2021 (inclusive).

The proceeds of the sale will be used by Mr Bwye to fund his future Australian income tax liability arising from the recent exercise of his 2017 cycle vested performance rights1 and for personal financial planning.

The security holdings of Mr Bwye and other employees classified as “persons discharging managerial responsibilities” for the purposes of the United Kingdom’s Market Abuse Regulation, as at the date of this announcement, are set out below.

Name

Holding of performance rights*

Holding of shares
(direct and indirect)

Tim Carstens (Managing Director)

8,410,908

8,442,833

Colin Bwye (Executive Director)

8,410,908

7,199,238

Kevin Balloch

2,855,253

3,039,313

Andre Greyling

2,760,931

4,193,966

Stephen Hay

3,001,249

1,697,999

Chadwick Poletti

2,576,797

1,448,859

* Performance rights issued under the Base Resources Long Term Incentive Plan, which remain unvested and therefore subject to vesting conditions.

[Note (1): Refer to Base Resources’ market announcement “Exercise of LTIP performance rights released on 24 February 2021, which is available at https://baseresources.com.au/investors/announcements/.]

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 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