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BASE RESOURCES LIMITED - Results of 2021 Annual General Meeting

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AIM and Media Release

26 November 2021

BASE RESOURCES LIMITED
Results of 2021 Annual General Meeting

African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that all resolutions set out in the Notice of Annual General Meeting released to ASX on 27 October 2021 and put to Base Resources shareholders at today’s meeting were carried.

All resolutions were decided by poll. Further details, including the number of votes cast on the poll for each resolution and the percentage of votes cast ‘For’ and ‘Against’, are at the end of this announcement.

As previously announced, Independent Non-Executive Chair, Mr Keith Spence, retired from the Board following the Annual General Meeting, with Independent Non-Executive Director, Mr Michael Stirzaker, taking over as Chair. Mr Spence currently holds 666,667 fully paid ordinary shares in Base Resources.

Following his election by members at the meeting, Mr Scot Richard Sobey (46 years old) joins the Board as a Non-Executive Director and the representative of major shareholder, Pacific Road.

Following these changes and Ms Diane Radley’s re-election at today’s meeting, the Board of Base Resources comprises:

Mr Michael Stirzaker

Independent Non-Executive Chair

Mr Tim Carstens

Managing Director

Mr Colin Bwye

Executive Director – Operations and Development

Mr Malcolm Macpherson

Independent Non-Executive Director

Ms Diane Radley

Independent Non-Executive Director

Ms Janine Herzig

Independent Non-Executive Director

Mr Scot Sobey

Non-Executive Director

For the purposes of complying with the AIM Rules for Companies in relation to Mr Sobey’s election, Base Resources advises that Mr Sobey has held the following positions where he was acting in the capacity of a director or partner in the past five years:

  • Current directorships or partnerships - Pelkbuck (Pty) Ltd.

  • Previous directorships or partnerships - Eferton Services (Pty) Ltd

Mr Sobey holds no relevant interest in the Company's ordinary share capital. There is no other information in relation to Mr Sobey that requires disclosure pursuant to the AIM Rules for Companies.

Resolution details

Instructions given to validly appointed proxies
(as at proxy close)

Number of votes cast on the poll
(where applicable)

Resolution Result

Resolution

Resolution Type

For

Against

Proxy's
Discretion

Abstain

For

Against

Abstain*

Carried /
Not Carried

1 Adoption of the Remuneration Report

Ordinary

755,789,290

344,907

358,197

1,545,529

759,615,231

344,907

1,545,529

Carried

99.90%

0.05%

0.05%

99.95%

0.05%

2 Re-election of Ms Diane Radley as a Director

Ordinary

770,067,141

2,092,105

358,197

7,000

774,734,484

2,092,105

7,000

Carried

99.68%

0.27%

0.05%

99.73%

0.27%

3 Election of Mr Scot Sobey as a Director

Ordinary

761,970,235

10,186,921

358,197

9,090

766,637,578

10,186,921

9,090

Carried

98.63%

1.32%

0.05%

98.69%

1.31%

4 Approval of the grant of Performance Rights to Mr Tim Carstens

Ordinary

757,019,864

506,185

4,552,163

3,246,993

765,838,897

506,185

3,246,993

Carried

99.33%

0.07%

0.60%

99.93%

0.07%

5 Approval of revised Base Resources Long Term Incentive Plan

Ordinary

744,854,578

614,078

2,703,523

15,092,286

751,692,512

614,078

15,092,286

Carried

99.56%

0.08%

0.36%

99.92%

0.08%

6 Approval of proposed amendments to Constitution

Special

638,687,523

133,165,244

358,197

313,479

643,340,809

133,165,244

327,536

Carried

82.71%

17.24%

0.05%

82.85%

17.15%

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 (0)8 9413 7400
Fax: +61 (0)8 9322 8912

NOMINATED ADVISOR
RFC Ambrian Limited

Stephen Allen
Phone: +61 (0)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

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