BASE RESOURCES LIMITED - Issue of LTIP performance rights

BASE RESOURCES LIMITED - Issue of LTIP performance rights

PR Newswire

London, December 4

AIM and Media Release

4 December 2018

BASE RESOURCES LIMITED
Issue of LTIP performance rights

Base Resources Limited (ASX & AIM: BSE) ("Base Resources") advises that on 4 December 2018 the company issued 23,052,832 performance rights to senior management pursuant to the terms of the Base Resources Long Term Incentive Plan ("LTIP").

The performance rights are held by (among other senior management) Base Resources' executive Directors Tim Carstens and Colin Bwye who were each issued 2,806,452 performance rights. The shareholdings of Mr Carstens and Mr Bwye remain unchanged. Following the above transactions, Mr Carstens and Mr Bwye hold the following securities in Base Resources:

• Mr Carstens holds 9,620,446 fully paid ordinary shares and 6,645,075 performance rights (vesting of which is subject to satisfaction of applicable performance criteria and the terms of the LTIP). These securities are held by Mr Carstens directly and indirectly through Varadero Pty Ltd as trustee for the Sumo Superannuation Fund of which Mr Carstens is the sole beneficiary and CPU Share Plans Pty Ltd as trustee for the LTIP on behalf of Mr Carstens.
• Mr Bwye holds 10,123,671 fully paid ordinary shares and 6,645,075 performance rights (vesting of which is subject to satisfaction of applicable performance criteria and the terms of the LTIP). These securities are held indirectly through Mrs Annette Bwye who is the spouse of Mr Bwye, by Mr Colin Bwye and Mrs Annette Bwye as trustees for the Bwye Superannuation Fund of which Mr Bwye is a beneficiary and CPU Share Plans Pty Ltd as trustee for the LTIP on behalf of Mr Bwye.

As at today's date, Base Resources has the following shares, options and performance rights on issue:

• 1,166,623,040 fully paid ordinary shares.
• 61,425,061 options (exercise price of A$0.40, expiring 31 December 2018).
• 48,586,062 performance rights issued pursuant to the terms of the LTIP.

For further information with respect to performance rights issued in accordance with the LTIP refer to the company's notice of 2018 annual general meeting and explanatory memorandum that was announced on 22 October 2018 and is available from the company's website: www.baseresources.com.au.

ENDS.

For further information contact:

James Fuller, Manager - Communications and Investor Relations	UK Media Relations
Base Resources	Tavistock Communications
Tel: [phone]	Jos Simson and Barnaby Hayward
Mobile: [phone]	Tel: [phone]
Email: [e-mail]

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
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NOMINATED ADVISOR
RFC Ambrian Limited
Andrew Thomson / Stephen Allen
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