11th Apr 2024 07:00
Base Resources Limited - LTIP performance rights updateBase Resources Limited - LTIP performance rights update
PR Newswire
LONDON, United Kingdom, April 11
AIM and Media Release
11 April 2024
Base Resources Limited LTIP performance rights update
Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) advises that 432,112 vested performance rights granted under the Base Resources Long Term Incentive Plan (LTIP) have been exercised.
For each performance right 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 2020 LTIP cycle, which vested following performance testing as at 30 September 2023.
The exercises of vested performance rights occurred during the period beginning (and including) 27 February 2024 and ending on (and including) 20 March 2024.
As a result of the above events, the Company has the following securities on issue:
1,178,011,850 ordinary shares.72,041,626 performance rights issued pursuant to the terms of the LTIP, comprising: 8,295,847 vested performance rights, which remain subject to exercise1; and63,745,779 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:
Australian Media Relations | UK Media Relations |
Citadel Magnus | Tavistock Communications |
Cameron Gilenko and Michael Weir | Jos Simson and Gareth Tredway |
Tel: +61 8 6160 4900 | Tel: +44 207 920 3150 |
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 OFFICELevel 3, 46 Colin StreetWest Perth, Western Australia, 6005Email: [email protected]Phone: +61 8 9413 7400Fax: +61 8 9322 8912
NOMINATED ADVISER & JOINT BROKERCanaccord Genuity LimitedJames Asensio / Raj Khatri / George GraingerPhone: +44 20 7523 8000
JOINT BROKERBerenbergMatthew Armitt / Detlir EleziPhone: +44 20 3207 7800
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