Successful Completion of Retail Entitlement Offer

BASE RESOURCES LIMITED - Successful Completion of Retail Entitlement Offer

PR Newswire

London, March 31

AIM and Media Release 

31 March 2016

BASE RESOURCES LIMITEDSuccessful Completion of Retail Entitlement Offer 

Base Resources Limited (ASX & AIM: BSE) ("Base Resources") is pleased to announce the successful completion of the retail component (“Retail Entitlement Offer”) of the 1 for 3.35 renounceable pro rata entitlement offer to raise gross proceeds totalling approximately A$10 million at A$0.06 per share (“Offer Price”) as announced on 29 February 2016. 

The Retail Entitlement Offer closed on 24 March 2016, with eligible retail shareholders subscribing for approximately 13.5 million new Base Resources ordinary shares (“New Shares”), raising gross proceeds of approximately A$0.8 million. The retail shortfall bookbuild was completed on Wednesday, 30 March 2016 (“Retail Bookbuild”) and was fully subscribed, with subscriptions received for approximately 17.2 million New Shares raising gross proceeds of approximately A$1.0 million. The Retail Bookbuild was well supported by both existing and new institutional shareholders, with all retail shortfall shares being subscribed for at the Offer Price.

Settlement of the Retail Entitlement Offer is scheduled for Wednesday, 6 April 2016, with the New Shares expected to commence trading on Friday, 8 April 2016. On issue, the New Shares will rank equally in all regards with existing Base Resources ordinary shares. 

Base Resources’ Managing Director, Tim Carstens, said: “We are pleased with the support demonstrated by our existing retail shareholders through participation in the retail entitlement offer, as well as the support from those new and existing institutional shareholders that participated in the retail bookbuild. With the strong support previously received in the institutional entitlement offer, the A$10 million capital raising has been a notable success.”

A PDF version of this release is available from www.asx.com.au and on the company’s website: www.baseresources.com.au.

ENDS.

CORPORATE PROFILEDirectorsKeith Spence (Non-Executive Chairman)Tim Carstens (Managing Director)Colin Bwye (Executive Director)Sam Willis (Non-Executive Director)Michael Anderson (Non-Executive Director)Michael Stirzaker (Non-Executive Director)Malcolm Macpherson (Non-Executive Director)Company SecretaryChadwick PolettiNOMINATED ADVISOR & BROKERRFC Ambrian LimitedAs Nominated Adviser:Andrew Thomson / Stephen AllenPhone: +61 (0)8 9480 2500As Broker:Jonathan WilliamsPhone: +44 20 3440 6800SHARE REGISTRY: ASXComputershare Investor Services Pty LimitedLevel 11, 172 St Georges TerracePERTH WA 6000Enquiries: 1300 850 505 / +61 (3) 9415 4000www.computershare.com.auSHARE REGISTRY: AIMComputershare Investor Services PLCThe PavilionsBridgwater RoadBRISTOL BS99 6ZZEnquiries: +44 (0) 870 702 0003www.computershare.co.ukAUSTRALIAN MEDIA RELATIONSCannings PurpleWarrick Hazeldine / Annette EllisEmail: [email protected] /[email protected]Phone: +61 (0)8 6314 6300UK MEDIA RELATIONSTavistock CommunicationsJos Simson / Emily FentonPhone: +44 (0) 207 920 3150KENYA MEDIA RELATIONSAfricapractice (East Africa)Evelyn Njoroge / James Njuguna/Joan KimaniPhone: +254 (0)20 239 6899Email: [email protected]PRINCIPAL & REGISTERED OFFICELevel 1, 50 Kings Park RoadWest Perth, Western Australia, 6005Email: [email protected]Phone: +61 (0)8 9413 7400Fax: +61 (0)8 9322 8912