Initial notice of Significant Shareholder

AIM and Media Release 

19 May 2022

BASE RESOURCES LIMITED
Initial notice of Significant Shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that it has today received notification from Bank of America Corporation and its related bodies corporate (Bank of America) that, as at 17 May 2022, Bank of America had increased their voting power in Base Resources to 63,419,268 ordinary shares, representing 5.38% of the total Base Resources ordinary shares on issue and constituting a significant shareholding for the purposes of the AIM Rules for Companies.

Bank of America’s interest in 63,419,268 ordinary shares is held as follows:

Holder of interest	Nature of interest	Registered holder of shares	Number of ordinary shares
Merrill Lynch (Australia) Futures Limited	Power to control voting and/or disposal of securities in its capacity as ultimate beneficial owner having a principal position.	Merrill Lynch (Australia) Nominees Pty Ltd	19,418,918
Merrill Lynch Markets (Australia) Pty. Limited	Borrowing of securities pursuant to a Prime Brokerage Agreement, with power to control the voting and/or disposal of borrowed securities.	Merrill Lynch (Australia) Nominees Pty Ltd	44,000,350

The increase in Bank of America’s holding for the purposes of the AIM Rules for Companies was the net result of the acquisition and disposal of ordinary shares, in each case, on and from 18 January 2022.  We understand that Bank of America:

• acquired 12,317,889 shares for an average price of A$0.316 per share between 18 January 2022 and 17 May 2022 (excluding any shares borrowed pursuant to a prime brokerage agreement); and
• disposed of 13,922,629 shares for an average price of A$0.317 per share between 25 January 2022 and 17 May 2022 (excluding any shares returned pursuant to a prime brokerage agreement).  

A copy of the notice referred to in this release 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 Gareth Tredway
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 3, 46 Colin Street
West Perth, Western Australia, 6005
Email:  [e-mail]
Phone: [phone]
Fax: [phone]

NOMINATED ADVISOR
RFC Ambrian Limited
Stephen Allen
Phone: [phone]
 

JOINT BROKER

Berenberg
Matthew Armitt / Detlir Elezi
Phone: [phone]
 

JOINT BROKER
Canaccord Genuity
Raj Khatri / James Asensio / Patrick Dolaghan
Phone: [phone]