Notice of change of interests by Substantial Shareholder

AIM and Media Release 

15 May 2024

Base Resources Limited
Notice of change of interests by Substantial Shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that it has received notification from Sustainable Capital Limited (Sustainable Capital) that it reduced its voting power in Base Resources from 290,537,049 ordinary shares to 277,931,128 ordinary shares representing 23.59% of the total Base Resources ordinary shares in issue.  This constitutes a substantial shareholding for the purposes of the AIM Rules for Companies.

Sustainable Capital's interest in 277,931,128 ordinary shares is held as follows:

Holder of interest	Registered holder of shares	Person entitled to be registered as holder	Number of ordinary shares
Sustainable Capital Limited	HSBC-FUND SERVICES CLIENT A/C 006	HSBC BANK AUSTRALIA LIMITED	277,931,128

The decrease in Sustainable Capital's holding for the purposes of the AIM Rules for Companies was the net result of the disposal and acquisition of ordinary shares during the period from 13 June 2023 to 15 May 2024. 

During this period, Sustainable Capital sold 14,103,738 shares for an average price of A$0.253 per share and acquired 1,497,817 shares for an average price of A$0.175.

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:

Australian Media Relations	UK Media Relations
Morrow Sodali	Tavistock Communications
Cameron Gilenko and Michael Weir	Jos Simson and Gareth Tredway
Tel: [phone]	Tel: [phone]

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 ADVISER & JOINT BROKER
Canaccord Genuity Limited
James Asensio / Raj Khatri / George Grainger
Phone: [phone]

JOINT BROKER
Berenberg
Matthew Armitt / Detlir Elezi
Phone: [phone]

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