Notice of change of Significant Shareholder

AIM and Media Release 

4 March 2020

BASE RESOURCES LIMITED
Notice of change of Significant Shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that it has today received notification from Bank of America Corporation that, on 2 March 2020, it and its related bodies corporate (Bank of America) had reduced their voting power in Base Resources by 37,991,120 ordinary shares. 

Base Resources understands that, as at 2 March 2020, Bank of America had a relevant interest in 52,797,982 ordinary shares, representing 4.51% of the total Base Resources ordinary shares on issue and constituting a significant shareholding for the purposes of the AIM Rules for Companies on that date.

The decrease in Bank of America’s relevant interest was the result of the disposal of ordinary shares and the return of ordinary shares pursuant to prime brokerage agreements since 29 February 2020.

Bank of America disposed of 30,000,000 shares for an average price of A$0.195 per share on 2 March 2020 (excluding any shares returned pursuant to a prime brokerage agreement).  It did not acquire any ordinary shares between 29 February 2020 and 2 March 2020.

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 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
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
Numis Securities Limited
John Prior / James Black / Paul Gillam
Phone: [phone]