Notice of change of Significant Shareholder

AIM and Media Release 

19 February 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 17 February 2020, it and its related bodies corporate (Bank of America) reduced their voting power in Base Resources by 21,995,375 ordinary shares. 

Accordingly, Base Resources understands that, as at 17 February 2020, Bank of America had a relevant interest in 55,780,140 ordinary shares, representing 4.76% 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 net result of the return of ordinary shares pursuant to a prime brokerage agreement and the acquisition of ordinary shares, in each case, since 13 February 2020.

Bank of America acquired a total of 4,625 shares for an average price of A$0.250 per share on 13 February 2020 and 17 February 2020.  Other than by way of the return of shares pursuant to a prime brokerage agreement, Bank of America did not otherwise dispose of any shares during the period covered by the notification.  

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]