Notice of change of Significant Shareholder

AIM and Media Release 

9 October 2020

BASE RESOURCES LIMITED
Notice of change of Significant Shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) advises that it has today received notification from Credit Suisse Holdings (Australia) Limited on behalf of Credit Suisse Group AG and its affiliates (Credit Suisse) that, on 6 October 2020, Credit Suisse had reduced their voting power in Base Resources by 8,936,906 ordinary shares. 

Base Resources understands that, as at 6 October 2020, Credit Suisse had a relevant interest in 50,055,650 ordinary shares, representing 4.25% 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 Credit Suisse’s relevant interest was the net result of the disposal and acquisition of Base Resources ordinary shares, and the return of ordinary shares under prime brokerage agreements, since 29 September 2020.

Credit Suisse disposed of 45,659 ordinary shares for an average price of A$0.248 per share between 29 September 2020 and 6 October 2020 (excluding any shares returned pursuant to a prime brokerage agreement).  During the same period, it acquired 159,750 ordinary shares for average price of A$0.249 per share.

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]

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