Notice of change of Significant Shareholder

AIM and Media Release 

10 June 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 UBS Group AG that, as at 5 June 2020, it and its related bodies corporate (UBS) had voting power in 65,591,302 ordinary shares in Base Resources, representing 5.60% 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.

UBS’s interest in 65,591,302 ordinary shares was held as follows:

Holder of interest	Nature of interest	Registered holder of shares	Number of ordinary shares
UBS AG London Branch	Power to control disposal over shares pursuant to stock borrowing and lending activities	Various Custodians	40,000,000
UBS Securities Australia Ltd	Beneficial Owner	Brispot Nominees Pty Ltd	25,591,302

UBS acquired 117,808,921 shares for an average price of A$0.191 per share between 7 February 2020 and 5 June 2020 (excluding any securities borrowed pursuant to a securities lending agreement).  It disposed of 113,820,634 shares for an average price of A$0.181 per share between 6 February 2020 and 1 May 2020 (excluding any shares returned pursuant to a securities lending 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 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]