Notice of change of Substantial Shareholder

AIM and Media Release 

7 February 2020

BASE RESOURCES LIMITED
Notice of change of Substantial Shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that it has today received notification from substantial shareholder Sustainable Capital Ltd (Sustainable) that it has increased its relevant interest in Base Resources to 260,732,274 ordinary shares, representing 22.25% of the total Base Resources ordinary shares on issue.

Consideration given to acquire the increased relevant interest referred to above between 25 June 2019 and 7 February 2020 was a weighted average of A$0.247 per share for 38,544,567 shares.  

Sustainable’s interest in 260,732,274 Base Resources ordinary shares is held as follows:

Holder of relevant interest	Registered holder of shares	Number of ordinary shares
Sustainable Capital Ltd	HSBC Fund Services	260,732,274

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
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NOMINATED ADVISOR
RFC Ambrian Limited
Stephen Allen
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JOINT BROKER
Berenberg
Matthew Armitt / Detlir Elezi
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JOINT BROKER
Numis Securities Limited
John Prior / James Black / Paul Gillam
Phone: [phone]