Notice of change of Substantial Shareholder

AIM and Media Release 

13 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 FIL Limited that it and its related entities (FIL) have increased their voting power in Base Resources to 117,160,977 ordinary shares, representing 10% of the total Base Resources ordinary shares on issue and constituting a substantial shareholding for the purposes of the AIM Rules for Companies.

FIL’s interest in 117,160,977 ordinary shares is held as follows: 

Investment Manager	Custodian	Nature of relevant interest	Number of ordinary shares
FIL Investments International	Brown Bros Harrimn Ltd Lux (C) Brown Brothers Harriman and Co JP Morgan, Bournemouth (C)	Investment Discretion / Voting Power	32,702,957 3,957,867 69,881,600
FIL Limited	Brown Bros Harrimn Ltd Lux (C) Brown Brothers Harriman and Co	Investment Discretion / Voting Power	7,430,452 3,188,101

The increase in FIL’s interest was the result of the acquisition of 17,575,290 shares for an average price of A$0.241 per share between 26 November 2019 and 10 February 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]