Successful Completion of Retail Entitlement Offer

AIM and Media Release 

31 March 2016

BASE RESOURCES LIMITED
Successful Completion of Retail Entitlement Offer 

Base Resources Limited (ASX & AIM: BSE) ("Base Resources") is pleased to announce the successful completion of the retail component (“Retail Entitlement Offer”) of the 1 for 3.35 renounceable pro rata entitlement offer to raise gross proceeds totalling approximately A$10 million at A$0.06 per share (“Offer Price”) as announced on 29 February 2016. 

The Retail Entitlement Offer closed on 24 March 2016, with eligible retail shareholders subscribing for approximately 13.5 million new Base Resources ordinary shares (“New Shares”), raising gross proceeds of approximately A$0.8 million.  The retail shortfall bookbuild was completed on Wednesday, 30 March 2016 (“Retail Bookbuild”) and was fully subscribed, with subscriptions received for approximately 17.2 million New Shares raising gross proceeds of approximately A$1.0 million.  The Retail Bookbuild was well supported by both existing and new institutional shareholders, with all retail shortfall shares being subscribed for at the Offer Price.

Settlement of the Retail Entitlement Offer is scheduled for Wednesday, 6 April 2016, with the New Shares expected to commence trading on Friday, 8 April 2016.  On issue, the New Shares will rank equally in all regards with existing Base Resources ordinary shares. 

Base Resources’ Managing Director, Tim Carstens, said: “We are pleased with the support demonstrated by our existing retail shareholders through participation in the retail entitlement offer, as well as the support from those new and existing institutional shareholders that participated in the retail bookbuild.  With the strong support previously received in the institutional entitlement offer, the A$10 million capital raising has been a notable success.”

A PDF version of this release is available from www.asx.com.au and on the company’s website:  www.baseresources.com.au.

ENDS.

CORPORATE PROFILE

Directors
Keith Spence (Non-Executive Chairman)
Tim Carstens (Managing Director)
Colin Bwye (Executive Director)
Sam Willis (Non-Executive Director)
Michael Anderson (Non-Executive Director)
Michael Stirzaker (Non-Executive Director)
Malcolm Macpherson (Non-Executive Director)

Company Secretary
Chadwick Poletti

NOMINATED ADVISOR & BROKER
RFC Ambrian Limited
As Nominated Adviser:
Andrew Thomson / Stephen Allen
Phone: [phone]
As Broker:
Jonathan Williams
Phone: [phone]

SHARE REGISTRY:  ASX
Computershare Investor Services Pty Limited
Level 11, 172 St Georges Terrace
PERTH WA 6000
Enquiries: 1300 850 505 / [phone]
www.computershare.com.au

SHARE REGISTRY:  AIM
Computershare Investor Services PLC
The Pavilions
Bridgwater Road
BRISTOL BS99 6ZZ
Enquiries: [phone]
www.computershare.co.uk

AUSTRALIAN MEDIA RELATIONS
Cannings Purple
Warrick Hazeldine / Annette Ellis
Email:[e-mail] /
[e-mail]
Phone: [phone]

UK MEDIA RELATIONS
Tavistock Communications
Jos Simson / Emily Fenton
Phone: [phone]

KENYA MEDIA RELATIONS
Africapractice (East Africa)
Evelyn Njoroge / James Njuguna/Joan Kimani
Phone: [phone]
Email:[e-mail]

PRINCIPAL & REGISTERED OFFICE
Level 1, 50 Kings Park Road
West Perth, Western Australia, 6005
Email:  [e-mail]
Phone: [phone]
Fax: [phone]