Issue of LTIP performance rights

AIM and Media Release 

12 December 2016

BASE RESOURCES LIMITED
Issue of LTIP performance rights

Base Resources Limited (ASX & AIM: BSE) ("Base Resources") advises that on 9 December 2016 the company issued 11,410,433 performance rights to senior management pursuant to the terms of the Base Resources Long Term Incentive Plan (“LTIP”).  Base Resources also confirms that 7,264,112 performance rights have lapsed in accordance with the LTIP as at the end of the three-year performance period ended 30 September 2016. 

The performance rights are held by (among other senior management) Base Resources’ executive Directors Tim Carstens and Colin Bwye who were each issued 1,725,567 performance rights.  The shareholdings of Mr Carstens and Mr Bwye remain unchanged.  Following the above transactions, Mr Carstens and Mr Bwye hold the following securities in Base Resources:

• Mr Carstens holds 1,228,522 fully paid ordinary shares and 10,489,767 performance rights (vesting of which is subject to satisfaction of applicable performance criteria and the terms of the LTIP).  These securities are held by Mr Carstens directly and indirectly through Varadero Pty Ltd as trustee for the Sumo Superannuation Fund of which Mr Carstens is the sole beneficiary. 
• Mr Bwye holds 1,838,739 fully paid ordinary shares and 10,489,767 performance rights (vesting of which is subject to satisfaction of applicable performance criteria and the terms of the LTIP).  These securities are held by Mr Bwye directly and indirectly through Mrs Annette Bwye who is the spouse of Mr Bwye and by Mr Colin Bwye and Mrs Annette Bwye as trustees for the Bwye Superannuation Fund. 

As at today’s date, Base Resources has the following shares, options and performance rights on issue:

• 742,231,956 fully paid ordinary shares.
• 61,425,061 options (exercise price of A$0.40, expiring 31 December 2018).
• 67,085,620 performance rights issued pursuant to the terms of the LTIP.

For further information with respect to performance rights issued in accordance with the LTIP refer to the company’s 2016 annual report and the notice of 2016 annual general meeting and explanatory memorandum that is available from 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
Annette Ellis / Andrew Rowell
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UK MEDIA RELATIONS
Tavistock Communications
Jos Simson / Emily Fenton
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KENYA MEDIA RELATIONS
Africapractice (East Africa)
Evelyn Njoroge / James Njuguna/Joan Kimani
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PRINCIPAL & REGISTERED OFFICE
Level 1, 50 Kings Park Road
West Perth, Western Australia, 6005
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Fax: [phone]