Notice of change of Significant Shareholder

AIM and Media Release 

6 July 2022

BASE RESOURCES LIMITED
Notice of change of Significant Shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that it has today received notification from Bank of America and its related bodies corporate (Bank of America) that, on 4 July 2022, Bank of America had reduced its voting power in Base Resources by 7,649,915 ordinary shares. 

Base Resources understands that, as at 4 July 2022, Bank of America had a relevant interest in 55,769,353 ordinary shares, representing 4.73% 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.

The decrease in Bank of America’s relevant interest was the net result of the disposal and acquisition of ordinary shares, and return and borrowing of ordinary shares pursuant to prime brokerage agreements, in each case, on and from 18 May 2022.

Bank of America disposed of a total of 6,566,928 shares for an average price of A$0.2674 per share between 1 June 2022 and 4 July 2022 (excluding any shares returned pursuant to a prime brokerage agreement).  It acquired 771,820 shares for an average price of A$0.2906 per share between 18 May 2022 and 30 June 2022 (excluding any shares borrowed pursuant to a prime brokerage 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 Gareth Tredway
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 3, 46 Colin Street
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
Canaccord Genuity
Raj Khatri / James Asensio / Patrick Dolaghan
Phone: [phone]