Base Resources Limited 2022 LTIP cycle performance rights

 
TIDMBSE 
 
AIM and Media Release 
 
30 November 2022 
 
BASE RESOURCES LIMITED 
2022 LTIP cycle performance rights 
 
African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base 
Resources or the Company) advises that, following shareholder approval at the 
Company's 2022 Annual General Meeting held on 25 November 2022, Managing 
Director, Tim Carstens has been granted 2,702,895 performance rights under the 
Base Resources Long Term Incentive Plan (LTIP). 
 
The performance rights granted are for the current 2022 LTIP cycle, with the 
three-year performance period for those rights having commenced on 1 October 
2022.  The performance rights form the equity component of Mr Carstens' at-risk 
remuneration for the financial year ending 30 June 2023.  For further details 
about the performance rights, including the gates and performance criteria that 
determine the extent of any vesting, refer to the Company's 2022 Notice of 
Annual General Meeting, available from the Company's website:  https:// 
baseresources.com.au/. 
 
Mr Carstens' securityholding in the Company is now as follows: 
 
  * 2,864,477 vested performance rights, which remain subject to exercise1; 
  * 8,041,663 unvested performance rights, which include the 2022 LTIP cycle 
    performance rights; and 
  * 10,136,997 fully paid ordinary shares, held directly and indirectly. 
 
As a result of the grant of performance rights to Mr Carstens, Base Resources 
has the following securities on issue: 
 
  * 1,178,011,850 fully paid ordinary shares; 
  * 72,612,435 performance rights issued under the LTIP, comprising: 
      + 16,542,312 vested performance rights, which remain subject to 
        exercise1; and 
      + 56,070,123 unvested performance rights. 
 
[Note (1): Vested performance rights have a nil cash exercise price.  Unless 
exercised beforehand, performance rights expire five years after vesting.] 
 
ENDS. 
 
For further information contact: 
 
James Fuller, Manager Communications and Investor  UK Media Relations 
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] 
 
 
 
 
END 
 
 

(END) Dow Jones Newswires

November 30, 2022 08:29 ET (13:29 GMT)