Company Announcements

BASE RESOURCES LIMITED - Notice of change of Significant Shareholder

AIM and Media Release 

14 February 2020

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 Corporation that it and its related bodies corporate (Bank of America) have decreased their voting power in Base Resources to 77,775,515 ordinary shares, representing 6.64% of the total Base Resources ordinary shares on issue and constituting a significant shareholding for the purposes of the AIM Rules for Companies.

Bank of America’s interest in 77,775,515 ordinary shares is held as follows:

Holder of interest  Nature of interest   Registered holder of Number of ordinary
                                         shares               shares

Merrill Lynch       Power to control     Merrill Lynch            35,613,042
(Australia) Futures voting and/or        (Australia) Nominees
Ltd                 disposal of          Pty Ltd
                    securities in its
                    capacity as ultimate
                    beneficial owner
                    having a principal

Merrill Lynch       Borrowing of         Merrill Lynch            42,162,473
International       securities pursuant  (Australia) Nominees
(Australia) Ltd     to a Prime Brokerage Pty Ltd
                    Agreement, with
                    power to control the
                    voting and/or
                    disposal of borrowed

The decrease in Bank of America’s holding for the purposes of the AIM Rules for Companies was the net result of the return of ordinary shares pursuant to prime brokerage agreements and the acquisition of ordinary shares, since 31 January 2020.   

Bank of America acquired 19,054 shares for an average price of A$0.247 per share between 31 January 2020 and 12 February 2020.  Other than by the return of securities pursuant to prime brokerage agreements, Bank of America did not otherwise dispose of any securities from 31 January 2020 to 12 February 2020.

A copy of the notice referred to in this release is available from the Company’s website:


For further information contact:

      James Fuller, Manager Communications and Investor UK Media Relations

Base ResourcesTavistock Communications

Tel: +61 (8) 9413 7426                            Jos Simson and Barnaby Hayward

Mobile: +61 (0) 488 093 763                       Tel: +44 (0) 207 920 3150


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

Level 1, 50 Kings Park Road
West Perth, Western Australia, 6005
Phone: +61 (0)8 9413 7400
Fax: +61 (0)8 9322 8912

RFC Ambrian Limited

Stephen Allen
Phone: +61 (0)8 9480 2500


Matthew Armitt / Detlir Elezi
Phone: +44 20 3207 7800

Numis Securities Limited

John Prior / James Black / Paul Gillam
Phone: +44 20 7260 1000