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BASE RESOURCES LIMITED - Notice of change of Substantial Shareholder

AIM and Media Release 

11 February 2020

Notice of change of Substantial ShareholderBASE RESOURCES LIMITED

(ASX & AIM: BSE) () advises that it has today received notification from () that it has decreased its voting power in to 124,549,009 ordinary shares, representing 10.63% of the total ordinary shares on issue and constituting a substantial shareholding for the purposes of the AIM Rules for Companies.Base Resources LimitedRegal Funds Management Pty LtdBase ResourcesBase ResourcesBase ResourcesRegal Funds Management

Regal Funds Management’s interest in 124,549,009 ordinary shares is held as follows:

The decrease in Regal Funds Management’s holding for the purposes of the AIM Rules for Companies was the net result of the disposal and acquisition of ordinary shares, since .   1 November 2018

acquired 46,882,179 shares for an average price of per share between and .  It disposed of a total of 75,400,000 shares for an average price of on and .Regal Funds ManagementA$0.243A$0.24312 November 201813 August 201928 June 20197 February 2020

A copy of the notice referred to in this release is available from the Company’s website:  .www.baseresources.com.au


For further information contact:

AboutBase 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 and is developing the in Madagascar.  is an ASX and AIM listed company.  Further details about are available atBase ResourcesToliara ProjectBase ResourcesBase ResourcesKenyawww.baseresources.com.au

Level 1, , 6005 Email:  Phone: +61 (0)8 9413 7400 Fax: +61 (0)8 9322 8912PRINCIPAL & REGISTERED OFFICE

50 Kings Park RoadWest Perth, Western Australia[email protected]

Phone: +61 (0)8 9480 2500NOMINATED ADVISOR
RFC Ambrian Limited

Stephen Allen

/ Detlir Elezi Phone: +44 20 3207 7800JOINT BROKER Berenberg

Matthew Armitt

/ / Phone: +44 20 7260 1000JOINT BROKER
Numis Securities Limited

John PriorJames BlackPaul Gillam

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

UBS AG, Australia   Holder of shares   UBS Nominees Pty Ltd      32,283,001

Morgan Stanley & Co Holder of shares   Morgan Stanley & Co        511,605
Intl PLC                               Intl PLC

Merrill Lynch       Holder of shares   Merrill Lynch             61,760,043
International                          International Limited

Credit Suisse       Holder of shares   Credit Suisse             29,994,360
Securities Europe                      Securities Europe Ltd
,  and Investor  Media Relations


Tel: +61 (8) 9413 7426                             and 

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

Email:James FullerJos SimsonBarnaby HaywardManager CommunicationsBase ResourcesTavistock CommunicationsUK[email protected]

Quick facts: Base Resources Limited

Price: 10.4

Market: AIM
Market Cap: £121.85 m

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