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BASE RESOURCES LIMITED - Notice of change of Significant Shareholder

AIM and Media Release 

3 March 2020

Notice of change of Significant ShareholderBASE RESOURCES LIMITED

(ASX & AIM: BSE) () advises that it has today received notification from Bank of America Corporation that it and its related bodies corporate () have increased their voting power in to 90,789,102 ordinary shares, representing 7.75% of the total ordinary shares on issue and constituting a significant shareholding for the purposes of the AIM Rules for Companies.Base Resources LimitedBase ResourcesBase ResourcesBase ResourcesBank of America

Bank of America’s interest in 90,789,102 ordinary shares is held as follows:

The increase in Bank of America’s holding for the purposes of the AIM Rules for Companies was the net result of the borrowing and return of ordinary shares pursuant to prime brokerage agreements, and the result of the acquisition of ordinary shares, in each case, on and from .   26 February 2020

acquired 20,006,417 shares for an average price of per share between and (excluding any securities borrowed pursuant to a prime brokerage agreement).  Other than by the return of securities pursuant to a prime brokerage agreement, did not otherwise dispose of any securities from and .Bank of AmericaBank of AmericaA$0.19026 February 202028 February 202026 February 202028 February 2020

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:

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

Merrill Lynch       Power to control     Merrill Lynch            60,626,629
(Australia) Futures voting and/or        (Australia) Nominees
Ltd                 disposal of          Pty Ltd
                    securities in its
                    capacity as ultimate
                    beneficial owner
                    having a principal
                    position.

Merrill Lynch       Borrowing of         Merrill Lynch            30,162,473
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
                    securities.
,  and Investor  Media Relations
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: 8.5

Market: AIM
Market Cap: £99.59 m
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