Base Resources reports exercise of options

AIM-listed Base Resources has issued 1.4m fully paid ordinary shares as a result of the exercise of options to acquire fully paid ordinary shares in the capital of the company at an exercise price of A0.09 dollars.

AIM-listed Base Resources has issued 1.4m fully paid ordinary shares as a result of the exercise of options to acquire fully paid ordinary shares in the capital of the company at an exercise price of A0.09 dollars.

The options were exercised by Colin Bwye, a Director of the company. Following the option exercise and share issue, Bwye holds an interest in 2.2m fully paid ordinary shares, 3.6m unlisted options and 5.0m unlisted options.

The company now has 56.8m fully paid ordinary shares, 8.5m unlisted options exercisable at A$0.25 on or before July 9th 2015, 7.1m unlisted options exerciable at A$0.09 on or before July 9th 2015 and 1.0m unlisted options exercisable at A$0.25 on or before July 30th 2015.

The company said that it had has applied for the new shares to be admitted to trading on both the ASX and AIM markets. Trading in the new shares on AIM is expected to commence on or around April 5th 2013.

Base Resources is developing the Kwale Mineral Sands Project in Kenya, East Africa. The Kwale Project was acquired by Base in July 2010 from Vaaldiam Mining, which had spent more than $US60m to progress the project through resource definition, government approvals and Definitive Feasibility Studies.

Base Resources share price was at 28.50p at 11:10 on Tuesday

MF

Recommended

Share tips of the week – 21 January
Share tips

Share tips of the week – 21 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
21 Jan 2022
Seven cheap defence stocks to buy now
Share tips

Seven cheap defence stocks to buy now

We’ve got used to a world without war between major powers, but that era is coming to an end as Russia threatens Ukraine and China eyes Taiwan. Buy de…
21 Jan 2022
Invest in VCTs: tax-free investments set to break records
Investment strategy

Invest in VCTs: tax-free investments set to break records

Generous tax breaks make VCTs – venture capital funds – an attractive supplement to pensions.
21 Jan 2022
HubSpot: a tech stock set to tumble
Trading

HubSpot: a tech stock set to tumble

US tech stocks have had a fantastic couple of years. But this year is unlikely to be so bullish for high-fliers that can’t turn big profits.
18 Jan 2022

Most Popular

Ask for a pay rise – everyone else is
Inflation

Ask for a pay rise – everyone else is

As inflation bites and the labour market remains tight, many of the nation's employees are asking for a pay rise. Merryn Somerset Webb explains why yo…
17 Jan 2022
Temple Bar’s Ian Lance and Nick Purves: the essence of value investing
Investment strategy

Temple Bar’s Ian Lance and Nick Purves: the essence of value investing

Ian Lance and Nick Purves of the Temple Bar investment trust explain the essence of “value investing” – buying something for less than its intrinsic v…
14 Jan 2022
US inflation is at its highest since 1982. Why aren’t markets panicking?
Inflation

US inflation is at its highest since 1982. Why aren’t markets panicking?

US inflation is at 7% – the last time it was this high interest rates were at 14%. But instead of panicking, markets just shrugged. John Stepek explai…
13 Jan 2022