Base Resources issues almost 5m incentive shares

Base Resources announced on Friday that, following performance testing of the 2014 cycle of rights issued pursuant to the its Long Term Incentive Plan (LTIP) as at 30 September, a total of 4,961,983 new fully paid ordinary shares had been issued for the benefit of LTIP participants.

The AIM-traded firm said that, in accordance with the terms of its LTIP, the new shares were issued for nil cash consideration.

Following the issue of the new shares, Base Resources confirmed it has 747,193,939 fully-paid ordinary shares on issue, along with 61,425,061 options exercisable at 40 Australian cents on or before 31 December 2018, and 57,054,948 performance rights issued pursuant to the terms of the LTIP.