Energy Fuels Merger
Base Resources merged with Energy Fuels Inc., via a Scheme of Arrangement (Scheme), on 2 October 2024. The combination creates a global critical minerals company with a focus on rare earth elements, heavy mineral sands, uranium and vanadium production. Information about the consideration received by Base Resources Shareholders in connection with the Scheme and some frequently asked questions are below. For more information, download the Scheme Booklet. Unless defined on this sub-page, capitalised terms used on this sub-page have the meaning given in the Scheme Booklet.
Scheme Consideration
On the Implementation Date (2 October 2024), Base Resources Shareholders received the Scheme Consideration of 0.0260 Energy Fuels Shares for each Base Resources Share held on the Scheme Record Date (20 September 2024).
Base Resources Shareholders who were Ineligible Foreign Shareholders or Electing Small Shareholders did not receive Energy Fuels Shares. Instead, they received their pro rata share of the Net Cash Proceeds from the sale of the Energy Fuels Shares to which they otherwise would have been entitled in accordance with the sale facility under the Scheme. Refer to sections 4.4, 4.5 and 10.6 of the Scheme Booklet for further information.
Energy Fuels Transfer Agent (share registry), Equiniti, has mailed a DRS Advice to Base Resources Shareholders receiving Energy Fuels Shares, providing details of their new Energy Fuels shareholding. If you are yet to receive your DRS Advice, you should contact Equiniti by email on helpAST@equiniti.com or phone on +1 (718) 921-8124.
Special Dividend
In connection with the Energy Fuels merger, a Special Dividend of AUD 6.5 cents per share was paid on 1 October 2024 to shareholders who held Base Resources Shares on the Special Dividend Record Date (18 September 2024).
The Special Dividend was paid by direct credit only. Shareholders that did not provide valid banking instructions for the Special Dividend (or any prior dividends subject to mandatory direct credit) will have had their payment held in a non-interest-bearing account until they have done so.
FREQUENTLY ASKED QUESTIONS
Below are some common FAQs in relation to post-Scheme implementation matters. A full list of FAQ’s can be found in section 2 of the Scheme Booklet.
What happens to my Base Resources Shares?
On implementation of the Scheme on 2 October 2024, all Base Resources Shares were transferred to Energy Fuels. In exchange, each Base Resources Shareholder (other than ineligible Foreign Shareholders and Electing Small Shareholders, who should refer to sections 4.4, 4.5 and 10.6 of the Scheme Booklet) has been issued Energy Fuels Shares as the Scheme Consideration – 0.026 Energy Fuels Shares per Base Resources Share.
On 3 October 2024, Base Resources was delisted from the ASX and AIM. As a consequence, you will no longer see Base Resources Shares in your portfolio.
Base Resources Shareholders who are Ineligible Foreign Shareholders or Electing Small Shareholders will not receive Energy Fuels Shares. Instead, they received their pro rata share of the Net Cash Proceeds from the sale of the Energy Fuels Shares to which they otherwise would have been entitled in accordance with the sale facility under the Scheme. Refer to sections 4.4, 4.5 and 10.6 of the Scheme Booklet.
For more information refer to sections 4.6(f) of the Scheme Booklet.