August 17th NZX Statement

NZX Statement 17 August 2026

RECEIPT OF TAKEOVER NOTICE

Partial Nature of the Offer

The Bidder currently holds or controls 19.734% of the total number of the voting rights in Bremworth. If an offer is made and is successful, this would result in the Bidder holding up to 55% (and no less than 50.001%) of the voting rights in Bremworth. The Board notes that, given the offer is only for up to 55% of the voting rights in Bremworth, there is no guarantee that shareholders selling into the offer will be able to realise the offer price for all of their shares as excess acceptances would be scaled back.

As announced to the market on 10 August 2026, the Bidder has entered into lock-up deeds with shareholders representing 32.241% of the voting shares in Bremworth, obliging those shareholders to accept (or procure the acceptance of) the partial takeover offer, if made, for all of the shares in Bremworth that they or their relevant related trusts or entities own or control. Copies of the lock-up deeds are attached to the Bidder's substantial product holder notice lodged with NZX on 10 August 2026.

The Bremworth Board has formed a Board sub-committee to oversee Bremworth's response. The committee members are Trevor Burt, Julie Bohnnen and Murray Dyer.

The Bremworth Board considers it too early to comment on the merits of the draft offer at this time.

Bremworth intends to appoint Clarien Partners as an independent expert to evaluate the merits of the proposed offer. The Board will report to shareholders more fully in accordance with the Takeovers Code requirements once this advice has been received and its assessment of the proposed offer has been completed.

Attachments:

Takeover Notice under Rule 41 of the Takeovers Code 

ENDS

For media enquiries, please contact:

Jackie Ellis
Ellis and Co (for Bremworth Ltd) M: +64 27 246 2505

Trevor Burt Bremworth Ltd
Trevor Burt <trevor@breakawayinvestments.co.nz>