Bremworth Limited — Share Issue/Capital Change 2021

Sep 13, 2021

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Capital Change Notice

Section 1: Issuer information	Section 1: Issuer information	Section 1: Issuer information
Name of issuer			Bremworth Limited
NZX ticker code			BRW
Class of financial product			Ordinary shares Options to acquire ordinary shares
ISIN (If unknown, check on NZX website)			NZCAVE0001S7
Currency			Not applicable
Section 2: Capital change details
Number issue~~d~~		~~/acquired/redeemed~~	500,000 ordinary shares 480,000 options which will convert into ordinary shares as described below
Nominal value		(if any)	N/A
Issu~~e~~	~~/acquisition/redemption~~price per security		$0.4161 per ordinary share Nil consideration for the issue of the options
Nature of the payment (for example, cash or other consideration)			Cash for the shares issued (funded by a full recourse loan from Bremworth Limited) Not applicable for the options
Amount paid up (if not in full)			Fully paid
Percentage of total class of Financial Products issued/~~acquired/redeemed/~~(calculated on the number of Financial Products of the Class, excluding any Treasury Stock, in existence)			0.728% (Shares) 0.699% (Options, on the assumption that they are converted to ordinary shares on a 1:1 basis) Calculation based on the total number of financial products of the class in existence immediately prior to the issue (excluding any shares that could be issued at a later date pursuant to the December 2020 Long Term Incentive Scheme)

	For an issue of Convertible Financial Products or Options, the principal terms of Conversion (for example the Conversion price and Conversion date and the ranking of the Financial Product in relation to other Classes of Financial Product) or the Option (for example, the exercise price and exercise date)	For an issue of Convertible Financial Products or Options, the principal terms of Conversion (for example the Conversion price and Conversion date and the ranking of the Financial Product in relation to other Classes of Financial Product) or the Option (for example, the exercise price and exercise date)	The options are issued pursuant to the Bremworth Share Option Scheme. The options are subject to a vesting period of 5 years, which may be partially accelerated depending on Total Shareholder Return at years 3 and 4. The Total Shareholder Return is calculated by reference to the share price on the vesting date as compared to the share price at the grant date of the options. The share price at the grant date of the options is $0.4161.
	Reason for issue		Issue of shares pursuant to the Bremworth Equity Ownership Plan Issue of options pursuant to the Bremworth Share Option Scheme
	for issue
	Total number of Financial Products of the Class after the issu~~e/acquisition/redemption/Conversion~~(excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue/~~acquisition/redemption.~~		69,179,098
	held as Treasury Stock after the issue
	In the case of an acquisition of shares, whether those shares are to be held as treasury stock		N/A
	Specific authority for the issue		NZX waiver (dated 5 August 2021) and the directors' resolution for the purposes of Listing Rule 4.6.1 (dated 27 August 2021)
	Terms or details of the issue		The terms or details of the issue are contained in the Equity Ownership Plan Rules and Share Option Scheme Rules.
	Date of issu~~e~~	~~/acquisition/redemption~~	10 September 2021
	Name of person authorised to make this announcement		Victor Tan
	Contact person for this announcement		Victor Tan
	Contact phone number		+64 27 668 8963
	Contact email address		vtan@bremworth.co.nz
	Date of release through MAP		13 September 2021