Capital change notice

Capital Change Notice





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 issued/acquired/redeemed 500,000 ordinary shares

480,000 options which will
convert into ordinary shares as
described below
Nominal value (if any) N/A
Issue/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)
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/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Issue of shares pursuant to the
Bremworth Equity Ownership
Plan

Issue of options pursuant to
the Bremworth Share Option
Scheme
Total number of Financial Products of the Class after the
issue/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
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, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
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, acquisition, or redemption (for
example: restrictions, escrow arrangements)
The terms or details of the
issue are contained in the
Equity Ownership Plan Rules
and Share Option Scheme
Rules.
Date of issue/acquisition/redemption 10 September 2021
Section 3: Authority for this announcement and contact person
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