Receipt of Substantial Product Holder Notice

NZX Statement 10 August 2026

RECEIPT OF SUBSTANTIAL PRODUCT HOLDER NOTICE
The directors of Bremworth Limited (NZX Code: BRW) ("Bremworth") advise that a substantial
product holder notice ("Notice") has today been filed with NZX by David Ferrier, Henry Lawford
Lonsdale Ferrier and Mangawhai Collective Limited, acting in concert ("Mangawhai”).
The Notice advises that Mangawhai has entered into lock-up deeds with shareholders representing
32.241% of the ordinary shares in Bremworth, whereby those shareholders have, if Mangawhai
chooses to make a partial takeover offer on the terms described in the lock-up deeds, agreed to
accept (or procure the acceptance of) a partial takeover offer for all of the ordinary shares in
Bremworth that they or their relevant related trusts or entities own or control.
The lock-up deeds apply to a partial takeover offer under the Takeovers Code which would result in
Mangawhai holding or controlling more than 50% and potentially up to 55% of the voting rights in
Bremworth on issue. The offer must be at a price of no less than $0.90 per Bremworth share. The
lock-up deeds are subject to customary conditions, including that the offer price is not less than the
value (and where expressed as a range then not below the bottom end of any value range) assessed
for each share by the independent adviser in its report prepared under Rule 21 of the Takeovers
Code.
Bremworth has not yet received a notice under rule 41 of the Takeovers Code of Mangawhai’s
intention to make a partial takeover offer under the Code. No offer has yet been received by
Bremworth or announced by Mangawhai.
The Bremworth Board strongly recommends that Bremworth shareholders DO NOT TAKE ANY
ACTION in respect of their shares until they receive further information or guidance from the Board.

-ENDS-

For media enquiries, please contact:
Jackie Ellis Rob Hewett
Ellis and Co (for Bremworth Ltd) Bremworth Ltd
M: +64 27 246 2505 M: +64 21 341 744