Bremworth to buy back shares from departing executive

Bremworth (NZX:BRW) announced its intention to buy back 500,000 ordinary shares from Greg Smith, a departing executive, as part of an Equity Ownership Plan. The Share Buyback involves shares issued under NZX Listing Rule 4.6. Smith originally acquired the shares at NZ$0.4161 per share via an interest-free loan (Acquisition Loan) from the company. Bremworth will buy back the shares at NZ$0.65 per share, the closing price on April 2, 2025, totaling NZ$325,000. The Acquisition Loan will be settled first, with any remaining funds paid to Mr. Smith. Following the buyback, Bremworth will cancel the shares, decreasing the total shares outstanding from 71,061,519 to 70,561,519. This is expected to increase the proportionate shareholding of remaining Bremworth shareholders.