Scheme of Arrangement Update - NZ Commerce Commission

NZX Statement 27 May 2026

SCHEME OF ARRANGEMENT UPDATE – NEW ZEALAND COMMERCE COMMISSION
On 2 October 2025, Bremworth Limited ("Bremworth") (NZX Code: BRW) announced it had entered
into a scheme implementation agreement ("SIA") with Floorscape Limited ("Floorscape"), and
Mohawk Industries, Inc. (as guarantor) under which Floorscape agreed to acquire all of Bremworth's
shares through a Scheme of Arrangement ("Scheme").
The SIA is conditional upon the satisfaction of certain conditions, including receipt of a clearance
decision from the New Zealand Commerce Commission ("NZCC") in respect of the Scheme.
As detailed in Bremworth's NZX announcement, on 7 April 2026 the NZCC indicated it will be
releasing a Statement of Unresolved Issues and extended its decision date to 29 May 2026.
The NZCC has now advised that it requires an extension to this decision date and Floorscape has
agreed to a revised decision date of 30 June 2026.
As a result of the NZCC's extension to 30 June 2026, it is unlikely that implementation of the Scheme
could occur prior to the End Date of 7 August 2026. Unless a further extension to the SIA is agreed, if
implementation does not occur prior to 7 August 2026, either Bremworth or Floorscape may elect to
terminate the SIA, meaning the Scheme would lapse.
In light of the revised NZCC timeline, the Board will engage with Floorscape on extending the SIA to
ensure implementation can occur assuming NZCC clearance is received on 30 June 2026 and
shareholders approve the Scheme. Bremworth will provide a further update to shareholders once
discussions with Floorscape have concluded.
Bremworth continues to have confidence in the merits of the Scheme for shareholders and New
Zealand consumers and will engage with the NZCC as required.

-ENDS-

For media enquiries, please contact:
Mark Devlin Rob Hewett
Impact PR (for Bremworth Ltd) Bremworth Ltd
M: +64 21 509 060 M: +64 21 341 744