Board approves acquisition of 10% of equity shares of Bread Private Limited (Gimme NZ) via share swap

Board meeting held on 8 October 2026.

Thu 8 Oct 2026

Stake Acquired

10% of the equity shares of M/s. Bread Private Limited (Gimme NZ), New Zealand

Target Paid Up Capital

$ 75,000

Target FY 2025-26 Turnover

$ 272,333

What the board approved

At its meeting held on 8 October 2026, the Board of the company approved the acquisition of 10% of the equity shares of M/s. Bread Private Limited, a private limited company registered in Christchurch, New Zealand that is referred to in the update as Gimme NZ. The company has entered into a Terms Sheet for this acquisition, and the consideration is a share swap.

The board also decided that the manner and timing of the preferential allotment of shares for the share swap will be decided subsequent to valuation and other legalities.

What the target company does

Bread Private Limited is engaged in food delivery services and the marketing of premium liquor and related products, and the industry is described in the update as marketing of alcoholic and non-alcoholic beverages, liquor, spirits, wine, whisky, beer etc. Its delivery service covers Auckland, Christchurch, Hamilton, Tauranga, Queenstown and Dunedin with delivery within 45 minutes, and the next business day anywhere else in New Zealand.

Financials given for the target

• Paid up share capital: $ 75,000
• FY 2023-24 turnover: $ 105,945
• FY 2024-25 turnover: $ 156,293
• FY 2025-26 turnover: $ 272,333

Presentation material included with the update refers to more than 20,000 registered customers across New Zealand and to annual recurring revenue of about $500k in August 2026.

Deal structure and conditions

• The proposed acquisition is subject to completion of valuation reports of Bread Private Limited, and completion is subject to fulfilment of the conditions in the Share Purchase Agreement (SPA) and other transaction documents or agreements to be signed between the parties.
• The cost of acquisition and the price at which the shares are acquired will be determined prior to or at the time of signing the SPA.
• The acquisition is likely to be completed within four months of signing of the definitive SPA, subject to due diligence to the satisfaction of the Board.
• The acquisition does not fall within related party transactions, and the promoter or promoter group of the company has no interest in Bread Private Limited.
• Details of any governmental or regulatory approvals required for the acquisition are stated as Not Applicable.

What investors may note

• The company states the acquisition aligns with its strategic growth initiatives aimed at business expansion, diversification and strengthening of its market presence, and is expected to bring synergistic benefits and enhance its innovation, quality and competitiveness.
• The stake being acquired is 10% of the equity shares of the target company.
• Since the consideration is a share swap and the cost and price are yet to be determined, the eventual effect on the company's shareholding will depend on the preferential allotment that is to be decided later.
• The acquisition involves conditions, approvals and timelines that are to be completed before it takes effect.

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