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- Release Date: 11/03/13 11:44
- Summary: GENERAL: TWR: TWR Return of Capital and ISIN Change
- Price Sensitive: No
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TWR
11/03/2013 09:44
GENERAL
REL: 0944 HRS Tower Limited
GENERAL: TWR: TWR Return of Capital and ISIN Change
MEMORANDUM
To : NZX Market Participants
From : NZX Markets
Date : 11 March 2013
Subject : Tower Limited ("TWR")
Return of Capital and ISIN Change to TWR
Message :
On 17 December 2012 and 19 February 2013, Tower Limited (TWR) announced its
proposed return of $120 million of capital to shareholders subject to Court
approval and a special resolution being passed at its annual shareholders'
meeting to be held on Thursday, 21 March 2013.
Subject to Court and shareholder approval, the proposed repayment of capital
will be on a pro-rata basis, with three (3) shares for every thirteen (13)
ordinary shares held cancelled at the Record Date of Friday, 5 April 2013.
TWR will pay shareholders $1.92 NZD for each cancelled share on the payment
date of Friday, 12 April 2013.
In order for the repayment of capital to be processed and for trading on the
NZSX (NZX Main Board) to continue, a temporary ticker code ("TWRZ") with the
ISIN NZTWRE0011S2 will be created. This temporary ticker code will be used
from the Ex-Date, Wednesday, 3 April 2013 until market close on Friday, 5
April 2013.
On Monday, 8 April 2013, trading will resume using the original Tower Limited
ticker code (TWR) with the new ISIN, NZTWRE0011S2. At this time use of the
temporary ticker code TWRZ will cease.
Timetable:
Event Date
Annual Shareholders' meeting Thursday, 21 March 2013
Ex Date for capital return
TWRZ commences trading with new ISIN* Wednesday, 3 April 2013
Record Date for capital return 5.00pm Friday, 5 April 2013
Trading resumes under TWR with new ISIN Monday, 8 April 2013
Payment date for capital return Friday, 12 April 2013
*ISIN and ticker code dates differ between NZX and ASX.
Please contact Client and Market Services ("CMS") on +64 4 496 2853 with any
queries.
ENDS.
End CA:00233991 For:TWR Type:GENERAL Time:2013-03-11 09:44:28
