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- Release Date: 31/01/14 11:23
- Summary: ALLOT: TWR: TOWER Limited - Acquisition of shares under buy back offer
- Price Sensitive: No
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TWR
31/01/2014 09:23
ALLOT
REL: 0923 HRS Tower Limited
ALLOT: TWR: TOWER Limited - Acquisition of shares under buy back offer
31 January 2014
Market Information
NZX Limited
Level 2, NZX Centre
11 Cable Street
Wellington
New Zealand
Company Announcements Office
Australian Stock Exchange
Exchange Centre
Level 6, 20 Bridge Street
Sydney NSW 2000
AUSTRALIA
TOWER Limited - Acquisition of shares under buy back offer
TOWER Limited (TOWER) gives notice under Rule 7.12.1 of the Main Board
Listing Rules that it has acquired a total of 29,048,308 shares in TOWER at
NZ $1.81 per share.
As required by Rule 7.12.1:
-The shares are ordinary shares (NZTWRE0011S2);
-The total number of shares acquired was 29,048,308;
-The shares were acquired through an off market pro-rata buyback offer to
each shareholder of TOWER at NZ $1.81 per share (a total of NZ
$52,577,437.48);
-The shares were acquired for cash;
-The shares represent 14.0199% of the total number of ordinary shares at the
beginning of today;
-The buy back is a result of TOWER seeking to return $70 million of capital
to shareholders. The capital, raised through the sale of the majority of
TOWER's Life business, is surplus to TOWER's capital and business
requirements;
-The acquisition was authorised by a resolution of the TOWER board;
-The total number of TOWER shares on issue after the acquisition by TOWER is:
178,145,130;
-The shares will not be held as Treasury Stock (as defined by the Companies
Act 1993); and
-The date of the acquisition is 31 January 2014.
Michael Boggs
Chief Financial Officer
TOWER Limited
ARBN 088 481 234 Incorporated in New Zealand
End CA:00246542 For:TWR Type:ALLOT Time:2014-01-31 09:23:58
