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- Release Date: 08/04/13 19:31
- Summary: CAPREC: TWR: TOWER Limited Capital Return - Shares Cancelled
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TWR
08/04/2013 17:31
CAPREC
REL: 1731 HRS Tower Limited
CAPREC: TWR: TOWER Limited Capital Return - Shares Cancelled
MEDIA STATEMENT
8 April 2013
For immediate release
Market Information
NZX Limited
Level 2, NZX Centre
11 Cable Street
Wellington
NEW ZEALAND
Company Announcements Office
Australian Stock Exchange Limited
Exchange Centre
Level 6, 20 Bridge Street
Sydney NSW 2000
AUSTRALIA
TOWER Limited Capital Return - Shares Cancelled
Further to TOWER Limited's 26 March announcement regarding its Capital
Repayment plan, TOWER announced today that it has cancelled 3 in every 13
ordinary TOWER shares registered in the name of each TOWER ordinary
shareholder. This has resulted in the cancellation of 62,097,656 shares,
leaving 206,993,438 shares on issue. This cancellation has occurred pursuant
to the return of capital arrangement approved by TOWER Limited shareholders
at its Annual Shareholders' Meeting held on 21 March 2013.
TOWER shares have been trading on an 'ex return of capital' basis on ASX from
28 March 2013, and on NZX from 3 April 2013.
TOWER will, on Friday 12 April, pay NZ$1.92 for each share cancelled, meaning
shareholders will receive a total payment of NZ$119,227,499.52 for all shares
cancelled. Australian shareholders will receive approximately AUD$1.55 per
cancelled share (based on a NZD/AUD exchange rate of 0.8065 as at the record
date).
Ends
Bronwyn Walsh
Company Secretary & Compliance Manager
TOWER Limited
ARBN 088 481 234 Incorporated in New Zealand
End CA:00234984 For:TWR Type:CAPREC Time:2013-04-08 17:31:22
