TWR
05/08/2014 16:17
GENERAL
REL: 1617 HRS Tower Limited
GENERAL: TWR: Zero Commission NZ Limited - Unsolicited Offer
5 August 2014
Market Information
NZX Limited
Level 2, NZX Centre
11 Cable Street
Wellington
New Zealand
Company Announcements Office
Australian Securities Exchange Limited
Exchange Centre
Level 6, 20 Bridge Street
Sydney NSW 2000
Australia
Zero Commission NZ Limited - Unsolicited Offer
(Auckland - NZ) TOWER advises that Zero Commission NZ Limited has notified
its intention to write to certain TOWER shareholders holding parcels of
between 200-750 shares with an offer to buy their shares at $1.72 per share.
The market price for TOWER shares was $1.82 per share as at close of trading
on 4 August 2014.
The presently proposed offer is expected to open on 5 August 2014 and close
on 9 September 2014. Additionally, TOWER shareholders should be aware that
Zero Commission may make further offers to targeted groups of shareholders
over the next six months.
TOWER does not endorse this offer, or any subsequent offers made by Zero
Commission.
TOWER recommends that shareholders who receive an offer from Zero Commission:
- read Zero Commission's disclosure document and terms of offer carefully and
thoroughly;
- seek independent financial and/or legal advice if they are uncertain about
this matter or are contemplating selling their TOWER shares; and
- check the most recent market price for TOWER shares
(www.nzx.com/companies/TWR or published daily in the newspaper).
Shareholders are under no obligation to accept any offer or to take any
action in respect of the Zero Commission offer. Unsolicited share offers are
subject to the Securities Market (Unsolicited Offers) Regulations 2012. Under
these regulations, shareholders have the right to cancel any acceptance of
the offer up to 10 working days after the date of the acceptance.
Shareholders accepting Zero Commission's offer should be aware that they are
likely to be in the position of being an unsecured creditor of Zero
Commission during the period between their shares being transferred to Zero
Commission and receiving full payment from Zero Commission.
ENDS
Michael Boggs
Chief Financial Officer
TOWER Limited
ARBN 088 481 234 Incorporated in New Zealand
For further information, please contact:
Tracey Palmer
Head of Corporate Communications
TOWER Limited
Mobile: +64 21 837 860
Email: [email protected]
End CA:00253507 For:TWR Type:GENERAL Time:2014-08-05 16:17:57
