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- Release Date: 26/06/12 18:14
- Summary: S/HOLDER: TWR: Stock & Share Trading - additional low ball offer
- Price Sensitive: No
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TWR
26/06/2012 16:14
S/HOLDER
REL: 1614 HRS Tower Limited
S/HOLDER: TWR: Stock & Share Trading - additional low ball offer
26 June 2012
Stock & Share Trading - additional low ball offer letter dated 20 June 2012
Further to our announcement dated 20 June 2012 in respect of the low ball
offer letter dated 15 June 2012, TOWER Limited (TOWER) has again been advised
that Stock & Share Trading Company Pty Limited (Stock & Share Trading) has
written to some TOWER shareholders, letter dated 20 June 2012, offering to
buy TOWER shares for $1.00 per share. The price offered of $1.00 per share is
a substantial discount to the current market price of TOWER shares. The
market price of TOWER shares on the NZX was $1.54 per share at close of
trading yesterday.
TOWER understands that Stock & Share Trading is an Australian company, whose
sole director and shareholder is John Armour.
Should you as a TOWER shareholder receive such an offer, TOWER strongly
recommends that you seek independent advice and check the most recent market
price for TOWER shares on the NZX.
Ends
Bronwyn Walsh
Company Secretary & Compliance Manager
TOWER Limited
ARBN 088 481 234 Incorporated in New Zealand
End CA:00224298 For:TWR Type:S/HOLDER Time:2012-06-26 16:14:43
