TWR
03/02/2014 17:11
SSH
REL: 1711 HRS Tower Limited
SSH: TWR: SSH - Accident Compensation Corporation (ACC)
Disclosure of movement of 1% or more in substantial holding or change in
nature of relevant interest or both
Sections 23 and 24, Securities Markets Act 1988
Relevant event being disclosed: Movement of 1% or more
Date of relevant event: 31 January 2014
To: NZX Limited
And: TOWER LTD NPV
Date this disclosure made: 3 February 2014
Date last disclosure made: 2 May 2013
Substantial security holder(s) giving disclosure
Name(s): Accident Compensation Corporation ("ACC")
Nicholas Bagnall, Blair Tallott, Paul Robertshawe, Blair
Cooper, Jason Familton
Contact details: Matthew Cunliffe +64 4 816 5743
[email protected]
Summary of substantial holding to which disclosure relates
Class of listed voting securities: Ordinary Shares
Summary for: Accident Compensation Corporation ("ACC")
Nicholas Bagnall, Blair Tallott, Paul Robertshawe, Blair Cooper
For this disclosure,--
(a) Total number held in class: 14,997,893
(b) Total in class: 178,145,130
(c) Total percentage held in class: 8.419%
For last disclosure,--
(a) Total number held in class: 14,998,606
(b) Total in class: 206,993,438
(c) Total percentage held in class: 7.246%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure under the
instructions to this form:
Acquisition of 29,048,308 shares by Tower Limited on the 31st of January
2014, under buy back offer.
Details of relevant interests in substantial holding after relevant event
Details for: ACC
Nature of relevant interest(s):
Beneficial owner of securities under s 5 (1) (b) of the Securities Markets
Act
No relevant agreement document needs to be attached under regulation 11.
For that relevant interest,--
(a) Number held in class: 14,997,893
(b) Percentage held in class: 8.419%
(c) Current registered holder(s) of securities: ACC via New Zealand
Central Securities Depository Limited (NZCSD)
(d) Registered holder(s) of securities once transfers registered: unknown
Details for: Nicholas Bagnall, Blair Tallott, Paul Robertshawe, Blair
Cooper, Jason Familton
Nature of relevant interest(s):
Qualified powers to exercise control of rights to vote and of acquisition or
disposal of some or all of the securities, of which the Accident Compensation
Corporation ("ACC") is the beneficial owner under s 5(1)(c)and 5 (1)(d) of
the Securities Markets Act. Further to regulation 11(2)(b), the material
terms of this arrangement are that powers are subject to ACC investment
policies and the decisions of the ACC Investment Committee.
For that relevant interest,
(a) Number held in class: 14,997,893
(b) Percentage held in class: 8.419%
(c) Current registered holder(s) of securities: ACC via New Zealand
Central Securities Depository Limited (NZCSD)
(d) Registered holder(s) of securities once transfers registered: unknown
Additional information
Nicholas Bagnall, Blair Tallott, Paul Robertshawe, Blair Cooper and Jason
Familton are employees and portfolio managers or equity analysts for ACC.
Under current ACC investment policies, they have the discretion to exercise
control over some or all the rights to vote and acquisition or disposal of
some or all of the securities of which ACC is the beneficial owner
Address(es) of substantial security holder(s): ACC : Justice Centre, 19
Aitken Street, PO Box 242, Wellington, NZ
Name of any other person believed to have given, or believed to be required
to give, a disclosure under the Act in relation to the securities to which
this disclosure relates: n/a
Declaration
I, Matthew Cunliffe, declare that, to the best of my knowledge and belief,
the information contained in this disclosure is correct and that I am duly
authorised to make this disclosure by all persons for whom it is made.
End CA:00246610 For:TWR Type:SSH Time:2014-02-03 17:11:26
