TWR
01/10/2013 08:46
SSH
REL: 0846 HRS Tower Limited
SSH: TWR: SSH - (Guinness Peat Group plc and Ithaca (Custodians) Ltd)
Disclosure of ceasing to have substantial holding
Section 25, Securities Markets Act 1988
To: NZX Limited
And: Tower Limited
Date this disclosure made: 1 October 2013
Date last disclosure made: 30 September 2013
Substantial security holder(s) giving disclosure
Name(s): Guinness Peat Group plc
Ithaca (Custodians) Limited
Contact details:
C/ Guinness Peat Group plc
Robert Campbell
[email protected]
+64 21 020 19192
Date on which substantial security holder(s) ceased to have substantial
holding: 30 September 2013
Summary of previous substantial holding to which disclosure relates
Class of listed voting securities: Ordinary shares
Summary for: Guinness Peat Group plc and Ithaca (Custodians) Limited
For last disclosure,--
(a) total number held in class: 28,383,249
(b) total in class: 207,193,438
(c) total percentage held in class: 13.699%
For current holding after ceasing to have substantial holding:
(a) total number held in class: 0
(b) total in class: 207,193,438
(c) total percentage held in class: 0.000%
Details of transactions and events giving rise to person ceasing to have
substantial holding
Details of the transactions or other events requiring disclosure under the
instructions to this form:
Guinness Peat Group plc (GPG) entered into an agreement with First NZ Capital
Securities Limited (First NZ), dated 29 September 2013 (Agreement). On the
date of the Agreement, GPG held, through its custodian (Ithaca (Custodians)
Limited), 69,614,743 ordinary shares in Tower Limited. As disclosed in GPG's
substantial security holders notice, dated 30 September 2013, under the
Agreement GPG, through its custodian (Ithaca (Custodians) Limited), sold
41,231,494 ordinary shares to First NZ on 30 September 2013 (with settlement
to follow on a T+3 basis). The total consideration received in respect of
these shares is NZ$70,093,539.80 (being NZ$1.70 per share).
GPG has sold, through its agent (First NZ), the remaining 28,383,249 ordinary
shares to third party purchasers effective 30 September 2013 (with settlement
to follow on a T+3 basis). The consideration received by GPG in respect of
these shares is NZ$48,251,523.30 (being NZ$1.70 per share).
Additional information
Nature of connection between substantial security holders: Ithaca
(Custodians) Limited held the shares, the subject of this substantial
security holder notice, in Tower Limited as custodian for Guinness Peat Group
plc.
Address(es) of substantial security holder(s):
1st Floor, Times Place
45 Pall Mall
London
United Kingdom
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: First NZ Capital Securities Limited
Declaration
I, Dale Tully, 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:00241813 For:TWR Type:SSH Time:2013-10-01 08:46:12
