For personal use only
1 March 2022
Market Information | Company Announcements Office |
NZX Limited | ASX Limited |
Level 1, NZX Centre | Exchange Centre |
11 Cable Street | Level 6, 20 Bridge Street |
WELLINGTON | Sydney NSW 2000 |
AUSTRALIA |
Capital Return to Shareholders - Final Court Orders Received
Tower Limited (Tower) has received final orders from the High Court on 1 March 2022, approving the return of approximately NZ$30.4 million of capital to its shareholders.
On 13 December 2021 Tower announced that it had received initial orders from the High Court to seek shareholders' approval for the return of capital and to obtain IRD approval. The return of capital is on a pro rata basis, by way of a scheme of arrangement under Part 15 of the Companies Act 1993. The return of capital was approved at a meeting of shareholders on 2 February 2022 with 99.46% of the votes cast, being cast in favour of the resolution. IRD approval has also been obtained.
The scheme will involve Tower's shareholders:
- having one (1) share cancelled for every ten (10) shares held (together with all rights attaching to those shares) on the record date. Fractions of a share will be rounded up or down to the nearest whole number (with 0.5 rounded down); and
- receiving a cash sum of NZ$0.72 for each share cancelled. Australian registered shareholders will receive these funds in Australian dollars at an exchange rate approved by Tower on or about the record date.
Tower Limited 136 Fanshawe Street, PO Box 90347, Auckland 1142, New Zealand Freephone: 0800 808 808 Calling from overseas: +64 9 369 2000 tower.co.nz
For personal use only
The record date for the scheme is 8 March 2022, with a summary of the key important dates set out below:
Event | Date |
Last trading day - Last trading day prior to halt | 4 March 2022 |
of trading on NZX and ASX. | |
Record Date - Record date for determining | 8 March 2022 |
entitlement to participate in the scheme. | |
Implementation Date - Shares cancelled. | 9 March 2022 |
Trading resumes - Trading on NZX and ASX | 9 March 2022 |
resumes (with ASX trading to be on a deferred | |
basis for this day under temporary code | |
TWRDB). | |
Payment - Computershare to make payment | By 22 March 2022 |
and send new shareholding statements (within | |
10 working days of record date). |
Blair Turnbull
Chief Executive Officer
Tower Limited
For media enquiries, please contact in the first instance:
Emily Davies
Head of Corporate Affairs and Reputation +64 21 815 149 emily.davies@tower.co.nz
Tower Limited 136 Fanshawe Street, PO Box 90347, Auckland 1142, New Zealand Freephone: 0800 808 808 Calling from overseas: +64 9 369 2000 tower.co.nz
For personal use only
Template
Corporate Action Notice
(Other than for a Distribution)
Updated as at 17 October 2019
Section 1: issuer information (mandatory)
Name of issuer | Tower Limited | |||||||||
Class of Financial Product | Ordinary Shares | |||||||||
NZX ticker code | TWR | |||||||||
ISIN (If unknown, check on NZX | NZTWRE0011S2 | |||||||||
website) | ||||||||||
Name of Registry | Computershare Investor Services Limited | |||||||||
Type of corporate action | Share purchase | Renounceable | ||||||||
(Please mark with an X in the relevant | plan | Rights issue | ||||||||
box/es) | Capital | Non | ||||||||
reconstruction | X | Renounceable | ||||||||
Rights issue | ||||||||||
Call | Bonus issue | |||||||||
Record date | 08/03/2022 | |||||||||
Ex-Date (one business day before the | 07/03/2022 | |||||||||
Record Date) | ||||||||||
Currency | NZD/AUD | |||||||||
Section 2: Capital reconstruction (delete if not applicable) | ||||||||||
Nature of capital reconstruction | Financial Product | Financial | ||||||||
(Please mark with an X in | Split | Product | ||||||||
applicable box) | Consolidation | |||||||||
Other | X | Amalgamation | ||||||||
Ratio (for example 1 for 2) | New | 1 | Existing | 10 | ||||||
Treatment of fractions | Rounded up or down to the nearest whole number (with | |||||||||
0.5 rounded down). | ||||||||||
Number of Financial Products to be | 42,164,726 ordinary shares are estimated to be cancelled | |||||||||
issued/ redeemed | (to be determined after rounding). | |||||||||
Per Financial Product amount (if | NZ$0.72 for each share cancelled (shareholders with | |||||||||
cash reconstruction) | Australian registered address to be paid NZ$0.72 | |||||||||
converted into Australian dollars at the exchange rate | ||||||||||
organised by Tower's share registrar, as approved by | ||||||||||
Tower). | ||||||||||
Payment date (if cash | 09/03/2022 - 22/03/2022 | |||||||||
reconstruction) | ||||||||||
Allotment date | N/A | |||||||||
Page 1 of 2
For personal use only
Section 3: Authority for this announcement (mandatory)
Name of person authorised to make this | Blair Turnbull |
announcement | |
Contact person for this announcement | Emily Davies |
Contact phone number | +64 21 815 149 |
Contact email address | emily.davies@tower.co.nz |
Date of release through MAP | 01/03/2022 |
2 of 2
For personal use only
This appendix is available as an online form | Appendix 3A.3 |
Notification of +Security consolidation or split |
_________________________________________________________________________________
+Rule 3.10.1, 3.20.4, 7.18-7.24A, 15.3, Appendix 7A section 7.
Appendix 3A.3
Notification of +security consolidation or split
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Please note that two or more corporate actions on the same +security may not run with different record dates if the timetables result in overlapping (but not identical) ex-periods. It is permissible to run different corporate actions with the same record date except in the case of consolidations or splits which cannot run at the same time as any other corporate action for that entity.
If you are an entity incorporated outside Australia, for +securities other than CDIs / depository interests, please obtain and provide an International Securities Identification Number (ISIN) for the class(es) of +securities to be created during your corporate action. The ISIN(s) should be advised in the Further Information section of this form. Further information on this requirement can be found in the Online Forms section of ASX Online for companies.
*Denotes minimum information required for first lodgement of this form.
**Denotes information that must be provided on or before +business day 0 of the relevant Appendix 6A or Appendix 7A timetable.
The balance of the information, where applicable, must be provided as soon as reasonably practicable by the entity.
Part 1 - Entity and announcement details
Question | Question | Answer | |
No. | |||
1.1 | *Name of entity | TOWER LIMITED | |
1.2 | *Registration type and number | ARBN 645941028 | |
One of ABN/ARSN/ARBN/ACN or other registration | |||
type and number (if "other" please specify what type of | |||
registration number has been provided). | |||
1.3 | *ASX issuer code | TWR | |
1.4 | *The announcement is | New announcement | |
Tick whichever is applicable. | Update/amendment to previous | ||
announcement | |||
Cancellation of previous announcement | |||
1.4a | *Reason for update | N/A | |
Mandatory only if "Update" ticked in Q1.4 above. A | |||
reason must be provided for an update. | |||
1.4b | *Date of previous announcement to this | N/A | |
update | |||
Mandatory only if "Update" ticked in Q1.4 above. | |||
1.4c | *Reason for cancellation | N/A | |
Mandatory only if "Cancellation" ticked in Q1.4 above. | |||
1.4d | *Date of previous announcement to this | N/A | |
cancellation | |||
Mandatory only if "Cancellation" ticked in Q1.4 above. | |||
+ See chapter 19 for defined terms | |||
1 December 2019 | Page 1 |
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Tower Limited published this content on 01 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2022 03:47:00 UTC.