Tower update

Tower signs Scheme Implementation Agreement

Tower has entered into a Scheme Implementation Agreement with Fairfax Financial Holdings Limited to acquire 100% of Tower shares at $1.17 per share. To read the full market announcement, please click here.

The agreement

A full copy of the agreement is available here.

Event Indicative timing
9 February 2017

Announcement of proposed transaction

Mid-March 2017

Notice of Meeting and shareholder vote materials expected to be made available
Anticipated receipt of RBNZ approval

April 2017

Shareholder meeting and vote


Anticipated receipt of Overseas Investment Act (business acquisition) approval
Anticipated receipt of final High Court approval

May – June 2017 Implementation and closing of transaction

Customer questions and answers

  • Is my insurance still valid? Yes
  • What do I need to do with my insurance? Nothing
  • If Tower is sold, will I still be covered? Yes
  • Who can I speak to for more information?
    • For shareholder enquiries please contact Computershare or your financial advisor
    • For customer enquiries, please call us on 0800 379 372

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