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

Mid-May
2017


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

You can manage your holdings electronically by using Computershare’s secure website www.investorcentre.com/nz

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