BRIEF-NZ's Tower opens NZ$70 mln share buyback

WELLINGTON Mon Dec 9, 2013 11:32pm EST

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WELLINGTON Dec 10 (Reuters) - NZ's Tower Ltd

* Offers to buy back 1 in every 5 shares at NZ$1.81 each

* Buyback will return NZ$70 mln to shareholders

* The capital from the sale of the majority of Tower's Life business surplus to capital and business requirements

* Return of capital by way of an off-market, pro rata voluntary share buy back

* Offer closes on Thursday 23 January 2014 Source text for Eikon: Further company coverage: (Gyles Beckford)

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