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TOWER Ltd (TWR.NZ)

TWR.NZ on New Zealand Stock Exchange

1.30NZD
24 Mar 2017
Change (% chg)

$-0.01 (-0.76%)
Prev Close
$1.31
Open
$1.30
Day's High
$1.30
Day's Low
$1.30
Volume
131,935
Avg. Vol
654,086
52-wk High
$1.86
52-wk Low
$0.69

Latest Key Developments (Source: Significant Developments)

Suncorp Group says acquires 11.14 pct of ordinary shares in Tower
Tuesday, 21 Feb 2017 05:08pm EST 

Suncorp Group Ltd : Suncorp New Zealand acquires 11.14% of ordinary shares in Tower Limited in New Zealand . Standing in market to acquire up to 19.9% of shares in Tower .Proposed acquisition would help in creating a business with gross written premiums of NZ$1.6 billion.  Full Article

Tower confirms that it received a non-binding indicative proposal from Suncorp Group Ltd
Tuesday, 21 Feb 2017 04:34pm EST 

Tower Ltd : Confirms that it has now received a non-binding indicative proposal from Suncorp Group Limited .Suncorp is seeking to acquire all Tower shares at an indicative cash price of nz$1.30 per share.  Full Article

Tower says Vero agreed to purchase 18.8 mln ordinary shares in company
Tuesday, 21 Feb 2017 02:39pm EST 

Tower Ltd :Vero agreed to purchase 18.8 million ordinary shares in tower limited on-market from various holders at a sale price of nz$1.30 per share.  Full Article

Tower notes Suncorp unsolicited off-market share offer
Tuesday, 21 Feb 2017 02:30pm EST 

Tower Ltd : Tower notes Suncorp unsolicited off-market share offer . Suncorp Group acting through UBS, have approached shareholders seeking to initially buy up to a 19.99% stake in Tower . Offer at a fixed price of NZ$1.30 per share, with a view to escalating the offer to 100% of all shares . Board also reiterated that Tower insurance policies and the rights of policy holders remain unaffected . All policies and rights will remain with Tower Insurance Limited in event of a change in ownership of Tower Limited .Tower Chairman Michael Stiassny says board's advice to shareholders was to seek advice and not to sell their shares until board had fully reviewed offer.  Full Article

Tower updates on proposed acquisition by Fairfax Financial
Thursday, 16 Feb 2017 09:31pm EST 

Tower Ltd :Appoints Northington Partners to prepare an independent adviser's report on proposed acquisition of 100 pct of tower shares by Fairfax Financial.  Full Article

Tower says results for quarter ending Dec. 31 2016 remain in line with company's update
Wednesday, 8 Feb 2017 07:44pm EST 

Tower Ltd - : Tower's results for three months ending 31 December 2016 remain in line with company's update on 29 November 2016 . Gross written premium was stable at $77.1 million for three months ended 31 December 2016 .All figures in nz$.  Full Article

Tower says results for quarter ending Dec. 31 2016 remain in line with company's update
Wednesday, 8 Feb 2017 06:27pm EST 

Tower Ltd - : Tower's results for three months ending 31 December 2016 remain in line with company's update on 29 November 2016 . Gross written premium was stable at $77.1 million for three months ended 31 December 2016 .All figures in nz$.  Full Article

Tower Ltd says Zero Commission NZ intends to approach shareholders with offer
Monday, 15 Aug 2016 04:31pm EDT 

TOWER Ltd : Zero Commission NZ Limited - unsolicited offer . Notified by Zero Commission NZ Limited Of its intention to approach Tower shareholders with an unsolicited offer . Says offer to buy Tower shares at $1.26 per share . Offer at an 8 pct discount to the market price at close of trading on 10 August 2016 of $1.37 per share . All figures in NZ$ .  Full Article

Tower Ltd announces resignation of Brett Wilson as CFO
Monday, 18 Jul 2016 04:30pm EDT 

TOWER Ltd : Resignation of CFO . Resignation of Brett Wilson, chief financial officer. . Commenced executive search, with brett to remain in role until appointment of a new CFO is finalised .  Full Article

Tower Ltd announces share buy back
Tuesday, 2 Jun 2015 07:26pm EDT 

Tower Ltd:Says that on May 26, TOWER Ltd announced that it intended to undertake an on market buy back of up to 17.6 million TOWER shares (representing about 9.99 pct. of TOWER's issued capital as at May 22,) at prevailing market price from time to time on NZSX and ASX.Up to maximum aggregate purchase price of NZ$34 million.Says TOWER proposes to purchase up to 9.99 pct. of its issued shares over the next 12 months, though in order to comply with the limits under the Australian Corporations Act 2001 (Cth) a maximum of 8. pct. % may be purchased before Sept. 12.  Full Article

More From Around the Web

BRIEF-Tower says Suncorp's stake in Tower now reached 19.99 pct

* Understands that Suncorp Group Limited's stake in tower has now reached 19.99% of shares