Key Developments: TOWER Ltd (TWR.NZ)

TWR.NZ on New Zealand Stock Exchange

2.14NZD
30 Jul 2015
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Latest Key Developments (Source: Significant Developments)

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

Tower Ltd announces half-year dividend
Monday, 25 May 2015 04:33pm EDT 

Tower Ltd:Announces half-year dividend of 8.5 cents per share unimputed.Dividend will be paid on June 30 to shareholders on the register on June 12.  Full Article

Tower Ltd appoints new chief financial officer
Tuesday, 17 Mar 2015 06:28pm EDT 

Tower Ltd:Says that it has appointed Brett Wilson as its new chief financial officer.Wilson will start with the company on March 23.  Full Article

Tower Ltd announces final dividend
Wednesday, 26 Nov 2014 08:00pm EST 

Tower Ltd:Announces final dividend of 8.0 cents per share unimputed.Says the final dividend will be paid on Feb. 3, 2015.Payable to shareholders on the register on Jan. 22, 2015.  Full Article

Chief financial officer announces resignation from Tower Ltd
Thursday, 9 Oct 2014 05:06pm EDT 

Tower Ltd:Says that chief financial officer Michael Boggs is to leave Tower in first quarter of 2015.Boggs will remain with Tower until after the company's annual shareholder meeting in Feb.Says that it will begin executive search to replace Boggs, with consideration being given to both internal and external candidates.  Full Article

Tower Ltd completes shareholding buyback scheme
Sunday, 14 Sep 2014 09:00pm EDT 

Tower Ltd:Says that it has completed shareholding buyback scheme, announced on May 27, 2014.Under this scheme, TOWER bought back and cancelled 2,395,681 ordinary shares at NZ$1.72 per share, for a total consideration of $4,120,571.This represents 1.34 pct. of TOWER’s ordinary shares on issue.Says following the cancellation TOWER has 175,749,449 shares on issue.  Full Article

Tower Ltd confirms unconditional sale of residual life business
Sunday, 24 Aug 2014 03:30pm EDT 

Tower Ltd:Confirms that all conditions for the sale of residual life insurance business to Foundation Life (NZ) Holdings Limited (Foundation Life) for NZ$ 36 million have been satisfied.Says sale was announced on July 1.  Full Article

A.M. Best Affirms Ratings of Tower Ltd and subsidiaries
Sunday, 27 Jul 2014 05:00pm EDT 

Tower Ltd:Says A.M. Best has affirmed the financial strength rating of A- and the issuer credit ratings (ICR) of “a-” of TOWER Insurance Limited (TIL) and TOWER Life (N.Z.) Limited (TLNZ).Says A.M. Best also has affirmed the ICR of “bbb-” of the parent holding company, TOWER Limited (TL).Says tThe outlook for all ratings remains negative.Says all companies are domiciled in New Zealand.  Full Article

Tower Ltd sells remaining Life business to Foundation Life
Monday, 30 Jun 2014 05:00pm EDT 

Tower Ltd:Says that it has sold its remaining life business, TOWER Life (N.Z.) Limited to Foundation Life (NZ) Holdings Limited.The aggregate value of the transaction is $36 million.  Full Article

Tower Ltd announces half year dividend
Monday, 26 May 2014 04:33pm EDT 

Tower Ltd:Says board had determined that a half year dividend of 6.5 cents per share (unimputed) appropriately reflected the company’s performance and would be paid for the six months ended March 31, 2014.  Full Article

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