Allotment of new shares under rights offer

1

20 December 2017

Market Information Company Announcements Office
NZX Limited ASX Limited
Level 1, NZX Centre Exchange Centre
11 Cable Street Level 6, 20 Bridge Street
Wellington Sydney NSW 2000
New Zealand Australia



NZX Main Board and Debt Market - Notice pursuant to Listing Rule 7.12.1

(a) Class of Security:
ISIN:
Ordinary shares
NZTWRE0011S2

(b) Number issued: 168,662,150

(c) Issue price: NZ$0.42 per share (A$0.39 per
share)

(d) Whether payment was in cash: Payable in cash

(e) Any amount paid up: Fully paid

(f) Principal terms of the Securities The shares have identical rights,
privileges, limitations and
conditions as, and rank equally
with, the existing ordinary shares

(g) Percentage of the total Class of Securities issued, acquired or
redeemed:
100% of the total number of
shares on issue immediately prior
to the issue of the new shares

(h) Reason for the issue, acquisition or redemption: Allotment pursuant to
renounceable rights offer of 1 new
share for every 1 share held as at
7.00 pm 22 November 2017
(record date)

(i) Specific authority for the issue, acquisition or redemption: Board resolutions dated 13
November 2017

(j) Terms or details of the issue, acquisition or redemption: The new shares will rank equally
in all respects with existing
ordinary shares

(k) Total number of Securities of the Class in existence after the issue: 337,324,300

(l) In the case of an acquisition of shares by an Issuer which is a
company registered under the Companies Act 1993, whether
those shares are to be held as Treasury Stock:
Not applicable

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(m) Dates of issue, acquisition or redemption: 20 December 2017



ENDS


TOWER
Michael Stiassny
Chairman
Tower Limited
ARBN 088 481 234 Incorporated in New Zealand


For media queries, please contact:
Nicholas Meseldzija
Head of Corporate Communications
Mobile: +64 21 531 869
Email: Nicholas.meseldzija@tower.co.nz