Capital Change Notice – Return of Capital to Shareholders

Template
Capital Change Notice

Updated as at 17 October 2019



Section 1: Issuer information
Name of issuer Tower Limited
NZX ticker code Ordinary Shares
Class of financial product TWR
ISIN (If unknown, check on NZX website) NZTWRE0011S2
Currency NZD/AUD
Section 2: Capital change details
Number issued/acquired/redeemed 42,163,271
Nominal value (if any) N/A
Issue/acquisition/redemption price per security NZ$0.72, with shareholders
with an address on the register
in Australia on the record date
receiving A$0.67039128 based
on the NZD/AUD exchange
rate of 0.931099).
Nature of the payment (for example, cash or other
consideration)
Cash
Amount paid up (if not in full) N/A
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number of
Financial Products of the Class, excluding any Treasury Stock,
in existence)
1

9.9997%
For an issue of Convertible Financial Products or Options, the
principal terms of Conversion (for example the Conversion
price and Conversion date and the ranking of the Financial
Product in relation to other Classes of Financial Product) or the
Option (for example, the exercise price and exercise date)
N/A
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Return of capital approved by
the High Court under Part 15
of the Companies Act 1993 on
1 March 2022 and
shareholders at the annual
meeting on 2 February 2022.
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding Treasury
Stock) and the total number of Financial Products of the Class
held as Treasury Stock after the issue/acquisition/redemption.
379,483,987
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Shares subject to the return of
capital will be cancelled.

1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Part 15 of the Companies Act
1993.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
1 ordinary share for every 10
ordinary shares held by
shareholders on 8 March 2022
has been cancelled, with
fractions rounded up or down
to the nearest whole share
(with 0.5 rounded down).
Consideration is payable to
shareholders as set out above
and will be processed by 22
March 2022 in accordance with
the terms of the capital return.
Date of issue/acquisition/redemption
2
09/03/2022
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement
Blair Turnbull
Contact person for this announcement
Emily Davies
Contact phone number
+64 21 815 149
Contact email address
emily.davies@tower.co.nz
Date of release through MAP

09/03/2022




2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).