Tower Limited has received final orders from the High Court on 1 March 2022 to approve the return of approximately NZ$30.4 million of capital to its shareholders.
This is to be done by way of a scheme of arrangement under Part 15 of the Companies Act 1993, which involves Tower’s shareholders having one (1) share cancelled for every ten (10) shares held on the record date and receiving a cash sum of NZ$0.72 for each share cancelled.
The record date for the scheme is 8 March 2022, with the payment to be made by Computershare by 22 March 2022.
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