Tower Limited Announces NZ$45 Million Capital Return to Shareholders

Tower Limited ( (AU:TWR) ) just unveiled an update.

Tower Limited has received final court approval to return approximately NZ$45 million to its shareholders through a scheme of arrangement. This capital return involves canceling one share for every ten held and compensating shareholders with NZ$1.1858 per canceled share. The initiative, approved by 99.25% of voting shareholders, is contingent on the company’s compliance with solvency and regulatory requirements. The move is expected to enhance shareholder value and reflects Tower’s robust financial health, potentially strengthening its market position.

More about Tower Limited

Tower Limited is a company based in New Zealand, operating in the insurance industry. It primarily offers insurance products and services, focusing on providing comprehensive coverage to its clients in the region.

YTD Price Performance: 6.96%

Average Trading Volume: 48,051

Technical Sentiment Consensus Rating: Sell

Current Market Cap: A$491.8M

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