Press Release – Tower Insurance

TOWER Limited (TOWER) has again been advised that Stock & Share Trading Company Pty Limited (Stock & Share Trading) has written to some TOWER shareholders, letter dated 6 November 2012, offering to buy TOWER shares for $1.00 per share. The price offered …Stock & Share Trading – another low ball offer dated 6 November 2012
TOWER Limited (TOWER) has again been advised that Stock & Share Trading Company Pty Limited (Stock & Share Trading) has written to some TOWER shareholders, letter dated 6 November 2012, offering to buy TOWER shares for $1.00 per share. The price offered of $1.00 per share is a substantial discount to the current market price of TOWER shares. The market price of TOWER shares on the NZX was $1.92 per share at close of trading last week.
TOWER understands that Stock & Share Trading is an Australian company, whose sole director and shareholder is John Armour.
Should you as a TOWER shareholder receive such an offer, TOWER strongly recommends that you seek independent advice and check the most recent market price for TOWER shares on the NZX.
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