Tower (TWR) to return capital to shareholders

Tower Limited (NZX:TWR) announced it will return approximately NZD$45 million to shareholders. The scheme involves cancelling one share for every ten held on the record date, Wednesday, March 19, 2025. Shareholders will receive NZ$1.1858 for each cancelled share, with Australian shareholders paid the equivalent in Australian dollars at an exchange rate approved by Tower. Fractions of shares will be rounded to the nearest whole number.