Forsyth Barr increases stake in Tower Limited to over 6%

Forsyth Barr Investment Management Limited (FBIM) has disclosed a substantial increase in its holding in Tower Limited, with its total percentage held in the company rising from 5.007% to 6.040%. This represents a movement of over 1% in its substantial holding.

The change in relevant interest was triggered by a series of transactions between July 16, 2025, and September 30, 2025. These included on-market purchases totaling NZD2,577,624 for 1,515,146 financial products, on-market sales of NZD1,039,726 for 612,261 financial products, and off-market transfers. Specifically, 3,022,816 financial products were transferred into DIMS, while 387,700 were transferred out.

Following these transactions, FBIM now holds 20,689,297 ordinary shares in Tower Limited, out of a total of 342,552,063 shares in the class. The relevant interest stems from FBIM's role as a provider of discretionary investment management services and manager of managed investment schemes, granting it control over voting rights and disposal of shares.