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TOWER LIMITED — Capital/Financing Update 2015
Jun 23, 2015
65971_rns_2015-06-23_d0a4ee99-fe3f-4e2b-ab74-aa05de0eb12b.pdf
Capital/Financing Update
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24 June 2015
Market Information Company Announcements Office NZX Limited Australian Securities Exchange Limited Level 2, NZX Centre Exchange Centre 11 Cable Street Level 6, 20 Bridge Street Wellington Sydney NSW 2000 New Zealand Australia
TOWER advises impact of recent storm event
TOWER Limited (NZX/ASX: TWR) said today that it has received more than 200 claims related to the recent storm that affected the west coasts of the upper South Island and the lower North Island.
Chief Executive Officer David Hancock said that TOWER was working hard to assist impacted customers, bringing in extra assessors and claims staff to help get people back into their homes as quickly as possible.
TOWER anticipates the financial impact of the storm to be between $2.6m and $5.8m after tax. The financial impact of the event has been reduced by the reinsurance programme, which limits the potential impact to $5.8m after tax.
The safety of customers is TOWER’s top priority, and those requiring assistance should call TOWER on 0800 379 372 to lodge a claim, or visit www.tower.co.nz to lodge a claim online.
ENDS
For investor queries, please contact: Brett Wilson Chief Financial Officer TOWER Limited Mobile: +64 21 616 035 ARBN 088 481 234 Incorporated in New Zealand
For media queries, please contact: Tracey Palmer Head of Corporate Communications Mobile: +64 21 837 860 Email: [email protected]