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TOWER LIMITED Major Shareholding Notification 2014

Aug 20, 2014

65971_rns_2014-08-20_c1af458f-2cfd-49e4-bf22-e534e03c0a05.pdf

Major Shareholding Notification

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Form 604

Corporations Law Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme ACN/ARSN

TOWER LIMITED (TWR)

ARBN 088 481 234

1. Details of substantial holder(1)

Name

WESTPAC BANKING CORPORATION (WBC) and its associated companies listed in Annexure ‘A’

ACN/ARSN (if applicable)

ACN 007 457 141

There was a change in the interests of the substantial holder on 19/08/2014 The previous notice was given to the company on 03/03/2014 The previous notice was dated 27/02/2014

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice in the company or scheme, are as follows:

Class of securities (4) Previous Notice Previous Notice Present Notice Present Notice
Person’s votes VotingPower Person’s votes VotingPower(5)
ORDINARY
SHARES
13,509,293 7.58% 15,920,483 8.94%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change Person whose relevant interest
changed
Nature of
change (6)
Consideration
given in
relation to
change(7)
Class and
number of
securities
affected
Person’s
votes
affected
19/08/2014 WBC & its Associates ,
Asgard Capital Management
Limited, BT Funds
Management (NZ) Limited
and BT Investment
Management (Institutional)
Limited
See
Annexure
‘A’
See
Annexure
‘A’
See
Annexure
‘A’
See
Annexure
‘A’

Page 1

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant
interest
Registered
holder of
securities
Person entitled
to be registered
as holder(8)
Nature of relevant
interest (6)
Class and
Number of
securities
Person’s votes
Asgard Capital
Management Limited
Asgard Capital
Management
Limited
Asgard Capital
Management
Limited
Asgard Capital
Management
Limited ABN 92
009 279 592 AFSL
240695 RSE
Licence L0001946
is the trustee,
administrator and
custodian of all
Asgard
superannuation
entities, the
(Hillross)
PortfolioCare
Retirement Plan
and the BEACON
Superannuation
Plan. In those
capacities, Asgard
has the power to
exercise the right
to vote attached to,
and to dispose of,
the securities held
bythese entities.
202
Ordinary
202
BT Funds Management
(NZ) Limited
HSBC Custody
Nominees
(Australia)
Limited.
BTNZ Unit
Trusts
Nominees Ltd
Guardian
Nominees No. 2
Limited
BT Funds
Management (NZ)
Limited is the
manager of various
superannuation
funds, institutional
investor portfolios
and unit trusts and,
in that capacity,
can exercise the
power to vote or
dispose of the
shares.
14,170,281
Ordinary
14,170,281
BT Investment
Management
(Institutional) Limited
HSBC Custody
Nominees
(Australia)
Limited.
BT Portfolio
Services
Limited
Citicorp
Nominees Pty
Limited
HSBC Custody
Nominees
(Australia)
Limited.
BT Investment
Management
(Institutional)
Limited
(previously known
as BT Investment
Management (RE)
Limited) is the
fund manager of
various
superannuation
funds, institutional
investor portfolios
and unit trusts and,
in that capacity,
can exercise the
power to vote or
dispose of the
shares.
1,750,000
Ordinary
1,750,000

Page 2

5. Changes in association

The persons who have become associates (2) of, or ceased to be associates of, or have changed the nature of their association (9) with, the holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of association 6. Addresses The addresses of persons named in this form are as follows: Name Address Westpac Banking Corporation (WBC) Level 20, Westpac Place, 275 Kent St, Sydney NSW 2000 Asgard Capital Management Limited Level 20, Westpac Place, 275 Kent Street, Sydney NSW 2000 BT Investment Management (Institutional) Level 14, Chifley Tower, 2 Chifley Square Limited SYDNEY NSW 2000 BT Funds Management (NZ) Limited Level 15, PWC Tower, 188 Quay Street, Auckland, New Zealand TOWER LIMITED (TWR) The Company Secretary, TOWER LIMITED (TWR) Level 11, Tower Centre, 22 Fanshawe Street AUCKLAND NEW ZEALAND Tel: +64 9 369 2000 Fax: +64 9 369 2160 Signature print name Tim Hartin capacity Company Secretary sign here date 19/08/2014

Page 3

  • DIRECTIONS

  • (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6of the form.

  • (2) See the definition of “associate” in section 9 of the Corporations Law.

  • (3) See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations Law.

  • (4) The voting shares of a company constitute one class unless divided into separate classes.

  • (5) The person’s votes divided by the total votes in the body corporate scheme multiplied by 100.

  • (6) Include details of: (a) Any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and with a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

  • (b) Any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

  • (7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

  • (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write “unknown”.

  • (9) Give details, if appropriate, of the present association and any changes in that association since the last substantial holding notice.

Page 4

ANNEXURE A

This is annexure ‘A’ referred to in Form 604, Notice of change of interests of substantial holder, lodged for Westpac Banking Corporation ACN 007 457 141 and its associated entities.

Tim Hartin – Company Secretary, Westpac Banking Corporation - 19/08/2014

TRANSACTION HISTORY

Sales & Purchases for the period : 28/02/2014 to 19/08/2014

SECURITY: TWR

Asgard Capital Management Limited Asgard Capital Management Limited
Date Registered Company Nature of
Change
Quantity Consideration Class of
Securities
Person’s
votes
affected
11/04/2014 ASGARD Capital Management Limited Sale -3,846 -5,461.32 Ordinary 3,846
Total -3,846 -5,461.32
Asgard Capital Management Limited Total : -3,846 -5,461.32

BT Investment Management (Institutional) Limited

Date Registered Company Nature of
Change
Quantity Consideration Class of
Securities
Person’s
votes
affected
19/08/2014 HSBC Custody Nominees (Australia)
Limited.
Purchase 1,750,000 2,940,000.00 Ordinary 1,750,000
Total 1,750,000 2,940,000.00
BT Investment Management (Institutional)
Total :
Limited 1,750,000 2,940,000.00

BT Funds Management (NZ) Limited

Date Registered Company Nature of
Change
Quantity Consideration Class of
Securities
Person’s
votes
affected
4/03/2014 Guardian Nominees No. 2 Ltd Purchase 36,000 57,060.00 Ordinary 36,000
5/03/2014 Guardian Nominees No. 2 Ltd Purchase 80,651 128,009.27 Ordinary 80,651
7/03/2014 Guardian Nominees No. 2 Ltd Purchase 190,471 299,039.47 Ordinary 190,471
11/03/2014 Guardian Nominees No. 2 Ltd Purchase 420,000 659,400.00 Ordinary 420,000
25/03/2014 Guardian Nominees No. 2 Ltd Purchase 72,297 112,783.32 Ordinary 72,297
3/04/2014 Guardian Nominees No. 2 Ltd Purchase 84,000 128,520.00 Ordinary 84,000
3/04/2014 Guardian Nominees No. 2 Ltd Purchase 3,243 4,994.22 Ordinary 3,243
4/04/2014 Guardian Nominees No. 2 Ltd Purchase 14,934 23,192.50 Ordinary 14,934
7/04/2014 Guardian Nominees No. 2 Ltd Purchase 10,000 15,450.00 Ordinary 10,000
8/04/2014 Guardian Nominees No. 2 Ltd Purchase 4,255 6,552.70 Ordinary 4,255
11/04/2014 Guardian Nominees No. 2 Ltd Purchase 117,568 183,076.89 Ordinary 117,568
Total 1,033,419 1,618,078.37

Page 5

Date Registered Company Nature of
Change
Quantity Consideration Class of
Securities
Person’s
votes
affected
4/03/2014 BTNZ Unit Trust Nominees Ltd Purchase 6,000 9,510.00 Ordinary 6,000
4/03/2014 BTNZ Unit Trust Nominees Ltd Purchase 8,000 12,680.00 Ordinary 8,000
5/03/2014 BTNZ Unit Trust Nominees Ltd Purchase 13,442 21,335.14 Ordinary 13,442
5/03/2014 BTNZ Unit Trust Nominees Ltd Purchase 17,922 28,445.80 Ordinary 17,922
7/03/2014 BTNZ Unit Trust Nominees Ltd Purchase 54,400 85,408.00 Ordinary 54,400
7/03/2014 BTNZ Unit Trust Nominees Ltd Purchase 27,200 42,704.00 Ordinary 27,200
11/03/2014 BTNZ Unit Trust Nominees Ltd Purchase 120,000 188,400.00 Ordinary 120,000
11/03/2014 BTNZ Unit Trust Nominees Ltd Purchase 60,000 94,200.00 Ordinary 60,000
3/04/2014 BTNZ Unit Trust Nominees Ltd Purchase 21,000 32,130.00 Ordinary 21,000
4/07/2014 BTNZ Unit Trust Nominees Ltd Sale -50,000 -83,697.01 Ordinary 50,000
4/07/2014 BTNZ Unit Trust Nominees Ltd Sale -50,000 -84,031.75 Ordinary 50,000
7/07/2014 BTNZ Unit Trust Nominees Ltd Sale -50,000 -83,697.01 Ordinary 50,000
7/07/2014 BTNZ Unit Trust Nominees Ltd Sale -50,000 -84,031.75 Ordinary 50,000
8/07/2014 BTNZ Unit Trust Nominees Ltd Sale -100,000 -167,394.02 Ordinary 100,000
8/07/2014 BTNZ Unit Trust Nominees Ltd Sale -100,000 -168,063.50 Ordinary 100,000
15/07/2014 BTNZ Unit Trust Nominees Ltd Sale -75,000 -125,545.51 Ordinary 75,000
15/07/2014 BTNZ Unit Trust Nominees Ltd Sale -75,000 -126,047.63 Ordinary 75,000
15/07/2014 BTNZ Unit Trust Nominees Ltd Sale -67,798 -113,489.79 Ordinary 67,798
15/07/2014 BTNZ Unit Trust Nominees Ltd Sale -67,799 -113,945.37 Ordinary 67,799
21/07/2014 BTNZ Unit Trust Nominees Ltd Sale -10,000 -16,739.40 Ordinary 10,000
21/07/2014 BTNZ Unit Trust Nominees Ltd Sale -10,000 -16,806.35 Ordinary 10,000
28/07/2014 BTNZ Unit Trust Nominees Ltd Sale -10,375 -17,367.13 Ordinary 10,375
28/07/2014 BTNZ Unit Trust Nominees Ltd Sale -10,375 -17,436.59 Ordinary 10,375
31/07/2014 BTNZ Unit Trust Nominees Ltd Sale -10,000 -16,739.40 Ordinary 10,000
31/07/2014 BTNZ Unit Trust Nominees Ltd Sale -10,000 -16,806.35 Ordinary 10,000
18/08/2014 BTNZ Unit Trust Nominees Ltd Sale -18,600 -31,135.29 Ordinary 18,600
18/08/2014 BTNZ Unit Trust Nominees Ltd Sale -31,400 -52,771.94 Ordinary 31,400
-468,383 -820,932.85
BT Funds Management (NZ) Limited Total : 565,036 797,145.52

Page 6

ANNEXURE A – ASSOCIATED COMPANIES

This is annexure ‘A’ referred to in Form 604, Notice of change of interests of substantial holder, lodged for Westpac Banking Corporation ACN 007 457 141 and its associated entities.

Tim Hartin – Company Secretary Westpac Banking Corporation – 19/08/2014

Westpac Banking Corporation Australia Packaging Properties 1 Pty Limited Australia
1925 (Commercial) Pty Limited Australia Packaging Properties 2 Pty Limited Australia
1925 (Industrial) Pty Limited Australia Packaging Properties 3 Pty Limited Australia
1925 Advances Pty Limited Australia Partnership Pacific Pty Limited Australia
A.G.C. (Pacific) Limited Papua New
Guinea Partnership Pacific Securities Pty Limited Australia
Advance Asset Management Limited Australia Pashley Investments Pty Limited Australia
Altitude Administration Pty Limited Australia Qvalent Pty Limited Australia
Altitude Rewards Pty Limited Australia RAMS Financial Group Pty Limited Australia
Aotearoa Financial Services Limited New Zealand Reinventure Fund ILP Australia
Ascalon Capital Managers (Asia) Limited Hong Kong RMS Warehouse Trust 2007-1 Australia
Ascalon Capital Managers Limited Australia Sallmoor Pty Limited Australia
Ascalon Funds Seed Pool Trust Australia Securitor Financial Group Limited Australia
Asgard Capital Management Limited Australia Seed Pool Trust No. 2 Australia
Asgard Wealth Solutions Limited Australia Series 2007-1G WST Trust Australia
Australian Loan Processing Security Company Pty Ltd Australia Series 2008-1M WST Trust Australia
Australian Loan Processing Security Trust Australia Series 2009-1 WST Trust Australia
Bella Trust No. 2 Series 2011 - 1 Australia Series 2011-1 WST Trust Australia
Bella Trust No. 2 Series 2011 - 2 Australia Series 2011-2 WST Trust Australia
Bella Trust No. 2 Series 2011 - 3 Australia Series 2011-3 WST Trust Australia
Bella Trust No. 2 Series 2012 - 1 Australia Series 2012-1 WST Trust Australia
Bella Trust No. 2 Series 2010 - 1 Australia Series 2013-1 WST Trust Australia
Bella Trust No. 2 Series 2010 - 2 Australia Series 2013-2 WST Trust Australia
Belliston Pty Limited Australia Series 2014-1 WST Trust Australia
Bill Acceptance Corporation Pty Limited Australia SIE-Lease (Australia) Pty Limited Australia
BLE Capital Investments Pty Limited Australia SIE-Lease (New Zealand) Pty Limited New Zealand
BLE Capital Limited Australia Sixty Martin Place (Holdings) Pty Limited Australia
BLE Development Pty Limited Australia St.George Business Finance Pty Limited Australia
BLE Holdings Pty Limited Australia St.George Custodial Pty Limited Australia
BT (Queensland) Pty Limited Australia St.George Equity Finance Limited Australia
BT Australia Pty Limited Australia St.George Finance Holdings Limited Australia
BT Financial Group (NZ) Limited New Zealand St.George Finance Limited Australia
BT Financial Group Pty Limited Australia St.George Life Limited Australia
BT Funds Management (NZ) Limited New Zealand St.George Motor Finance Limited Australia
BT Funds Management Limited Australia St.George Procurement Management Pty Limited Australia
BT Funds Management No.2 Limited Australia St.George Security Holdings Pty Limited Australia
BT Investment Management (Fund Services) Limited Australia Sydney Capital Corp Inc. USA
BT Investment Management (Institutional) Limited Australia Tavarua Funding Trust IV USA
BT Investment Management Limited Australia Teuton Pty Limited Australia
BT Long Term Income Fund Australia The Home Mortgage Company Limited New Zealand

Page 7

BT Portfolio Services Limited Australia The Mortgage Company Pty Limited Australia
BT Private Nominees Pty Limited Australia The Warehouse Financial Services Limited New Zealand
BT Securities Limited Australia Value Nominees Pty Limited Australia
BT Short Term Income Fund Australia W1 Investments Pty Limited Australia
BTIM UK Limited UK Waratah Receivables Corp Pty Limited Australia
Canning Park Capital Pte. Ltd Australia Waratah Securities Australia Limited Australia
Capital Corporate Finance Limited Australia Westpac (NZ) Investments Limited New Zealand
Capital Finance (NZ) Limited Australia Westpac Administration Pty Limited Australia
Capital Finance Australia Limited Australia Westpac Administration 2 Limited Australia
Capital Finance New Zealand Limited Australia Westpac Administration 3 Limited Australia
Capital Fleetlease Limited Australia Westpac Administration 4 Limited Australia
Capital Motor Finance Limited Australia Westpac Altitude Rewards Trust Australia
Capital Rent Group Limited New Zealand Westpac Americas Inc. USA
Castlereagh Trust Australia Westpac Asian Lending Pty Limited Australia
CBA Limited Australia Westpac Bank of Tonga Tonga
Challenge Limited Australia Westpac Bank Samoa Limited Samoa
Papua New
Core Infrastructure Income Feeder 1 L P UK Westpac Bank-PNG-Limited Guinea
Core Infrastructure Income Feeder 2 L P UK Westpac Capital Holdings Inc. USA
Core Infrastructure Income Master L P UK Westpac Capital Markets Holding Corp. USA
Crusade ABS Series 2012 - 1 Trust Australia Westpac Capital Markets LLC USA
Crusade ABS Series 2013 - 1 Trust Australia Westpac Capital Trust IV USA
Crusade CP Management Pty Limited Australia Westpac Capital-NZ-Limited New Zealand
Crusade CP No.1 Pty Limited Australia Westpac Cash PIE Fund Australia
Crusade CP Trust No. 41 Australia Westpac Cook Cove Trust I Australia
Crusade CP Trust No. 44 Australia Westpac Cook Cove Trust II Australia
Crusade CP Trust No. 48 Australia Westpac Covered Bond Trust Australia
Crusade CP Trust No. 49 Australia Westpac Custodian Nominees Pty Limited Australia
Crusade CP Trust No. 50 Australia Westpac Debt Securities Pty Limited Australia
Crusade CP Trust No. 52 Australia Westpac Delta LLC USA
Crusade CP Trust No. 53 Australia Westpac Direct Equity Investments Pty Limited Australia
Crusade CP Trust No. 54 Australia Westpac Equipment Finance (No.1) Pty Limited Australia
Crusade CP Trust No. 55 Australia Westpac Equipment Finance Limited Australia
Crusade CP Trust No. 56 Australia Westpac Equity Holdings Pty Limited Australia
Crusade CP Trust No. 57 Australia Westpac Equity Investments NZ Limited New Zealand
Crusade CP Trust No. 58 Australia Westpac Equity Pty Limited Australia
Crusade CP Trust No. 60 Australia Westpac Europe Limited UK
Crusade Euro Trust 1E of 2006 Australia Westpac Finance (HK) Limited Hong Kong
Crusade Euro Trust 1E of 2007 Australia Westpac Financial Consultants Limited Australia
Crusade Global Trust 1 of 2005 Australia Westpac Financial Holdings Pty Limited Australia
Crusade Global Trust 1 of 2006 Australia Westpac Financial Services Group Limited Australia
Crusade Global Trust 1 of 2007 Australia Westpac Financial Services Group-NZ-Limited New Zealand
Crusade Global Trust 2 of 2005 Australia Westpac Financial Services Limited Australia
Crusade Global Trust 2 of 2006 Australia Westpac Funding Holdings Pty Limited Australia
Crusade Management Limited Australia Westpac Funds Financing Holdco Pty Limited Australia
Crusade Trust 1A of 2005 Australia Westpac Funds Financing Pty Limited Australia
Crusade 2P Trust of 2008 Australia Westpac General Insurance Limited Australia

Page 8

Danaby Pty Limited Australia Westpac General Insurance Services Limited Australia
eQR Securities Pty. Limited Australia Westpac Global Capital Markets Pty Limited Australia
Europe Infrastructure Debt LP UK Westpac Group Investment-NZ-Limited New Zealand
G.C.L. Investments Pty Limited Australia Westpac Group Investments Australia Pty Limited Australia
General Credit Holdings Pty Limited Australia Westpac Holdings-NZ-Limited New Zealand
General Credits Pty Limited Australia Westpac Investment Capital Corporation USA
Halcyon Securities Pty Limited Australia Westpac Investment Vehicle No.2 Pty Limited Australia
Hastings Advisers LLC USA Westpac Investment Vehicle No.3 Pty Limited Australia
Hastings Forestry Investments Limited New Zealand Westpac Investment Vehicle Pty Limited Australia
Hastings Forests Australia Pty Limited Australia Westpac Investments U.K. Limited UK
Hastings Funds Management (UK) Limited Singapore Westpac Leasing Nominees-Vic.-Pty Limited Australia
Hastings Funds Management (USA) Inc. UK Westpac Lenders Mortgage Insurance Limited Australia
Hastings Funds Management Asia Pty. Limited USA Westpac Life Insurance Services Limited Australia
Hastings Funds Management Limited Australia Westpac Life-NZ-Limited New Zealand
Hastings Group Pty Limited Australia Westpac New Zealand Group Limited New Zealand
Hastings Infrastructure 1 Limited UK Westpac New Zealand Limited New Zealand
Hastings Infrastructure 2 Limited UK Westpac Nominees-NZ-Limited New Zealand
Hastings Investment Capital LP USA Westpac NZ Covered Bond Holdings Limited New Zealand
Hastings Investment Management Pty Ltd USA Westpac NZ Covered Bond Limited New Zealand
Hastings Investment Management (Europe) Ltd UK Westpac NZ Leasing Limited New Zealand
Hastings Investments GP LLC Australia Westpac NZ Operations Limited New Zealand
Hastings Korea Company Limited Korea Westpac NZ Securitisation Holdings Limited New Zealand
Hastings Management Pty Limited Australia Westpac NZ Securitisation Limited New Zealand
Hastings Management Pty Limited India Westpac NZ Securitisation No. 2 Limited New Zealand
Hastings Private Equity Fund IIA Pty Limited Australia Westpac Overseas Holdings No. 2 Pty Limited Australia
Hickory Trust Australia Westpac Overseas Holdings Pty Limited Australia
Hitton Pty Limited Australia Westpac Pacific Limited Partnership Australia
HLT Custodian Trust New Zealand Westpac Properties Limited Australia
Infrastructure GP LLP UK Westpac RE Limited Australia
Infrastructure GP 2 LLP UK Westpac Securities Administration Limited Australia
J O Hambro Capital Management Holdings Limited UK Westpac Securities Limited Australia
J O Hambro Capital Management Limited UK Westpac Securities NZ Limited New Zealand
JOHCM (Singapore) Pte Limited Singapore Westpac Securitisation Holdings Pty Limited Australia
JOHCM (USA) Inc USA Westpac Securitisation Management Pty Limited Australia
Magnitude Group Pty Limited Australia Westpac Singapore Limited Singapore
MIF Custodian Trust New Zealand Westpac Structured Products Limited Australia
Mortgage Management Pty Limited Australia Westpac Superannuation Nominees-NZ-Limited New Zealand
Nationwide Management Pty Limited Australia Westpac Syndications Management Pty Limited Australia
Net Nominees Limited Australia Westpac Term PIE Fund New Zealand
North Ryde Office Trust Australia Westpac TPS Trust Australia
Number 120 Limited New Zealand Westpac Unit Trust Australia
Oniston Pty Limited Australia Westpac USA Inc. USA

Note: Westpac retains 62.1% ownership of BT Investment Management Limited who lodges separate notices under ASX code ‘BTT’ BT Investment Management Limited (62.1%) Australia BT Investment Management (Institutional) Limited (Subsidiary of BT Investment Management Limited) Australia

Page 9