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TOWER LIMITED Major Shareholding Notification 2016

Sep 14, 2016

65971_rns_2016-09-14_94ff2ef7-9e99-465c-9730-fb80161a6032.pdf

Major Shareholding Notification

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Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme

TOWER LIMITED (TWR)

ACN/ARSN

ARBN 088 481 234

1. Details of substantial holder(1)

Name

WESTPAC BANKING CORPORATION (WBC) and its associated entities listed in Annexure ‘B’

ACN/ARSN (if applicable)

ACN 007 457 141

There was a change in the interests of the substantial holder on

substantial holder on 13/09/2016 The previous notice was given to the company on 15/12/2015 The previous notice was dated 10/12/2015

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(5) Person’s votes VotingPower(5)
ORDINARY
SHARES
12,800,550 7.53% 10,854,312 6.44%

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
13/09/2016 WBC & its Associates , BT
Funds Management Limited,
BT Funds Management (NZ)
Limited
See
Annexure
'A'
See
Annexure
'A'
See
Annexure
'A'
See
Annexure
'A'

Page 1 of 8

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
BT Funds
Management (NZ)
Limited
Guardian
Nominees No.2
Ltd
Guardian
Nominees No.2
Ltd
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.
10,854,312,
Ordinary
10,854,312

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 substantial 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 ofpersons named in this form are as follows:
Name Address
Westpac Banking Corporation (WBC) Level 20, Westpac Place, 275 Kent Street, Sydney
NSW 2000
BT Funds Management (NZ) Limited Westpac On Takutai Square 16 Takutai Square
Auckland 1010 New Zealand
BT Funds Management Limited Level 20, Westpac Place, 275 Kent Street, Sydney
NSW 2000
TOWER LIMITED (TWR) The Company Secretary,
TOWER LIMITED (TWR)
Level 14, Tower Centre, 45 Queen Street
AUCKLAND NEW ZEALAND
Tel: +64 9 369 2000

Signature

Print name
Sign here
Tim Hartin
CapacityCompanySecretary
Date
15/09/2016

Page 2 of 8

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DIRECTIONS
(1) If there are a number of substantial holders with similar or related relevant interests (e.g. 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 6
of the form.
(2) See the definition of “associate” in section 9 of the Corporations Act 2001.
(3) See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations Act 2001.
(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 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).
See the definition of “relevant agreement” in section 9 of the Corporations Act 2001.
(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 (e.g. 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.
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Page 3 of 8

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 – 15/09/2016

TRANSACTION HISTORY

Sales & Purchases for the period : 11/12/2015 to 13/09/2016 SECURITY: TWR

BT Funds Management Limited BT Funds Management Limited
Date Registered Company Nature of
Change
Quantity Consideration Class of
Securities
Person’s
votes affected
5/09/2016 BT Portfolio Services Limited Sale -603 -747.54 Ordinary 603
6/09/2016 BT Portfolio Services Limited Sale -4,147 -5,391.10 Ordinary 4,147
Total -4,750 -6,138.64
BT Funds Management Limited Total : -4,750 -6,138.64
BT Funds Management (NZ) Limited
Date Registered Company Nature of
Change
Quantity Consideration Class of
Securities
Person’s
votes affected
18/12/2015 Guardian Nominees No.2 Ltd Sale -120,000 -226,800.00 Ordinary 120,000
18/12/2015 Guardian Nominees No.2 Ltd Sale -80,000 -151,200.00 Ordinary 80,000
28/01/2016 Guardian Nominees No.2 Ltd Sale -40,000 -72,800.00 Ordinary 40,000
28/01/2016 Guardian Nominees No.2 Ltd Sale -10,000 -18,200.00 Ordinary 10,000
29/01/2016 Guardian Nominees No.2 Ltd Sale -35,000 -63,875.00 Ordinary 35,000
29/01/2016 Guardian Nominees No.2 Ltd Sale -10,500 -19,162.50 Ordinary 10,500
29/04/2016 Guardian Nominees No.2 Ltd Sale -220,500 -396,900.00 Ordinary 220,500
29/04/2016 Guardian Nominees No.2 Ltd Sale -39,000 -70,200.00 Ordinary 39,000
29/04/2016 Guardian Nominees No.2 Ltd Sale -40,500 -72,900.00 Ordinary 40,500
23/05/2016 Guardian Nominees No.2 Ltd Sale -110,900 -197,402.00 Ordinary 110,900
23/05/2016 Guardian Nominees No.2 Ltd Purchase 1,299,396 2,299,930.92 Ordinary 1,299,396
23/05/2016 Guardian Nominees No.2 Ltd Sale -18,000 -32,040.00 Ordinary 18,000
23/05/2016 Guardian Nominees No.2 Ltd Sale -21,100 -37,558.00 Ordinary 21,100
26/05/2016 Guardian Nominees No.2 Ltd Sale -7,002 -10,362.96 Ordinary 7,002
27/05/2016 Guardian Nominees No.2 Ltd Purchase 387,600 564,384.36 Ordinary 387,600
27/05/2016 Guardian Nominees No.2 Ltd Sale -105,994 -156,871.12 Ordinary 105,994
27/05/2016 Guardian Nominees No.2 Ltd Purchase 64,600 94,064.06 Ordinary 64,600
27/05/2016 Guardian Nominees No.2 Ltd Purchase 64,600 94,064.06 Ordinary 64,600
3/06/2016 Guardian Nominees No.2 Ltd Sale -99,334 -152,477.69 Ordinary 99,334
8/06/2016 Guardian Nominees No.2 Ltd Sale -45,152 -69,759.84 Ordinary 45,152
16/06/2016 Guardian Nominees No.2 Ltd Sale -189,638 -273,078.72 Ordinary 189,638
15/07/2016 Guardian Nominees No.2 Ltd Purchase 300,000 393,000.00 Ordinary 300,000
15/07/2016 Guardian Nominees No.2 Ltd Sale -418,896 -551,183.36 Ordinary 418,896
15/07/2016 Guardian Nominees No.2 Ltd Purchase 70,000 91,700.00 Ordinary 70,000

Page 4 of 8

15/07/2016 Guardian Nominees No.2 Ltd Purchase 60,000 78,600.00 Ordinary 60,000
9/08/2016 Guardian Nominees No.2 Ltd Purchase 1,820,590 2,485,105.35 Ordinary 1,820,590
9/08/2016 Guardian Nominees No.2 Ltd Sale -1,820,590 -2,485,105.35 Ordinary 1,820,590
11/08/2016 Guardian Nominees No.2 Ltd Sale -8,231 -11,253.42 Ordinary 8,231
16/08/2016 Guardian Nominees No.2 Ltd Purchase 1,580,529 2,149,519.44 Ordinary 1,580,529
16/08/2016 Guardian Nominees No.2 Ltd Sale -12,654 -17,315.73 Ordinary 12,654
16/08/2016 Guardian Nominees No.2 Ltd Sale -1,580,529 -2,149,519.44 Ordinary 1,580,529
18/08/2016 Guardian Nominees No.2 Ltd Sale -18,147 -24,861.39 Ordinary 18,147
23/08/2016 Guardian Nominees No.2 Ltd Sale -23,009 -31,292.24 Ordinary 23,009
1/09/2016 Guardian Nominees No.2 Ltd Sale -17,256 -23,295.60 Ordinary 17,256
6/09/2016 Guardian Nominees No.2 Ltd Sale -11,504 -15,645.44 Ordinary 11,504
7/09/2016 Guardian Nominees No.2 Ltd Sale -37,883 -51,581.49 Ordinary 37,883
8/09/2016 Guardian Nominees No.2 Ltd Sale -253,591 -266,270.55 Ordinary 253,591
8/09/2016 Guardian Nominees No.2 Ltd Sale -16,000 -17,760.00 Ordinary 16,000
8/09/2016 Guardian Nominees No.2 Ltd Sale -24,000 -27,000.00 Ordinary 24,000
8/09/2016 Guardian Nominees No.2 Ltd Sale -24,376 -27,423.00 Ordinary 24,376
8/09/2016 Guardian Nominees No.2 Ltd Sale -16,250 -18,037.50 Ordinary 16,250
8/09/2016 Guardian Nominees No.2 Ltd Sale -257,553 -270,430.65 Ordinary 257,553
8/09/2016 Guardian Nominees No.2 Ltd Sale -85,612 -95,029.32 Ordinary 85,612
8/09/2016 Guardian Nominees No.2 Ltd Sale -1,356,909 -1,424,754.45 Ordinary 1,356,909
8/09/2016 Guardian Nominees No.2 Ltd Sale -128,418 -144,470.25 Ordinary 128,418
8/09/2016 Guardian Nominees No.2 Ltd Sale -21,408 -24,139.66 Ordinary 21,408
8/09/2016 Guardian Nominees No.2 Ltd Sale -19,804 -22,332.97 Ordinary 19,804
8/09/2016 Guardian Nominees No.2 Ltd Sale -153,563 -165,848.04 Ordinary 153,563
9/09/2016 Guardian Nominees No.2 Ltd Sale -10,000 -11,150.00 Ordinary 10,000
9/09/2016 Guardian Nominees No.2 Ltd Sale -12,000 -13,380.00 Ordinary 12,000
9/09/2016 Guardian Nominees No.2 Ltd Sale -68,000 -75,820.00 Ordinary 68,000
Total -1,941,488 -1,736,119.49
BT Funds Management (NZ) Limited Total : -1,941,488 -1,736,119.49

Page 5 of 8

ANNEXURE B – ASSOCIATED COMPANIES

This is annexure ‘B ’ (being 3 pages) 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 – 15/09/2016

Westpac Banking Corporation Australia Series 2011-3 WST Trust Australia
1925 (Commercial) Pty Limited Australia Series 2012-1 WST Trust Australia
1925 (Industrial) Pty Limited Australia Series 2013-1 WST Trust Australia
1925 Advances Pty Limited Australia Series 2013-2 WST Trust Australia
A.G.C. (Pacific) Limited Papua New Guinea Series 2014-1 WST Trust Australia
Advance Asset Management Limited Australia Series 2014-2 WST Trust Australia
Altitude Administration Pty Limited Australia Series 2015-1 WST Trust Australia
Altitude Rewards Pty Limited Australia SIE-Lease (Australia) Pty Limited Australia
Aotearoa Financial Services Limited New Zealand SIE-Lease (New Zealand) Pty Limited New Zealand
Ascalon Capital Managers (Asia) Limited Hong Kong Sixty Martin Place (Holdings) Pty Limited Australia
Ascalon Capital Managers Limited Australia St.George Business Finance Pty Limited Australia
Ascalon Funds Seed Pool Trust Australia St.George Custodial Pty Limited Australia
Asgard Capital Management Limited Australia St.George Equity Finance Limited Australia
Asgard Wealth Solutions Limited Australia St.George Finance Holdings Limited Australia
Australian Loan Processing Security Company Pty
Ltd Australia St.George Finance Limited Australia
Australian Loan Processing Security Trust Australia St.George Life Limited Australia
Belliston Pty Limited Australia St.George Motor Finance Limited Australia
Bill Acceptance Corporation Pty Limited Australia St.George Security Holdings Pty Limited Australia
BT (Queensland) Pty Limited Australia Sydney Capital Corp Inc. USA
BT Australia Pty Limited Australia Tavarua Funding Trust IV USA
BT Financial Group (NZ) Limited New Zealand The Home Mortgage Company Limited New Zealand
BT Financial Group Pty Limited Australia The Mortgage Company Pty Limited Australia
BT Funds Management (NZ) Limited New Zealand Value Nominees Pty Limited Australia
BT Funds Management Limited Australia W2 Investments Pty Limited Australia
BT Funds Management No.2 Limited Australia Waratah Receivables Corp Pty Limited Australia
BT Long Term Income Fund Australia Waratah Securities Australia Limited Australia
BT Portfolio Services Limited Australia Westpac (NZ) Investments Limited New Zealand
BT Private Nominees Pty Limited Australia Westpac Administration Pty Limited Australia
BT Securities Limited Australia Westpac Administration 2 Limited Australia
BT Short Term Income Fund Australia Westpac Administration 3 Limited Australia
Canning Park Capital Pte. Ltd Australia Westpac Administration 4 Limited Australia
Capital Corporate Finance Limited Australia Westpac Altitude Rewards Trust Australia
Capital Finance (NZ) Limited Australia Westpac Americas Inc. USA
Capital Finance Australia Limited Australia Westpac Asian Lending Pty Limited Australia
Papua New
Capital Finance New Zealand Limited Australia Westpac Bank-PNG-Limited Guinea
Capital Fleetlease Limited Australia Westpac Capital Holdings Inc. USA
Capital Motor Finance Limited Australia Westpac Capital Markets Holding Corp. USA
Capital Rent Group Limited New Zealand Westpac Capital Markets LLC USA
CBA Limited Australia Westpac Capital Trust IV USA
Challenge Limited Australia Westpac Capital-NZ-Limited New Zealand

Page 6

Crusade ABS Series 2012 - 1 Trust Australia Westpac Cash PIE Fund Australia
Crusade ABS Series 2013 - 1 Trust Australia Westpac Cook Cove Trust I Australia
Crusade ABS Series 2015 - 1 Trust Australia Westpac Cook Cove Trust II Australia
Crusade ABS Series 2016 - 1 Trust Australia Westpac Covered Bond Trust Australia
Crusade CP Management Pty Limited Australia Westpac Custodian Nominees Pty Limited Australia
Crusade CP No.1 Pty Limited Australia Westpac Databank Pty Limited Australia
Crusade CP Trust No. 53 Australia Westpac Debt Securities Pty Limited Australia
Crusade CP Trust No. 56 Australia Westpac Delta LLC USA
Crusade CP Trust No. 57 Australia Westpac Direct Equity Investments Pty Limited Australia
Crusade CP Trust No. 58 Australia Westpac Equipment Finance Limited Australia
Crusade Euro Trust 1E of 2006 Australia Westpac Equity Holdings Pty Limited Australia
Crusade Euro Trust 1E of 2007 Australia Westpac Equity Investments NZ Limited New Zealand
Crusade Global Trust 1 of 2007 Australia Westpac Equity Pty Limited Australia
Crusade Global Trust 2 of 2006 Australia Westpac Europe Limited UK
Crusade Management Limited Australia Westpac Finance (HK) Limited Hong Kong
Crusade 2P Trust of 2008 Australia Westpac Financial Consultants Limited Australia
Danaby Pty Limited Australia Westpac Financial Holdings Pty Limited Australia
eQR Securities Pty. Limited Australia Westpac Financial Services Group Limited Australia
Europe Infrastructure Debt LP UK Westpac Financial Services Group-NZ-Limited New Zealand
General Credits Pty Limited Australia Westpac Financial Services Limited Australia
Halcyon Securities Pty Limited Australia Westpac Funding Holdings Pty Limited Australia
Hastings Advisers LLC USA Westpac Funds Financing Holdco Pty Limited Australia
Hastings Forestry Investments Limited New Zealand Westpac Funds Financing Pty Limited Australia
Hastings Forests Australia Pty Limited Australia Westpac General Insurance Limited Australia
Hastings Funds Management (UK) Limited Singapore Westpac General Insurance Services Limited Australia
Hastings Funds Management (USA) Inc. UK Westpac Global Capital Markets Pty Limited Australia
Hastings Funds Management Asia Pty. Limited USA Westpac Group Investment-NZ-Limited New Zealand
Hastings Funds Management Limited Australia Westpac Holdings-NZ-Limited New Zealand
Hastings Infrastructure 1 Limited UK Westpac Investment Capital Corporation USA
Hastings Infrastructure 2 Limited UK Westpac Investment Vehicle No.2 Pty Limited Australia
Hastings Investment Capital LP USA Westpac Investment Vehicle No.3 Pty Limited Australia
Hastings Investment Management (Europe) Ltd USA Westpac Investment Vehicle Pty Limited Australia
Hastings Investment Management Pty Ltd UK Westpac Leasing Nominees-Vic.-Pty Limited Australia
Hastings Investments GP LLC Australia Westpac Lenders Mortgage Insurance Limited Australia
Hastings Korea Company Limited Korea Westpac Life Insurance Services Limited Australia
Hastings Management Pty Limited Australia Westpac Life-NZ-Limited New Zealand
Hastings Private Equity Fund IIA Pty Limited Australia Westpac New Zealand Group Limited New Zealand
Hickory Trust Australia Westpac New Zealand Limited New Zealand
Westpac New Zealand Staff Superannuation Scheme
Hitton Pty Limited Australia Trustee Limited New Zealand
HLT Custodian Trust New Zealand Westpac Nominees-NZ-Limited New Zealand
Infrastructure GP LLP UK Westpac Notice Saver PIE Fund Australia
Infrastructure GP 2 LLP UK Westpac NZ Covered Bond Holdings Limited New Zealand
Infrastructure Research and Advisory Services
Private Limited India Westpac NZ Covered Bond Limited New Zealand
Magnitude Group Pty Limited Australia Westpac NZ Operations Limited New Zealand
MIF Custodian Trust New Zealand Westpac NZ Securitisation Holdings Limited New Zealand

Page 7

Mortgage Management Pty Limited Australia Westpac NZ Securitisation Limited New Zealand
Net Nominees Limited Australia Westpac NZ Securitisation No. 2 Limited New Zealand
Number 120 Limited New Zealand Westpac Overseas Holdings No. 2 Pty Limited Australia
Oniston Pty Limited Australia Westpac Overseas Holdings Pty Limited Australia
Partnership Pacific Pty Limited Australia Westpac Properties Limited Australia
Partnership Pacific Securities Pty Limited Australia Westpac RE Limited Australia
Pashley Investments Pty Limited Australia Westpac Securities Administration Limited Australia
Planwise AU Pty Limited Australia Westpac Securities Limited Australia
Qvalent Pty Limited Australia Westpac Securities NZ Limited New Zealand
RAMS Financial Group Pty Limited Australia Westpac Securitisation Holdings Pty Limited Australia
Reinventure Fund ILP Australia Westpac Securitisation Management Pty Limited Australia
Reinventure Fund II ILP Australia Westpac Singapore Limited Singapore
RMS Warehouse Trust 2007-1 Australia Westpac Structured Products Limited Australia
Sallmoor Pty Limited Australia Westpac Superannuation Nominees-NZ-Limited New Zealand
Securitor Financial Group Limited Australia Westpac Syndications Management Pty Limited Australia
Seed Pool Trust No. 2 Australia Westpac Term PIE Fund New Zealand
Series 2008-1M WST Trust Australia Westpac TPS Trust Australia
Series 2009-1 WST Trust Australia Westpac Unit Trust Australia
Series 2011-1 WST Trust Australia Westpac USA Inc. USA
Series 2011-2 WST Trust Australia

Note: Westpac retains 30.0% ownership of BT Investment Management Limited who lodges separate notices under ASX code ‘BTT’

BT Investment Management Limited (30.0%)

BT Investment Management (Institutional) Limited (Subsidiary of BT Investment Management Limited)

Australia Australia

Page 8