Tower Limited (AU:TWR) has released an update.
New Zealand-based Tower Limited has reissued a corrected Capital Change Notice originally dated March 26, 2024, due to a miscalculation of share rights under the company’s incentive plan. The notice pertains to a significant issuance of 2,612,452 unquoted share rights as part of Tower’s long-term incentive strategy, aiming to align employee interests with shareholder returns. These rights will convert to ordinary shares based on performance metrics tied to the NZX50 index over a three-year period.
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