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TWR - Tower News Story

NZD0.86 -0.0  -0.6%

Last Trade - 14/05/21

Sector
Financials
Size
Small Cap
Market Cap £185.1m
Enterprise Value £149.7m
Revenue £163.7m
Position in Universe 489th / 1913

BRIEF-Tower Welcomes RBNZ Decision To Confirm Reduction In Minimum Solvency Margin

Wed 17th March, 2021 7:34pm
March 18 (Reuters) - Tower Ltd  TWR.NZ :
    * WELCOMES RBNZ DECISION TO CONFIRM REDUCTION IN MINIMUM
SOLVENCY
MARGIN TO BE HELD BY CO UNDER LICENCE CONDITION TO NZ$25 MILLION
    * REDUCTION RECOGNISES TOWER'S DECREASING RISK RELATED TO
CANTERBURY EARTHQUAKES
    * LICENCE CONDITION WILL BE REVIEWED BY RBNZ IN 12 MONTHS
    * SOLVENCY MARGIN AS AT 30 SEPTEMBER 2020 WAS NZ$140 MILLION

Source text for Eikon:  ID:nNZW3pzg8L 
Further company coverage:  TWR.NZ 

 ((Reuters.Briefs@thomsonreuters.com))
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