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[sharechat] Tower Update TWR

From: "Harold J Skinner" <>
Date: Fri, 13 Sep 2002 09:26:53 +1000

Just my thoughts,2106,2047557a13,00.html

Two links above with some TWR news

"In July Tower's former chief executive James Boonzaier announced his
retirement - a move forced on him by the board. "

Something happened for sure! For managers to get the flick quickly  I hope
its not because of spite as is the case with Nick Whitlam! NRMA is called
IAG "Insurance Group Australia". A stormy unagreeable Board room is no good

But if they told them to go they would have done so with replacements in
mind (assuming they know what they are doing)

Westpac takeover thoughts?
Tower have at present a 10% holding cap maximum. Which is to be removed, but
would deter accumulation consideration until it does (Not sure when this is
due? If you know tell me) Tower is only 7% the size of Westpac, growing

I expect Tower to come under takeover pressure only when the 10% market cap
has been removed (It may be now can't remember offhand)

As I have said shares are a "fashion" item and TWR are yet to enter the
parade In the mean time another good profit in a difficult year should
easily jolt the Sydney market into giving these shares a more realistic
Value (at least double today's price)

The other factor is with the market diving in Sydney most money is presently
going into property and right now still booming

 Buying quality shares right now, Historically, should well exceed the money
made on Property market (your Broker advisor should be able to tell
you with more certainty). Also the OZ government want to cool the property
market and is looking for opportunity to raise lending rates

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