Tower (ASX:TWR) has issued 1,946,557 unlisted share rights under its Long Term Incentive Plan to key employees as a form of incentive and retention.

The share rights are issued with no cash consideration and convert on a 1:1 basis for nil cash consideration into fully paid ordinary shares, subject to the performance of Tower Limited’s Total Shareholder Return relative to that of the entities comprising the NZX50 index over a 3 year vesting period ending 6 December 2025, provided that Tower Limited’s Total Shareholder Return is positive.