REL: 0830 HRS Rakon Limited
GENERAL: RAK: Rakon Response to Shareholder Correspondence
28 May 2020
Rakon (RAK) Response to Shareholder Correspondence
The Directors of Rakon have received a letter dated 28 April 2020 from
shareholder Mike Daniels which he states represents the views of
approximately 14 % of Rakon shareholders.
The letter makes a number of comments and calls for the Board to initiate a
process to market the company to the international investing community. A
copy of the letter is provided with this release.
The Board advises that neither of Rakon's substantial quoted equity security
holders, the Robinson Family and Siward Crystal Technology Co. Limited, have
supported this initiative.
Chair of the Board, Bruce Irvine confirms the Rakon Board will consider the
matters raised in the letter.
+64 9 571 9238
Rakon is a global high technology company and a world leader in its field.
The company designs and manufactures advanced frequency control and timing
solutions. Its three core markets are Telecommunications, Global Positioning
and Space and Defence. Rakon products are found at the forefront of
communications where speed and reliability are paramount. The company's
products create extremely accurate electric signals which are used to
generate radio waves and synchronise time in the most demanding communication
applications. Rakon has three manufacturing plants, and has six research and
development centres. Customer support personnel are located in fifteen
offices worldwide. Rakon is proud of its New Zealand heritage; it was founded
in Auckland in 1967. It is a public company listed on the New Zealand stock
exchange, NZX, ticker code RAK.
End CA:00353890 For:RAK Type:GENERAL Time:2020-05-29 08:30:56