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Rakon share purchase plan
Media information 22 February 2007
Rakon share purchase plan
Rakon Limited ("RAK") has revealed details of the Share Purchase Plan (SPP) previously announced on 12th February 2007, when details of the proposed acquisition of the Frequency Control Products business of C-MAC Micro Technology was announced.
This acquisition was funded by a share placement to institutional and habitual investors.
Existing eligible shareholders will be able to purchase up to $5000 of shares. The price per share will be set at $4.05, the same price offered to institutional investors at the initial placement.
Funds raised in the SPP will be used to fund further capital expansion.
Rakon’s board wanted to ensure that smaller investors, who had shown strong support for the company since its listing in 2006, were able to participate on the same terms as the institutional and habitual investors under the initial placement.
Brent Robinson, Managing Director said “A lot of smaller investors have been with us since the beginning. In fact, for some of them, it goes back much further and many of them have been part of Rakon’s success over many years. We felt it was important that we find a way for them to be able to benefit from our growth plans.”
Details of the SPP and application form will be sent to eligible shareholders at the beginning of March with the SPP opening on 5th March 2007, and with applications closing on 2nd April 2007. Shares will be allotted and available for trading after 6th April 2007.
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