Rakon realises gain on partial sale of Thinxtra investment
12 October 2017
Rakon today announces the sale of 199,242 shares it holds in the Australian internet-of-things (IoT) company, Thinxtra Pty Limited. The total consideration received will be AUD 3.0 million, netting to around AUD 2.8 million after costs.
The sale of shares is conditional upon the completion of Thinxtra’s pre-emptive rights process for all shareholders. This process is expected to conclude by the end of November.
The majority of shares have been sold to new Thinxtra shareholders who missed out on the Thinxtra Series-B capital raising, recently completing as over-subscribed. The new shareholders are institutions having a strategic interest in the IoT.
Rakon will realise a profit on its initial investment of AUD $1.8 million before costs, representing a return on initial investment of 257%.
Rakon's ASM was held on 17 August 2017
Rakon provided a copy of the Notice of Meeting and Explanatory Notes for the annual meeting of shareholders which was held as follows:
Date: Thursday, 17 August 2017
Time: 2.00 pm
Venue: ANZ Viaduct Events Centre
161 Halsey Street
Warren John Robinson retired from the office of director by rotation and chose not to offer himself for re-election.
The Chairman's address and MD presentation are available here
For the Notice of Meeting and Explanatory Notes please click here
Rakon Holds its Global Sales Conference 10−13 July
17 July 2017
High-tech company Rakon held its global sales conference in Asia last week. Regional sales teams, application engineers, business development managers, product managers and core executive management converged from across the world, to discuss new product innovations and key objectives and strategies for the current and next financial periods. New team members were introduced and welcomed.
Rakon and Thinxtra IoT Update
29 June 2017
At a phenomenal pace Thinxtra − backed by cornerstone investor Rakon − has risen from start-up to being a key IoT enabler and network provider in the Asia Pacific region. Thinxtra is rapidly deploying Sigfox’s low cost, Low Power Wide Area Network (LPWAN) technology to enable devices on home appliances, livestock, gas bottles, courier packages and many more applications to relay short messages via the internet to our pc, smart phone or tablet. Smoke alarm battery dead? Gas bottle low? The need for manual checking may soon be a thing of the past.