Rakon in Discussions for Buy-out of Centum Rakon India
27 February 2018
Rakon today announces that it is in advanced discussions with Centum Electronics Limited (“Centum”) to buy out their 51% shareholding in the India based company Centum Rakon India Private Limited (“CRI”) (“proposed transaction”). Rakon today has a 49% shareholding in CRI, the operation of which is a core part of Rakon’s manufacturing strategy.
Rakon HY2018 Result Announcement & Investor Presentation
16 November 2017
Rakon Limited (RAK) released its preliminary result announcement for the half year ended 30 September 2017 to the market at around 9.00am on Thursday 16 November 2017. This was followed by a presentation by management at 11.00am by teleconference.
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