REL: 1532 HRS Rakon Limited
ALLOT: RAK: Allotment of Share Options
Notice of issue of Share Options
The Board of Rakon Limited has issued 653,620 share options to key
individuals in the company reflecting their seniority and performance
achieved. The share options were awarded under the Rakon Limited Share
Option Scheme established in April 2006 and mean that there are now over 80
employees participating in this scheme. The scheme rules provide for these
options to vest over a three year period and they may only be exercised if
the share price equals or exceeds a benchmark price at the time of exercise.
The benchmark price requires that Rakon's share price increases by a compound
rate of 14% per annum from the date of issue of the share options.
For the purposes of Listing Rule 7.12.1, Rakon Limited, hereby advises the
issue of share options in Rakon Limited under the Rakon Employee Share Option
a. Class of security Options to purchase Rakon Limited Ordinary Shares.
b. Number issued 653,620
c. Nominal Value & Issue Price $4.31 per share.
d. Payment terms Nil payment
e. Amount paid up (if not in full) Not applicable
f. Percentage of class of securities Not applicable
g. Reason for issue Grant of options to key individuals based on
seniority & performance
h. Authority for issue Employee Share Option Scheme
of directors of Rakon Limited.
i. Terms of issue In accordance with the Employee Share Option Scheme.
There are no unusual terms of issue.
j. No. of securities in existence after issue 3,179,717 Options to purchase
Rakon Limited Ordinary Shares.
k. Treasury stock There is no Treasury Stock.
l. Date of Issue 10 August 2007.
End CA:00154161 For:RAK Type:ALLOT Time:2007-09-21:15:32:38