REL: 1559 HRS Rakon Limited
GENERAL: RAK: Rakon Limited: Sale & Purchase of Shares by a Director
Rakon Limited: Sale & Purchase of Shares by a Director
Rakon Limited (NZX: RAK) has announced that Peter Maire, director and
shareholder of the company, has regrettably advised of his intention to sell
approximately 1 million of the 12.4 million shares he holds in Rakon. Mr
Maire plans to use the proceeds of this sale to fund other investments he is
involved with. Six hundred thousand of the shares will be purchased by Mr
Bryan Mogridge, Chairman of Rakon. This boosts Mogridge's holding in the
company to just over 1 million shares.
"Over the past 18 months Rakon has focussed on building a truly global
business. My investment is a long term one and reflects my confidence in the
ability of the directors and management to deliver on the platform
established", says Mogridge.
Mogridge was appointed Chairman of Rakon in November 2005 ahead of its public
Rakon is a global technology business, based out of New Zealand, with more
than 800 staff world-wide, and world leader in quartz crystal components used
for timing reference and frequency control in demanding applications, such as
global positioning systems (GPS) and wireless communications.
End CA:00174553 For:RAK Type:GENERAL Time:2008-12-22:15:59:39