NOT PRICE SENSITIVE
REL: 0901 HRS Rakon Limited
DIRECTOR: RAK: Appointment of new Directors to the Rakon Board
10 March 2017
Appointment of new Directors to the Rakon Board
The Board of Rakon Limited (NZX:RAK) is pleased to announce the appointment
of three new Directors to the Board.
Lorraine Witten - Appointed as Independent Director
Lorraine is currently the Chair of Kordia Group Limited, Star Now Limited,
vWork Limited, Soltius Limited and also a Director of WREDA (Wellington
Regional Economic Development Agency). Lorraine is also a founding
shareholder and current Chair of Simply Security Limited, Member of the
Department of Corrections Audit & Risk Committee and previously held numerous
other Board and governance roles.
Keith Oliver - Appointed as Independent Director
Keith is currently a Director of ALTO Capital Limited, Chair of Blackhawk
Tracking Systems Limited and Health Vision (NZ) Limited. Keith is also a
Director of Vigil Monitoring Limited and previously held numerous other Board
and governance roles.
Yin Tang Tseng - Appointed as Director
Yin Tang (Tony) is the current Chairman of Siward Crystal Technology Co.
Limited (Siward). Taiwan based Siward, a world leader of crystal and
oscillator solutions, hold a 16.6% share in Rakon Limited following their
investment in February 2017.
Rakon Chair Bryan Mogridge said, "following an extensive search that
presented a number of high calibre applicants, the Rakon Board is very
pleased to be able to appoint and welcome Lorraine, Keith and Tony.
Individually each brings considerable business and governance experience that
enhances the Rakon Board".
All three Directors have been appointed under a casual vacancy and will put
themselves forward for election by shareholders' at the next annual meeting.
Chair of Rakon Limited
Simon Bosley (CFO)
09 571 9206
Rakon is a global high technology company and a world leader in its field.
The company designs and manufactures advanced frequency control and timing
solutions for telecommunications, global positioning and space and defence
applications. Rakon products are found at the forefront of communications
where speed and/or reliability are paramount. The company's products provide
extremely accurate clocking signals, which are then used to generate precise
electrical, radio or optical signals in networks and systems around the
globe. Rakon has four manufacturing plants including two joint venture plants
and has five research and development centres. Customer support centres are
located in ten offices worldwide.
Rakon is proud of its New Zealand heritage; it was founded in Auckland in
1967. It is a public company listed on the New Zealand stock exchange, NZSX,
ticker code RAK.
End CA:00298079 For:RAK Type:DIRECTOR Time:2017-03-10 09:01:17