Rakon Confirms Sale of France Property
29 March 2018
RAKON LIMITED (NZX: RAK)
Rakon today announces the sale of its Argenteuil, France property for a total consideration of EUR 2.7 million, before costs.
Argenteuil had previously been the main operational site for the manufacture of discrete OCXOs, which in recent years has shifted to Centum Rakon India. The property sale has been achieved following a lengthy re-zoning process.
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 HY2019 Preliminary Result Announcement & Investor Presentation
15 November 2018
Rakon Limited (RAK) released its preliminary result announcement for the half year ended 30 September 2018 to the market at around 9.00am on Thursday 15 November 2018. 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.