Capital Change Notice – LTI Plan Issue of Share Rights

Rakon Limited
T +64 9 573 5554
8 Sylvia Park Road, Mt Wellington, Auckland 1060, New Zealand
Private Bag 99943, Newmarket, Auckland 1149, New Zealand
Page 1 of 1 w w w . r a k o n . c o m
© 2021 Rakon Limited. All Rights Reserved. Unauthorised use or publication is expressly prohibited.


17 December 2021

Capital Change Notice – LTI Plan Issue of Share Rights
Rakon Limited (NZX:RAK)) provides the attached capital change notice pursuant to NZX listing rule
3.13.1. This notice relates to the issue of share rights in respect of 718,682 ordinary shares to key
employees. The share rights are being issued pursuant to the Rakon Limited Long Term Incentive
Plan.
-Ends-
Investor contacts:
Brent Robinson
Managing Director
+64 9 573 5554

Anand Rambhai
Chief Financial Officer
+64 9 571 9225

About Rakon
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. Its three core markets are
Telecommunications, Positioning and Space and Defence. Rakon products are found at the forefront
of communications where speed and reliability are paramount. The company’s products create
extremely accurate electric signals which are used to generate radio waves and synchronise time in
the most demanding communication applications. Rakon has three manufacturing plants, and has six
research and development centres. Customer support personnel are located in sixteen 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, NZX, ticker code RAK.
www.rakon.com

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Capital Change Notice








Section 1: Issuer information
Name of issuer Rakon Limited
NZX ticker code RAK
Class of financial product Share rights that convert to
ordinary shares pursuant to
Rakon Limited’s Long Term
Incentive Plan (Plan).
ISIN (If unknown, check on NZX website) NZRAKE0001S8
Currency n/a
Section 2: Capital change details
Number issued/acquired/redeemed Share rights in respect of
718,682 ordinary shares.
Nominal value (if any) Nil
Issue/acquisition/redemption price per security No consideration is payable for
the issue of the share rights.
Nature of the payment (for example, cash or other
consideration)
Nil
Amount paid up (if not in full) Nil
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number of
Financial Products of the Class, excluding any Treasury Stock,
in existence)
1

If all share rights issued vest
the shares would represent
0.314 % of the ordinary shares
of Rakon currently on issue.
For an issue of Convertible Financial Products or Options, the
principal terms of Conversion (for example the Conversion
price and Conversion date and the ranking of the Financial
Product in relation to other Classes of Financial Product) or
the Option (for example, the exercise price and exercise date)
 Each share right issued
under the Plan that vests
entitles the holder to one
fully paid ordinary share in
Rakon Limited.
 The number of share rights
that vest depends on
percentage change of
Rakon Limited’s total
shareholder return over a
three-year performance
period ending 25 June
2024 relative to the total
shareholder return of the
NZX50.

1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

 Subject to the Board’s
discretion, the share rights
will lapse if the
performance hurdle is not
met or if the holder ceases
to be employed by Rakon
Limited during the vesting
period.
 There is no amount
payable by holders on
grant or vesting of the
share rights or on the
transfer of shares.
 The ordinary shares
transferred upon vesting of
the share rights will rank
equally with all other
ordinary shares then on
issue.
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Issued under the Rakon
Limited Long Term Incentive
Plan approved by the Rakon
Limited Board on 7 December
2021.
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding Treasury
Stock) and the total number of Financial Products of the Class
held as Treasury Stock after the issue/acquisition/redemption.
718,682 share rights
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
n/a
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Rakon Limited Long Term
Incentive Plan Rules, Board
Resolution dated 7 December
2021 and Listing Rule 4.6.1.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
See principal terms of
conversion above
The terms and details of the
issue are contained in the
Rakon Limited Long Term
Incentive Plan Rules.
Date of issue/acquisition/redemption
2
16 December 2021
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Maureen Shaddick
Contact person for this announcement Maureen Shaddick
Contact phone number +64 9 5719238

2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).

Capital Change Notice






Contact email address maureen.shaddick@rakon.com
Date of release through MAP

17 December 2021