NBIO process ended

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
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19 June 2024
NBIO PROCESS ENDED
On 18 December 2023, Rakon (NZX:RAK) informed the market that it was undertaking a process to
consider the unsolicited, non-binding, indicative proposal (the Proposal) received on 7 December
2023. That Proposal was incomplete and highly conditional, including being subject to strict
confidentiality controls.
Rakon advises today that, following a period of due diligence, the Proposal will not be progressed
further and the process is at an end.
The parties were unable to reach a suitable resolution to the potential complexities encountered
during due diligence (as announced on 13 May 2024). Given the strict confidentiality restrictions
which remain in place, Rakon will not be providing further comment.
Rakon Chair, Lorraine Witten, commented: “The Board considered the initial Proposal worthy of being
assessed and, with support from its external advisers, undertook a comprehensive process to
determine if the Proposal could be developed into a transaction to be presented to shareholders for
consideration, and to consider any alternative proposals. While this process is now at an end, the
interest shown in our company by this credible party is testament to Rakon’s leading technology,
strong business operations and unrelenting commitment to customers.
“The longer-term growth fundamentals for Rakon’s core markets remain strong and the opportunities
significant, especially within the global space ecosystem and AI hardware sectors, as well as the
ongoing evolution of 5G/6G, cloud and edge computing, and autonomous machines and vehicles.
Rakon’s board and management remain focused on executing on the company’s growth strategy and
delivering against our strategic priorities of technology innovation, core markets, customer
partnerships, and flexible, scalable operations.”
ENDS
Contact
Investor and media relations
Nick Laurent
investors@rakon.com
+64 21 240 7541
www.rakon.com
About Rakon
Rakon is a world leader in advanced frequency control and timing solutions for communications
where speed and reliability are paramount. Our ground-breaking technology and products enable
customers across our core markets of Telecommunications, Positioning and Space and Defence, and
emerging core market of AI computing hardware, to develop next generation applications for life-
changing technologies.
Rakon has three manufacturing plants, six research and development centres, and sixteen customer
support offices worldwide. Founded in Auckland in 1967, Rakon is proud of its New Zealand heritage.
It is a public company listed on the New Zealand stock exchange, NZX, ticker code RAK.