Capital Change Notice

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 1,125,000 Share Rights granted
Nominal value (if any) Nil
Issue/acquisition/redemption price per security $Nil
Nature of the payment (for example, cash or other
consideration)
No consideration is payable for the grant
of the Share Rights. The conversion of
Share Rights to ordinary shares is subject
to satisfaction of certain performance
conditions. No consideration is payable for
issue of ordinary shares if the Share
Rights vest.
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

0.489 % If all Share Rights vest the
number of ordinary shares to be
transferred to holders would represent
0.489 % of the ordinary shares of Rakon
Limited 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 granted under
the Plan that vests entitles the
holder to one fully paid ordinary
share in Rakon Limited.
 The number of Share Rights that
can vest depends on the
percentage change of Rakon
Limited’s total shareholder return
over a three-year performance
period ending 27 June 2027
relative to the total shareholder
return of the NZX50.
 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

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

by Rakon Limited during the
vesting period.
 There is no amount payable by
holders on issue 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
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.
Share Rights in respect of 1,645,419
ordinary shares after this grant of
1,125,000 Share Rights and the balance
of 520,419 remaining Share Rights after
lapse of 779,914 Share Rights from grants
made under the Plan in prior years that
did not or will not vest because
performance hurdles not satisfied.
In the case of an acquisition of shares, whether
those shares are to be held as treasury stock
Not applicable
Specific authority for the issue, acquisition, or
redemption, including a reference to the rule
pursuant to which the issue, acquisition, or
redemption is made
Board Resolution dated 6 March 2025 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
21/03/2025
Section 3: Disclosure required for Placements made under Rule 4.5.1
[Issuers may opt to release Section 3 information (if not already done so) in a separate announcement within five Business Dats of
the issuance. Delete this Section 3 if capital change is not the result of a Placement under Rule 4.5.1]




Section 4: 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 5719 238
Contact email address maureen.shaddick@rakon.com
Date of release through MAP

21/03/2025


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