Capital Change Notice

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


20 December 2022


Capital Change Notice

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 400,931 ordinary shares to key
employees. The share rights are being issued pursuant to the Rakon Limited Long Term Incentive
Plan.


-Ends-
Contact:
Investors
Sinan Altug
Chief Executive Officer
+64 21 371 567

Anand Rambhai
Chief Financial Officer
+64 21 542 287
www.rakon.com

A b o u t 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’s products are found at the
forefront of communications where speed and reliability are paramount. Its 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, 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.

---

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
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
400,931 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 vest the
shares would represent
0.175% 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 the percentage
change of Rakon
Limited’s total
shareholder return over
a three-year
performance period
ending 24 June 2025
relative to the total

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

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
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
1,119,613 ordinary shares
after this issue of 400,931
share rights and 718,682 share
rights issued prior to this issue.
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 and
Board Resolution for the
purposes of Listing Rule 3.13.1
dated 8 December 2022.
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
19 December 2022
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Maureen Shaddick

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 person for this announcement Maureen Shaddick
Contact phone number +64 9 5719238
Contact email address maureen.shaddick@rakon.com
Date of release through MAP

20 December 2022