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 Share Rights in respect of
180,000 ordinary shares.
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 issue of the share rights.
The conversion of share rights
to ordinary shares is subject to
satisfaction of certain
performance conditions.
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
0.079% 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
1,299,613 ordinary shares
after this issue of 180,000
share rights and 1,119,613
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 dated 10
March 2023 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
14 March 2023
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

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 phone number +64 9 5719 238
Contact email address maureen.shaddick@rakon.com
Date of release through MAP

17 March 2023