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- Release Date: 17/09/13 16:13
- Summary: GENERAL: RAK: Directors Compliance On Undertakings To Takeovers Panel
- Price Sensitive: No
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RAK
17/09/2013 14:13
GENERAL
REL: 1413 HRS Rakon Limited
GENERAL: RAK: Directors Compliance On Undertakings To Takeovers Panel
17 September 2013
0.52% SHARE SALE BY MANAGING DIRECTOR, BRENT ROBINSON AND
EXECUTIVE DIRECTOR, DARREN ROBINSON COMPLETED FOR COMPLIANCE
WITH TAKEOVERS CODE
Following the announcement of 31 July 2013, Brent Robinson and Darren
Robinson have now completed the sale of shares in compliance with the
undertakings provided to the Takeovers Panel, arising from an inadvertent
breach of the Takeovers Code through share purchases in July 2013.
The sale of shares by each were completed through a combination of (1)
on-market transfers; and (2) off-market transfers made to two directors of
the Board of Rakon Limited as follows:
1. Off-Market transfer by Darren Robinson to Bruce Irvine of 123,062 shares.
2. Off-Market transfer by Brent Robinson to Bruce Irvine of 276,938 shares.
3. Off-Market transfer by Darren Robinson to Mogridge & Associates Limited
(controlled by Bryan Mogridge) of 153,876 shares.
Full details relating to the transfers are available in the Director's
Interest disclosures for each director, as disclosed on 17 September 2013.
The sale of the 0.52% of the Company's shares by Brent Robinson and Darren
Robinson is solely as a result of a legal requirement rather than any change
in their views about the Company's position or prospects. The off-market
purchases by Bryan Mogridge and Bruce Irvine reflect the confidence of each
in the Company's current position and prospects and are a signal to investors
of their continued commitment to the Company.
ends-
Contact:
Brent Robinson
Rakon (09) 571 9323
www.rakon.com
End CA:00241224 For:RAK Type:GENERAL Time:2013-09-17 14:13:35
