Ann: S/PRICE: RAK: Price Enquiry (re-formatted)

• Release Date: 31/01/12 15:46
• Summary: S/PRICE: RAK: Price Enquiry (re-formatted)
• Price Sensitive: No
• Download Document  3.13KB

					

RAK
31/01/2012 13:46
S/PRICE

REL: 1346 HRS Rakon Limited

S/PRICE: RAK: Price Enquiry (re-formatted)

Following a request from the company, the following is a re-formatted release
of yesterday's price enquiry announcement in RAK.

30 January 2012

Graham Leaming
Company Secretary
Rakon Limited
Private Bag 99943
Newmarket
Auckland

By email: [email protected]

Dear Graham,

Price Enquiry

We write with respect to the continuous disclosure Listing Rules.

Listing Rule 10.1.1 ("the rule") is set out in the Schedule attached to this
letter.  In summary, this rule requires Issuers to immediately disclose any
Material Information to NZX Limited ("NZX").

The rule provides limited exceptions to this obligation.  Material
Information does not need to be disclosed where a reasonable person would not
expect the information to be disclosed and where the information is
confidential and its confidentiality is maintained and where one of five safe
harbours applies.

During the period 4 January 2012 to 27 January 2012, the closing price of
Rakon Limited Ordinary Shares ("RAK") increased from $0.47 to $0.67. This
represents an increase in the price of RAK of $0.20 or 42.5%.

Given this large increase in the price of RAK, please advise NZX whether
Rakon Limited continues to comply with Listing Rule 10.1.1.

Could you please provide NZX with an answer to the above question (email:
[email protected]) before 9.30 am, January 31 2012.

Please note that Rakon Limited's response to this letter will be published in
full to the market.

Yours faithfully

Fraser Wyeth
Market Supervision

SCHEDULE

10.1.1 Continuous Disclosure of Material Information: Without limiting any
other Rule, every Issuer shall:

(a) once it becomes aware of any Material Information concerning it,
immediately release that Material Information to NZX, provided that this Rule
shall not apply when:

(i) a reasonable person would not expect the information to be disclosed; and

(ii) the information is confidential and its confidentiality is maintained;
and

(iii) one or more of the following applies:

(A) the release of information would be a breach of law; or
(B) the information concerns an incomplete proposal or negotiation; or
(C) the information comprises matters of supposition or is insufficiently
definite
to warrant disclosure; or
(D) the information is generated for the internal management purposes of the

Issuer; or
(E) the information is a trade secret.

In this Rule 10.1.1, an Issuer is aware of information if a Director or an
executive
officer of the Issuer (and in the case of a Managed Fund, a Director or
executive
officer of the Manager) has come into possession of the information in the
course of
the performance of his or her duties as a Director or executive officer.

Rakon Limited's response follows underneath:

30 January 2012

Fraser Wyeth
Market Supervision
NZX Limited
PO Box 2959
Wellington

Dear Fraser,

Rakon - Price Query

In response to your letter dated 30 January 2012, we confirm Rakon Limited
(RAK) continues to comply with Listing Rule 10.1.1.

Yours sincerely

Graham Leaming
COO/CFO
Rakon Limited
End CA:00219023 For:RAK    Type:S/PRICE    Time:2012-01-31 13:46:51