New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Rakon (RAK) announced it has received a non-binding, indicative proposal from a ‘credible industry player’ to purchase 100% of the company in an all-cash offer of NZ$1.70 per share.</li><li>The ‘​​​​​​​incomplete and highly conditional’ offer represents a significant &gt;170% premium to RAK's last undisturbed trading price of NZ$0.62 and is well above our blended spot valuation.</li><li>The timing of the bid appears opportunistic, with RAK amid a cyclical industry downturn that has weighed heavily on its share price.</li></ul>

Rakon (RAK) announced it has received a non-binding, indicative proposal from a ‘credible industry player’ to purchase 100% of the company in an all-cash offer of NZ$1.70 per share.The ‘​​​​​​​incomplete and highly conditional’ offer represents a significant &gt;170% premium to RAK's last undisturbed trading price of NZ$0.62 and is well above our blended spot valuation.The timing of the bid appears opportunistic, with RAK amid a cyclical industry downturn that has weighed heavily on its share price.

Rakon Limited - NZ1.70 Per Share Offer Received

Rakon Ltd

Rakon Limited - NZ1.70 Per Share Offer Received