RAK Rakon

[nztx]

Mike Daniel still grumpy

From BusinessDesk

Daniel complained to the “ultimate market regulator”, the Financial Markets Authority (FMA). The FMA confirmed it had received a complaint.

Daniel had also repeatedly written to Rakon and its chair, Lorraine Witten, asking for it to at least tell Rakon investors whether the talks continued.

Rakon said in an emailed statement that its board was mindful of and paid close attention to its continuous disclosure obligations to release material information to the market in accordance with the listing rules.

“Rakon is committed to keeping shareholders informed in accordance with those obligations but is otherwise subject to confidentiality restrictions.”

Good on him - what are Directors' duties again ?

Acting in best interests of the Company & Shareholders (that is all as a collective Group - not some, or a few larger stakeholders)

Time this was investigated along with the Board, Directors etc

Somehow many might wonder if the FMA have the balls & nous to achieve too much other than try to
recover their own court costs and produce Claytons wins.. and along with them stuff all those who have potentially lost out on the other side of the coin

If Directors & senior managers / assistants have breached their duties then maybe time for a class action against those who may or may not have strayed ?

There are probably a large bundle other worthy candidates for similar treatment & class action treatment too

It will only take one well won case then threat of red hot poker treatment for others to sort out the others on what they are potentially likely to be lined up for

“Rakon is committed to keeping shareholders informed in accordance with those obligations but is otherwise subject to confidentiality restrictions.”

what have RAK stakeholders seen out of this ?


Alleged Offer price was what ? $1.70 was it or not ?

What was the SP at close today ? - looks like $ 0.94

Looks to most that Stakeholders have to date potentially lost 76c a share over the duration so far



How much hidden or other value have RAK's board in charge of running things generated for the Company & Stakeholders in the time while this has been going on ?