RAK Rakon

[Leftfield]

New poster. I've owned RAK since 2006 with buys ranging from $4.50+ to 15cents. It's been the worst investment I've ever made. It's astonishing how much effort and resource and intelligence over so many years can result in so little for shareholders. As long as the Robinsons hold a blocking stake it'll stay as it is forever…scraping by on hope for the next 'big thing'. No white knight here anytime soon I'm afraid. I don't doubt the technical underpinnings of this business but what's needed is a fresh Board with teeth and a new take on executive remuneration...the Chrysler/Iaccoca method ie. $1dollar pa salaries to the executive team and any other earnings directly a function of profit targets and share performance improvement. Currently the top tier can earn massive salaries year after year from a company barely profitable.

Well said SPC. This share best left well alone until the Robinson family depart board and management. Like you I held once (after a broker recommended it in the $4.00 area) I subsequently got out but not before I lost about $10k.

It was a good learning for me, I have done miles better with my investments since I started questioning anything a broker says!

[percy]

New poster. I've owned RAK since 2006 with buys ranging from $4.50+ to 15cents. It's been the worst investment I've ever made. It's astonishing how much effort and resource and intelligence over so many years can result in so little for shareholders. As long as the Robinsons hold a blocking stake it'll stay as it is forever…scraping by on hope for the next 'big thing'. No white knight here anytime soon I'm afraid. I don't doubt the technical underpinnings of this business but what's needed is a fresh Board with teeth and a new take on executive remuneration...the Chrysler/Iaccoca method ie. $1dollar pa salaries to the executive team and any other earnings directly a function of profit targets and share performance improvement. Currently the top tier can earn massive salaries year after year from a company barely profitable.

Welcome.
Great post.

[Wai Wai]

Where have all the sellers gone and why?

[nztx]

Where have all the sellers gone and why?

Who knows.. maybe they have given up & resigned to the fact that they are destined to remain parked up term holders in RAK going nowhere fast ?

On recent & not so recent reports, they can't be blamed for consigning the bundle to lowest level drawer possible, not visited often

[Scrunch]

Where have all the sellers gone and why?

The share price has been rising since a low in late March. Some of this rise, particularly late April was on good volumes. This tends to indicate the sellers have been bought out at current prices. They had two covid updates in early March and early April. The absence of an update early May would tend to indicate that things remain at least on-track, if not improving. If they had gone backwards, continuous disclosure updates should have prompted an update.

[BlackPeter]

Where have all the sellers gone and why?

The share price has been rising since a low in late March. Some of this rise, particularly late April was on good volumes. This tends to indicate the sellers have been bought out at current prices. They had two covid updates in early March and early April. The absence of an update early May would tend to indicate that things remain at least on-track, if not improving. If they had gone backwards, continuous disclosure updates should have prompted an update.

Nothing particular to see related to Rakon. While it is in general a great example for a company with weak governance and management - this fact does not seem to have influenced the share price over the last 3 months or so.

SP moved the last three months quite in harmony with the NZX50 ... as did many other shares.

Attachment 11573

[carrom74]

https://www.nzherald.co.nz/business/...ectid=12335733

Interesting development.. but wonder with 14% power, can they break the back?(need 20% to call for SGM)Reminds me of the shareholder revolt which booted one of the Robinson brothers from directorship.

[Cadalac123]

Rakon listed on the NZX in 2006 at $1.60 and shot to $5.45 a year later.

It last traded at 24c.

geez.. what a ride..

[Lola]

https://www.nzherald.co.nz/business/...ectid=12335733

Interesting development.. but wonder with 14% power, can they break the back?(need 20% to call for SGM)Reminds me of the shareholder revolt which booted one of the Robinson brothers from directorship.

Yes its now one to be in...the same gentleman who seems to be instigating this pressure on directors to pull finger, has got form in his endeavors..viz NZX.

[Wai Wai]

The Companies Act says shareholders holding 5 percent or more of a company's shares can call a special meeting.