RAK Rakon

[jonu]

Guess they had to put out a statement to pretend they’re doing something, but in reality not really, but like yeah nah.

Doubt anything concrete will eventuate this side of Xmas. Take a break and relook at it Feb/Mar.

I took the announcement as being quite positive, especially that some large holders had expressed support. Although the market took until today to respond. I reckon this thing could pop upwards big time over the holiday break with the usual lower volume.

Discl: Holding

[moimoi]

and that they have formed a committee to consider...

They could have dismissed the proposal out of hand as opportunistic and undervaluing the company.

Interesting that this is the exact reason given earlier in the year for the requested increase in Director's Fee's.

GLTA.

[Pricey]

Yes, nice spot regarding the increase in director fees (but in hindsight imagine coming cap in hand for something that *might* happen): "The proposed increase to theprovision for significant additional workand attendances reflects the level of feesthat directors believe may be required tocompensate directors if a significant event ortransaction occurs.

I wonder if one of the "significant shareholders" is Siward Crystal Technology. They would turn their $38m investment into $174m.

This is really when the independent directors should come into their own. Lorraine, Keith and Steve have some involvement with other NZX Listed Companies. Steve was on the Board of Methven when it got taken over and de-listed (for better or worse, seems like the made a hash of it: https://www.nzherald.co.nz/business/...5UJSEVURIY6EU/)

[nztx]

Yes, nice spot regarding the increase in director fees (but in hindsight imagine coming cap in hand for something that *might* happen): "The proposed increase to theprovision for significant additional workand attendances reflects the level of feesthat directors believe may be required tocompensate directors if a significant event ortransaction occurs.

I wonder if one of the "significant shareholders" is Siward Crystal Technology. They would turn their $38m investment into $174m.

This is really when the independent directors should come into their own. Lorraine, Keith and Steve have some involvement with other NZX Listed Companies. Steve was on the Board of Methven when it got taken over and de-listed (for better or worse, seems like the made a hash of it: https://www.nzherald.co.nz/business/...5UJSEVURIY6EU/)

the problem with too many of the non aligned larger blocks on the Register with different ideas is that might upend
the interests of the founder blocks - if the Board & Outfit continues to show signs of going back to sleep for more of
the same.

Siward looked like the largest stakeholder parcel when I last looked.. Mike Daniel's Warahi was up there too
among various Robinson's parcels

These Offers highlight potential value seen by other parties. The wake up call has been delivered and the Board is on notice going forwards.

[ronaldson]

RAK surely had value in a geo-political sense that wasn't reflected in the share price prior to this "offer" landing.

And the large facility in India is just ramping up, and sits alongside existing operations in France and the UK - this kind of base is not easily replicated by NZ entities active in any manufacturing industry and this particular industry has growth potential if you can remain on the leading edge. Anyway, to some extent the hard yards seem to have been run here.

RAK could easily be on the radar of more than one potential suitor despite profitability issues just now.

[moimoi]

absolutely...

Which, among many other reasons, would make it VERY surprising if exclusivity was granted @ $1.70.

[Mel]

absolutely...

Which, among many other reasons, would make it VERY surprising if exclusivity was granted @ $1.70.

The market was only valuing RAK at a third of the current bid, so I would be supportive if exclusivity was granted (ideally with a slight premium on $1.70), given the rollercoaster ride we've had with RAK and management's track record of not capitalising on the opportunities. (arguably).
DISCL: substantial holding

[sb9]

It’s the checkered history of management by Robinsons is what the real issue here. But for that this business is worth far more than bid price. Guess they can’t win them all with lot of pressure from not just retail holders but some big boys too.

[Dlownz]

Climbing slowly, still waiting for more news.
😊

[SPC]

An 'incomplete and highly conditional offer' doesn't sound like much of an offer at all if you're honest and rational about it.
Either they are willing to cough up $1.70 for the thing or they aren't. What's the problem here?.
Keep a life jacket handy I say.