Rakon director reduces holding

Rakon director and key shareholder Peter Maire is selling down a further 1 million shares of the 12.4 million he holds in the technology company.

Some 600,000 of those shares will be bought by Rakon chairman Bryan Mogridge.

Maire plans to use the proceeds to fund other investments.

In September, Maire sold up to a fifth of his then 14.9 million stake for a similar purpose.