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IN BRIEF: Unikmind final offer for Kape declared unconditional

Wed, 26th Apr 2023 19:00

Kape Technologies PLC - London-based digital security software provider - Unikmind declares that its final offer for Kape is now unconditional in all respects following the satisfaction of the acceptance condition. On Thursday last week, Kape noted revised and final cash takeover offer from Unikmind Holdings Ltd for the remaining stake of the company it does not already own. At the time, the firm said Unikmind's revised offer of USD3.60 per share still "undervalues" Kape and its future prospects, however. On Friday last week, Unikmind bought a further 17.2 million shares at USD3.60 each, increasing its stake to 58% from 54%. Later on Friday last week, Kape said its shareholders should "seriously consider accepting" a revised takeover bid from Unikmind, despite it having reservations about the size of the offer. Unikmind then acquired 4.8% more in shares, taking its stake to 63% and prompting Kape to be set to delist from AIM, pending the full takeover bid being declared unconditional. As of Wednesday morning, Unikmind's stake in Kape stands at 79%. The process of delisting Kape shares is intended to begin by Friday this week.

Current stock price: 287.00 pence, down 0.7%

12-month change: down 15%

By Greg Rosenvinge, Alliance News reporter

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