(Alliance News) - Kape Technologies PLC on Friday noted that the takeover offer from Unikmind Holdings Ltd, which it had resisted, is now unconditional.
The London-based digital security software provider said Unikmind has acquired or received acceptances for its offer for 80% of Kape shares.
As a result, the offer will close on May 19, and Kape shares will be cancelled trading on AIM on May 31.
Kape had said that Unikmind's increased and final offer of USD3.60 per share undervalued the company and its future prospects, but on Friday last week, Unikmind bought a further 17.2 million shares at USD3.60 each, increasing its stake to 58% from 54%.
Later that day, Kape said its shareholders should "seriously consider accepting" a revised takeover bid from Unikmind.
Unikmind then acquired 4.8% more in shares, taking its stake to 63%, and then on Thursday this week said it owned or had acceptances for 79.69% of all Kape shares. On Wednesday, Unikmind had declared its takeover offer unconditional in all respects.
Shares in Kape were down 0.4% at 287.88 pence each in London on Friday, at midday.
By Sabrina Penty; Alliance News reporter
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