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Grant of Options

16 Sep 2022 07:00

RNS Number : 6815Z
Kape Technologies PLC
16 September 2022
 

16 September 2022

Kape Technologies plc

("Kape," the "Group" or the "Company")

Grant of Options

Kape (AIM: KAPE), the digital security and privacy software business, announces that, following the acquisition of ExpressVPN in December 2021, and the excellent progression in integrating that business into the Group, under the Company's 2014 Global Equity Plan ("Plan") Kape has today granted options over, in aggregate, 1,236,000 ordinary shares of US$0.0001 par value in the Company ("Options") to Dan Pomerantz and Peter Burchhardt, the founders of Express VPN and key members of the Kape management team (together the "ExpressVPN Executives").

Ido Erlichman, Chief Executive Officer of Kape, commented:

"ExpressVPN is one of the world's leading brands in the digital privacy space, and its acquisition was transformational for Kape, positioning the Group at the forefront of the digital privacy space, adding the premium brand in the space, a robust infrastructure, an incredible international team, and the addition of over three million customers in our key markets.

 

The acquisition of ExpressVPN provides potential synergies with c. US$30 million expected to be realised on an annualised basis by 31 December 2023. The integration has progressed ahead of expectation, and we are now operating as a unified team. We are on track to realise in the region of c. US$9 million in operational synergies by the end of the year.

 

Dan and Peter's leadership has been integral to, and will continue to be central to, delivering the integration of ExpressVPN into the Kape group and realising the expected synergies. We have today granted them the Options to reflect this."

Details of the Option grant:

PDMR

Number of Options granted

Exercise price per share (pence)

Exercise Period

Dan Pomerantz

721,000

0p

10 years

Peter Burchhardt

515,000

0p

10 years

The Options vest over the course of 15 months as follows:

Vesting Date

Number of Options

Dan Pomerantz

Peter Burchhardt

14 March 2023

412,000

412,000

15 June 2023

103,000

103,000

15 September 2023

103,000

-

15 December 2023

103,000

-

The final vesting date of 15 December 2023 will mark the two-year anniversary of the completion of the acquisition of ExpressVPN by Kape. The Options vest subject to the achievement of the successful integration of the ExpressVPN business into the wider business of the Company's group, and the achievement by the Company of synergies at an annualised run rate of not less than US$30 million by 31 December 2023.

Related Party Transaction

Dan Pomerantz and Peter Burchhardt are considered related parties of Kape for the purposes of the AIM Rules for Companies. The award of the Options by the Company is therefore a related party transaction under Rule 13 of the AIM Rules for Companies. The independent directors of Kape (in this instance being Don Elgie, Ido Erlichman, Oded Baskind, David Cotterell, Pierre Lallia and Martin Blair) consider, having consulted with the Company's nominated adviser, Shore Capital and Corporate Limited, that the issue of the Options is fair and reasonable insofar as the Company's shareholders are concerned.

 

Enquiries:

 

Kape Technologies plc

Ido Erlichman, Chief Executive Officer

Oded Baskind, Chief Financial Officer

 

via Vigo Consulting

Shore Capital (Nominated Adviser & Broker)

Toby Gibbs / Mark Percy / James Thomas / Iain Sexton

+44 (0)20 7408 4090

Stifel Nicolaus Europe Limited (Joint Broker)

Alex Price / Brad Topchik / Alain Dobkin / Richard Short

 

+44 (0) 20 7710 7600

Vigo Consulting (Financial Public Relations)

Jeremy Garcia / Kendall Hill

kape@vigoconsulting.com

+44 (0)20 7390 0237

About Kape

Kape is a leading 'privacy-first' digital security software provider to consumers. Through its range of privacy and security products, Kape focusses on protecting consumers and their personal data as they go about their daily digital lives.

Kape has c.7 million paying subscribers, supported by a team of over 900 people across ten locations worldwide. Kape has a proven track record of revenue and EBITDA growth, underpinned by a strong business model which leverages our digital marketing expertise.

Through its subscription-based platform, Kape has fast established a highly scalable SaaS-based operating model, geared towards capitalising on the vast global consumer digital privacy market.

www.kape.com  

Twitter   LinkedIn

 

1

Details of the person discharging managerial responsibilities / person closely associated

a) 

Name

Dan Pomerantz

2

Reason for the notification

a)

Position/status

PDMR

b)

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Kape Technologies plc

b)

LEI

213800GTF3PYCXPXET67

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

 Identification code

 

Ordinary Shares of $0.0001 par value each

 

ISIN: IM00BQ8NYV14

b)

Nature of the transaction

Grant of Options over ordinary shares of US$0.0001 par value in the Company

 

c)

 

Price(s) and volume(s)

 Price(s)

Volume(s)

£0.00

721,000

d)

 

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

15 September 2022

f)

Place of the transaction

n/a

 

1

Details of the person discharging managerial responsibilities / person closely associated

a) 

Name

Peter Burchhardt

2

Reason for the notification

a)

Position/status

PDMR

b)

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Kape Technologies plc

b)

LEI

213800GTF3PYCXPXET67

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

 Identification code

 

Ordinary Shares of $0.0001 par value each

 

ISIN: IM00BQ8NYV14

b)

Nature of the transaction

Grant of Options over ordinary shares of US$0.0001 par value in the Company

 

c)

 

Price(s) and volume(s)

 Price(s)

Volume(s)

£0.00

515,000

d)

 

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

15 September 2022

f)

Place of the transaction

n/a

 

 

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END
 
 
IOESFFEFIEESEFU
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