Unikmind updates market on Kape takeover offer acceptance

Technology investment vehicle Unikmind updated the market on its cash offer to acquire Kape Technologies on Tuesday.

The company said that as of 3 April, it had received acceptances for 149,638 Kape shares, representing about 0.03% of its issued ordinary share capital.

Unikmind currently holds a 54.23% stake in Kape, and had now acquired or agreed to acquire 54.27% of the AIM-traded owner of ExpressVPN.

The offer remained subject to the acceptance condition, which remained outstanding as of Tuesday morning.

“Kape shareholders who have not yet accepted the offer are urged to do so as soon as possible,” Unikmind said in its statement on Tuesday.

The Offer would remain open for acceptance until 1300 BST on 5 May, unless the unconditional date was brought forward by Unikmind.

“The offer is expected to become or be declared unconditional during the second quarter of 2023, subject to the satisfaction or waiver of the acceptance condition.”

At 0916 BST, shares in Kape Technologies were up 0.35% at 285p.

Reporting by Josh White for Sharecast.com.