Unikmind acquires another 12 million Kape shares

26th Apr 2023 08:34

(Sharecast News) - Unikmind updated the market on its increased and final cash offer for ExpressVPN owner Kape Technologies on Wednesday.

The new offer price for the AIM-traded company was $3.60 per share, as announced on 20 April.

A document containing the full terms and conditions of the increased and final offer was published and sent to Kape shareholders on 21 April.

On 25 April, Unikmind acquired 11,976,161 Kape shares at the increased price of $3.60, representing 2.79% of Kape's existing issued share capital, excluding treasury shares.

"As at the date of this announcement, Unikmind is therefore interested in, or has received acceptances in respect of, approximately 76.22% of the existing issued ordinary share capital of Kape, and has irrevocable commitments with respect to a further approximately 2.77%, thus totalling approximately 79%, in each case excluding treasury shares," Unikmind said in its statement.

"The increased and final offer will initially remain open for acceptance until 1300 BST on 5 May."

At 0853 BST, shares in Kape Technologies were down 0.4% at 287.83p.

Reporting by Josh White for Sharecast.com.