Unikmind updates acceptance levels in bid for Kape Technologies

11th Apr 2023 12:00

(Sharecast News) - Unikmind updated the market on acceptances of its cash offer to acquire Kape Technologies on Tuesday, reporting that as of 6 April, it had received acceptances over 160,678 Kape shares, or 0.03% of its issued ordinary share capital.

The company said none of the acceptances were received from parties acting in concert with it.

Unikmind and persons acting in concert already held 54.21% of Kape shares, and taking into account the acceptances received, the total number of Kape shares that Unikmind and those acting in concert had acquired or agreed to acquire is 54.25% of Kape's issued share capital.

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

Unikmind said the offer would initially remain open for acceptance until 1300 BST on 5 May, unless the unconditional date was brought forward by an acceleration statement.

It said it expected the offer would become or be declared unconditional during the second quarter.

As at the close of business on 6 April, Unikmind said it held 232,288,281 Kape shares, representing about 54.21% of the existing issued share capital, while Pierre Lallia held 15,000 Kape shares, and HSBC Bank held zero Kape shares.

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

At 1119 BST, shares in Kape Technologies were down 0.7% at 283p.

Reporting by Josh White for Sharecast.com.