TIDMKAPE
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 Exercise price Exercise
granted per share (pence) 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 103,000 -
2023
-------------- -----------------
15 December 103,000 -
2023
-------------- -----------------
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 via Vigo Consulting
Ido Erlichman, Chief Executive Officer
Oded Baskind, Chief Financial Officer
Shore Capital (Nominated Adviser & Broker)
Toby Gibbs / Mark Percy / James Thomas / Iain +44 (0)20 7408
Sexton 4090
Stifel Nicolaus Europe Limited (Joint Broker)
Alex Price / Brad Topchik / Alain Dobkin / +44 (0) 20 7710
Richard Short 7600
Vigo Consulting (Financial Public Relations)
Jeremy Garcia / Kendall Hill +44 (0)20 7390
kape@vigoconsulting.com 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
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Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Dan Pomerantz
-------------------------- ---------------------------------------
Reason for the notification
2
-------------------------------------------------------------------
a) Position/status P DMR
-------------------------- ---------------------------------------
b) Initial notification Initial
/Amendment
-------------------------- ---------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Kape Technologies plc
-------------------------- ---------------------------------------
b) LEI 213800GTF3PYCXPXET67
-------------------------- ---------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary Shares of $0.0001 par value
financial instrument, each
type of instrument
Identification code 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)
---------- ----------
GBP0.00 721,000
----------
-------------------------- ---------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------- ---------------------------------------
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 P DMR
-------------------------- ---------------------------------------
b) Initial notification Initial
/Amendment
-------------------------- ---------------------------------------
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 Ordinary Shares of $0.0001 par value
financial instrument, each
type of instrument
Identification code 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)
---------- ----------
GBP0.00 515,000
----------
-------------------------- ---------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------- ---------------------------------------
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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