Kape Technologies - Grant of Options
16/09/2022 07:00
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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 via Vigo Consulting
Ido Erlichman, Chief Executive Officer
Oded Baskind, Chief Financial Officer
Shore Capital (Nominated Adviser & Broker) +44 (0)20 7408 4090
Toby Gibbs / Mark Percy / James Thomas / Iain Sexton
Stifel Nicolaus Europe Limited (Joint Broker) +44 (0) 20 7710 7600
Alex Price / Brad Topchik / Alain Dobkin / Richard Short
Vigo Consulting (Financial Public Relations) +44 (0)20 7390 0237
Jeremy Garcia / Kendall Hill
kape@vigoconsulting.com
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 (http://www.kape.com)
Twitter (https://twitter.com/Kape_com) LinkedIn
(https://www.linkedin.com/company/kape-technologies/)
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 Ordinary Shares of $0.0001 par value each
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)
£0.00 721,000
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 15 September 2022
f) Place of the transaction n/a
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 Ordinary Shares of $0.0001 par value each
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)
£0.00 515,000
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 15 September 2022
f) Place of the transaction n/a
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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