Darktrace Share Discussion Threads

[praipus] 30/10/2024 19:37

Humiliation complete :) it was paid in USD on the 15/10/2024...

[praipus] 29/10/2024 20:40

ii feel like an idiot look like an idiot,

[praipus] 29/10/2024 20:13

Still nothing from Interactive Investor "ii" what a bunch.... I hate them total...

[deputy303] 28/10/2024 15:41

Forever bull thank you

[foreverbull] 28/10/2024 14:04

I have it in two separate broker accounts and have received money in both this accs

[deputy303] 28/10/2024 13:53

No sign of mine

[foreverbull] 27/10/2024 23:44

Yes... been paid a couple of weeks ago

[deputy303] 27/10/2024 18:07

Has anyone been paid out yet

[foreverbull] 19/10/2024 13:21

Cheers, Mike!Is it based on closing 593 times exchange rate of 1.31? My question is is the closing rate same for all?

[mike the mechanic] 19/10/2024 12:12

The amount received depends on the exchange rate applied.
My rate was about 1.31

[foreverbull] 19/10/2024 07:29

How much was received in GBP. I have some in eToro and some holdings in Saxo and the per share GBP amount is different.

[pharmaboy3] 18/10/2024 18:44

Received my cash today thru Stocktrade

[mike the mechanic] 07/10/2024 19:31

Interactive Investor sent a mail suggesting 10 working days after the completion date.
Let's see!

[pharmaboy3] 07/10/2024 18:08

Latest 29th October

[mercury123] 07/10/2024 18:00

I'd like to know the same!

[dplewis1] 07/10/2024 10:41

When do we get the money in the account for these?

[apotheki] 01/10/2024 07:25

1 October 2024

RECOMMENDED CASH ACQUISITION

of

Darktrace plc

by

Luke Bidco Limited

(a newly-formed company indirectly wholly-owned by funds managed and/or advised by Thoma Bravo, L.P.)

to be implemented by means of a scheme of arrangement

under Part 26 of the Companies Act 2006

SCHEME OF ARRANGEMENT BECOMES EFFECTIVE

On 26 April 2024, the boards of directors of Luke Bidco Limited ("Bidco") and Darktrace plc ("Darktrace") announced that they had reached agreement on the terms and conditions of a recommended all cash acquisition by Bidco of the entire issued, and to be issued, ordinary share capital of Darktrace (the "Acquisition").

The Acquisition is being implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). The circular in relation to the Scheme was published or made available to Darktrace Shareholders on 23 May 2024 (the "Scheme Document"). Capitalised terms used but not defined in this announcement have the meaning given to them in the Scheme Document.

On 24 September 2024, Darktrace and Bidco announced that the Court had sanctioned the Scheme to implement the Acquisition.

Darktrace and Bidco are pleased to announce that the Court Order has been delivered to the Registrar of Companies today and, accordingly, the Scheme has now become Effective in accordance with its terms. Pursuant to the Scheme, the entire issued share capital of Darktrace is now owned by Bidco.

Settlement of Consideration

Under the terms of the Scheme, each Scheme Shareholder on the Darktrace register of members at the Scheme Record Time (6.00 p.m. on 30 September 2024) will be entitled to receive $7.75 for each Scheme Share held at the Scheme Record Time, subject to any valid Currency Election.

Scheme Shareholders who have made a valid Currency Election will receive their Consideration in GBP at the Average Market Exchange Rate obtained by Bidco through one or more market transactions over the coming one or more Business Days. Bidco will announce the Average Market Exchange Rate that it obtains and the GBP sterling amount per Scheme Share once such market transactions have taken place. Scheme Shareholders who have not made a valid Currency Election will receive their Consideration under the Scheme in US dollars.

Settlement of the Consideration to which each Scheme Shareholder is entitled will be effected by way of despatch of cheques or settlement via electronic transfer (for Scheme Shareholders holding Scheme Shares in certificated form) or through CREST (for Scheme Shareholders holding Scheme Shares in uncertificated form) as soon as practicable and in any event not later than 14 days after the Effective Date (15 October 2024).

Delisting of Darktrace Shares

Dealings in Darktrace Shares were suspended with effect from 8.00 a.m. today, 1 October 2024. Applications have been made to the Financial Conduct Authority and the London Stock Exchange in relation to the cancellation of the listing of Darktrace Shares on the equity shares (commercial companies) category of the Official List and the cancellation of the admission to trading of Darktrace Shares on the main market of the London Stock Exchange, which are each expected to take place at 8.00 a.m. tomorrow, 2 October 2024.

Upon the Scheme having become Effective, share certificates in respect of the Scheme Shares have ceased to be valid documents of title and entitlements to Scheme Shares held in uncertificated form in CREST are being cancelled.

As a result of this announcement, Darktrace is no longer in an "offer period" as defined in the Takeover Code and accordingly the dealing disclosure requirements previously notified to investors not longer apply.

Board Changes

As the Scheme has now become Effective, as of today's date all of the non-executive directors of Darktrace have tendered their resignation and stepped down from the Darktrace Board. Jill Popelka and Cathy Graham will remain as directors on the Darktrace Board.

All references to time in this announcement are to the time in London, United Kingdom.

[apotheki] 20/9/2024 16:25

My broker is showing the money in USD$ as the default option but there is an option 2 with exchange rate to be confirmed for GBP£

If you hold within an ISA then according to this broker your ISA will get the money in GBP£'s

[apotheki] 20/9/2024 15:57

RECOMMENDED CASH ACQUISITION

of

Darktrace plc

by

Luke Bidco Limited

(a newly-formed company indirectly wholly-owned by funds managed and/or advised by Thoma Bravo, L.P.)

to be implemented by means of a scheme of arrangement
under Part 26 of the Companies Act 2006


Summary

· The boards of directors of Luke Bidco Limited ("Bidco") and Darktrace plc ("Darktrace") are pleased to announce that they have reached agreement on the terms and conditions of a recommended all cash acquisition by Bidco of the entire issued, and to be issued, ordinary share capital of Darktrace. It is intended that the Acquisition will be implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the 2006 Act.

· Under the terms of the Acquisition, each Darktrace Shareholder will be entitled to receive:

for each Darktrace Share: $7.75 in cash

· The GBP equivalent value of the Acquisition price per Darktrace Share based on the Announcement Exchange Rate, being 620 pence, represents a premium of approximately:

o 44.3 per cent. to the volume-weighted average price of 429.9 pence per Darktrace Share for the three-month period ended 25 April 2024 (being the last Business Day before the date of this announcement);

o 20.0 per cent. to the Closing Price of 517.0 pence per Darktrace Share on 25 April 2024 (being the last Business Day before the date of this announcement);

o 19.6 per cent. to the highest closing share price of 518.6 pence per Darktrace Share for the twelve month period ended 25 April 2024 (being the last Business Day before the date of this announcement);

o 46.0 per cent. to the 21 March 2024 secondary placing price of 425.0 pence per Darktrace Share; and

o 148.1 per cent. to the IPO price of 250 pence per Darktrace Share on 30 April 2021.

· The Acquisition values Darktrace's entire issued, and to be issued, ordinary share capital at approximately $5,315 million on a fully diluted basis and implies an enterprise value of approximately $4,992 million (which is equivalent to £4,254 million and £3,995 million respectively based on the Announcement Exchange Rate) and a multiple of approximately 34 times Darktrace's Adjusted EBITDA for the twelve months ended 31 December 2023 of $146 million.

· Bidco will procure that a facility will be made available under which Scheme Shareholders will be able to elect (subject to the terms and conditions of the facility) to receive the cash consideration in Sterling (after deduction of any transaction or dealing costs associated with the conversion) at the applicable market exchange rate on the latest practicable date for fixing such rate prior to the relevant payment date. Further details of this facility and the election by Scheme Shareholders wishing to receive their cash consideration in Sterling will be set out in the Scheme Document and the Form of Election. On the basis of the Announcement Exchange Rate, the cash consideration implies an equivalent value of 620 pence per Darktrace Share. For any Scheme Shareholder electing to be paid their cash consideration in Sterling, the amount per Darktrace Share received may, depending on the prevailing exchange rate, result in a payment below or above 620 pence per Darktrace Share.

· If, on or after the date of this announcement and prior to the Acquisition becoming Effective, any dividend and/or other distribution and/or other return of capital or value is announced, declared, made or paid or becomes payable in respect of the Darktrace Shares, Bidco reserves the right to reduce the consideration payable under the terms of the Acquisition for the Darktrace Shares by an amount up to the aggregate amount of such dividend and/or distribution and/or other return of capital or value, in which case any reference in this announcement to the consideration payable under the terms of the Acquisition will be deemed to be a reference to the consideration as so reduced. Any exercise by Bidco of its rights referred to in this paragraph shall be the subject of an announcement and, for the avoidance of doubt, shall not be regarded as constituting any revision or variation of the terms of the Scheme or the Acquisition. In such circumstances, Darktrace Shareholders would be entitled to retain any such dividend, distribution and/or other return of capital or value.

[foreverbull] 20/9/2024 10:41

So on a conservative estimate Thomas Bravo will gain approx $300 m due to favourable forex movement... so basically all their consultants costs are for free now.

[foreverbull] 20/9/2024 10:39

So basically adverse currency movements will set DT shareholders back by approx 6%-8%

[foreverbull] 20/9/2024 10:37

I presume under the terms of the acquisition each DT holder will receive for each DT share $7.75 in cash. If you convert $7.75 into GBP in todays rate it comes to £583

[thunders] 20/9/2024 10:24

Shar price is trading beloww offer price. Don`t understand why people not buying? Any idea?