Kape Technologies Share Discussion Threads

[mister md] 01/3/2023 09:42

Buyers paying over the Ask now ...

[mister md] 28/2/2023 15:04

I'm late to the show, but hoping to enjoy the final act.

[rivaldo] 28/2/2023 08:14

Nice 10,000 share buy at 294.2p just now....

[adamb1978] 28/2/2023 07:35

That's good. Well done the NEDs. Will be interesting to see whether another offeror pops upInteresting that Sagi still hasn't produced his offer document. You have 28 days from announcement to do so, and he can't withdraw his offer - please that he has to go through that expense an hassle for something which he now knows isn't going to happenI still think he'll increase his offer and the deal will be done but at a good bit higher than the current price

[igoe104] 28/2/2023 07:25

I don't think Sagi would consider £2.85 if he was offered it, so why does he expect us to except..

[rivaldo] 28/2/2023 07:07

Felicitations to KAPE's independent directors, who have now correctly concluded:

"the Offer materially undervalues Kape and its future prospects"

Over to Unikmind et al to produce a much weightier offer?

[johndoe23] 28/2/2023 07:07

Well now we know the instis aren't backing the offer

[adamb1978] 27/2/2023 13:05

Hi Poggio

I haven't seen anything which suggests that Slater, Barnyard and Pintardo and supporting Sagi, and in fact, more to the contrary.

If you go back to the deal announcement, there was only 1 irrevocable mentioned in the announcement and he'd have had to announce others, and would want to announce them.

That tells you that two weeks after announcing the offer, and no doubt having spoken to the above 3 shareholders, that no other main shareholder is on his side. He has no hope of making the 75% level without increasing his offer.

Adam

[poggio] 27/2/2023 11:24

Hi AdamB

We should discuss the key shareholders that we know. By my reckoning I think that Sagi is pretty much at the 75% level already. There are however 2 unknowns that I can see.

So the current key shareholders are:

KAPE Key Shareholders SII 424,236,246

Name Shares % holding AKA
Unikmind 232,330,111 54.7643237 Teddi Sagi Dir PDMR
Slater 28,279,765 6.666041685
Barnyard 24,320,814 5.732846787 Peter Burchhardt - is a PDMR
Pintardo 24,165,514 5.696239826 ? Not on Companies House
Dan Pomerantz 25,375,642 5.981488437 Dir PDMR

Other Staff & Dirs 3

Other investors 18.15905957



Against motion 24.82510125 Other Investors and Slater

So 2 uncertainties are: 1) Who is Pintardo and are they related to Sagi or work for KAPE.
2) How large is the staff and director holdings. I've guessed 3% would be about normal but clearly be more or less with significance.

I'm also assuming that all staff and other directors will continue to hold their shares after going private.

So is this your understanding - are there errors with this analysis?

Cheers
Poggio

[adamb1978] 25/2/2023 11:32

Hi Chris

"I think it fairly unlikely that another party will seek a takeover with over 50% of shares held by someone who wants to take it private at a very cheap price."

Possibly, however given how cheap KAPE is I think its plausible that a buyer could get to say 400p per share and Unikmind might be a buyer at 288p (their offer level) but a seller at 400p.

Obviously as you say Unikmind accepting any offer is a pre-requisite for a deal to happen so the KAPE board would logically want to check Unikmind's view quickly. I could believe that other offerors have approached KAPE in the last couple weeks given that this is an area which has seen a lot of M&A and scale matters.

Adam

[chrisdonohue] 24/2/2023 21:53

The default on ii is to vote against the proposed takeover so no action is required.
Chunky buys after hours might suggest that something is about to happen.
I think it fairly unlikely that another party will seek a takeover with over 50% of shares held by someone who wants to take it private at a very cheap price.

[sailorsam1] 24/2/2023 12:46

Do you actually need to vote against

[packman8] 24/2/2023 11:10

Have voted to hold my shares on the II platform

[adamb1978] 24/2/2023 08:27

Nothing showing in my AJ BEll account either.

Was wondering whether KAPE have received an approach from another party. They wouldnt have to announce anything unless there was an offer from someone else, however its perfectly feasible that a competitor will have submitted a letter saying that they were interested in making an offer but required some info to do so.

One thing that we do know for certain is that Unikmind haven't been able to get any of the main 3 shareholders on board with their plans. Otherwise they'd have acquired their shares, or more likely announcement an irrevocable from those parties.

I think we can therefore safely say that 18% of votes aren't going to be supporting the offer or de-listing, so its almost impossible for either to happen (given there will be a lot of shareholders who don't vote).

[death by donut] 24/2/2023 07:04

Wrong thread , soz .DbD :-)

[death by donut] 24/2/2023 07:03

March 7thDbD

[death by donut] 23/2/2023 19:26

Ok , thanks Ska man.DbD

[ska_man] 23/2/2023 19:14

Nope, me neither.....

[death by donut] 23/2/2023 17:41

Anybody had the Corporate action in an AJ Bell account?Got nothing showing in mine.DbD

[johndoe23] 21/2/2023 10:51

Couple of huge buy orders on level 2. Interesting!

[crosswires] 21/2/2023 10:46

With the share price now 10p above the offer I can’t see anyone allowing this to go through lower than the current SP, so about time an increased offer was forthcoming…

[adamb1978] 21/2/2023 08:35

Thanks for posting. Fair point about being in an offer period

[wilske] 20/2/2023 19:10

Just got a response from the CEO.

Thanks for your email.

Please note that in prior years the company provided guidance as it was shortly after an acquisition.

As we are within an offer period, we are following the Takeover Code in general, and more specifically in providing future financial guidance.

Best regards,
Ido

I checked the TC and any guidance they give has to be signed off by their accountants so I guess takes a bit of time.

[wad collector] 20/2/2023 15:47

Yes I like that default option , certainly worth several percent on the apathy /disorganisation/absent front .

[death by donut] 20/2/2023 13:58

thanks elbrus will check my sipp acc.DbD