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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kape Technologies Plc | LSE:KAPE | London | Ordinary Share | IM00BQ8NYV14 | ORD USD0.0001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 285.00 | 279.00 | 285.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMKAPE
RNS Number : 9861F
Kape Technologies PLC
25 March 2022
25 March 2022
Kape Technologies plc
("Kape" or the "Company")
Issue of Share Awards
Kape (AIM: KAPE), the consumer security software business, announces that, further to the announcement of 22 March 2022, awards in respect of its ordinary shares of $0.0001 each ("Ordinary Shares") have been granted under the Company's 2014 Global Equity Plan ("Plan" and "Awards") to Ido Erlichman, Chief Executive Officer, and Oded Baskind, Chief Financial Officer (together the "Executives"):
PDMR Number of Ordinary Shares subject to Award Ido Erlichman 3,400,000 ------------------------------------- Oded Baskind 600,000 -------------------------------------
The Company's previous long term incentive award programme for executive directors expired at the end of 2020. Since that time, the Company has completed the major acquisitions of Webselenese and ExpressVPN, substantially increasing the Company's scale. More recently, Moran Laufer stepped down as CFO of the Company after five years in that role and Oded Baskind has been appointed as CFO in his place.
In light of the above, the Remuneration Committee has approved the Awards to incentivise the Executives to deliver long-term value creation for shareholders and ensure alignment with shareholder interests.
The Awards vest equally over a four year period from grant, subject to the achievement of certain performance metrics relating to the four financial years of the Company commencing 1 January 2022 ("Performance Period"), as set out below:
SaaS Revenue Adjusted EPS G&A Target Total Vesting Target Target 50% of Award 25% of Award 25% of Award ---------------- ------------- -------------------- The adjusted G&A expenses as a proportion of the total revenue of the Company is < 17.5% 70% of Company for each financial FY 2022 revenues $0.392 year 25% ---------------- ------------- -------------------- -------------- 75% of Company FY 2023 revenues $0.446 25% ---------------- ------------- -------------------- -------------- 80% of Company FY 2024 revenues $0.473 25% ---------------- ------------- -------------- 85% of Company FY 2024 revenues $0.497 25% ---------------- ------------- -------------------- --------------
For the purposes of the above:
-- "SaaS Revenue" means revenues from customer contracts that will renew automatically at the end of their term unless actively terminated by the customer;
-- "Company revenues" means, in the context of SaaS Revenue as defined below, total revenue from Digital Security and Digital Privacy segments;
-- "Adjusted EPS" means the fully diluted adjusted Earnings Per Share of the Company (as presented in the annual accounts related to each financial year of the Performance Period); and
-- "G&A" means the general and administrative expenses after adjusting for one-off and non-recurring expenses of the Company (as presented in the annual accounts related to each financial year of the Performance Period).
Should the SaaS Revenue, Adjusted EPS or G&A expenses fail to meet these target levels in any of the financial years, the proportion of the Award for that financial year will be lost and will not be capable of vesting for the Executives.
The Awards will be granted in the form of Jointly Owned Equity Awards ("JOE Awards"). The Company will transfer 4,000,000 Ordinary Shares out of treasury to Intertrust Employee Benefit Trustee Limited ("Trustee") as trustee of the Kape Technologies plc Employee Benefit Trust ("EBT"), to be held jointly with the Executives in order to satisfy the proposed JOE Awards. Under the terms of the Awards, the Executives will benefit from the growth in value of their respective Award from the date of grant along with the right to acquire the Trustee's interest by way of a nil cost option in the event that the Awards vest.
All dividend and voting rights comprised in the JOE Awards are waived whilst jointly held by the relevant Executive and the Trustee of the EBT.
Related party transaction
The grant of the Awards is a related party transaction under Rule 13 of the AIM Rules for Companies. The Directors of the Company, excluding Ido Erlichman and Oded Baskind , consider, having consulted the Company's Nominated Adviser, Shore Capital & Corporate Limited, that the terms of the related party transaction are 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 / Michael +44 (0)20 7408 McGloin 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 / Antonia Pollock/ 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 over 6.5 million paying subscribers, supported by a team of over 850 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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Notification of Transactions of Directors / Persons Discharging Managerial Responsibility and Connected Persons
1 Details of the person discharging managerial responsibilities / person closely associated a) Name Ido Erlichman ---------------------------- ------------------------------------- 2 Reason for the notification ------------------------------------------------------------------- a) Position/status Chief Executive Officer ---------------------------- ------------------------------------- b) Initial notification Initial notification /Amendment ---------------------------- ------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------- a) Name Kape Technologies plc ---------------------------- ------------------------------------- b) LEI 213800UWCIGKJD9U3T81 ---------------------------- ------------------------------------- 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, Ordinary shares of US$0.0001 par type of instrument value in Kape Technologies plc Identification code IM00BQ8NYV14 ---------------------------- ------------------------------------- b) Nature of the transaction Issue of nil cost awards under the Company's 2014 Global Equity Plan ---------------------------- ------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) nil cost 3,400,000 ---------- ---------------------------- ------------------------------------- d) Aggregated information - Aggregated volume N/A (single transaction) - Price ---------------------------- ------------------------------------- e) Date of the transaction 24/03/22 ---------------------------- ------------------------------------- f) Place of the transaction London Stock Exchange, AIM Market (XLON) ---------------------------- ------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Oded Baskind ---------------------------- ------------------------------------- 2 Reason for the notification ------------------------------------------------------------------- a) Position/status Chief Financial Officer ---------------------------- ------------------------------------- b) Initial notification Initial notification /Amendment
---------------------------- ------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------- a) Name Kape Technologies plc ---------------------------- ------------------------------------- b) LEI 213800UWCIGKJD9U3T81 ---------------------------- ------------------------------------- 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, Ordinary shares of US$0.0001 par type of instrument value in Kape Technologies plc Identification code IM00BQ8NYV14 ---------------------------- ------------------------------------- b) Nature of the transaction Issue of nil cost awards under the Company's 2014 Global Equity Plan ---------------------------- ------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) nil cost 600,000 ---------- ---------------------------- ------------------------------------- d) Aggregated information - Aggregated volume N/A (single transaction) - Price ---------------------------- ------------------------------------- e) Date of the transaction 24/03/22 ---------------------------- ------------------------------------- f) Place of the transaction London Stock Exchange, AIM Market (XLON) ---------------------------- -------------------------------------
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(END) Dow Jones Newswires
March 25, 2022 03:00 ET (07:00 GMT)
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