Grant of Options

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 Ido Erlichman, Chief Executive Officer Oded Baskind, Chief Financial Officer	via Vigo Consulting
Shore Capital  (Nominated Adviser & Broker) Toby Gibbs / Mark Percy / James Thomas / Iain Sexton	[phone]
Stifel Nicolaus Europe Limited   (Joint Broker) Alex Price / Brad Topchik / Alain Dobkin /   Richard Short	[phone]
Vigo Consulting   (Financial Public Relations) Jeremy Garcia / Kendall Hill [e-mail]	[phone]

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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1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dan Pomerantz
2	Reason for the notification
a)	Position/status	P DMR
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  Identification code	Ordinary Shares of $0.0001 par value each 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 - 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	P DMR
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  Identification code	Ordinary Shares of $0.0001 par value each 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 - Aggregated volume - Price	N/A
e)	Date of the transaction	15 September 2022
f)	Place of the transaction	n/a

 

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