Updates

Kape - Unikmind makes 285p cash offer

March 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Unikmind, the investment vehicle of Israeli Teddy Sagi, has launched a £1.25bn takeover bid for Kape, which values the company at 285p a share. Unikmind already has 55% of the equity and has supported Kape’s buy-and-build deals in the past but sees Kape’s valuation as too low and now believes the most appropriate way to support this strategy is as a private business. The rather unsavory part of the offer is that Unikmind intends to requisition an EGM to delist the shares, regardless of the outcome; Sagi needs 75% of those voting at the EGM to delist and the market clearly feels the offer is too low with the shares over 285p. Vote against the offer. ...

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