TIDMKAPE
RNS Number : 7552Y
Kape Technologies PLC
24 August 2018
24 August 2018
Kape Technologies plc
("Kape" or the "Company")
Issue of Share Awards
Kape (AIM: KAPE), the consumer security software business,
announces that 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 Moran Laufer, Chief Financial Officer
(together the "Executives"):
PDMR Number of Ordinary Shares subject to
Award
Ido Erlichman 1,200,000
-------------------------------------
Moran Laufer 600,000
-------------------------------------
The Awards have been approved by the remuneration committee of
the Company to incentivise the Executives, who currently have
limited equity interests in the Company, to deliver long-term value
creation for shareholders and ensure alignment with shareholder
interests.
The Awards vest equally over the three year period from grant,
subject to the achievement of certain performance metrics relating
to the three financial years of the Company commencing 1 January
2018 ("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 < 15% for
25% of total each financial
FY 2018 Company revenues $0.049 year 33.33%
------------------- ------------- ----------------- --------------
40% of total
FY 2019 Company revenues $0.065 33.33%
------------------- ------------- ----------------- --------------
55% of total
FY 2020 Company revenues $0.072 33.34%
------------------- ------------- ----------------- --------------
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;
-- "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 have been granted as Jointly Owned Equity Awards
("JOE Awards"). The Company will transfer 1,800,000 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. Don Elgie, David Cotterell
and Martin Blair, being the independent directors, 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 Communications
Ido Erlichman, Chief Executive Officer
Moran Laufer, Chief Financial Officer
Shore Capital (Nominated Adviser & Broker)
Toby Gibbs / James Thomas +44 (0)20 7408 4090
Vigo Communications (Financial Public Relations)
Jeremy Garcia / Antonia Pollock
kape@vigocomms.com +44 (0)20 7390 0237
About Kape
Kape is a cybersecurity company focused on helping consumers
around the world to have better experience and protection in their
digital life. Kape develops and distributes a variety of digital
products in the online security space. The Company utilises its
proprietary digital distribution technology to optimise its reach
and create a superb user experience. Kape offers products which
provide online security, privacy and an optimal online experience.
Kape's vision is to provide online autonomy for a secure and
accessible personal digital life, with team of over 350 people
across seven locations worldwide.
www.kape.com
This announcement contains certain information that could be
interpreted as forward-looking statements with respect to the
financial conditions, results of operations and businesses of Kape.
This information involves risk and uncertainty because it relates
to events and depends upon circumstances that will occur in the
future. There are a number of factors that could cause actual
results or developments to differ materially from those expressed
or implied by this information. Nothing in this announcement should
be construed as a profit forecast.
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 1,200,000
----------
---------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume N/A (single transaction)
- Price
---------------------------- -------------------------------------
e) Date of the transaction 24/08/18
---------------------------- -------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
---------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Moran Laufer
---------------------------- -------------------------------------
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 24/08/18
---------------------------- -------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
---------------------------- -------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHPGUWPRUPRGMW
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