Directors of ExpressVPN owner Kape have warned shareholders that gambling tycoon Teddy Sagi may leave them no choice but to accept his bid to acquire the remainder of the cybersecurity company, despite their “firm view that it materially undervalues Kape”.
Sagi’s Unikmind Holdings - which already holds 54.8% of cybersecurity firm Kape - submitted a bid to acquire the remainder of the business in February. If accepted, Kape will delist from the London Stock Exchange’s Alternative Investment Market. Sagi said delisting would be the best decision given the current financial climate.
