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Pioneer AI Foundry Venture Partner, Kondor AI, Confirms Closure Date for Takeover Offer of Ora Technology
Recommended All-Share Offer to Close at 1.00 P.m. (London Time) on May 12, 2025 Vancouver, British Columbia--(Newsfile Corp. - May 6, 2025) - Pioneer AI Foundry Inc. (CBOE: JPEG) ("Pioneer" or the "Company") informs that its venture partners, Kondor AI PLC ("Kondor") and Ora Technology PLC ("Ora") have agreed on the terms of a recommended all-share offer, under which Kondor will acquire more than 50% of the entire issued ordinary share capital of Ora, which ...
About this update from Pioneer Ai Foundry Inc.
[{"type":"text","content":"Recommended All-Share Offer to Close at 1.00 P.m. (London Time) on May 12, 2025","length":79,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - May 6, 2025) - Pioneer AI Foundry Inc. (CBOE: JPEG) ("Pioneer" or the "Company") informs that its venture partners, Kondor AI PLC ("Kondor") and Ora Technology PLC ("Ora") have agreed on the terms of a recommended all-share offer, under which Kondor will acquire more than 50% of the entire issued ordinary share capital of Ora, which was originally announced on March 21, 2025 (read full release here). The Offer, which is being implemented by means of a takeover offer under the Companies Act 2006, will officially close for acceptance at 1.00 p.m. (UK time) on May 12, 2025.","length":664,"tagName":"p"},{"type":"text","content":"Strong Shareholder Support","length":26,"tagName":"p"},{"type":"text","content":"As at April 25, 2025, Kondor had received valid acceptances for 193,750,092 Ora Shares, representing approximately 92.54% of Ora's issued share capital. These include shares subject to irrevocable undertakings by Kondor Directors and shares held by parties acting in concert with Kondor.","length":291,"tagName":"p"},{"type":"text","content":"Given that Kondor has now received acceptances exceeding 90% of the shares to which the Offer relates, and more than 90% of the associated voting rights, the Company confirms its intention to exercise its rights to compulsorily acquire all remaining Ora Shares under Chapter 3 of Part 28 of the Companies Act 2006.","length":314,"tagName":"p"},{"type":"text","content":""The confirmed closure date marks a strategic milestone for our venture partners. The anticipated integration of Ora's platform capabilities will support Kondor's long-term vision for AI-driven personalization and platform intelligence. We look forward to seeing the combined teams advance innovation and deliver value across the AI agent ecosystem." - Darcy Taylor, CEO of Pioneer AI Foundry.","length":411,"tagName":"p"},{"type":"text","content":"ABOUT KONDOR AI PLC","length":19,"tagName":"p"},{"type":"text","content":"Kondor AI PLC, incorporated on November 1, 2021, is a visionary AI company dedicated to developing cutting-edge artificial inte...