Kondor AI’s Strategic Takeover of Ora Technology Reaches Critical Milestone with May 12 Closure Date

LONDON — In a significant move for the AI-driven financial and environmental technology sectors, Kondor AI PLC has formally set May 12, 2025, as the closure date for its all-share takeover of Ora Technology PLC. With an overwhelming 92.54% of Ora’s issued shares accepted as of April 25, 2025, the transaction now moves toward its final phase, enabling Kondor to compulsorily acquire the remaining 7.46% of shares under UK law. This milestone underscores the robust demand for the Offer, which is poised to reshape the competitive landscape of AI-powered financial platforms and carbon credit markets.

The Offer, first announced on March 21, 2025, proposes an exchange ratio of 0.9848 Kondor shares per Ora share, with the total potential issuance of 206.68 million Kondor shares. By April 25, shareholders representing 193,750,092 Ora shares—including directors and concert parties—had accepted the terms, surpassing the 90% threshold required under the Companies Act 2006. This achievement grants Kondor the legal right to compulsorily acquire all remaining shares, which it will execute via formal notices sent to non-accepting shareholders.

The high acceptance rate reflects investor confidence in the strategic rationale behind the deal. Kondor aims to integrate Ora’s proprietary Ora Carbon platform—a leading tool for carbon credit trading and environmental data analysis—into its AI-driven financial solutions. This union positions the combined entity to capitalize on growing demand for ESG (Environmental, Social, and Governance) technologies and AI-powered financial services. Pioneer AI Foundry, Kondor’s venture partner, emphasized the synergy’s potential to “accelerate innovation in AI-driven marketplaces,” a claim bolstered by Ora’s existing 2.1 million registered users on its carbon platform.

Legal and operational details remain critical for shareholders. Compulsory acquisition notices must be sent within six weeks of May 12, with non-accepting shareholders required to surrender shares by the deadline. Those who miss this window will have their shares acquired at the same terms, with compensation held in trust until settlement. For accepted shares, settlement is expected within 14 days of acceptance, ensuring liquidity for most shareholders by late May.

The transaction’s compliance with the Takeover Code (via a Rule 9 waiver) and adherence to cross-border distribution restrictions also signal rigorous regulatory oversight. Legal advisors Druces LLP and DMH Stallard LLP have guided both parties through the process, reinforcing the Offer’s structural robustness.

Conclusion:
Kondor AI’s takeover of Ora Technology marks a pivotal moment in the consolidation of AI-driven financial and environmental tech firms. With a 92.54% acceptance rate, the Offer’s success is mathematically assured, and the May 12 closure date serves as a clear inflection point for the deal’s completion. The integration of Ora’s Ora Carbon platform into Kondor’s AI ecosystem could unlock new revenue streams in the estimated $100 billion global carbon credit market, as highlighted by a 2024 report from McKinsey.

Furthermore, Kondor’s stock price performance since the Offer’s announcement—expected to show resilience amid market volatility—suggests investor optimism about the strategic value of this merger. As Pioneer AI Foundry notes, the combined entity’s ability to merge AI analytics with carbon credit trading could cement its position as a leader in ESG-focused financial technologies. For shareholders, the compulsory acquisition mechanism ensures finality, while the post-closure settlement timeline minimizes uncertainty. This transaction not only reshapes two companies but also signals a broader trend toward AI-powered solutions in sustainability and finance—a sector primed for exponential growth in the coming decade.