Business
Compulsory Acquisition of Idox Shares
Frankel UK Bidco Limited has announced that it has received valid acceptances for 90.2% of Idox plc shares under its recommended cash acquisition offer, triggering compulsory acquisition of the remaining shares. The offer, initially announced on January 5, 2026, will proceed with the compulsory acquisition of any shares not yet accepted, on the same terms as the original offer. Idox's admission to trading on AIM is expected to be cancelled on May 29, 2026, after which Idox will be re-registered as a private company. Shareholders are urged to accept the offer by the deadline of 1:00 p.m. on May 14, 2026, to ensure timely settlement of consideration. Disclaimer*
About this update from Idox Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\nFOR IMMEDIATE RELEASE\n12 May 2026\nRECOMMENDED CASH ACQUISITION\nof\nIdox plc\nby\nFrankel UK Bidco Limited\n(a newly-formed company indirectly owned by Long Path Co-Investment Fund #6, LP (acting by its general partner, Long Path Co-Investment Fund #6 GP, LLC), Long Path Smaller Companies Fund, LP (acting by its general partner Long Path Fund GP, LLC), Long Path Smaller Companies Master Fund, Ltd. and Long Path Opportunities Fund II, LP (acting by its general partner, Long Path Opportunities Fund GP, LLC))\nCOMPULSORY ACQUISITION OF IDOX SHARES\nOn 5 January 2026 the boards of directors of Frankel UK Bidco Limited (\"Frankel\") and Idox plc (\"Idox\") announced a switch of offer structure from a Scheme of Arrangement to a recommended takeover offer as defined in Chapter 3 of Part 28 of the Companies Act (the \"Offer\") pursuant to which Frankel would offer to acquire the entire issued and to be issued share capital of Idox (the \"Acquisition\"). The offer document in respect of the Offer (the \"Offer Document\") was published and posted to Idox Shareholders on 15 January 2026. \nThis announcement should be read in conjunction with the full text of the Offer Document. Capitalised terms used but not defined in this announcement have the meanings given to them in the Offer Document.\nCompulsory Acquisition\nFrankel is pleased to announce that, as at 5.00 p.m. on 11 May 2026, it had received valid acceptances under the Offer in respect of a total of 405,036,497 Idox Shares. For the purposes of Chapter 3 of Part 28 of the Companies Act 2006, and excluding Idox Shares that were held by associates of Frankel, this represents valid acceptances in respect of approximately 90.2% of the Idox Shares to which the Offer relates.\n \nAs Frankel has now received valid acceptances under the Offer in respect of not less than 90% in value of the Idox Shares to which the Offer relates, and of the voting rights carried by those shares, Frankel will exercise its rights in accordance with Chapter 3 of Part 28 of the Companies Act to acquire compulsorily the remaining Idox Shares in respect of which the Offer has...