REG - Long Path Partners IDOX PLC - Rule 19.6(b) update

IdoxAnnouncement

26/05/2026 13:45

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RNS Number : 6559F  Long Path Partners LP  26 May 2026

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INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

THE FOLLOWING ANNOUNCEMENT IS BEING MADE PURSUANT TO THE REQUIREMENTS OF RULES
19.6(B) OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")

FOR IMMEDIATE RELEASE

26 MAY 2026

Frankel UK Bidco Limited

(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))

Director Resignation and Rule 19.6(b) update in relation to the recommended
acquisition of Idox Plc ("Idox")

Frankel UK Bidco Limited ("Frankel") refers to the recommended cash offer for
the entire issued and to be issued ordinary share capital of Idox, which was
implemented by means of a takeover offer as defined in Chapter 3 of Part 28 of
the Companies Act 2006 (the "Acquisition"). The offer document in respect of
the Offer was published and posted to Idox Shareholders on 15 January 2026
(the "Offer Document") and the Offer was declared unconditional on 21 April
2026.

Capitalised terms used but not defined in this announcement have the meanings
given to them in the Offer Document.

CEO retirement

Frankel and Idox announce that David Meaden has informed the board of Idox
that, following the successful completion of the Offer, he has decided to
retire from his executive career after leading Idox through this important
period. David will step down as Chief Executive Officer and resign as a
director of Idox on 29 May 2026, being the date of the proposed cancellation
of the admission to trading of Idox Shares on AIM in accordance with Rule 41
of the AIM Rules for Companies.

David will continue to lead the business until that date and will support an
orderly transition to Jonathan Legdon, Idox's current Chief Operating Officer,
who is expected to succeed David as Chief Executive Officer.

This announcement is made pursuant to Rule 19.6(b) of the Code and constitutes
an update to the statements of intention made by Frankel in the Offer Document
in respect of the board and management of Idox following completion of the
Offer. Frankel continues to recognise the importance of Idox's management team
and looks forward to partnering with Idox's continuing management team. Save
as set out in this announcement, Frankel's stated intentions in respect of the
board and management of Idox remain unchanged.

David Meaden, Chief Executive Officer, said:

"I would like to thank the shareholders, staff, and the Board for their
insight and support during my time as CEO at Idox. I believe we have built an
excellent company, and with Jonathan's leadership and Long Path's support, the
business will continue to thrive."

Jonathan Legdon, Chief Operating Officer, said:

"Dave has made a significant contribution to Idox over many years and has led
the business with commitment, clarity and a strong sense of purpose. We are
grateful for the foundations he has helped build. As we look ahead, we do so
with confidence, supported by Long Path, who have been a long-term investor
and understand both the strength of the business and the opportunities in
front of us."

Enquiries

 Frankel and Long Path                                           via Canaccord Genuity

 Will Brennan

 Brian Nelson

 John Cresson

 Kyle Warren
 Idox                                                            +44 (0) 333 011 1200

 Chris Stone, Non-Executive Chair

 David Meaden, Chief Executive Officer

 Anoop Kang, Chief Financial Officer
 Peel Hunt LLP (Nominated Adviser and Corporate Broker to Idox)  +44 (0)20 7418 8900

 Neil Patel

 Benjamin Cryer

 Kate Bannatyne

 Alice Lane
 MHP (PR Adviser to Idox)                                        + 44 (0) 7831 406 117

 Reg Hoare

 Ollie Hoare

 Finn Taylor

 idox@mhpgroup.com

Kirkland & Ellis International LLP is acting as legal adviser to Frankel
and Long Path.

Pinsent Masons LLP is acting as legal adviser to Idox.

 

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