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On 20 February 2026, Frankel UK Bidco Limited and Idox PLC jointly requested a suspension of their offer timetable. The Takeover Panel Executive agreed to this request because conditions related to official authorisation or regulatory clearance will not be satisfied or waived by 5:00 pm on 21 February 2026.
| Date | 20 Feb 2026 |
| Time | 09:00:01 |
| Category | Acquisitions and alliances |
| ID | 8312T |
2026/3
OFFER BY
FRANKEL UK BIDCO LIMITED ("FRANKEL")
FOR
IDOX PLC ("IDOX")
OFFER TIMETABLE SUSPENDED
Rule 31.8 of the Takeover Code provides that, except with the consent of the Panel, the board of an offeree company should not announce any material new information after Day 39 of the offer timetable. Normally, therefore, the last day for the announcement by Idox of material new information in the context of the offer by Frankel would be 23 February 2026.
Under Rule 31.4(a) of the Code, if one or more conditions to an offer relating to an official authorisation or regulatory clearance has not been satisfied or waived by 5.00 pm on the second day prior to Day 39, the Panel will normally suspend the offer timetable:
|
(i) |
at the joint request of the offeror and the offeree company; or |
|
(ii) |
at the request of either the offeror or the offeree company, provided that at least one of the outstanding conditions relates to a material official authorisation or regulatory clearance. |
Frankel and Idox have jointly requested a suspension of the offer timetable in accordance with Rule 31.4(a)(i) on the basis that one or more conditions to the offer relating to an official authorisation or regulatory clearance will not be satisfied or waived by 5.00pm on 21 February 2026.
The Panel Executive has agreed to this request and has therefore suspended the offer timetable.
Under Rule 31.4(b), the offer timetable will resume on the date on which the last condition relating to a relevant official authorisation or regulatory clearance is satisfied or waived, which date will then become the 28th day prior to Day 60 of the revised offer timetable.
In accordance with Rule 31.4(d), when the offer timetable resumes in accordance with Rule 31.4(b), Frankel will make an announcement confirming the new Day 60.
The requirement for Frankel to make announcements of acceptance levels under Rule 17.1(a)(i) of the Code will not apply for the duration of the suspension of the offer timetable and will recommence when the offer timetable resumes.
20 February 2026