Long Path Co-Investment Fund 6, LP, Long Path Smaller Companies Master Fund Ltd., Long Path Smaller Companies Fund, LP and Long Path Opportunities Fund Ii, Lp, funds managed by Long Path Partners, LP reached an agreement to acquire remaining 87.68% stake in IDOX plc (AIM:IDOX) for approximately £290 million on October 28, 2025. As part of the acquisition, Long Path Partners, LP along with its funds will acquire through Frankel UK Bidco Limited, a vehicle formed for the purpose of acquisition. Upon completion, Long Path Co-Investment Fund 6, LP will own 87%, Long Path Smaller Companies Master Fund Ltd., and Long Path Smaller Companies Fund, LP will own 7%, and Long Path Opportunities Fund II, LP will own 6% in Bidco. The Acquisition will be implemented by way of a Court-sanctioned scheme of arrangement. A cash consideration valued at £0.715 per share will be paid by Long Path Partners, LP.

Long Path Partners, LP has received irrevocable undertakings from certain Idox Directors in respect of aggregate, 3,370,690 Idox Shares representing approximately 0.73% of the existing issued ordinary share capital of Idox to vote in favor of the Scheme. Long Path Partners, LP has received irrevocable undertakings from Herald Investment Trust plc in respect of aggregate 13,648, 201 Idox Shares representing approximately 2.96% of the existing issued ordinary share capital of Idox to vote in favor of the Scheme. Long Path Partners, LP has also received non-binding letters of intent from certain other Idox Shareholders, being Canaccord Genuity Asset Management, Rathbones Investment Management and SFM UK Management LLP in respect of aggregate, 89,014,603 Idox Shares representing 19.28% of the existing issued ordinary share capital of Idox to vote in favor of the Scheme. The transaction is financed through a combination of equity and debt to be provided under the Interim Facilities Agreement arranged by Guggenheim Partners Europe Limited. Following the Scheme becoming Effective, the Group will continue to be led by the existing management team. It is intended that the non-executive directors of Idox will resign as directors of Idox with effect from the Scheme becoming Effective and be paid in lieu of their contractual notice periods and Idox's head office and certain key functions will continue to be headquartered at the current Idox office. Long Path has no plans to change other locations of Idox. Upon completion, Long Path Partners, LP will own 100% stake in IDOX plc and It is intended that dealings in Idox Shares should be suspended shortly prior to the Effective Date.

The transaction is subject to approval of offer by the shareholders of IDOX plc, subject to court approval, Regulatory approvals, Third party clearances, . The board of directors of IDOX plc considers the terms to be fair and reasonable and intends to recommend unanimously that the Scheme Shareholders vote in favor of the Scheme at the Court Meeting and that the Idox Shareholders vote in favor of the Resolutions at the General Meeting. The transaction is expected to close during Q1 2026.

Simon Bridges, Max Hartley and Harry Rees of Canaccord Genuity Limited acted as financial advisor to Long Path Partners, LP. Warner Mandel, Anton Black and Jose Benito Sanz of N.M. Rothschild & Sons Limited acted as lead financial advisor to board of directors of IDOX plc. Neil Patel, Kate Bannatyne, Benjamin Cryer and Alice Lane of Peel Hunt LLP acted as financial advisor to IDOX plc. Kirkland & Ellis International LLP acted as legal advisor to Long Path Partners, LP. Pinsent Masons LLP acted as legal advisor to IDOX plc.