IDOX PLC Statement regarding Dye & Durham's withdrawal (8401S)
March 19 2021 - 3:00AM
UK Regulatory
TIDMIDOX
RNS Number : 8401S
IDOX PLC
19 March 2021
This announcement contains inside information
For immediate release
19 March 202 1
Idox plc
Statement regarding Dye & Durham's withdrawal
On 19 February 2021, Idox plc ("Idox" or the "Company")
confirmed that it had received a non-binding indicative proposal
from Dye & Durham Limited ("Dye & Durham") regarding a
possible offer for Idox.
Idox notes the Rule 2.8 announcement now published by Dye &
Durham stating that it does not intend to make an offer for
Idox.
The Board has engaged constructively with Dye & Durham,
maintaining a very clear view of the potential value of the
business to its current owners. These discussions have come to an
end. Idox remains confident in its future as an independent company
and its potential to create further shareholder value.
David Meaden, Chief Executive of Idox, said:
"As announced in our results on 2 February, we look forward to
our financial year 2021 with ambition and energy, and executing our
strategy of building a business focused on software based
activities within the Public Sector and Engineering Information
Management markets.
We have now completed the intended reshaping of our Group with
the recent disposals of all remaining parts of our Idox Content
division, and will look to scale our Group further through
carefully selected bolt-on acquisitions. These disposals, together
with positive momentum from current trading, have significantly
strengthened the group's balance sheet, which in turn offers
greater strategic optionality for shareholder value creation."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain. The person responsible for arranging the
release of this announcement on behalf of Idox is Rob Grubb (Chief
Financial Officer).
Enquiries:
Idox plc
Chris Stone, Non-Executive Chairman
David Meaden, Chief Executive
Rob Grubb, Chief Financial Officer +44 (0) 870 333 7101
Rothschild & Co (Lead Financial Adviser
to Idox)
Warner Mandel
Anton Black
Pietro Franchi +44 (0)20 7280 5000
Peel Hunt (Joint Financial Adviser,
NOMAD and broker)
Edward Knight
Paul Gillam
Nick Prowting +44 (0)20 7418 8900
MHP Communications (Financial PR) +44 (0) 203 128 8170
Reg Hoare / James Bavister / Amy idox@mhpc.com
O'Sullivan
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END
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