The two companies said in a joint announcement issued via the JSE on Friday that the Takeover Regulation Panel TRP is holding off from issuing a certificate of compliance, which is required before the transaction can be consummated.
Novus had told Mustek shareholders in a circular that it had expected to receive the certificate from the TRP by no later than 1 August 2025. This will no longer happen.
"The TRP has received certain complaints and, after considering these complaints, has initiated an investigation into - Novus's and Mustek's conduct in relation to the mandatory offer," they said, without providing details about the complaints.
"Novus and Mustek are engaging with the TRP to resolve the TRP investigation as soon as possible and will provide Mustek shareholders with updates when appropriate."
The TRP "cannot issue a certificate of compliance while the TRP investigation is ongoing", they added, effectively putting the transaction on ice for now.