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The registrant can renew it, but you should still book catchers in case the registrant doesn't
August 14th is the day it drops and it could happen at any time on the day, but until it drops the owner could renew it. Potentially Nominet could also prevent it from dropping. I've done it before when I contacted a company to sell the day before it was supposed to drop so Nominet prevented it from dropping so it could be transferred.