Barclays Regulatory News (BARC)

FORM 8.5 (EPT/NON-RI)

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS

(OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

1.

KEY INFORMATION

(a)

Name of exempt principal trader:

BARCLAYS CAPITAL SECURITIES LTD

(b)

Name of offeror/offeree in relation to whose

GAMMA COMMUNICATIONS PLC

relevant securities this form relates:

(c)

Name of the party to the offer with which exempt

GAMMA COMMUNICATIONS PLC

principal trader is connected

(d)

Date position held/dealing undertaken:

19 Jun 2026

(e)

In addition to the company in 1(b) above, is the exempt principal

NO

trader making disclosures in respect of any other party to the offer?

2.

POSITIONS OF THE EXEMPT PRINCIPAL TRADER

(a)

Interests and short positions in the relevant securities of the offeror or offeree

to which the disclosure relates following the dealing (if any)

Class of relevant security:

0.25p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

1,168,869

1.30%

974,806

1.08%

(2)

Cash-settled derivatives:

and/or controlled:

953,272

1.06%

1,165,407

1.29%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,122,141

2.36%

2,140,213

2.38%

(b)

Rights to subscribe for new securities (including directors and other executive

options)

Class of relevant security in relation to

which subscription right exists

Details, including nature of the rights

concerned and relevant percentages:

3.

DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

(a)

Purchases and sales

Class of relevant

Purchase/sale

Total number of

Highest price per unit

Lowest price per unit

security

securities

paid/received

paid/received

0.25p ordinary

Purchase

741,841

9.1525 GBP

8.8820 GBP

0.25p ordinary

Sale

788,352

9.1287 GBP

8.9250 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

0.25p ordinary

SWAP

Decreasing Long

1,323

8.9500 GBP

0.25p ordinary

SWAP

Increasing Short

17,472

8.9504 GBP

0.25p ordinary

SWAP

Increasing Long

209

9.0366 GBP

0.25p ordinary

SWAP

Closing Long

389

8.9508 GBP

0.25p ordinary

SWAP

Closing Long

111

8.9509 GBP

0.25p ordinary

SWAP

Decreasing Short

1,379

9.0632 GBP

0.25p ordinary

SWAP

Increasing Long

2,128

9.0491 GBP

0.25p ordinary

SWAP

Increasing Long

359

9.0105 GBP

0.25p ordinary

SWAP

Increasing Long

3,122

8.9500 GBP

0.25p ordinary

SWAP

Opening Short

8,806

8.9500 GBP

0.25p ordinary

SWAP

Increasing Long

259

8.9500 GBP

0.25p ordinary

SWAP

Increasing Long

23,123

8.9560 GBP

0.25p ordinary

SWAP

Increasing Long

4,328

8.9702 GBP

0.25p ordinary

SWAP

Decreasing Long

14,657

8.9500 GBP

0.25p ordinary

SWAP

Decreasing Long

2,564

8.9374 GBP

0.25p ordinary

SWAP

Increasing Long

345

8.9500 GBP

0.25p ordinary

SWAP

Increasing Long

478

8.9562 GBP

0.25p ordinary

SWAP

Opening Long

3,736

8.9495 GBP

0.25p ordinary

SWAP

Opening Short

8,431

8.9505 GBP

0.25p ordinary

SWAP

Increasing Long

249

8.9580 GBP

0.25p ordinary

SWAP

Increasing Short

1,347

8.9117 GBP

0.25p ordinary

SWAP

Decreasing Short

1,153

8.9500 GBP

0.25p ordinary

SWAP

Decreasing Long

3,715

8.9988 GBP

0.25p ordinary

SWAP

Decreasing Long

1,380

8.9988 GBP

0.25p ordinary

CFD

Opening Short

6,495

8.9508 GBP

0.25p ordinary

CFD

Decreasing Long

799

8.9870 GBP

0.25p ordinary

SWAP

Decreasing Short

1,889

8.9494 GBP

0.25p ordinary

SWAP

Increasing Long

4,738

8.9702 GBP

0.25p ordinary

SWAP

Decreasing Short

5,806

8.9496 GBP

0.25p ordinary

SWAP

Increasing Long

2,000

9.1056 GBP

0.25p ordinary

SWAP

Increasing Long

688

8.9500 GBP

0.25p ordinary

SWAP

Decreasing Short

384

8.9495 GBP

0.25p ordinary

SWAP

Decreasing Long

209

8.9500 GBP

0.25p ordinary

SWAP

Increasing Short

1,375

8.9500 GBP

0.25p ordinary

SWAP

Decreasing Long

8,495

8.9500 GBP

0.25p ordinary

SWAP

Increasing Long

336

9.0300 GBP

0.25p ordinary

SWAP

Increasing Long

789

9.0289 GBP

0.25p ordinary

SWAP

Increasing Long

1,010

8.8616 GBP

0.25p ordinary

SWAP

Decreasing Short

5,061

9.0294 GBP

0.25p ordinary

SWAP

Increasing Short

1,348

9.0018 GBP

0.25p ordinary

SWAP

Increasing Short

12,004

8.9500 GBP

0.25p ordinary

SWAP

Increasing Short

1,467

8.9500 GBP

0.25p ordinary

SWAP

Decreasing Short

20,800

9.0489 GBP

0.25p ordinary

SWAP

Increasing Long

760

9.0416 GBP

0.25p ordinary

SWAP

Increasing Long

1,641

9.0240 GBP

0.25p ordinary

SWAP

Decreasing Long

3,537

8.8988 GBP

0.25p ordinary

SWAP

Increasing Short

20,495

8.9502 GBP

0.25p ordinary

SWAP

Increasing Short

1,348

8.8815 GBP

0.25p ordinary

SWAP

Decreasing Short

1,665

9.0468 GBP

0.25p ordinary

SWAP

Increasing Short

422

8.9500 GBP

0.25p ordinary

SWAP

Decreasing Short

3,559

8.9496 GBP

0.25p ordinary

SWAP

Increasing Long

1,127

9.0243 GBP

0.25p ordinary

SWAP

Increasing Long

152

8.9250 GBP

0.25p ordinary

SWAP

Closing Short

23,865

8.9500 GBP

0.25p ordinary

SWAP

Opening Long

51,537

8.9500 GBP

0.25p ordinary

SWAP

Increasing Short

1,348

8.9610 GBP

0.25p ordinary

SWAP

Decreasing Short

1,820

9.0493 GBP

0.25p ordinary

SWAP

Increasing Long

505

9.0117 GBP

0.25p ordinary

SWAP

Increasing Long

919

8.9500 GBP

0.25p ordinary

SWAP

Increasing Short

1,348

8.9017 GBP

0.25p ordinary

SWAP

Increasing Long

419

8.9500 GBP

0.25p ordinary

SWAP

Increasing Short

2,694

8.9538 GBP

0.25p ordinary

SWAP

Decreasing Long

108

9.0300 GBP

0.25p ordinary

SWAP

Increasing Long

848

9.0200 GBP

0.25p ordinary

SWAP

Decreasing Long

4,233

8.9500 GBP

0.25p ordinary

SWAP

Decreasing Long

12,392

8.9500 GBP

0.25p ordinary

SWAP

Increasing Long

1,966

9.0787 GBP

0.25p ordinary

SWAP

Decreasing Long

1,036

9.0347 GBP

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class

Product

Writing,

Number

Exercise

Type

Expiry

Option

of

description

purchasing,

of

price

date

money

relevant

selling,

securities

per unit

paid/

security

varying etc

to which

received

option

per unit

relates

(ii)

Exercising

Class of relevant

Product description

Exercising/ exercised against

Number of

Exercise price per

security

securities

unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant

Nature of Dealings

Details

Price per unit (if

security

applicable)

4.

OTHER INFORMATION

(a)

Indemnity and other dealings arrangements

Details of any indemnity or option arrangement, or any agreement or understanding,

formal or informal, relating to relevant securities which may be an inducement to deal

or refrain from dealing entered into by the exempt principal trader making the disclosure and any party

to the offer or any person acting in concert with a party to the offer:

NONE

(b)

Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between

the exempt principal trader making the disclosure and any other person relating to:

(i) the voting rights of any relevant securities under any option; or

(ii) the voting rights of future acquisition or disposal of any relevant securities to which

any derivative is referenced:

NONE

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:

22 Jun 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213