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:

02 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:

1,332,054

1.48%

1,199,301

1.33%

(2)

Cash-settled derivatives:

and/or controlled:

1,172,715

1.30%

1,331,325

1.47%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,504,769

2.77%

2,530,626

2.80%

(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

79,244

9.9000 GBP

9.6250 GBP

0.25p ordinary

Sale

218,071

9.9000 GBP

9.6250 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

Increasing Long

155

9.6250 GBP

0.25p ordinary

SWAP

Increasing Short

669

9.6254 GBP

0.25p ordinary

SWAP

Increasing Long

868

9.6308 GBP

0.25p ordinary

SWAP

Increasing Long

406

9.6250 GBP

0.25p ordinary

SWAP

Increasing Short

818

9.6924 GBP

0.25p ordinary

SWAP

Increasing Short

92

9.7532 GBP

0.25p ordinary

SWAP

Decreasing Long

411

9.7480 GBP

0.25p ordinary

SWAP

Increasing Long

3,684

9.6250 GBP

0.25p ordinary

SWAP

Closing Long

4,548

9.7664 GBP

0.25p ordinary

SWAP

Opening Short

156

9.7664 GBP

0.25p ordinary

SWAP

Closing Long

1,096

9.6250 GBP

0.25p ordinary

SWAP

Opening Short

7,618

9.6250 GBP

0.25p ordinary

SWAP

Decreasing Short

2,337

9.6250 GBP

0.25p ordinary

SWAP

Decreasing Short

15

9.6335 GBP

0.25p ordinary

SWAP

Increasing Long

23

9.6284 GBP

0.25p ordinary

SWAP

Increasing Long

61

9.6282 GBP

0.25p ordinary

SWAP

Increasing Long

4,643

9.6288 GBP

0.25p ordinary

SWAP

Increasing Long

768

9.6284 GBP

0.25p ordinary

SWAP

Increasing Long

3,229

9.6434 GBP

0.25p ordinary

SWAP

Increasing Long

202

9.6287 GBP

0.25p ordinary

SWAP

Increasing Long

2,241

9.6288 GBP

0.25p ordinary

SWAP

Increasing Long

4,333

9.6546 GBP

0.25p ordinary

SWAP

Increasing Long

4

9.6300 GBP

0.25p ordinary

SWAP

Closing Short

5

9.6250 GBP

0.25p ordinary

SWAP

Opening Long

9

9.6250 GBP

0.25p ordinary

SWAP

Decreasing Long

1,018

9.5958 GBP

0.25p ordinary

SWAP

Increasing Long

570

9.6250 GBP

0.25p ordinary

SWAP

Increasing Long

588

9.6416 GBP

0.25p ordinary

SWAP

Opening Short

8,596

9.6430 GBP

0.25p ordinary

SWAP

Increasing Long

328

9.6268 GBP

0.25p ordinary

SWAP

Decreasing Short

26,377

9.6580 GBP

0.25p ordinary

SWAP

Opening Long

2

9.9000 GBP

0.25p ordinary

SWAP

Decreasing Long

101

9.6250 GBP

0.25p ordinary

SWAP

Increasing Long

244

9.6960 GBP

0.25p ordinary

CFD

Decreasing Long

56

9.8305 GBP

0.25p ordinary

SWAP

Increasing Long

4,714

9.6546 GBP

0.25p ordinary

SWAP

Increasing Long

1,214

9.6252 GBP

0.25p ordinary

SWAP

Increasing Short

1,516

9.6254 GBP

0.25p ordinary

SWAP

Decreasing Long

165

9.9000 GBP

0.25p ordinary

SWAP

Increasing Short

1,150

9.7953 GBP

0.25p ordinary

SWAP

Decreasing Short

128

9.8082 GBP

0.25p ordinary

SWAP

Increasing Long

1,143

9.6518 GBP

0.25p ordinary

SWAP

Closing Short

156

9.6250 GBP

0.25p ordinary

SWAP

Opening Long

58

9.6250 GBP

0.25p ordinary

SWAP

Increasing Long

16,564

9.6945 GBP

0.25p ordinary

SWAP

Increasing Long

2,148

9.6542 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.8100 GBP

0.25p ordinary

SWAP

Increasing Long

1

9.8573 GBP

0.25p ordinary

SWAP

Increasing Short

1,143

9.7204 GBP

0.25p ordinary

SWAP

Decreasing Short

176

9.7950 GBP

0.25p ordinary

SWAP

Increasing Long

655

9.6960 GBP

0.25p ordinary

SWAP

Decreasing Long

38

9.6250 GBP

0.25p ordinary

CFD

Increasing Long

853

9.6475 GBP

0.25p ordinary

SWAP

Increasing Long

154

9.6450 GBP

0.25p ordinary

SWAP

Closing Long

58

9.7117 GBP

0.25p ordinary

SWAP

Increasing Long

190

9.6472 GBP

0.25p ordinary

SWAP

Increasing Long

414

9.6269 GBP

0.25p ordinary

SWAP

Increasing Long

1

9.8848 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.8851 GBP

0.25p ordinary

SWAP

Decreasing Short

7,568

9.6559 GBP

0.25p ordinary

SWAP

Decreasing Short

84

9.6337 GBP

0.25p ordinary

SWAP

Decreasing Long

50

9.8500 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.8576 GBP

0.25p ordinary

SWAP

Closing Short

2,171

9.6250 GBP

0.25p ordinary

SWAP

Opening Long

53,459

9.6250 GBP

0.25p ordinary

SWAP

Increasing Short

444

9.6250 GBP

0.25p ordinary

SWAP

Increasing Long

456

9.7009 GBP

0.25p ordinary

SWAP

Increasing Long

20,046

9.6250 GBP

0.25p ordinary

SWAP

Decreasing Short

1,554

9.6250 GBP

0.25p ordinary

SWAP

Increasing Long

68

9.6400 GBP

0.25p ordinary

SWAP

Increasing Long

1,302

9.6250 GBP

0.25p ordinary

SWAP

Decreasing Short

138

9.6375 GBP

0.25p ordinary

SWAP

Decreasing Long

162

9.6250 GBP

0.25p ordinary

SWAP

Decreasing Short

1,236

9.6573 GBP

0.25p ordinary

SWAP

Decreasing Long

1,907

9.6275 GBP

0.25p ordinary

SWAP

Decreasing Short

1,976

9.7336 GBP

0.25p ordinary

SWAP

Decreasing Long

113

9.8200 GBP

0.25p ordinary

SWAP

Increasing Long

388

9.7375 GBP

0.25p ordinary

SWAP

Increasing Long

834

9.6629 GBP

0.25p ordinary

SWAP

Decreasing Long

321

9.8050 GBP

0.25p ordinary

SWAP

Decreasing Long

2,839

9.7307 GBP

0.25p ordinary

SWAP

Increasing Long

5,438

9.7603 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:

03 Jun 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213