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:

18 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:

1,150,817

1.28%

910,243

1.01%

(2)

Cash-settled derivatives:

and/or controlled:

900,449

1.00%

1,146,388

1.27%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,051,266

2.28%

2,056,631

2.28%

(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

152,271

9.1260 GBP

8.8700 GBP

0.25p ordinary

Sale

144,150

8.9802 GBP

8.8500 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

98

8.9550 GBP

0.25p ordinary

SWAP

Increasing Short

640

8.9554 GBP

0.25p ordinary

SWAP

Decreasing Long

89

8.9541 GBP

0.25p ordinary

SWAP

Increasing Long

571

8.9550 GBP

0.25p ordinary

SWAP

Opening Long

389

8.9402 GBP

0.25p ordinary

SWAP

Opening Long

111

8.9402 GBP

0.25p ordinary

SWAP

Decreasing Short

19

8.9799 GBP

0.25p ordinary

SWAP

Decreasing Long

59

9.0017 GBP

0.25p ordinary

SWAP

Increasing Long

1,881

8.9342 GBP

0.25p ordinary

SWAP

Increasing Long

244

8.9063 GBP

0.25p ordinary

SWAP

Increasing Long

501

8.9550 GBP

0.25p ordinary

SWAP

Decreasing Short

11,308

8.9550 GBP

0.25p ordinary

SWAP

Increasing Long

3,520

8.9550 GBP

0.25p ordinary

SWAP

Decreasing Long

3,239

8.9550 GBP

0.25p ordinary

SWAP

Decreasing Long

2,910

9.1040 GBP

0.25p ordinary

SWAP

Decreasing Long

48

8.9760 GBP

0.25p ordinary

SWAP

Decreasing Long

466

8.9570 GBP

0.25p ordinary

SWAP

Decreasing Long

73

8.9550 GBP

0.25p ordinary

SWAP

Increasing Short

1,348

9.0843 GBP

0.25p ordinary

SWAP

Decreasing Short

959

8.9550 GBP

0.25p ordinary

SWAP

Decreasing Long

3,015

8.9491 GBP

0.25p ordinary

SWAP

Decreasing Long

1,122

8.9491 GBP

0.25p ordinary

CFD

Decreasing Long

1,508

8.9576 GBP

0.25p ordinary

CFD

Decreasing Long

7,471

8.9550 GBP

0.25p ordinary

SWAP

Increasing Short

5,000

8.9268 GBP

0.25p ordinary

SWAP

Opening Long

2,212

8.9544 GBP

0.25p ordinary

SWAP

Closing Short

4,603

8.9544 GBP

0.25p ordinary

SWAP

Closing Long

284

8.9366 GBP

0.25p ordinary

SWAP

Decreasing Long

3,343

8.9367 GBP

0.25p ordinary

SWAP

Decreasing Long

660

8.9571 GBP

0.25p ordinary

SWAP

Increasing Long

3,087

8.9662 GBP

0.25p ordinary

SWAP

Decreasing Short

7,626

8.9536 GBP

0.25p ordinary

SWAP

Decreasing Long

30

8.9454 GBP

0.25p ordinary

SWAP

Decreasing Long

233

8.9734 GBP

0.25p ordinary

SWAP

Increasing Long

167

8.9750 GBP

0.25p ordinary

SWAP

Increasing Long

1,991

8.9802 GBP

0.25p ordinary

SWAP

Increasing Long

2,408

9.0733 GBP

0.25p ordinary

SWAP

Increasing Short

1,348

9.0971 GBP

0.25p ordinary

SWAP

Decreasing Short

2,606

8.9550 GBP

0.25p ordinary

CFD

Increasing Long

791

8.8878 GBP

0.25p ordinary

CFD

Decreasing Long

2

8.9550 GBP

0.25p ordinary

SWAP

Closing Long

2,212

8.9550 GBP

0.25p ordinary

SWAP

Opening Short

4,603

8.9550 GBP

0.25p ordinary

SWAP

Increasing Short

14

8.9704 GBP

0.25p ordinary

SWAP

Increasing Long

1,166

8.9694 GBP

0.25p ordinary

SWAP

Increasing Long

349

8.9550 GBP

0.25p ordinary

SWAP

Increasing Short

2,695

9.0988 GBP

0.25p ordinary

SWAP

Decreasing Short

674

8.9587 GBP

0.25p ordinary

CFD

Closing Long

3,204

8.9550 GBP

0.25p ordinary

CFD

Opening Short

12,262

8.9550 GBP

0.25p ordinary

SWAP

Increasing Long

1,443

8.9770 GBP

0.25p ordinary

SWAP

Decreasing Long

209

8.9242 GBP

0.25p ordinary

SWAP

Increasing Short

5,390

9.0756 GBP

0.25p ordinary

SWAP

Increasing Short

2,957

8.8988 GBP

0.25p ordinary

CFD

Closing Short

12,262

8.9550 GBP

0.25p ordinary

SWAP

Increasing Long

290

8.8500 GBP

0.25p ordinary

SWAP

Increasing Short

2,696

9.1263 GBP

0.25p ordinary

SWAP

Decreasing Short

3,056

8.9502 GBP

0.25p ordinary

SWAP

Increasing Long

926

8.9550 GBP

0.25p ordinary

SWAP

Increasing Short

1,025

8.8746 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:

19 Jun 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213