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:

26 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:

759,781

0.85%

1,366,629

1.52%

(2)

Cash-settled derivatives:

and/or controlled:

1,338,873

1.49%

753,055

0.84%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,098,654

2.33%

2,119,684

2.36%

(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

99,951

8.4725 GBP

8.2691 GBP

0.25p ordinary

Sale

261,052

8.4725 GBP

8.2700 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

45

8.4250 GBP

0.25p ordinary

SWAP

Increasing Short

1,486

8.4254 GBP

0.25p ordinary

SWAP

Increasing Long

15

8.4250 GBP

0.25p ordinary

SWAP

Increasing Long

430

8.4250 GBP

0.25p ordinary

SWAP

Increasing Long

22,135

8.3333 GBP

0.25p ordinary

SWAP

Decreasing Long

32

8.3300 GBP

0.25p ordinary

SWAP

Decreasing Long

63

8.4052 GBP

0.25p ordinary

SWAP

Decreasing Long

62

8.3300 GBP

0.25p ordinary

SWAP

Decreasing Short

5,539

8.4250 GBP

0.25p ordinary

SWAP

Closing Long

74

8.4259 GBP

0.25p ordinary

SWAP

Opening Short

248

8.4250 GBP

0.25p ordinary

SWAP

Increasing Long

9,250

8.4250 GBP

0.25p ordinary

SWAP

Decreasing Long

12

8.4367 GBP

0.25p ordinary

SWAP

Decreasing Long

33

8.4367 GBP

0.25p ordinary

SWAP

Decreasing Long

1,070

8.4197 GBP

0.25p ordinary

SWAP

Decreasing Long

607

8.4366 GBP

0.25p ordinary

SWAP

Decreasing Long

110

8.4367 GBP

0.25p ordinary

SWAP

Decreasing Long

1,199

8.4367 GBP

0.25p ordinary

SWAP

Increasing Long

485

8.3683 GBP

0.25p ordinary

SWAP

Increasing Long

5,592

8.4163 GBP

0.25p ordinary

SWAP

Decreasing Long

174

8.4600 GBP

0.25p ordinary

SWAP

Increasing Long

82

8.3352 GBP

0.25p ordinary

SWAP

Decreasing Long

278

8.4331 GBP

0.25p ordinary

SWAP

Closing Short

98,509

8.3951 GBP

0.25p ordinary

SWAP

Increasing Long

325

8.4245 GBP

0.25p ordinary

SWAP

Decreasing Long

94

8.4250 GBP

0.25p ordinary

SWAP

Decreasing Short

20,502

8.3690 GBP

0.25p ordinary

SWAP

Opening Short

70

8.4250 GBP

0.25p ordinary

SWAP

Decreasing Long

3,378

8.4049 GBP

0.25p ordinary

SWAP

Decreasing Long

1,256

8.4049 GBP

0.25p ordinary

CFD

Closing Short

2,541

8.4400 GBP

0.25p ordinary

CFD

Increasing Long

1,252

8.2956 GBP

0.25p ordinary

SWAP

Increasing Short

1,352

8.3762 GBP

0.25p ordinary

SWAP

Decreasing Short

4,000

8.4091 GBP

0.25p ordinary

SWAP

Decreasing Short

9

8.4494 GBP

0.25p ordinary

SWAP

Decreasing Long

5,851

8.3757 GBP

0.25p ordinary

SWAP

Increasing Long

2,000

8.4089 GBP

0.25p ordinary

SWAP

Increasing Long

120

8.4250 GBP

0.25p ordinary

SWAP

Increasing Short

1,143

8.4254 GBP

0.25p ordinary

SWAP

Decreasing Long

15

8.3450 GBP

0.25p ordinary

SWAP

Increasing Long

1,011

8.4541 GBP

0.25p ordinary

SWAP

Increasing Long

7,805

8.4141 GBP

0.25p ordinary

SWAP

Increasing Long

633

8.3685 GBP

0.25p ordinary

SWAP

Decreasing Long

92

8.2933 GBP

0.25p ordinary

SWAP

Decreasing Long

2,216

8.4281 GBP

0.25p ordinary

SWAP

Decreasing Long

33

8.4253 GBP

0.25p ordinary

SWAP

Decreasing Long

4,349

8.3843 GBP

0.25p ordinary

SWAP

Decreasing Long

49

8.2751 GBP

0.25p ordinary

SWAP

Decreasing Short

1,288

8.3666 GBP

0.25p ordinary

SWAP

Decreasing Short

44

8.4594 GBP

0.25p ordinary

SWAP

Decreasing Long

173

8.2936 GBP

0.25p ordinary

SWAP

Increasing Long

150

8.3750 GBP

0.25p ordinary

SWAP

Increasing Long

6,604

8.4027 GBP

0.25p ordinary

SWAP

Decreasing Short

328

8.3400 GBP

0.25p ordinary

SWAP

Decreasing Short

162

8.3655 GBP

0.25p ordinary

SWAP

Increasing Long

1,156

8.4234 GBP

0.25p ordinary

SWAP

Decreasing Long

126

8.3550 GBP

0.25p ordinary

SWAP

Decreasing Long

154

8.4250 GBP

0.25p ordinary

SWAP

Decreasing Short

582

8.3524 GBP

0.25p ordinary

SWAP

Decreasing Short

681

8.3205 GBP

0.25p ordinary

SWAP

Increasing Long

1,371

8.3762 GBP

0.25p ordinary

SWAP

Decreasing Long

2,375

8.4250 GBP

0.25p ordinary

SWAP

Increasing Short

86

8.4250 GBP

0.25p ordinary

SWAP

Decreasing Short

192

8.3178 GBP

0.25p ordinary

SWAP

Increasing Long

32

8.4350 GBP

0.25p ordinary

SWAP

Decreasing Long

172

8.4250 GBP

0.25p ordinary

SWAP

Decreasing Short

125

8.4725 GBP

0.25p ordinary

SWAP

Decreasing Short

290

8.3662 GBP

0.25p ordinary

SWAP

Decreasing Long

3,058

8.3732 GBP

0.25p ordinary

SWAP

Increasing Long

249

8.4050 GBP

0.25p ordinary

SWAP

Increasing Short

1,813

8.4250 GBP

0.25p ordinary

SWAP

Decreasing Short

1,578

8.4244 GBP

0.25p ordinary

SWAP

Decreasing Long

6,562

8.3621 GBP

0.25p ordinary

SWAP

Increasing Short

472

8.4250 GBP

0.25p ordinary

SWAP

Decreasing Short

377

8.4244 GBP

0.25p ordinary

SWAP

Increasing Long

29,810

8.4073 GBP

0.25p ordinary

SWAP

Decreasing Short

565

8.3865 GBP

0.25p ordinary

SWAP

Increasing Short

3,333

8.4250 GBP

0.25p ordinary

SWAP

Decreasing Long

18,144

8.3515 GBP

0.25p ordinary

SWAP

Increasing Short

6,328

8.3226 GBP

0.25p ordinary

SWAP

Decreasing Short

5,957

8.4227 GBP

0.25p ordinary

SWAP

Increasing Short

9,375

8.3753 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:

29 Jun 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213