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:

01 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:

1,353,863

1.50%

1,082,283

1.20%

(2)

Cash-settled derivatives:

and/or controlled:

1,053,143

1.17%

1,353,044

1.50%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,407,006

2.66%

2,435,327

2.70%

(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

89,853

9.8404 GBP

9.5528 GBP

0.25p ordinary

Sale

184,735

9.8400 GBP

9.5400 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

192

9.8400 GBP

0.25p ordinary

SWAP

Increasing Short

233

9.5907 GBP

0.25p ordinary

SWAP

Increasing Long

2,135

9.6779 GBP

0.25p ordinary

SWAP

Increasing Short

1,751

9.6093 GBP

0.25p ordinary

SWAP

Increasing Short

129

9.6126 GBP

0.25p ordinary

SWAP

Decreasing Long

821

9.6302 GBP

0.25p ordinary

SWAP

Decreasing Short

650

9.8400 GBP

0.25p ordinary

SWAP

Opening Long

4,548

9.8400 GBP

0.25p ordinary

SWAP

Closing Short

1,259

9.8400 GBP

0.25p ordinary

SWAP

Opening Long

1,096

9.8400 GBP

0.25p ordinary

SWAP

Increasing Short

6,823

9.8400 GBP

0.25p ordinary

SWAP

Increasing Short

22

9.6165 GBP

0.25p ordinary

SWAP

Increasing Long

327

9.6750 GBP

0.25p ordinary

SWAP

Decreasing Long

3,331

9.6300 GBP

0.25p ordinary

SWAP

Increasing Long

2,011

9.6450 GBP

0.25p ordinary

SWAP

Increasing Long

15

9.6505 GBP

0.25p ordinary

SWAP

Decreasing Short

4

9.6149 GBP

0.25p ordinary

SWAP

Decreasing Long

233

9.8400 GBP

0.25p ordinary

SWAP

Increasing Long

1

9.6100 GBP

0.25p ordinary

SWAP

Increasing Long

2,930

9.8333 GBP

0.25p ordinary

SWAP

Increasing Long

779

9.8400 GBP

0.25p ordinary

SWAP

Decreasing Short

38,639

9.7189 GBP

0.25p ordinary

SWAP

Closing Short

2

9.6100 GBP

0.25p ordinary

SWAP

Increasing Long

928

9.5758 GBP

0.25p ordinary

SWAP

Increasing Long

345

9.5758 GBP

0.25p ordinary

CFD

Closing Short

681

9.8392 GBP

0.25p ordinary

CFD

Decreasing Short

1,500

9.7547 GBP

0.25p ordinary

CFD

Increasing Long

1,582

9.7150 GBP

0.25p ordinary

CFD

Increasing Short

750

9.5891 GBP

0.25p ordinary

SWAP

Decreasing Short

20

9.6190 GBP

0.25p ordinary

SWAP

Increasing Long

2,059

9.6450 GBP

0.25p ordinary

SWAP

Increasing Long

375

9.8120 GBP

0.25p ordinary

SWAP

Increasing Short

233

9.6085 GBP

0.25p ordinary

SWAP

Decreasing Long

193

9.6100 GBP

0.25p ordinary

SWAP

Increasing Short

4,755

9.6729 GBP

0.25p ordinary

SWAP

Decreasing Short

158

9.5958 GBP

0.25p ordinary

SWAP

Decreasing Short

1,146

9.7068 GBP

0.25p ordinary

SWAP

Increasing Long

78

9.7300 GBP

0.25p ordinary

SWAP

Decreasing Long

3,763

9.6325 GBP

0.25p ordinary

SWAP

Increasing Long

1,646

9.6300 GBP

0.25p ordinary

SWAP

Increasing Long

6,934

9.6644 GBP

0.25p ordinary

SWAP

Decreasing Long

233

9.6100 GBP

0.25p ordinary

SWAP

Increasing Long

7,864

9.7682 GBP

0.25p ordinary

SWAP

Decreasing Short

120

9.5750 GBP

0.25p ordinary

SWAP

Decreasing Long

8

9.8400 GBP

0.25p ordinary

SWAP

Decreasing Long

3

9.8400 GBP

0.25p ordinary

CFD

Decreasing Short

2,430

9.5783 GBP

0.25p ordinary

CFD

Increasing Short

5,300

9.5984 GBP

0.25p ordinary

SWAP

Increasing Long

1,685

9.6300 GBP

0.25p ordinary

SWAP

Increasing Short

233

9.6143 GBP

0.25p ordinary

SWAP

Closing Short

161

9.6877 GBP

0.25p ordinary

SWAP

Opening Long

606

9.6877 GBP

0.25p ordinary

SWAP

Increasing Long

75

9.7050 GBP

0.25p ordinary

SWAP

Decreasing Long

4,070

9.6450 GBP

0.25p ordinary

SWAP

Increasing Long

1,859

9.6325 GBP

0.25p ordinary

SWAP

Increasing Long

5,605

9.6425 GBP

0.25p ordinary

SWAP

Increasing Long

667

9.5846 GBP

0.25p ordinary

SWAP

Increasing Short

640

9.8400 GBP

0.25p ordinary

CFD

Decreasing Short

2,276

9.6699 GBP

0.25p ordinary

SWAP

Increasing Long

1,904

9.6325 GBP

0.25p ordinary

SWAP

Increasing Short

466

9.5528 GBP

0.25p ordinary

SWAP

Increasing Long

84

9.7175 GBP

0.25p ordinary

SWAP

Decreasing Long

73

9.6325 GBP

0.25p ordinary

SWAP

Increasing Long

36

9.6325 GBP

0.25p ordinary

SWAP

Increasing Long

10,433

9.6096 GBP

0.25p ordinary

SWAP

Decreasing Long

305

9.5851 GBP

0.25p ordinary

SWAP

Increasing Short

463

9.5797 GBP

0.25p ordinary

CFD

Closing Short

3,930

9.6126 GBP

0.25p ordinary

CFD

Opening Long

3,810

9.6126 GBP

0.25p ordinary

SWAP

Increasing Long

37

9.6325 GBP

0.25p ordinary

SWAP

Increasing Short

1,722

9.8404 GBP

0.25p ordinary

SWAP

Increasing Long

88

9.7175 GBP

0.25p ordinary

SWAP

Decreasing Long

4,860

9.6750 GBP

0.25p ordinary

SWAP

Increasing Long

2,208

9.6750 GBP

0.25p ordinary

SWAP

Increasing Long

995

9.5848 GBP

0.25p ordinary

SWAP

Decreasing Short

14,508

9.8400 GBP

0.25p ordinary

CFD

Decreasing Long

3,571

9.6399 GBP

0.25p ordinary

SWAP

Increasing Long

2,325

9.6750 GBP

0.25p ordinary

SWAP

Increasing Short

523

9.8404 GBP

0.25p ordinary

SWAP

Increasing Long

76

9.7335 GBP

0.25p ordinary

SWAP

Decreasing Long

1,248

9.7175 GBP

0.25p ordinary

SWAP

Increasing Long

567

9.7175 GBP

0.25p ordinary

SWAP

Decreasing Long

312

9.5587 GBP

0.25p ordinary

SWAP

Decreasing Short

561

9.6859 GBP

0.25p ordinary

CFD

Closing Long

239

9.8400 GBP

0.25p ordinary

SWAP

Increasing Long

597

9.7175 GBP

0.25p ordinary

SWAP

Decreasing Long

1,114

9.7050 GBP

0.25p ordinary

SWAP

Increasing Long

506

9.7050 GBP

0.25p ordinary

SWAP

Decreasing Long

323

9.5897 GBP

0.25p ordinary

SWAP

Decreasing Short

160

9.8150 GBP

0.25p ordinary

SWAP

Increasing Long

533

9.7050 GBP

0.25p ordinary

SWAP

Decreasing Long

78

9.7300 GBP

0.25p ordinary

SWAP

Increasing Long

599

9.7175 GBP

0.25p ordinary

SWAP

Increasing Long

10,481

9.8400 GBP

0.25p ordinary

SWAP

Increasing Short

909

9.6156 GBP

0.25p ordinary

SWAP

Increasing Long

631

9.7175 GBP

0.25p ordinary

SWAP

Decreasing Long

1,318

9.7175 GBP

0.25p ordinary

SWAP

Increasing Long

1,258

9.6163 GBP

0.25p ordinary

SWAP

Decreasing Long

5,544

9.5958 GBP

0.25p ordinary

SWAP

Increasing Short

411

9.6014 GBP

0.25p ordinary

SWAP

Increasing Long

1,282

9.6168 GBP

0.25p ordinary

SWAP

Decreasing Long

393

9.7930 GBP

0.25p ordinary

SWAP

Decreasing Long

270

9.5731 GBP

0.25p ordinary

SWAP

Increasing Short

1,292

9.5847 GBP

0.25p ordinary

SWAP

Decreasing Short

624

9.7522 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:

02 Jun 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213