Gamma Communications Regulatory News (GAMA)

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 Jul 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:

885,754

0.99%

968,448

1.08%

(2)

Cash-settled derivatives:

and/or controlled:

930,187

1.04%

876,897

0.98%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,815,941

2.02%

1,845,345

2.05%

(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

148,041

8.6547 GBP

8.5470 GBP

0.25p ordinary

Sale

80,877

8.6800 GBP

8.5449 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

717

8.5714 GBP

0.25p ordinary

SWAP

Decreasing Short

4,991

8.5745 GBP

0.25p ordinary

SWAP

Increasing Long

95

8.6008 GBP

0.25p ordinary

SWAP

Increasing Long

330

8.5449 GBP

0.25p ordinary

SWAP

Closing Long

130

8.5962 GBP

0.25p ordinary

SWAP

Opening Short

38

8.5962 GBP

0.25p ordinary

SWAP

Closing Long

207

8.5898 GBP

0.25p ordinary

SWAP

Opening Short

66

8.5898 GBP

0.25p ordinary

SWAP

Closing Long

136

8.5967 GBP

0.25p ordinary

SWAP

Opening Short

151

8.5967 GBP

0.25p ordinary

SWAP

Increasing Long

2,301

8.5743 GBP

0.25p ordinary

SWAP

Increasing Long

229

8.6041 GBP

0.25p ordinary

SWAP

Increasing Long

176

8.5600 GBP

0.25p ordinary

SWAP

Opening Long

3,963

8.5750 GBP

0.25p ordinary

SWAP

Decreasing Short

5,494

8.5750 GBP

0.25p ordinary

SWAP

Decreasing Long

4,847

8.5750 GBP

0.25p ordinary

SWAP

Decreasing Long

9

8.5744 GBP

0.25p ordinary

SWAP

Decreasing Long

25

8.5744 GBP

0.25p ordinary

SWAP

Decreasing Long

3,308

8.5742 GBP

0.25p ordinary

SWAP

Decreasing Long

562

8.5732 GBP

0.25p ordinary

SWAP

Decreasing Long

10,379

8.5839 GBP

0.25p ordinary

SWAP

Decreasing Long

81

8.5744 GBP

0.25p ordinary

SWAP

Decreasing Long

885

8.5744 GBP

0.25p ordinary

SWAP

Increasing Short

671

8.5820 GBP

0.25p ordinary

SWAP

Decreasing Long

3,142

8.5830 GBP

0.25p ordinary

SWAP

Increasing Long

7,320

8.5750 GBP

0.25p ordinary

SWAP

Increasing Long

338

8.5750 GBP

0.25p ordinary

SWAP

Increasing Long

1

8.5900 GBP

0.25p ordinary

SWAP

Decreasing Long

5,673

8.5843 GBP

0.25p ordinary

SWAP

Decreasing Long

2,778

8.5913 GBP

0.25p ordinary

SWAP

Decreasing Long

768

8.5933 GBP

0.25p ordinary

SWAP

Increasing Short

14,062

8.5470 GBP

0.25p ordinary

SWAP

Decreasing Short

2,235

8.5751 GBP

0.25p ordinary

SWAP

Decreasing Long

70

8.5775 GBP

0.25p ordinary

SWAP

Increasing Long

114

8.6332 GBP

0.25p ordinary

CFD

Increasing Long

270

8.5966 GBP

0.25p ordinary

CFD

Decreasing Long

966

8.5949 GBP

0.25p ordinary

SWAP

Increasing Short

759

8.5973 GBP

0.25p ordinary

SWAP

Increasing Short

473

8.5962 GBP

0.25p ordinary

SWAP

Increasing Short

937

8.5755 GBP

0.25p ordinary

SWAP

Increasing Long

2,000

8.5944 GBP

0.25p ordinary

SWAP

Increasing Short

378

8.5754 GBP

0.25p ordinary

SWAP

Decreasing Long

95

8.5750 GBP

0.25p ordinary

SWAP

Increasing Long

1,078

8.5749 GBP

0.25p ordinary

SWAP

Decreasing Long

100

8.6450 GBP

0.25p ordinary

SWAP

Decreasing Long

80

8.5750 GBP

0.25p ordinary

SWAP

Increasing Long

1,536

8.5720 GBP

0.25p ordinary

SWAP

Decreasing Long

4,358

8.5926 GBP

0.25p ordinary

SWAP

Increasing Long

817

8.5753 GBP

0.25p ordinary

SWAP

Increasing Short

1,676

8.6077 GBP

0.25p ordinary

SWAP

Increasing Long

306

8.6332 GBP

0.25p ordinary

SWAP

Decreasing Long

26

8.5775 GBP

0.25p ordinary

SWAP

Decreasing Long

601

8.5664 GBP

0.25p ordinary

SWAP

Decreasing Long

328

8.5949 GBP

0.25p ordinary

SWAP

Decreasing Long

1,587

8.6016 GBP

0.25p ordinary

SWAP

Increasing Long

163

8.6125 GBP

0.25p ordinary

SWAP

Increasing Short

12,963

8.5750 GBP

0.25p ordinary

SWAP

Decreasing Long

2,164

8.6378 GBP

0.25p ordinary

SWAP

Decreasing Long

1,724

8.6093 GBP

0.25p ordinary

SWAP

Increasing Short

2,208

8.5885 GBP

0.25p ordinary

SWAP

Decreasing Long

524

8.6298 GBP

0.25p ordinary

SWAP

Increasing Short

636

8.6054 GBP

0.25p ordinary

SWAP

Decreasing Long

166

8.6547 GBP

0.25p ordinary

SWAP

Increasing Short

5,732

8.5979 GBP

0.25p ordinary

SWAP

Decreasing Long

7,722

8.5750 GBP

0.25p ordinary

SWAP

Decreasing Long

1,937

8.5934 GBP

0.25p ordinary

SWAP

Decreasing Long

453

8.5903 GBP

0.25p ordinary

SWAP

Increasing Long

335

8.6158 GBP

0.25p ordinary

SWAP

Decreasing Long

7,042

8.5925 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 Jul 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213