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:

25 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:

876,039

0.97%

1,321,786

1.47%

(2)

Cash-settled derivatives:

and/or controlled:

1,300,222

1.45%

870,618

0.97%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,176,261

2.42%

2,192,404

2.44%

(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

315,118

8.5325 GBP

7.9510 GBP

0.25p ordinary

Sale

131,478

8.5336 GBP

8.3552 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

336

8.3850 GBP

0.25p ordinary

SWAP

Increasing Short

1,325

8.3854 GBP

0.25p ordinary

SWAP

Increasing Long

1,753

8.4979 GBP

0.25p ordinary

SWAP

Increasing Long

2,813

8.4801 GBP

0.25p ordinary

SWAP

Increasing Long

1,318

8.4159 GBP

0.25p ordinary

SWAP

Increasing Long

747

8.4384 GBP

0.25p ordinary

SWAP

Decreasing Long

678

8.4918 GBP

0.25p ordinary

SWAP

Increasing Short

2,579

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Short

228

8.4023 GBP

0.25p ordinary

SWAP

Increasing Long

2,351

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Long

26

8.4114 GBP

0.25p ordinary

SWAP

Decreasing Long

69

8.4106 GBP

0.25p ordinary

SWAP

Decreasing Long

912

8.3888 GBP

0.25p ordinary

SWAP

Decreasing Long

227

8.4104 GBP

0.25p ordinary

SWAP

Decreasing Long

2,473

8.4104 GBP

0.25p ordinary

SWAP

Increasing Long

9,779

8.3850 GBP

0.25p ordinary

SWAP

Opening Long

4

8.4712 GBP

0.25p ordinary

SWAP

Decreasing Long

1,390

8.3697 GBP

0.25p ordinary

SWAP

Increasing Long

3,054

8.4122 GBP

0.25p ordinary

SWAP

Increasing Long

1,653

8.4263 GBP

0.25p ordinary

SWAP

Increasing Long

10,516

8.3845 GBP

0.25p ordinary

SWAP

Decreasing Long

1,388

8.3854 GBP

0.25p ordinary

SWAP

Increasing Long

294

8.4562 GBP

0.25p ordinary

SWAP

Increasing Short

2,696

8.1284 GBP

0.25p ordinary

SWAP

Increasing Short

173,291

8.4650 GBP

0.25p ordinary

SWAP

Closing Short

4

8.3850 GBP

0.25p ordinary

SWAP

Opening Long

1

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Long

4,093

8.4394 GBP

0.25p ordinary

SWAP

Decreasing Long

1,521

8.4394 GBP

0.25p ordinary

CFD

Decreasing Long

123

8.3304 GBP

0.25p ordinary

SWAP

Increasing Short

1,501

8.4402 GBP

0.25p ordinary

SWAP

Decreasing Short

99

8.4444 GBP

0.25p ordinary

SWAP

Closing Long

2,016

8.4411 GBP

0.25p ordinary

SWAP

Decreasing Long

532

8.3926 GBP

0.25p ordinary

SWAP

Increasing Short

445

8.3854 GBP

0.25p ordinary

SWAP

Decreasing Long

168

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Long

485

8.3891 GBP

0.25p ordinary

SWAP

Decreasing Long

2,425

8.3850 GBP

0.25p ordinary

SWAP

Closing Short

53

8.4218 GBP

0.25p ordinary

SWAP

Opening Long

74

8.4218 GBP

0.25p ordinary

SWAP

Decreasing Long

3,206

8.4603 GBP

0.25p ordinary

SWAP

Increasing Long

8,379

8.0938 GBP

0.25p ordinary

SWAP

Decreasing Long

4,161

8.3744 GBP

0.25p ordinary

SWAP

Increasing Short

2,695

7.9511 GBP

0.25p ordinary

SWAP

Increasing Short

46,985

8.4650 GBP

0.25p ordinary

SWAP

Closing Long

1

8.4000 GBP

0.25p ordinary

SWAP

Increasing Short

99

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Long

231

8.3350 GBP

0.25p ordinary

SWAP

Decreasing Long

12,784

8.4512 GBP

0.25p ordinary

SWAP

Decreasing Long

53,355

8.3025 GBP

0.25p ordinary

SWAP

Increasing Long

6,425

8.4805 GBP

0.25p ordinary

SWAP

Increasing Short

2,696

8.0356 GBP

0.25p ordinary

SWAP

Decreasing Short

44,296

8.4346 GBP

0.25p ordinary

SWAP

Increasing Long

61,699

8.0481 GBP

0.25p ordinary

SWAP

Increasing Long

1,263

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Short

2,594

8.4544 GBP

0.25p ordinary

SWAP

Increasing Long

1,294

8.3850 GBP

0.25p ordinary

SWAP

Increasing Short

665

8.5089 GBP

0.25p ordinary

SWAP

Decreasing Long

257

8.4459 GBP

0.25p ordinary

SWAP

Decreasing Short

1,937

8.4559 GBP

0.25p ordinary

SWAP

Increasing Long

176

8.4566 GBP

0.25p ordinary

SWAP

Decreasing Short

1,760

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Long

3,654

8.3945 GBP

0.25p ordinary

SWAP

Increasing Short

659

8.3850 GBP

0.25p ordinary

SWAP

Increasing Long

254

8.4900 GBP

0.25p ordinary

SWAP

Increasing Short

3,721

8.4384 GBP

0.25p ordinary

SWAP

Decreasing Long

239

8.3850 GBP

0.25p ordinary

SWAP

Increasing Short

11,694

8.4475 GBP

0.25p ordinary

SWAP

Increasing Long

1,044

8.4352 GBP

0.25p ordinary

SWAP

Decreasing Long

3,847

8.4668 GBP

0.25p ordinary

SWAP

Increasing Long

21,793

8.4633 GBP

0.25p ordinary

SWAP

Decreasing Long

7,360

8.4396 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:

26 Jun 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213