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:

23 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:

1,110,172

1.23%

1,199,670

1.33%

(2)

Cash-settled derivatives:

and/or controlled:

1,149,003

1.28%

1,110,582

1.23%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,259,175

2.51%

2,310,252

2.57%

(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

151,591

9.1010 GBP

8.8000 GBP

0.25p ordinary

Sale

239,616

9.0350 GBP

8.8000 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

293

8.8000 GBP

0.25p ordinary

SWAP

Increasing Short

604

8.8004 GBP

0.25p ordinary

SWAP

Decreasing Long

1,379

8.8000 GBP

0.25p ordinary

SWAP

Increasing Short

1,127

8.8777 GBP

0.25p ordinary

SWAP

Decreasing Long

189

8.9228 GBP

0.25p ordinary

SWAP

Increasing Long

13,257

8.9561 GBP

0.25p ordinary

SWAP

Increasing Long

849

8.9422 GBP

0.25p ordinary

SWAP

Decreasing Long

2,316

8.8000 GBP

0.25p ordinary

SWAP

Decreasing Short

1,867

9.0550 GBP

0.25p ordinary

SWAP

Increasing Long

23,453

8.8000 GBP

0.25p ordinary

SWAP

Increasing Long

3,553

8.9038 GBP

0.25p ordinary

SWAP

Increasing Long

51,675

9.0072 GBP

0.25p ordinary

SWAP

Decreasing Long

1

8.9900 GBP

0.25p ordinary

SWAP

Increasing Long

95

8.8000 GBP

0.25p ordinary

SWAP

Increasing Long

9,826

8.7995 GBP

0.25p ordinary

SWAP

Decreasing Long

8,984

8.8004 GBP

0.25p ordinary

SWAP

Increasing Long

117

8.8081 GBP

0.25p ordinary

SWAP

Increasing Short

5,391

8.9262 GBP

0.25p ordinary

SWAP

Decreasing Short

446

8.9750 GBP

0.25p ordinary

SWAP

Closing Long

1

8.8000 GBP

0.25p ordinary

SWAP

Increasing Long

395

8.9071 GBP

0.25p ordinary

SWAP

Decreasing Long

161

8.8518 GBP

0.25p ordinary

CFD

Increasing Long

668

8.9329 GBP

0.25p ordinary

CFD

Decreasing Long

534

8.9512 GBP

0.25p ordinary

SWAP

Increasing Short

220

8.9340 GBP

0.25p ordinary

SWAP

Closing Long

931

8.8964 GBP

0.25p ordinary

SWAP

Decreasing Long

2,537

8.8964 GBP

0.25p ordinary

SWAP

Increasing Long

1,574

8.8935 GBP

0.25p ordinary

SWAP

Increasing Long

358

8.8000 GBP

0.25p ordinary

SWAP

Increasing Short

1,576

8.8004 GBP

0.25p ordinary

SWAP

Increasing Long

710

8.8621 GBP

0.25p ordinary

SWAP

Decreasing Short

238

9.0199 GBP

0.25p ordinary

SWAP

Decreasing Long

51

8.9808 GBP

0.25p ordinary

SWAP

Decreasing Long

14,948

8.8000 GBP

0.25p ordinary

SWAP

Decreasing Long

371

8.9233 GBP

0.25p ordinary

SWAP

Decreasing Long

378

8.8880 GBP

0.25p ordinary

SWAP

Increasing Long

1,947

8.8960 GBP

0.25p ordinary

SWAP

Decreasing Long

3,449

8.9985 GBP

0.25p ordinary

SWAP

Increasing Long

5

8.8947 GBP

0.25p ordinary

SWAP

Increasing Long

50

8.9048 GBP

0.25p ordinary

SWAP

Closing Long

23,965

8.8000 GBP

0.25p ordinary

SWAP

Decreasing Long

1,553

8.8082 GBP

0.25p ordinary

SWAP

Increasing Long

1

8.9798 GBP

0.25p ordinary

SWAP

Increasing Short

2,696

8.9701 GBP

0.25p ordinary

SWAP

Increasing Short

31

8.8000 GBP

0.25p ordinary

SWAP

Decreasing Long

430

8.8518 GBP

0.25p ordinary

SWAP

Increasing Long

147

8.9071 GBP

0.25p ordinary

CFD

Increasing Long

76

8.8994 GBP

0.25p ordinary

SWAP

Decreasing Short

220

8.8000 GBP

0.25p ordinary

SWAP

Closing Short

2,128

8.9525 GBP

0.25p ordinary

SWAP

Opening Long

23,656

8.9525 GBP

0.25p ordinary

SWAP

Decreasing Long

98

8.9804 GBP

0.25p ordinary

SWAP

Increasing Long

14,800

8.8377 GBP

0.25p ordinary

SWAP

Increasing Long

144

9.0350 GBP

0.25p ordinary

SWAP

Decreasing Long

51

8.9066 GBP

0.25p ordinary

SWAP

Increasing Long

11,736

8.9238 GBP

0.25p ordinary

SWAP

Increasing Short

5,390

8.9417 GBP

0.25p ordinary

SWAP

Increasing Short

3,234

8.8000 GBP

0.25p ordinary

SWAP

Increasing Long

299

8.9050 GBP

0.25p ordinary

SWAP

Increasing Long

578

8.9392 GBP

0.25p ordinary

SWAP

Increasing Long

93

8.8000 GBP

0.25p ordinary

SWAP

Increasing Short

5,391

8.9512 GBP

0.25p ordinary

SWAP

Decreasing Short

4,738

8.9399 GBP

0.25p ordinary

SWAP

Decreasing Long

126

8.8850 GBP

0.25p ordinary

SWAP

Increasing Short

5,391

8.9262 GBP

0.25p ordinary

SWAP

Decreasing Short

27,969

8.9139 GBP

0.25p ordinary

SWAP

Decreasing Long

3,333

8.8142 GBP

0.25p ordinary

SWAP

Increasing Short

5,390

9.1018 GBP

0.25p ordinary

SWAP

Increasing Long

264

8.9200 GBP

0.25p ordinary

SWAP

Decreasing Long

2,223

8.8000 GBP

0.25p ordinary

SWAP

Decreasing Long

12

8.8000 GBP

0.25p ordinary

SWAP

Increasing Long

5,649

8.9318 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:

24 Jun 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213