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Transaction in Own Shares

Today 07:00

RNS Number : 6376J
Gamma Communications PLC
25 June 2026
 

25 June 2026

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

Gamma Communications plc

 

Transaction in Own Shares and Rule 2.9 Announcement

 

Gamma Communications plc ("Gamma" or the "Company") announces today that in accordance with the terms of its share buyback programme announced on 13 January 2026 (the "Buyback Programme"), it has purchased the following number of its ordinary shares of 0.25 pence each ("ordinary shares") through Investec Bank plc ("Investec").

 

Ordinary shares

Date of purchase:

24 June 2026

Number of ordinary shares purchased:

23,500

Lowest price per share (pence):

779.50

Highest price per share (pence):

878.00

Weighted average price per day (pence):

830.6966

 

 The Company intends to cancel the purchased ordinary shares.

 

Following settlement of the above purchases, Gamma has purchased a total of 2,281,251 ordinary shares since the commencement of the buyback programme and will have 91,483,100 ordinary shares in issue. There are 1,533,963 ordinary shares held in treasury. The total voting rights in the Company are therefore 89,949,137 and this can be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

Rule 2.9

The Company announced on 7 April 2026 that it had entered into an offer period. The ordinary shares are relevant securities of Gamma for the purposes of Rule 8 of The City Code on Takeovers and Mergers (the "Code"). In accordance with Rule 2.9 of the Code, the Company confirms that it has 89,949,137 ordinary shares in issue (excluding treasury shares) as at the date and time of this announcement. The ordinary shares are voting shares (each such ordinary share carries one vote per ordinary share) and are admitted to trading on the main market of the London Stock Exchange under the International Securities Identification Number GB00BQS10J50 and the Company's LEI number is 213800LAQZXPRIZUEH50.

 

Aggregate information:

Venue

Volume-weighted average price (p)

Aggregated volume

Lowest price per share (p)

Highest price per share (p)

XLON

830.6966

23,500

779.50

878.00

 

 

Schedule of Purchases - Individual Transactions

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 as it forms part of UK law, a full breakdown of the individual trades made by Investec on behalf of the Company as part of the Programme is found below.

 

Date and time of each trade

Number of shares purchased

Price (pence per share)

Trading Venue

Transaction Reference Number

24 June 2026 08:08:33

85

875.00

XLON

00400982662TRLO1

24 June 2026 08:08:35

42

877.00

XLON

00400982704TRLO1

24 June 2026 08:09:04

47

877.00

XLON

00400983140TRLO1

24 June 2026 08:09:04

42

877.00

XLON

00400983141TRLO1

24 June 2026 08:09:06

52

874.00

XLON

00400983184TRLO1

24 June 2026 08:09:08

41

874.00

XLON

00400983224TRLO1

24 June 2026 08:11:21

85

874.00

XLON

00400985488TRLO1

24 June 2026 08:11:32

91

874.50

XLON

00400985667TRLO1

24 June 2026 08:15:38

55

871.00

XLON

00400990047TRLO1

24 June 2026 08:19:01

77

869.00

XLON

00400994351TRLO1

24 June 2026 08:20:30

91

870.00

XLON

00400995891TRLO1

24 June 2026 08:23:15

85

868.50

XLON

00400998852TRLO1

24 June 2026 08:23:17

92

865.50

XLON

00400998878TRLO1

24 June 2026 08:25:28

90

868.50

XLON

00401001624TRLO1

24 June 2026 08:26:31

91

868.50

XLON

00401002904TRLO1

24 June 2026 08:26:31

2

868.50

XLON

00401002905TRLO1

24 June 2026 08:30:52

169

869.00

XLON

00401009616TRLO1

24 June 2026 08:36:35

87

869.50

XLON

00401019794TRLO1

24 June 2026 08:45:34

90

869.50

XLON

00401034487TRLO1

24 June 2026 08:45:34

89

869.50

XLON

00401034488TRLO1

24 June 2026 09:09:58

5

874.00

XLON

00401077931TRLO1

24 June 2026 09:19:49

86

874.00

XLON

00401096135TRLO1

24 June 2026 09:19:50

90

874.00

XLON

00401096178TRLO1

24 June 2026 09:19:57

90

872.50

XLON

00401096377TRLO1

24 June 2026 09:20:03

154

872.50

XLON

00401096590TRLO1

24 June 2026 09:33:14

19

875.00

XLON

00401122446TRLO1

24 June 2026 09:33:14

22

875.00

XLON

00401122447TRLO1

24 June 2026 09:37:10

86

874.50

XLON

00401130413TRLO1

24 June 2026 09:37:10

86

874.50

XLON

00401130414TRLO1

24 June 2026 09:54:34

93

878.00

XLON

00401167069TRLO1

24 June 2026 09:54:34

100

875.50

XLON

00401167070TRLO1

24 June 2026 09:54:34

1,137

876.00

XLON

00401167071TRLO1

24 June 2026 09:54:34

254

875.50

XLON

00401167072TRLO1

24 June 2026 09:54:34

170

874.00

XLON

00401167097TRLO1

24 June 2026 09:54:34

253

874.00

XLON

00401167098TRLO1

24 June 2026 09:54:34

169

874.00

XLON

00401167099TRLO1

24 June 2026 09:54:34

88

871.50

XLON

00401167103TRLO1

24 June 2026 09:54:34

89

866.00

XLON

00401167104TRLO1

24 June 2026 09:54:37

89

858.50

XLON

00401167224TRLO1

24 June 2026 09:54:48

92

818.50

XLON

00401167532TRLO1

24 June 2026 09:54:57

92

837.50

XLON

00401167780TRLO1

24 June 2026 09:55:14

86

833.00

XLON

00401168436TRLO1

24 June 2026 09:55:14

87

831.00

XLON

00401168437TRLO1

24 June 2026 09:55:15

87

829.00

XLON

00401168486TRLO1

24 June 2026 09:55:20

87

818.00

XLON

00401168624TRLO1

24 June 2026 09:55:31

92

825.00

XLON

00401169039TRLO1

24 June 2026 09:55:36

85

833.50

XLON

00401169208TRLO1

24 June 2026 09:56:07

90

828.00

XLON

00401170395TRLO1

24 June 2026 09:56:32

14

836.00

XLON

00401171331TRLO1

24 June 2026 09:56:48

89

837.50

XLON

00401171884TRLO1

24 June 2026 09:58:07

92

834.00

XLON

00401174914TRLO1

24 June 2026 09:58:39

91

822.50

XLON

00401176337TRLO1

24 June 2026 09:59:41

12

824.50

XLON

00401178772TRLO1

24 June 2026 09:59:41

62

824.50

XLON

00401178773TRLO1

24 June 2026 09:59:41

14

824.50

XLON

00401178774TRLO1

24 June 2026 10:00:14

86

835.00

XLON

00401179872TRLO1

24 June 2026 10:00:56

92

839.00

XLON

00401181934TRLO1

24 June 2026 10:01:16

89

836.00

XLON

00401183058TRLO1

24 June 2026 10:01:59

87

828.50

XLON

00401184791TRLO1

24 June 2026 10:02:21

92

824.00

XLON

00401185497TRLO1

24 June 2026 10:02:56

90

824.50

XLON

00401186927TRLO1

24 June 2026 10:06:02

92

807.00

XLON

00401194127TRLO1

24 June 2026 10:07:24

89

803.00

XLON

00401197450TRLO1

24 June 2026 10:07:24

90

797.50

XLON

00401197451TRLO1

24 June 2026 10:07:24

69

795.00

XLON

00401197452TRLO1

24 June 2026 10:07:24

21

795.00

XLON

00401197453TRLO1

24 June 2026 10:14:09

89

784.00

XLON

00401214080TRLO1

24 June 2026 10:14:09

88

784.00

XLON

00401214081TRLO1

24 June 2026 10:14:09

1

779.50

XLON

00401214082TRLO1

24 June 2026 10:15:27

261

810.00

XLON

00401216801TRLO1

24 June 2026 10:19:10

91

810.50

XLON

00401224383TRLO1

24 June 2026 10:19:10

91

810.50

XLON

00401224384TRLO1

24 June 2026 10:24:23

174

797.50

XLON

00401235294TRLO1

24 June 2026 10:29:52

89

798.00

XLON

00401248007TRLO1

24 June 2026 10:31:10

2

795.50

XLON

00401251328TRLO1

24 June 2026 10:31:10

258

795.50

XLON

00401251329TRLO1

24 June 2026 10:42:06

85

785.50

XLON

00401275862TRLO1

24 June 2026 10:44:22

85

780.00

XLON

00401280959TRLO1

24 June 2026 10:44:22

85

780.00

XLON

00401280960TRLO1

24 June 2026 10:47:17

339

785.50

XLON

00401288583TRLO1

24 June 2026 10:55:37

136

803.50

XLON

00401303594TRLO1

24 June 2026 10:55:37

48

803.50

XLON

00401303595TRLO1

24 June 2026 10:55:37

92

803.50

XLON

00401303596TRLO1

24 June 2026 11:03:12

89

817.50

XLON

00401308393TRLO1

24 June 2026 11:10:08

86

831.50

XLON

00401308626TRLO1

24 June 2026 11:10:13

88

830.00

XLON

00401308627TRLO1

24 June 2026 11:11:59

47

823.00

XLON

00401308646TRLO1

24 June 2026 11:11:59

43

823.00

XLON

00401308647TRLO1

24 June 2026 11:13:24

88

815.50

XLON

00401308673TRLO1

24 June 2026 11:20:17

92

802.00

XLON

00401308874TRLO1

24 June 2026 11:20:17

92

803.00

XLON

00401308875TRLO1

24 June 2026 11:23:29

92

820.00

XLON

00401308921TRLO1

24 June 2026 11:25:48

90

815.50

XLON

00401309008TRLO1

24 June 2026 11:29:10

90

810.00

XLON

00401309108TRLO1

24 June 2026 11:37:57

87

804.50

XLON

00401309361TRLO1

24 June 2026 11:42:42

88

803.00

XLON

00401309563TRLO1

24 June 2026 11:48:34

182

803.50

XLON

00401310155TRLO1

24 June 2026 11:50:05

91

803.50

XLON

00401310213TRLO1

24 June 2026 11:58:39

92

803.50

XLON

00401310420TRLO1

24 June 2026 11:59:26

86

801.00

XLON

00401310438TRLO1

24 June 2026 11:59:26

18

799.50

XLON

00401310439TRLO1

24 June 2026 12:07:55

91

803.50

XLON

00401310786TRLO1

24 June 2026 12:13:38

87

804.00

XLON

00401311033TRLO1

24 June 2026 12:13:38

88

804.00

XLON

00401311034TRLO1

24 June 2026 12:15:12

179

804.00

XLON

00401311072TRLO1

24 June 2026 12:19:10

85

802.50

XLON

00401311279TRLO1

24 June 2026 12:26:07

92

804.00

XLON

00401311525TRLO1

24 June 2026 12:26:07

92

804.00

XLON

00401311526TRLO1

24 June 2026 12:54:14

92

818.50

XLON

00401312639TRLO1

24 June 2026 12:54:14

85

817.50

XLON

00401312640TRLO1

24 June 2026 13:14:01

89

819.00

XLON

00401313469TRLO1

24 June 2026 13:17:10

87

816.50

XLON

00401313623TRLO1

24 June 2026 13:32:24

184

819.00

XLON

00401314254TRLO1

24 June 2026 13:37:58

85

823.00

XLON

00401314440TRLO1

24 June 2026 13:40:11

90

821.50

XLON

00401314514TRLO1

24 June 2026 13:44:54

87

822.50

XLON

00401314764TRLO1

24 June 2026 13:49:50

85

820.00

XLON

00401314906TRLO1

24 June 2026 13:56:01

259

820.50

XLON

00401315123TRLO1

24 June 2026 14:05:17

92

833.50

XLON

00401315727TRLO1

24 June 2026 14:05:17

92

831.50

XLON

00401315728TRLO1

24 June 2026 14:07:07

93

830.00

XLON

00401315855TRLO1

24 June 2026 14:09:07

88

828.50

XLON

00401315942TRLO1

24 June 2026 14:14:43

181

826.50

XLON

00401316334TRLO1

24 June 2026 14:24:17

85

827.00

XLON

00401316854TRLO1

24 June 2026 14:24:17

85

827.00

XLON

00401316855TRLO1

24 June 2026 14:24:17

84

827.00

XLON

00401316856TRLO1

24 June 2026 14:24:28

180

827.00

XLON

00401316860TRLO1

24 June 2026 14:30:20

88

827.00

XLON

00401317142TRLO1

24 June 2026 14:30:20

87

827.00

XLON

00401317143TRLO1

24 June 2026 14:31:10

179

825.00

XLON

00401317233TRLO1

24 June 2026 14:45:10

92

825.50

XLON

00401318818TRLO1

24 June 2026 14:46:20

89

824.50

XLON

00401318934TRLO1

24 June 2026 14:51:34

22

825.50

XLON

00401319402TRLO1

24 June 2026 14:51:34

44

825.50

XLON

00401319403TRLO1

24 June 2026 14:51:34

172

825.00

XLON

00401319404TRLO1

24 June 2026 14:51:34

22

825.50

XLON

00401319405TRLO1

24 June 2026 14:51:34

44

825.50

XLON

00401319406TRLO1

24 June 2026 14:51:34

19

825.50

XLON

00401319407TRLO1

24 June 2026 14:51:34

64

825.50

XLON

00401319408TRLO1

24 June 2026 14:53:27

86

825.50

XLON

00401319565TRLO1

24 June 2026 14:54:33

22

825.50

XLON

00401319648TRLO1

24 June 2026 14:54:33

44

825.50

XLON

00401319649TRLO1

24 June 2026 14:56:38

59

825.00

XLON

00401319880TRLO1

24 June 2026 14:56:38

59

825.00

XLON

00401319881TRLO1

24 June 2026 14:56:38

153

825.00

XLON

00401319882TRLO1

24 June 2026 14:56:38

22

825.50

XLON

00401319883TRLO1

24 June 2026 14:56:38

44

825.50

XLON

00401319884TRLO1

24 June 2026 14:56:38

19

825.50

XLON

00401319885TRLO1

24 June 2026 14:56:38

64

825.50

XLON

00401319886TRLO1

24 June 2026 15:01:08

60

826.50

XLON

00401320377TRLO1

24 June 2026 15:01:08

22

826.00

XLON

00401320378TRLO1

24 June 2026 15:04:14

183

827.50

XLON

00401320694TRLO1

24 June 2026 15:04:14

92

827.50

XLON

00401320695TRLO1

24 June 2026 15:06:43

41

826.50

XLON

00401321017TRLO1

24 June 2026 15:09:00

62

828.50

XLON

00401321247TRLO1

24 June 2026 15:09:00

178

828.50

XLON

00401321248TRLO1

24 June 2026 15:09:00

22

828.50

XLON

00401321249TRLO1

24 June 2026 15:09:00

44

828.50

XLON

00401321250TRLO1

24 June 2026 15:09:00

178

828.50

XLON

00401321251TRLO1

24 June 2026 15:09:00

74

828.50

XLON

00401321252TRLO1

24 June 2026 15:09:00

31

828.50

XLON

00401321253TRLO1

24 June 2026 15:10:25

30

828.00

XLON

00401321377TRLO1

24 June 2026 15:10:56

175

829.00

XLON

00401321439TRLO1

24 June 2026 15:13:14

20

828.00

XLON

00401321721TRLO1

24 June 2026 15:13:14

40

828.00

XLON

00401321722TRLO1

24 June 2026 15:13:14

74

828.00

XLON

00401321723TRLO1

24 June 2026 15:13:39

16

828.00

XLON

00401321752TRLO1

24 June 2026 15:13:39

32

828.00

XLON

00401321753TRLO1

24 June 2026 15:13:39

32

828.00

XLON

00401321754TRLO1

24 June 2026 15:13:39

55

828.00

XLON

00401321755TRLO1

24 June 2026 15:14:41

90

827.50

XLON

00401321815TRLO1

24 June 2026 15:15:38

71

828.50

XLON

00401321943TRLO1

24 June 2026 15:15:38

15

828.50

XLON

00401321944TRLO1

24 June 2026 15:16:26

90

828.00

XLON

00401322050TRLO1

24 June 2026 15:20:19

89

828.00

XLON

00401322430TRLO1

24 June 2026 15:20:26

64

828.00

XLON

00401322449TRLO1

24 June 2026 15:20:26

87

826.50

XLON

00401322450TRLO1

24 June 2026 15:20:26

10

827.50

XLON

00401322451TRLO1

24 June 2026 15:20:26

22

827.50

XLON

00401322452TRLO1

24 June 2026 15:20:26

20

827.50

XLON

00401322453TRLO1

24 June 2026 15:20:26

66

827.50

XLON

00401322454TRLO1

24 June 2026 15:20:26

74

828.00

XLON

00401322455TRLO1

24 June 2026 15:20:26

89

826.50

XLON

00401322456TRLO1

24 June 2026 15:21:10

87

823.50

XLON

00401322533TRLO1

24 June 2026 15:23:38

13

823.50

XLON

00401322710TRLO1

24 June 2026 15:23:38

184

823.50

XLON

00401322711TRLO1

24 June 2026 15:28:42

91

822.50

XLON

00401323675TRLO1

24 June 2026 15:28:42

184

822.50

XLON

00401323676TRLO1

24 June 2026 15:29:23

275

824.50

XLON

00401323707TRLO1

24 June 2026 15:33:15

90

823.00

XLON

00401324221TRLO1

24 June 2026 15:33:15

90

823.00

XLON

00401324222TRLO1

24 June 2026 15:34:23

21

823.00

XLON

00401324328TRLO1

24 June 2026 15:34:23

68

823.00

XLON

00401324329TRLO1

24 June 2026 15:37:03

87

823.50

XLON

00401324549TRLO1

24 June 2026 15:39:47

70

822.50

XLON

00401324816TRLO1

24 June 2026 15:39:47

22

822.50

XLON

00401324817TRLO1

24 June 2026 15:39:47

40

822.50

XLON

00401324818TRLO1

24 June 2026 15:39:47

51

822.50

XLON

00401324819TRLO1

24 June 2026 15:41:11

177

822.00

XLON

00401324932TRLO1

24 June 2026 15:43:38

68

823.00

XLON

00401325190TRLO1

24 June 2026 15:43:38

68

823.00

XLON

00401325191TRLO1

24 June 2026 15:45:24

178

821.50

XLON

00401325379TRLO1

24 June 2026 15:46:43

181

822.50

XLON

00401325523TRLO1

24 June 2026 15:47:15

253

824.00

XLON

00401325605TRLO1

24 June 2026 15:47:15

86

823.50

XLON

00401325606TRLO1

24 June 2026 15:47:39

188

824.00

XLON

00401325639TRLO1

24 June 2026 15:48:25

92

823.50

XLON

00401325698TRLO1

24 June 2026 15:52:02

172

824.00

XLON

00401325956TRLO1

24 June 2026 15:53:12

89

824.00

XLON

00401326039TRLO1

24 June 2026 15:54:05

93

825.00

XLON

00401326101TRLO1

24 June 2026 15:57:25

69

826.00

XLON

00401326515TRLO1

24 June 2026 15:57:25

182

825.00

XLON

00401326516TRLO1

24 June 2026 15:57:25

91

824.50

XLON

00401326517TRLO1

24 June 2026 15:57:25

91

824.50

XLON

00401326518TRLO1

24 June 2026 16:00:09

141

824.50

XLON

00401326828TRLO1

24 June 2026 16:01:43

88

829.00

XLON

00401326960TRLO1

24 June 2026 16:01:46

49

828.50

XLON

00401326970TRLO1

24 June 2026 16:01:46

36

828.50

XLON

00401326971TRLO1

24 June 2026 16:07:24

68

828.50

XLON

00401327663TRLO1

24 June 2026 16:09:41

176

825.50

XLON

00401327960TRLO1

24 June 2026 16:09:41

29

826.50

XLON

00401327961TRLO1

24 June 2026 16:09:41

73

827.00

XLON

00401327962TRLO1

24 June 2026 16:09:41

33

827.50

XLON

00401327963TRLO1

24 June 2026 16:09:41

66

827.50

XLON

00401327964TRLO1

24 June 2026 16:10:42

110

828.00

XLON

00401328037TRLO1

24 June 2026 16:17:10

90

828.50

XLON

00401328823TRLO1

24 June 2026 16:17:10

90

828.50

XLON

00401328824TRLO1

24 June 2026 16:17:22

68

828.50

XLON

00401328842TRLO1

24 June 2026 16:19:12

96

829.00

XLON

00401329053TRLO1

24 June 2026 16:19:12

124

829.00

XLON

00401329054TRLO1

24 June 2026 16:19:12

91

829.00

XLON

00401329056TRLO1

24 June 2026 16:19:12

268

829.00

XLON

00401329058TRLO1

24 June 2026 16:19:12

169

828.50

XLON

00401329061TRLO1

24 June 2026 16:19:12

3

828.50

XLON

00401329062TRLO1

24 June 2026 16:19:12

13

828.50

XLON

00401329063TRLO1

24 June 2026 16:21:36

1,382

829.00

XLON

00401329369TRLO1

 

 

Enquiries:

 

Gamma Communications plc

Martin Hellawell, Chair

Andrew Belshaw, Chief Executive Officer

Rachael Matzopoulos, Company Secretary

 

+44 (0) 33 3006 5972

Barclays Bank PLC, acting through its Investment Bank

(Lead Financial Adviser)

Alastair Blackman / Alex Evans / Callum West / Michael Hart

 

+44 (0) 20 7623 2323

Q Advisors (Joint Financial Adviser) 

Michael Quinn / Kristian MacCarter

 

+1 720 837 3214

Investec (Joint Financial Adviser and Joint Broker) 

Patrick Robb / Virginia Bull

 

+44 (0) 20 7597 5970

Peel Hunt (Joint Financial Adviser and Joint Broker) 

Neil Patel / Alice Lane / Benjamin Cryer

+44 (0) 20 7418 8900 

Teneo (Financial PR Adviser) 

James Macey White / Matt Low

+44 (0) 20 7260 2700

Disclaimer

Barclays Bank PLC, acting through its Investment Bank ("Barclays"), which is authorised by the Prudential Regulation Authority and regulated in the United Kingdom by the Financial Conduct Authority and the Prudential Regulation Authority, is acting exclusively for Gamma and no one else in connection with the matters set out in this announcement and will not be responsible to anyone other than Gamma for providing the protections afforded to clients of Barclays nor for providing advice in relation to any matter referred to in this announcement.

Investec Bank plc ("Investec"), which is authorised by the Prudential Regulation Authority (the "PRA") and regulated by the Financial Conduct Authority and PRA in the United Kingdom, is acting exclusively for Gamma and for no one else in connection with the matters set out in this announcement and will not be responsible to any person other than Gamma for providing the protections afforded to clients of Investec, nor for providing advice in relation to any matter referred to in this announcement. Neither Investec nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Investec in connection with this announcement, any statement contained herein or otherwise.

Peel Hunt LLP is authorised and regulated in the United Kingdom by the Financial Conduct Authority and is acting exclusively for Gamma and no one else in connection with the matters set out in this announcement and will not be responsible to anyone other than Gamma for providing the protections afforded to clients of Peel Hunt LLP nor for providing advice in relation to any matter referred to in this announcement.

In accordance with the Code, normal United Kingdom market practice and Rule 14e-5(b) of the Securities Exchange Act 1934 of the United States, Barclays, Investec, Peel Hunt and its affiliates will continue to act as exempt principal traders in Gamma securities on the London Stock Exchange. These purchases and activities by exempt principal traders which are required to be made public in the United Kingdom pursuant to the Code will be reported to a Regulatory Information Service and will be available on the London Stock Exchange website at www.londonstockexchange.com. This information will also be publicly disclosed in the United States to the extent that such information is made public in the United Kingdom.

Disclosure requirements of the Code

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0) 20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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