9th Apr 2026 15:00
FORM 8.3
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Full name of discloser: | Citadel Group |
(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. | N/A |
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree | GAMMA COMMUNICATIONS PLC |
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: | N/A |
(e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure | 8 April 2026 |
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A" | N/A
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2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE
If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.
(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:
| ISIN GB00BQS10J50 0.25p ordinary | |||
| Interests | Short positions | ||
| Number | % | Number | % |
(1) Relevant securities owned and/or controlled: | 0 | 0.00 | 20,743 | 0.02 |
(2) Cash-settled derivatives:
| 1,012,655 | 1.11 | 0 | 0.00 |
(3) Stock-settled derivatives (including options) and agreements to purchase/sell: | 0 | 0.00 | 0 | 0.00 |
TOTAL: | 1,012,655 | 1.11 | 20,743 | 0.02 |
All interests and all short positions should be disclosed.
Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).
(b) Rights to subscribe for new securities (including directors' and other employee options)
Class of relevant security in relation to which subscription right exists: | N/A |
Details, including nature of the rights concerned and relevant percentages: | N/A |
3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.
The currency of all prices and other monetary amounts should be stated.
(a) Purchases and sales
Class of relevant security | Purchase/sale
| Number of securities | Price per unit |
Common | Buy Transaction | 67 | 8.1100 GBP |
Common | Buy Transaction | 27 | 8.1200 GBP |
Common | Buy Transaction | 460 | 8.1480 GBP |
Common | Buy Transaction | 129 | 8.1920 GBP |
Common | Buy Transaction | 743 | 8.2500 GBP |
Common | Buy Transaction | 62 | 8.2519 GBP |
Common | Buy Transaction | 51 | 8.2520 GBP |
Common | Buy Transaction | 191 | 8.2520 GBP |
Common | Buy Transaction | 140 | 8.2520 GBP |
Common | Buy Transaction | 21 | 8.2757 GBP |
Common | Buy Transaction | 13 | 8.3000 GBP |
Common | Buy Transaction | 328 | 8.3100 GBP |
Common | Buy Transaction | 7 | 8.3114 GBP |
Common | Buy Transaction | 14 | 8.3121 GBP |
Common | Buy Transaction | 16 | 8.3300 GBP |
Common | Buy Transaction | 36 | 8.3319 GBP |
Common | Buy Transaction | 116 | 8.3320 GBP |
Common | Buy Transaction | 680 | 8.3320 GBP |
Common | Buy Transaction | 81 | 8.3340 GBP |
Common | Buy Transaction | 25 | 8.3360 GBP |
Common | Buy Transaction | 3,393 | 8.3400 GBP |
Common | Buy Transaction | 20 | 8.3440 GBP |
Common | Buy Transaction | 24 | 8.3479 GBP |
Common | Buy Transaction | 49 | 8.3480 GBP |
Common | Buy Transaction | 212 | 8.3500 GBP |
Common | Buy Transaction | 18 | 8.3539 GBP |
Common | Buy Transaction | 111 | 8.3640 GBP |
Common | Buy Transaction | 260 | 8.3640 GBP |
Common | Buy Transaction | 510 | 8.3780 GBP |
Common | Buy Transaction | 62 | 8.3881 GBP |
Common | Buy Transaction | 36 | 8.3939 GBP |
Common | Buy Transaction | 220 | 8.3940 GBP |
Common | Buy Transaction | 82 | 8.3940 GBP |
Common | Buy Transaction | 2 | 8.4050 GBP |
Common | Buy Transaction | 119 | 8.4060 GBP |
Common | Buy Transaction | 278 | 8.4060 GBP |
Common | Buy Transaction | 20 | 8.4760 GBP |
Common | Buy Transaction | 1 | 8.4800 GBP |
Common | Buy Transaction | 91 | 8.4820 GBP |
Common | Buy Transaction | 362 | 8.4820 GBP |
Common | Buy Transaction | 183 | 8.4820 GBP |
Common | Buy Transaction | 1,301 | 8.5420 GBP |
Common | Buy Transaction | 6,784 | 8.5420 GBP |
Common | Buy Transaction | 30 | 8.5580 GBP |
Common | Buy Transaction | 72 | 8.5581 GBP |
Common | Buy Transaction | 1 | 8.5600 GBP |
Common | Buy Transaction | 48 | 8.5921 GBP |
Common | Buy Transaction | 1 | 8.6000 GBP |
Common | Buy Transaction | 22 | 8.6018 GBP |
Common | Buy Transaction | 146 | 8.6020 GBP |
Common | Buy Transaction | 194 | 8.6020 GBP |
Common | Buy Transaction | 59 | 8.6020 GBP |
Common | Buy Transaction | 210 | 8.6340 GBP |
Common | Buy Transaction | 253 | 8.6460 GBP |
Common | Buy Transaction | 356 | 8.6480 GBP |
Common | Buy Transaction | 46 | 8.6480 GBP |
Common | Buy Transaction | 236 | 8.6620 GBP |
Common | Buy Transaction | 354 | 8.6620 GBP |
Common | Sell Transaction | 749 | 8.1100 GBP |
Common | Sell Transaction | 647 | 8.2320 GBP |
Common | Sell Transaction | 29 | 8.2321 GBP |
Common | Sell Transaction | 29 | 8.2341 GBP |
Common | Sell Transaction | 153 | 8.2480 GBP |
Common | Sell Transaction | 17 | 8.2482 GBP |
Common | Sell Transaction | 1,539 | 8.2500 GBP |
Common | Sell Transaction | 37 | 8.2559 GBP |
Common | Sell Transaction | 1 | 8.2600 GBP |
Common | Sell Transaction | 371 | 8.2680 GBP |
Common | Sell Transaction | 187 | 8.2760 GBP |
Common | Sell Transaction | 88 | 8.2840 GBP |
Common | Sell Transaction | 336 | 8.2840 GBP |
Common | Sell Transaction | 785 | 8.2860 GBP |
Common | Sell Transaction | 156 | 8.2860 GBP |
Common | Sell Transaction | 200 | 8.2900 GBP |
Common | Sell Transaction | 5,595 | 8.3000 GBP |
Common | Sell Transaction | 43 | 8.3140 GBP |
Common | Sell Transaction | 365 | 8.3140 GBP |
Common | Sell Transaction | 47 | 8.3140 GBP |
Common | Sell Transaction | 399 | 8.3160 GBP |
Common | Sell Transaction | 625 | 8.3200 GBP |
Common | Sell Transaction | 55 | 8.3220 GBP |
Common | Sell Transaction | 309 | 8.3280 GBP |
Common | Sell Transaction | 200 | 8.3300 GBP |
Common | Sell Transaction | 328 | 8.3320 GBP |
Common | Sell Transaction | 325 | 8.3500 GBP |
Common | Sell Transaction | 476 | 8.3600 GBP |
Common | Sell Transaction | 1,623 | 8.3640 GBP |
Common | Sell Transaction | 123 | 8.3860 GBP |
Common | Sell Transaction | 56 | 8.3880 GBP |
Common | Sell Transaction | 65 | 8.3920 GBP |
Common | Sell Transaction | 67 | 8.4140 GBP |
Common | Sell Transaction | 54 | 8.4141 GBP |
Common | Sell Transaction | 12 | 8.4242 GBP |
Common | Sell Transaction | 180 | 8.4260 GBP |
Common | Sell Transaction | 331 | 8.4500 GBP |
Common | Sell Transaction | 393 | 8.4560 GBP |
Common | Sell Transaction | 25 | 8.4760 GBP |
Common | Sell Transaction | 26 | 8.4762 GBP |
Common | Sell Transaction | 427 | 8.4840 GBP |
Common | Sell Transaction | 373 | 8.4880 GBP |
Common | Sell Transaction | 13,502 | 8.5000 GBP |
Common | Sell Transaction | 335 | 8.5040 GBP |
Common | Sell Transaction | 147 | 8.5100 GBP |
Common | Sell Transaction | 29 | 8.5159 GBP |
Common | Sell Transaction | 1,626 | 8.5200 GBP |
Common | Sell Transaction | 181 | 8.5260 GBP |
Common | Sell Transaction | 10 | 8.5320 GBP |
Common | Sell Transaction | 3 | 8.5367 GBP |
Common | Sell Transaction | 44 | 8.5380 GBP |
Common | Sell Transaction | 36 | 8.5381 GBP |
Common | Sell Transaction | 1 | 8.5400 GBP |
Common | Sell Transaction | 6 | 8.5433 GBP |
Common | Sell Transaction | 362 | 8.5440 GBP |
Common | Sell Transaction | 133 | 8.5440 GBP |
Common | Sell Transaction | 310 | 8.5440 GBP |
Common | Sell Transaction | 110 | 8.5620 GBP |
Common | Sell Transaction | 63 | 8.5621 GBP |
Common | Sell Transaction | 11 | 8.5636 GBP |
Common | Sell Transaction | 48 | 8.5640 GBP |
Common | Sell Transaction | 65 | 8.5640 GBP |
Common | Sell Transaction | 714 | 8.5640 GBP |
Common | Sell Transaction | 14 | 8.5700 GBP |
Common | Sell Transaction | 18 | 8.5739 GBP |
Common | Sell Transaction | 369 | 8.5740 GBP |
Common | Sell Transaction | 13 | 8.5762 GBP |
Common | Sell Transaction | 16 | 8.5762 GBP |
Common | Sell Transaction | 4 | 8.5775 GBP |
Common | Sell Transaction | 500 | 8.5780 GBP |
Common | Sell Transaction | 497 | 8.5780 GBP |
Common | Sell Transaction | 242 | 8.5780 GBP |
Common | Sell Transaction | 71 | 8.5780 GBP |
Common | Sell Transaction | 21 | 8.5781 GBP |
Common | Sell Transaction | 239 | 8.5800 GBP |
Common | Sell Transaction | 340 | 8.5820 GBP |
Common | Sell Transaction | 354 | 8.5840 GBP |
Common | Sell Transaction | 205 | 8.5920 GBP |
Common | Sell Transaction | 492 | 8.6040 GBP |
Common | Sell Transaction | 300 | 8.6060 GBP |
Common | Sell Transaction | 818 | 8.6060 GBP |
Common | Sell Transaction | 126 | 8.6060 GBP |
Common | Sell Transaction | 221 | 8.6120 GBP |
Common | Sell Transaction | 1,465 | 8.6120 GBP |
Common | Sell Transaction | 223 | 8.6120 GBP |
Common | Sell Transaction | 43 | 8.6121 GBP |
Common | Sell Transaction | 225 | 8.6140 GBP |
Common | Sell Transaction | 14 | 8.6157 GBP |
Common | Sell Transaction | 350 | 8.6160 GBP |
Common | Sell Transaction | 55 | 8.6180 GBP |
Common | Sell Transaction | 11 | 8.6200 GBP |
Common | Sell Transaction | 328 | 8.6240 GBP |
Common | Sell Transaction | 362 | 8.6280 GBP |
Common | Sell Transaction | 200 | 8.6320 GBP |
Common | Sell Transaction | 49 | 8.6320 GBP |
Common | Sell Transaction | 18 | 8.6322 GBP |
Common | Sell Transaction | 126 | 8.6400 GBP |
Common | Sell Transaction | 37 | 8.6419 GBP |
Common | Sell Transaction | 88 | 8.6420 GBP |
Common | Sell Transaction | 31 | 8.6439 GBP |
Common | Sell Transaction | 200 | 8.6460 GBP |
Common | Sell Transaction | 250 | 8.6480 GBP |
Common | Sell Transaction | 15,972 | 8.6500 GBP |
Common | Sell Transaction | 179 | 8.6540 GBP |
Common | Sell Transaction | 739 | 8.6580 GBP |
Common | Sell Transaction | 661 | 8.6580 GBP |
Common | Sell Transaction | 173 | 8.6600 GBP |
Common | Sell Transaction | 178 | 8.6620 GBP |
Common | Sell Transaction | 112 | 8.6660 GBP |
Common | Sell Transaction | 306 | 8.6660 GBP |
Common | Sell Transaction | 93 | 8.6680 GBP |
Common | Sell Transaction | 369 | 8.6700 GBP |
Common | Sell Transaction | 43 | 8.6740 GBP |
Common | Sell Transaction | 73 | 8.6740 GBP |
Common | Sell Transaction | 241 | 8.6740 GBP |
Common | Sell Transaction | 375 | 8.6780 GBP |
Common | Sell Transaction | 567 | 8.6780 GBP |
Common | Sell Transaction | 221 | 8.6840 GBP |
Common | Sell Transaction | 10 | 8.6860 GBP |
Common | Sell Transaction | 606 | 8.6880 GBP |
Common | Sell Transaction | 106 | 8.6880 GBP |
Common | Sell Transaction | 497 | 8.7000 GBP |
(b) Cash-settled derivative transactions
Class of relevant security | Product description e.g. CFD | Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position | Number of reference securities | Price per unit |
Common | CFD | Opening long position | 11,126 | 8.1897 GBP |
Common | CFD | Opening long position | 14,421 | 8.2686 GBP |
Common | CFD | Opening long position | 980 | 8.3188 GBP |
Common | CFD | Opening long position | 1,853 | 8.3238 GBP |
Common | CFD | Opening long position | 2,823 | 8.3327 GBP |
Common | CFD | Opening long position | 7,541 | 8.3587 GBP |
Common | CFD | Opening long position | 1,894 | 8.3598 GBP |
Common | CFD | Reducing long position | 193 | 8.3759 GBP |
Common | CFD | Reducing long position | 744 | 8.3781 GBP |
Common | CFD | Reducing long position | 41,546 | 8.4704 GBP |
Common | CFD | Reducing long position | 3,687 | 8.5017 GBP |
Common | CFD | Opening long position | 11 | 8.5235 GBP |
Common | CFD | Reducing long position | 6,788 | 8.5270 GBP |
Common | CFD | Reducing long position | 2,889 | 8.5270 GBP |
Common | CFD | Opening long position | 3,304 | 8.5420 GBP |
Common | CFD | Reducing long position | 8,235 | 8.6484 GBP |
(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
Class of relevant security | Product description e.g. call option | Writing, purchasing, selling, varying etc. | Number of securities to which option relates | Exercise price per unit | Type e.g. American, European etc. | Expiry date | Option money paid/ received per unit |
(ii) Exercise
Class of relevant security | Product description e.g. call option | Exercising/ exercised against | Number of securities | Exercise price per unit |
(d) Other dealings (including subscribing for new securities)
Class of relevant security | Nature of dealing e.g. subscription, conversion | Details | Price per unit (if applicable) |
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4. OTHER INFORMATION
(a) Indemnity and other dealing 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 person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none" |
None
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(b) Agreements, arrangements or understandings relating to options or derivatives
Details of any agreement, arrangement or understanding, formal or informal, between the person 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 or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none" |
None
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(c) Attachments
Is a Supplemental Form 8 (Open Positions) attached? | NO |
Date of disclosure: | 9 April 2026 |
Contact name: | Paula Santos |
Telephone number*: | 020 7645 9700 |
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.
The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.
*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.
Related Shares:
Gamma Communications