13th 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 | 10 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: | 91 | 0.00 | 12,680 | 0.01 |
(2) Cash-settled derivatives:
| 992,555 | 1.09 | 0 | 0.00 |
(3) Stock-settled derivatives (including options) and agreements to purchase/sell: | 0 | 0.00 | 0 | 0.00 |
TOTAL: | 992,646 | 1.09 | 12,680 | 0.01 |
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 | 123 | 8.2240 GBP |
Common | Buy Transaction | 89 | 8.2240 GBP |
Common | Buy Transaction | 19 | 8.2258 GBP |
Common | Buy Transaction | 89 | 8.2260 GBP |
Common | Buy Transaction | 241 | 8.2260 GBP |
Common | Buy Transaction | 166 | 8.2260 GBP |
Common | Buy Transaction | 186 | 8.2300 GBP |
Common | Buy Transaction | 276 | 8.2320 GBP |
Common | Buy Transaction | 1,040 | 8.2320 GBP |
Common | Buy Transaction | 738 | 8.2320 GBP |
Common | Buy Transaction | 93 | 8.2320 GBP |
Common | Buy Transaction | 276 | 8.2420 GBP |
Common | Buy Transaction | 470 | 8.2420 GBP |
Common | Buy Transaction | 184 | 8.2420 GBP |
Common | Buy Transaction | 164 | 8.2420 GBP |
Common | Buy Transaction | 21 | 8.2438 GBP |
Common | Buy Transaction | 462 | 8.2440 GBP |
Common | Buy Transaction | 119 | 8.2440 GBP |
Common | Buy Transaction | 2,522 | 8.2500 GBP |
Common | Buy Transaction | 314 | 8.2520 GBP |
Common | Buy Transaction | 3,667 | 8.2620 GBP |
Common | Buy Transaction | 565 | 8.2660 GBP |
Common | Buy Transaction | 193 | 8.2660 GBP |
Common | Buy Transaction | 183 | 8.2660 GBP |
Common | Buy Transaction | 374 | 8.2680 GBP |
Common | Buy Transaction | 37 | 8.2681 GBP |
Common | Buy Transaction | 57 | 8.2860 GBP |
Common | Buy Transaction | 339 | 8.2860 GBP |
Common | Buy Transaction | 212 | 8.2860 GBP |
Common | Buy Transaction | 327 | 8.2860 GBP |
Common | Buy Transaction | 1,165 | 8.2860 GBP |
Common | Buy Transaction | 293 | 8.2860 GBP |
Common | Buy Transaction | 68 | 8.2860 GBP |
Common | Buy Transaction | 23 | 8.2861 GBP |
Common | Buy Transaction | 118 | 8.2880 GBP |
Common | Buy Transaction | 234 | 8.4000 GBP |
Common | Buy Transaction | 140 | 8.4720 GBP |
Common | Buy Transaction | 70 | 8.4760 GBP |
Common | Buy Transaction | 10 | 8.4820 GBP |
Common | Buy Transaction | 38 | 8.4879 GBP |
Common | Buy Transaction | 63 | 8.4879 GBP |
Common | Buy Transaction | 141 | 8.4880 GBP |
Common | Buy Transaction | 3 | 8.4967 GBP |
Common | Buy Transaction | 44 | 8.4980 GBP |
Common | Buy Transaction | 144 | 8.4980 GBP |
Common | Buy Transaction | 492 | 8.5020 GBP |
Common | Buy Transaction | 129 | 8.5020 GBP |
Common | Buy Transaction | 116 | 8.5060 GBP |
Common | Buy Transaction | 562 | 8.5100 GBP |
Common | Buy Transaction | 209 | 8.5160 GBP |
Common | Buy Transaction | 80 | 8.5200 GBP |
Common | Buy Transaction | 3 | 8.5267 GBP |
Common | Buy Transaction | 45 | 8.5280 GBP |
Common | Buy Transaction | 72 | 8.5281 GBP |
Common | Buy Transaction | 436 | 8.5300 GBP |
Common | Buy Transaction | 6 | 8.5367 GBP |
Common | Buy Transaction | 647 | 8.5400 GBP |
Common | Buy Transaction | 400 | 8.5500 GBP |
Common | Buy Transaction | 122 | 8.5520 GBP |
Common | Buy Transaction | 180 | 8.5580 GBP |
Common | Buy Transaction | 347 | 8.5580 GBP |
Common | Buy Transaction | 11 | 8.5582 GBP |
Common | Sell Transaction | 114 | 8.2580 GBP |
Common | Sell Transaction | 66 | 8.2580 GBP |
Common | Sell Transaction | 79 | 8.2880 GBP |
Common | Sell Transaction | 285 | 8.2880 GBP |
Common | Sell Transaction | 234 | 8.2900 GBP |
Common | Sell Transaction | 2,693 | 8.3000 GBP |
Common | Sell Transaction | 212 | 8.3400 GBP |
Common | Sell Transaction | 78 | 8.3421 GBP |
Common | Sell Transaction | 556 | 8.3620 GBP |
Common | Sell Transaction | 53 | 8.4479 GBP |
Common | Sell Transaction | 642 | 8.4480 GBP |
Common | Sell Transaction | 215 | 8.4480 GBP |
Common | Sell Transaction | 111 | 8.4480 GBP |
Common | Sell Transaction | 44 | 8.4659 GBP |
Common | Sell Transaction | 37 | 8.4659 GBP |
Common | Sell Transaction | 134 | 8.4660 GBP |
Common | Sell Transaction | 298 | 8.4660 GBP |
Common | Sell Transaction | 76 | 8.4661 GBP |
Common | Sell Transaction | 1,315 | 8.4700 GBP |
Common | Sell Transaction | 440 | 8.4720 GBP |
Common | Sell Transaction | 48 | 8.4779 GBP |
Common | Sell Transaction | 3,395 | 8.4780 GBP |
Common | Sell Transaction | 267 | 8.4780 GBP |
Common | Sell Transaction | 111 | 8.4780 GBP |
Common | Sell Transaction | 56 | 8.4780 GBP |
Common | Sell Transaction | 16 | 8.4781 GBP |
Common | Sell Transaction | 210 | 8.4790 GBP |
Common | Sell Transaction | 7 | 8.4857 GBP |
Common | Sell Transaction | 53 | 8.4879 GBP |
Common | Sell Transaction | 180 | 8.4880 GBP |
Common | Sell Transaction | 1,302 | 8.4900 GBP |
Common | Sell Transaction | 190 | 8.4920 GBP |
Common | Sell Transaction | 876 | 8.5000 GBP |
Common | Sell Transaction | 206 | 8.5180 GBP |
Common | Sell Transaction | 372 | 8.5180 GBP |
Common | Sell Transaction | 182 | 8.5180 GBP |
Common | Sell Transaction | 4,055 | 8.5200 GBP |
Common | Sell Transaction | 19 | 8.5300 GBP |
Common | Sell Transaction | 926 | 8.5600 GBP |
Common | Sell Transaction | 46 | 8.5839 GBP |
Common | Sell Transaction | 535 | 8.5840 GBP |
Common | Sell Transaction | 359 | 8.5840 GBP |
Common | Sell Transaction | 38 | 8.5879 GBP |
Common | Sell Transaction | 48 | 8.5879 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 | Reducing long position | 2 | 8.2460 GBP |
Common | CFD | Reducing long position | 3,838 | 8.2620 GBP |
Common | CFD | Increasing long position | 203 | 8.2822 GBP |
Common | CFD | Increasing long position | 419 | 8.3462 GBP |
Common | CFD | Reducing long position | 13,471 | 8.3678 GBP |
Common | CFD | Reducing long position | 4,410 | 8.3750 GBP |
Common | CFD | Reducing long position | 412 | 8.3911 GBP |
Common | CFD | Increasing long position | 1,801 | 8.3917 GBP |
Common | CFD | Reducing long position | 15 | 8.4780 GBP |
Common | CFD | Increasing long position | 97 | 8.5029 GBP |
Common | CFD | Reducing long position | 2,056 | 8.5433 GBP |
Common | CFD | Reducing long position | 4 | 8.5600 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: | 13 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