Form 8.5 EPT/Non RI GAMMA COMMUNICATIONS PLC

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:

12 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:

1,156,973

1.28%

1,184,317

1.31%

(2)

Cash-settled derivatives:

and/or controlled:

1,162,124

1.29%

1,154,987

1.28%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,319,097

2.57%

2,339,304

2.59%

(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

234,523

9.8450 GBP

9.1600 GBP

0.25p ordinary

Sale

134,053

9.8383 GBP

9.1250 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

Increasing Long

593

9.2869 GBP

0.25p ordinary

SWAP

Decreasing Short

3,830

9.2945 GBP

0.25p ordinary

SWAP

Decreasing Long

147

9.2950 GBP

0.25p ordinary

SWAP

Decreasing Short

1,172

9.4139 GBP

0.25p ordinary

SWAP

Decreasing Long

940

9.7193 GBP

0.25p ordinary

SWAP

Decreasing Long

118

9.6087 GBP

0.25p ordinary

SWAP

Decreasing Long

3,116

9.3910 GBP

0.25p ordinary

SWAP

Decreasing Short

4,105

9.7160 GBP

0.25p ordinary

SWAP

Increasing Short

14,893

9.2950 GBP

0.25p ordinary

SWAP

Increasing Long

7,611

9.2950 GBP

0.25p ordinary

SWAP

Decreasing Long

42,884

9.2950 GBP

0.25p ordinary

SWAP

Decreasing Long

15,919

9.5596 GBP

0.25p ordinary

SWAP

Decreasing Long

260

9.3229 GBP

0.25p ordinary

SWAP

Increasing Long

16,794

9.8000 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.7150 GBP

0.25p ordinary

SWAP

Decreasing Long

748

9.2663 GBP

0.25p ordinary

SWAP

Decreasing Long

85

9.4701 GBP

0.25p ordinary

SWAP

Increasing Short

443

9.7450 GBP

0.25p ordinary

SWAP

Decreasing Long

1,683

9.5510 GBP

0.25p ordinary

SWAP

Decreasing Long

625

9.5510 GBP

0.25p ordinary

CFD

Decreasing Long

265

9.4375 GBP

0.25p ordinary

SWAP

Increasing Short

2,000

9.4009 GBP

0.25p ordinary

SWAP

Closing Long

3,894

9.5391 GBP

0.25p ordinary

SWAP

Decreasing Short

2,581

9.2945 GBP

0.25p ordinary

SWAP

Increasing Long

723

9.7536 GBP

0.25p ordinary

SWAP

Decreasing Short

1,820

9.4340 GBP

0.25p ordinary

SWAP

Increasing Long

2,967

9.3377 GBP

0.25p ordinary

SWAP

Increasing Long

293

9.5999 GBP

0.25p ordinary

SWAP

Decreasing Short

1,449

9.2950 GBP

0.25p ordinary

SWAP

Decreasing Long

7,406

9.2950 GBP

0.25p ordinary

SWAP

Decreasing Long

728

9.3899 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.4000 GBP

0.25p ordinary

SWAP

Decreasing Long

5,196

9.4327 GBP

0.25p ordinary

SWAP

Increasing Short

204

9.2950 GBP

0.25p ordinary

SWAP

Increasing Short

1,339

9.7500 GBP

0.25p ordinary

SWAP

Increasing Long

65

9.4519 GBP

0.25p ordinary

SWAP

Closing Short

266

9.5295 GBP

0.25p ordinary

SWAP

Decreasing Long

14,152

9.6470 GBP

0.25p ordinary

SWAP

Decreasing Long

842

9.5468 GBP

0.25p ordinary

SWAP

Decreasing Short

4,712

9.2950 GBP

0.25p ordinary

SWAP

Increasing Short

1,407

9.6099 GBP

0.25p ordinary

SWAP

Increasing Long

197

9.6079 GBP

0.25p ordinary

SWAP

Increasing Short

1,288

9.7459 GBP

0.25p ordinary

SWAP

Decreasing Long

373

9.7572 GBP

0.25p ordinary

SWAP

Decreasing Short

564

9.2945 GBP

0.25p ordinary

SWAP

Increasing Long

3,038

9.2821 GBP

0.25p ordinary

SWAP

Increasing Short

449

9.6650 GBP

0.25p ordinary

SWAP

Decreasing Long

74

9.2950 GBP

0.25p ordinary

SWAP

Decreasing Short

2,770

9.4943 GBP

0.25p ordinary

SWAP

Increasing Long

3,283

9.2950 GBP

0.25p ordinary

SWAP

Decreasing Long

509

9.7539 GBP

0.25p ordinary

SWAP

Increasing Long

1,009

9.3507 GBP

0.25p ordinary

SWAP

Decreasing Long

627

9.5927 GBP

0.25p ordinary

SWAP

Increasing Long

5,930

9.4637 GBP

0.25p ordinary

SWAP

Decreasing Long

41,306

9.6850 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:

15 Jun 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213