Statement of intention not to make an offer

Summary by AI ^BETAClose X

Providence Equity LLP has issued a statement confirming it is no longer part of the consortium that had previously considered a possible offer for Gamma Communications Plc and does not intend to make an offer. This announcement falls under Rule 2.8 of the City Code on Takeovers and Mergers, meaning Providence and its concert parties are restricted from making a new offer for Gamma for six months, unless certain conditions are met, such as agreement from Gamma's board or a third party announcing a firm offer.

Disclaimer*

Providence Equity LLP

24 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 OR REGULATIONS OF THAT JURISDICTION

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")

FOR IMMEDIATE RELEASE

24 June 2026

Statement of intention not to make an offer for Gamma Communications Plc ("Gamma")

Further to the announcement made by Gamma on 10 June 2026 regarding a possible offer for Gamma by a consortium formed by Providence Equity Partners L.L.C. ("Providence") and Epiris LLP ("Epiris") (together, the "Consortium"), Providence confirms that it is no longer part of the Consortium and that it does not intend to make an offer for Gamma as part of the Consortium or otherwise.

Accordingly, except with the consent of the Takeover Panel, Providence (and any person acting in concert with it) is bound by the restrictions under Rule 2.8 of the Code.

Under Note 2 on Rule 2.8 of the Code, Providence (and any person acting in concert with it) reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:

· with the agreement of the Board of Gamma;

· if a third party announces a firm intention to make an offer for Gamma (excluding Epiris);

· if Gamma announces a Rule 9 waiver (as described in Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); or

· if there has been a material change of circumstances (as determined by the Takeover Panel).

Important Information

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.

The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

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