Transaction in Own Shares

Summary by AI BETAClose X

Gamma Communications PLC has purchased 21,227 ordinary shares on June 17, 2026, as part of its ongoing share buyback program, with a weighted average price of 909.6509 pence per share, ranging from 903.50 to 923.00 pence. These shares are intended for cancellation, and following this transaction, the company will have 90,051,282 ordinary shares in issue, with 1,536,117 held in treasury, resulting in a total of 90,051,282 voting rights. This announcement also serves as a Rule 2.9 confirmation for the ongoing offer period, stating the current number of voting shares in issue.

Disclaimer*

Gamma Communications PLC
18 June 2026
 

18 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:

17 June 2026

Number of ordinary shares purchased:

21,227

Lowest price per share (pence):

903.50

Highest price per share (pence):

923.00

Weighted average price per day (pence):

909.6509

 

 The Company intends to cancel the purchased ordinary shares.

 

Following settlement of the above purchases, Gamma has purchased a total of 2,176,952 ordinary shares since the commencement of the buyback programme and will have 91,587,399 ordinary shares in issue. There are 1,536,117 ordinary shares held in treasury. The total voting rights in the Company are therefore 90,051,282 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 90,051,282 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

909.6509

21,227

903.50

923.00

 

 

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

17 June 2026 08:04:56

69

                      923.00

XLON

00399476029TRLO1

17 June 2026 08:04:56

16

                      923.00

XLON

00399476030TRLO1

17 June 2026 08:08:39

87

                      918.50

XLON

00399477996TRLO1

17 June 2026 08:13:45

6

                      916.00

XLON

00399480836TRLO1

17 June 2026 08:13:45

81

                      916.00

XLON

00399480837TRLO1

17 June 2026 08:18:10

81

                      918.00

XLON

00399482884TRLO1

17 June 2026 08:29:23

87

                      917.50

XLON

00399488975TRLO1

17 June 2026 08:29:30

9

                      917.50

XLON

00399489059TRLO1

17 June 2026 08:39:52

86

                      918.00

XLON

00399494998TRLO1

17 June 2026 08:39:59

87

                      917.00

XLON

00399495048TRLO1

17 June 2026 08:44:49

21

                      917.00

XLON

00399498299TRLO1

17 June 2026 08:48:42

83

                      916.00

XLON

00399500446TRLO1

17 June 2026 08:48:49

82

                      915.00

XLON

00399500511TRLO1

17 June 2026 08:55:31

50

                      915.00

XLON

00399504329TRLO1

17 June 2026 08:55:31

25

                      915.00

XLON

00399504330TRLO1

17 June 2026 08:55:31

7

                      915.00

XLON

00399504331TRLO1

17 June 2026 08:57:12

171

                      916.50

XLON

00399504996TRLO1

17 June 2026 08:58:50

21

                      916.00

XLON

00399505781TRLO1

17 June 2026 09:05:31

81

                      915.50

XLON

00399508868TRLO1

17 June 2026 09:05:31

55

                      915.50

XLON

00399508869TRLO1

17 June 2026 09:10:55

84

                      915.00

XLON

00399511471TRLO1

17 June 2026 09:10:56

82

                      914.00

XLON

00399511480TRLO1

17 June 2026 09:11:05

96

                      915.00

XLON

00399511558TRLO1

17 June 2026 09:11:28

81

                      915.00

XLON

00399511675TRLO1

17 June 2026 09:11:34

84

                      913.00

XLON

00399511698TRLO1

17 June 2026 09:11:37

1

                      913.00

XLON

00399511714TRLO1

17 June 2026 09:13:29

68

                      915.00

XLON

00399512416TRLO1

17 June 2026 09:13:29

96

                      915.00

XLON

00399512417TRLO1

17 June 2026 09:14:40

55

                      915.00

XLON

00399512856TRLO1

17 June 2026 09:14:40

55

                      915.00

XLON

00399512857TRLO1

17 June 2026 09:14:55

169

                      914.00

XLON

00399512949TRLO1

17 June 2026 09:17:29

83

                      913.00

XLON

00399514043TRLO1

17 June 2026 09:22:42

84

                      915.50

XLON

00399516584TRLO1

17 June 2026 09:23:31

82

                      915.00

XLON

00399517004TRLO1

17 June 2026 09:27:32

81

                      915.00

XLON

00399518620TRLO1

17 June 2026 09:29:55

14

                      916.00

XLON

00399519578TRLO1

17 June 2026 09:29:55

55

                      916.00

XLON

00399519579TRLO1

17 June 2026 09:29:55

83

                      915.00

XLON

00399519580TRLO1

17 June 2026 09:29:55

10

                      915.50

XLON

00399519581TRLO1

17 June 2026 09:29:55

16

                      915.50

XLON

00399519582TRLO1

17 June 2026 09:29:55

241

                      916.00

XLON

00399519583TRLO1

17 June 2026 09:29:55

71

                      915.00

XLON

00399519584TRLO1

17 June 2026 09:33:17

12

                      915.00

XLON

00399521096TRLO1

17 June 2026 09:33:17

71

                      915.00

XLON

00399521097TRLO1

17 June 2026 09:33:17

82

                      915.00

XLON

00399521098TRLO1

17 June 2026 09:35:04

85

                      916.00

XLON

00399521988TRLO1

17 June 2026 09:35:10

100

                      915.00

XLON

00399522043TRLO1

17 June 2026 09:35:46

254

                      916.50

XLON

00399522313TRLO1

17 June 2026 09:41:05

119

                      915.50

XLON

00399524785TRLO1

17 June 2026 09:41:05

45

                      915.50

XLON

00399524786TRLO1

17 June 2026 09:41:05

119

                      915.50

XLON

00399524787TRLO1

17 June 2026 09:41:05

45

                      915.50

XLON

00399524788TRLO1

17 June 2026 09:49:50

83

                      916.00

XLON

00399528931TRLO1

17 June 2026 09:57:00

84

                      917.00

XLON

00399534335TRLO1

17 June 2026 10:00:28

83

                      916.50

XLON

00399536376TRLO1

17 June 2026 10:01:02

82

                      915.50

XLON

00399536631TRLO1

17 June 2026 10:04:41

172

                      913.50

XLON

00399538547TRLO1

17 June 2026 10:11:00

164

                      910.50

XLON

00399542857TRLO1

17 June 2026 10:11:00

81

                      910.50

XLON

00399542858TRLO1

17 June 2026 10:18:04

163

                      909.00

XLON

00399547527TRLO1

17 June 2026 10:18:04

81

                      909.00

XLON

00399547528TRLO1

17 June 2026 10:24:21

85

                      908.50

XLON

00399552561TRLO1

17 June 2026 10:28:00

84

                      908.00

XLON

00399555950TRLO1

17 June 2026 10:28:39

82

                      907.00

XLON

00399556587TRLO1

17 June 2026 10:30:07

17

                      906.00

XLON

00399557939TRLO1

17 June 2026 10:34:55

57

                      910.00

XLON

00399563277TRLO1

17 June 2026 10:34:55

70

                      910.00

XLON

00399563278TRLO1

17 June 2026 10:40:15

75

                      912.00

XLON

00399570958TRLO1

17 June 2026 10:40:16

413

                      912.00

XLON

00399570998TRLO1

17 June 2026 10:43:37

143

                      911.50

XLON

00399577498TRLO1

17 June 2026 10:50:22

166

                      912.50

XLON

00399583601TRLO1

17 June 2026 10:54:20

32

                      914.00

XLON

00399586869TRLO1

17 June 2026 10:54:20

84

                      913.50

XLON

00399586870TRLO1

17 June 2026 10:54:20

82

                      913.00

XLON

00399586871TRLO1

17 June 2026 10:56:13

82

                      912.00

XLON

00399588432TRLO1

17 June 2026 10:57:54

85

                      912.00

XLON

00399589979TRLO1

17 June 2026 11:01:31

84

                      911.00

XLON

00399591443TRLO1

17 June 2026 11:05:14

84

                      909.50

XLON

00399591590TRLO1

17 June 2026 11:05:14

84

                      909.50

XLON

00399591591TRLO1

17 June 2026 11:07:37

175

                      909.50

XLON

00399591700TRLO1

17 June 2026 11:08:29

174

                      908.50

XLON

00399591727TRLO1

17 June 2026 11:22:31

173

                      908.00

XLON

00399592073TRLO1

17 June 2026 11:24:09

166

                      907.50

XLON

00399592135TRLO1

17 June 2026 11:33:21

168

                      909.00

XLON

00399592408TRLO1

17 June 2026 11:34:04

84

                      908.50

XLON

00399592451TRLO1

17 June 2026 11:44:55

84

                      908.00

XLON

00399593547TRLO1

17 June 2026 11:44:55

84

                      906.50

XLON

00399593548TRLO1

17 June 2026 11:51:02

88

                      907.50

XLON

00399593825TRLO1

17 June 2026 11:53:06

87

                      905.00

XLON

00399593913TRLO1

17 June 2026 11:54:00

74

                      904.50

XLON

00399593937TRLO1

17 June 2026 11:56:17

110

                      905.00

XLON

00399594016TRLO1

17 June 2026 12:09:31

64

                      908.50

XLON

00399594364TRLO1

17 June 2026 12:09:31

19

                      908.50

XLON

00399594365TRLO1

17 June 2026 12:09:34

165

                      908.50

XLON

00399594366TRLO1

17 June 2026 12:15:56

49

                      908.50

XLON

00399594558TRLO1

17 June 2026 12:15:56

58

                      908.50

XLON

00399594559TRLO1

17 June 2026 12:15:57

162

                      908.00

XLON

00399594562TRLO1

17 June 2026 12:15:57

24

                      908.50

XLON

00399594563TRLO1

17 June 2026 12:19:27

35

                      909.00

XLON

00399594656TRLO1

17 June 2026 12:19:27

82

                      908.50

XLON

00399594657TRLO1

17 June 2026 12:19:27

1

                      908.50

XLON

00399594658TRLO1

17 June 2026 12:20:00

1

                      908.00

XLON

00399594684TRLO1

17 June 2026 12:20:00

82

                      908.00

XLON

00399594685TRLO1

17 June 2026 12:20:00

81

                      908.00

XLON

00399594686TRLO1

17 June 2026 12:28:21

81

                      907.00

XLON

00399594932TRLO1

17 June 2026 12:32:31

88

                      906.50

XLON

00399595084TRLO1

17 June 2026 12:32:59

126

                      907.50

XLON

00399595096TRLO1

17 June 2026 12:34:16

83

                      908.00

XLON

00399595145TRLO1

17 June 2026 12:34:16

81

                      907.50

XLON

00399595146TRLO1

17 June 2026 12:34:46

88

                      907.00

XLON

00399595153TRLO1

17 June 2026 12:59:39

76

                      907.00

XLON

00399596056TRLO1

17 June 2026 12:59:39

53

                      907.00

XLON

00399596057TRLO1

17 June 2026 12:59:40

60

                      907.00

XLON

00399596059TRLO1

17 June 2026 12:59:40

76

                      907.00

XLON

00399596060TRLO1

17 June 2026 12:59:47

61

                      907.00

XLON

00399596067TRLO1

17 June 2026 13:00:28

21

                      907.00

XLON

00399596099TRLO1

17 June 2026 13:18:20

18

                      907.00

XLON

00399596718TRLO1

17 June 2026 13:21:29

80

                      906.50

XLON

00399596780TRLO1

17 June 2026 13:21:29

81

                      906.50

XLON

00399596781TRLO1

17 June 2026 13:21:29

80

                      906.50

XLON

00399596782TRLO1

17 June 2026 13:21:33

248

                      905.50

XLON

00399596786TRLO1

17 June 2026 13:22:09

86

                      905.50

XLON

00399596792TRLO1

17 June 2026 13:23:49

86

                      905.50

XLON

00399596851TRLO1

17 June 2026 13:30:26

151

                      907.00

XLON

00399597042TRLO1

17 June 2026 13:30:26

77

                      907.00

XLON

00399597043TRLO1

17 June 2026 13:30:26

93

                      907.00

XLON

00399597044TRLO1

17 June 2026 13:33:34

88

                      906.50

XLON

00399597125TRLO1

17 June 2026 13:39:14

61

                      908.50

XLON

00399597284TRLO1

17 June 2026 13:39:19

86

                      910.00

XLON

00399597285TRLO1

17 June 2026 13:50:22

83

                      910.50

XLON

00399597557TRLO1

17 June 2026 13:50:22

81

                      910.00

XLON

00399597558TRLO1

17 June 2026 14:06:31

410

                      910.00

XLON

00399598028TRLO1

17 June 2026 14:15:18

410

                      910.00

XLON

00399598409TRLO1

17 June 2026 14:15:18

60

                      910.00

XLON

00399598410TRLO1

17 June 2026 14:15:18

10

                      910.00

XLON

00399598411TRLO1

17 June 2026 14:15:59

82

                      910.00

XLON

00399598441TRLO1

17 June 2026 14:18:30

82

                      910.00

XLON

00399598537TRLO1

17 June 2026 14:25:13

70

                      910.00

XLON

00399598921TRLO1

17 June 2026 14:26:43

161

                      909.00

XLON

00399599013TRLO1

17 June 2026 14:29:19

12

                      908.00

XLON

00399599141TRLO1

17 June 2026 14:30:24

87

                      908.00

XLON

00399599334TRLO1

17 June 2026 14:30:24

161

                      908.00

XLON

00399599335TRLO1

17 June 2026 14:30:53

30

                      908.50

XLON

00399599366TRLO1

17 June 2026 14:30:53

30

                      908.50

XLON

00399599367TRLO1

17 June 2026 14:30:53

101

                      908.50

XLON

00399599368TRLO1

17 June 2026 14:30:53

88

                      908.50

XLON

00399599369TRLO1

17 June 2026 14:32:20

5

                      907.50

XLON

00399599565TRLO1

17 June 2026 14:32:20

161

                      907.50

XLON

00399599566TRLO1

17 June 2026 14:40:19

86

                      909.00

XLON

00399600161TRLO1

17 June 2026 14:41:01

81

                      908.50

XLON

00399600204TRLO1

17 June 2026 14:45:19

58

                      908.00

XLON

00399600587TRLO1

17 June 2026 14:50:23

162

                      909.00

XLON

00399600926TRLO1

17 June 2026 14:54:31

86

                      909.00

XLON

00399601080TRLO1

17 June 2026 14:58:34

30

                      910.50

XLON

00399601366TRLO1

17 June 2026 15:01:38

30

                      910.00

XLON

00399601496TRLO1

17 June 2026 15:01:38

138

                      910.00

XLON

00399601497TRLO1

17 June 2026 15:02:54

66

                      910.00

XLON

00399601581TRLO1

17 June 2026 15:02:54

87

                      910.00

XLON

00399601582TRLO1

17 June 2026 15:02:54

173

                      909.00

XLON

00399601583TRLO1

17 June 2026 15:03:04

65

                      909.00

XLON

00399601597TRLO1

17 June 2026 15:03:04

82

                      909.00

XLON

00399601598TRLO1

17 June 2026 15:03:44

55

                      908.00

XLON

00399601651TRLO1

17 June 2026 15:03:46

55

                      907.50

XLON

00399601652TRLO1

17 June 2026 15:03:46

11

                      907.50

XLON

00399601653TRLO1

17 June 2026 15:11:57

68

                      908.00

XLON

00399602270TRLO1

17 June 2026 15:11:57

176

                      907.50

XLON

00399602271TRLO1

17 June 2026 15:13:31

90

                      907.50

XLON

00399602385TRLO1

17 June 2026 15:13:31

52

                      907.50

XLON

00399602386TRLO1

17 June 2026 15:18:24

162

                      908.00

XLON

00399602609TRLO1

17 June 2026 15:23:31

19

                      909.00

XLON

00399602921TRLO1

17 June 2026 15:24:10

108

                      909.00

XLON

00399602946TRLO1

17 June 2026 15:24:50

169

                      909.50

XLON

00399603009TRLO1

17 June 2026 15:26:47

241

                      909.00

XLON

00399603103TRLO1

17 June 2026 15:26:57

253

                      908.50

XLON

00399603109TRLO1

17 June 2026 15:27:00

410

                      908.50

XLON

00399603164TRLO1

17 June 2026 15:27:00

86

                      908.50

XLON

00399603165TRLO1

17 June 2026 15:28:40

100

                      908.50

XLON

00399603251TRLO1

17 June 2026 15:28:40

130

                      908.00

XLON

00399603252TRLO1

17 June 2026 15:28:40

130

                      908.00

XLON

00399603253TRLO1

17 June 2026 15:28:40

67

                      908.00

XLON

00399603254TRLO1

17 June 2026 15:28:40

63

                      908.00

XLON

00399603255TRLO1

17 June 2026 15:28:40

197

                      908.00

XLON

00399603256TRLO1

17 June 2026 15:28:40

101

                      908.00

XLON

00399603257TRLO1

17 June 2026 15:28:40

58

                      908.00

XLON

00399603258TRLO1

17 June 2026 15:29:21

217

                      906.50

XLON

00399603314TRLO1

17 June 2026 15:41:13

22

                      907.50

XLON

00399604157TRLO1

17 June 2026 15:41:23

219

                      907.50

XLON

00399604189TRLO1

17 June 2026 15:43:59

12

                      908.50

XLON

00399604424TRLO1

17 June 2026 15:46:57

78

                      908.00

XLON

00399604678TRLO1

17 June 2026 15:47:14

63

                      908.50

XLON

00399604735TRLO1

17 June 2026 15:47:14

87

                      908.50

XLON

00399604736TRLO1

17 June 2026 15:47:14

85

                      908.00

XLON

00399604761TRLO1

17 June 2026 15:47:14

78

                      908.00

XLON

00399604762TRLO1

17 June 2026 15:47:15

101

                      908.00

XLON

00399604775TRLO1

17 June 2026 15:47:15

76

                      908.00

XLON

00399604776TRLO1

17 June 2026 15:47:15

90

                      908.00

XLON

00399604779TRLO1

17 June 2026 15:47:16

175

                      907.50

XLON

00399604813TRLO1

17 June 2026 15:47:25

163

                      906.50

XLON

00399604935TRLO1

17 June 2026 15:47:27

1

                      906.00

XLON

00399604945TRLO1

17 June 2026 15:47:27

160

                      906.00

XLON

00399604946TRLO1

17 June 2026 15:47:30

165

                      905.00

XLON

00399604967TRLO1

17 June 2026 15:47:30

80

                      906.00

XLON

00399604968TRLO1

17 June 2026 15:47:30

98

                      906.00

XLON

00399604969TRLO1

17 June 2026 15:47:30

165

                      905.00

XLON

00399604971TRLO1

17 June 2026 15:47:30

171

                      905.00

XLON

00399604994TRLO1

17 June 2026 15:47:33

175

                      904.50

XLON

00399605029TRLO1

17 June 2026 15:47:35

167

                      904.00

XLON

00399605054TRLO1

17 June 2026 15:47:46

175

                      903.50

XLON

00399605113TRLO1

17 June 2026 15:48:03

167

                      904.00

XLON

00399605155TRLO1

17 June 2026 15:48:05

165

                      904.00

XLON

00399605158TRLO1

17 June 2026 15:52:08

86

                      906.00

XLON

00399605460TRLO1

17 June 2026 15:53:22

86

                      905.50

XLON

00399605508TRLO1

17 June 2026 15:56:22

81

                      907.00

XLON

00399605707TRLO1

17 June 2026 15:58:17

82

                      906.50

XLON

00399605845TRLO1

17 June 2026 15:58:17

81

                      906.50

XLON

00399605846TRLO1

17 June 2026 16:00:41

169

                      907.50

XLON

00399606151TRLO1

17 June 2026 16:01:07

98

                      908.00

XLON

00399606215TRLO1

17 June 2026 16:01:11

7

                      908.00

XLON

00399606217TRLO1

17 June 2026 16:05:29

168

                      907.50

XLON

00399606763TRLO1

17 June 2026 16:17:03

91

                      908.00

XLON

00399607753TRLO1

17 June 2026 16:19:34

5

                      908.50

XLON

00399608052TRLO1

 

 

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.

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