Transaction in Own Shares

Gamma Communications PLC

22 May 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

22 May 2026                                          

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:	21 May 2026
Number of ordinary shares purchased:	23,500
Lowest price per share (pence):	965.00
Highest price per share (pence):	992.50
Weighted average price per day (pence):	978.2209

 The Company intends to cancel the purchased ordinary shares.

Following settlement of the above purchases, Gamma has purchased a total of 1,762,776 ordinary shares since the commencement of the buyback programme and will have 92,001,575 ordinary shares in issue. There are 1,578,525 ordinary shares held in treasury. The total voting rights in the Company are therefore 90,423,050 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 90,423,050 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	978.2209	23,500	965.00	992.50

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
21 May 2026 08:14:00	81	979.00	XLON	00395225090TRLO1
21 May 2026 08:14:03	81	978.50	XLON	00395225102TRLO1
21 May 2026 08:14:03	78	980.00	XLON	00395225103TRLO1
21 May 2026 08:14:03	10	980.00	XLON	00395225104TRLO1
21 May 2026 08:17:02	207	981.50	XLON	00395226341TRLO1
21 May 2026 08:17:02	57	981.50	XLON	00395226342TRLO1
21 May 2026 08:17:02	78	978.50	XLON	00395226343TRLO1
21 May 2026 08:17:10	83	979.50	XLON	00395226397TRLO1
21 May 2026 08:17:49	83	978.00	XLON	00395226865TRLO1
21 May 2026 08:18:09	79	978.50	XLON	00395227060TRLO1
21 May 2026 08:18:09	62	977.50	XLON	00395227061TRLO1
21 May 2026 08:19:24	78	977.50	XLON	00395228058TRLO1
21 May 2026 08:22:11	83	977.50	XLON	00395229920TRLO1
21 May 2026 08:24:32	79	980.00	XLON	00395231199TRLO1
21 May 2026 08:24:32	3	980.00	XLON	00395231200TRLO1
21 May 2026 08:25:26	79	978.50	XLON	00395231780TRLO1
21 May 2026 08:25:26	3	978.50	XLON	00395231781TRLO1
21 May 2026 08:25:45	80	978.00	XLON	00395231976TRLO1
21 May 2026 08:27:40	83	977.50	XLON	00395232984TRLO1
21 May 2026 08:30:00	78	976.50	XLON	00395234533TRLO1
21 May 2026 08:30:32	78	976.50	XLON	00395235001TRLO1
21 May 2026 08:30:51	77	975.50	XLON	00395235202TRLO1
21 May 2026 08:30:58	80	975.50	XLON	00395235278TRLO1
21 May 2026 08:30:58	80	975.50	XLON	00395235279TRLO1
21 May 2026 08:31:22	79	975.50	XLON	00395235525TRLO1
21 May 2026 08:32:52	81	975.50	XLON	00395236873TRLO1
21 May 2026 08:36:15	77	976.50	XLON	00395239299TRLO1
21 May 2026 08:38:51	79	977.50	XLON	00395240561TRLO1
21 May 2026 08:38:51	79	977.50	XLON	00395240562TRLO1
21 May 2026 08:40:47	80	977.00	XLON	00395241362TRLO1
21 May 2026 08:44:22	82	980.00	XLON	00395242946TRLO1
21 May 2026 08:50:34	80	985.00	XLON	00395245762TRLO1
21 May 2026 08:55:47	79	986.50	XLON	00395248481TRLO1
21 May 2026 08:56:48	78	986.50	XLON	00395248878TRLO1
21 May 2026 08:56:51	77	987.00	XLON	00395248892TRLO1
21 May 2026 08:56:51	77	987.00	XLON	00395248893TRLO1
21 May 2026 08:56:51	77	987.00	XLON	00395248894TRLO1
21 May 2026 08:56:55	77	987.00	XLON	00395248969TRLO1
21 May 2026 08:57:28	80	986.50	XLON	00395249183TRLO1
21 May 2026 08:58:27	77	986.50	XLON	00395249684TRLO1
21 May 2026 09:00:45	21	984.50	XLON	00395250527TRLO1
21 May 2026 09:00:45	59	984.50	XLON	00395250528TRLO1
21 May 2026 09:00:45	83	982.50	XLON	00395250529TRLO1
21 May 2026 09:00:51	83	981.00	XLON	00395250550TRLO1
21 May 2026 09:02:07	82	978.50	XLON	00395251009TRLO1
21 May 2026 09:10:03	84	978.50	XLON	00395254902TRLO1
21 May 2026 09:17:01	81	980.50	XLON	00395257984TRLO1
21 May 2026 09:21:09	81	979.50	XLON	00395259427TRLO1
21 May 2026 09:21:14	79	979.00	XLON	00395259445TRLO1
21 May 2026 09:25:25	79	981.00	XLON	00395262006TRLO1
21 May 2026 09:29:19	76	981.00	XLON	00395263320TRLO1
21 May 2026 09:29:19	5	981.00	XLON	00395263321TRLO1
21 May 2026 09:30:27	5	980.50	XLON	00395263762TRLO1
21 May 2026 09:30:27	76	980.50	XLON	00395263763TRLO1
21 May 2026 09:30:29	81	980.00	XLON	00395263775TRLO1
21 May 2026 09:30:29	322	980.00	XLON	00395263776TRLO1
21 May 2026 09:39:03	154	982.00	XLON	00395267562TRLO1
21 May 2026 09:39:32	79	982.00	XLON	00395267749TRLO1
21 May 2026 09:40:36	3	983.00	XLON	00395268169TRLO1
21 May 2026 09:40:37	83	983.50	XLON	00395268178TRLO1
21 May 2026 09:40:37	77	983.50	XLON	00395268179TRLO1
21 May 2026 09:52:20	2	985.50	XLON	00395275387TRLO1
21 May 2026 10:06:55	17	988.00	XLON	00395283429TRLO1
21 May 2026 10:06:55	313	988.00	XLON	00395283430TRLO1
21 May 2026 10:13:42	83	989.00	XLON	00395286422TRLO1
21 May 2026 10:18:07	77	988.50	XLON	00395288686TRLO1
21 May 2026 10:18:07	76	988.50	XLON	00395288687TRLO1
21 May 2026 10:18:51	166	988.00	XLON	00395288900TRLO1
21 May 2026 10:22:34	165	990.00	XLON	00395290750TRLO1
21 May 2026 10:22:34	127	990.00	XLON	00395290751TRLO1
21 May 2026 10:22:34	31	990.00	XLON	00395290752TRLO1
21 May 2026 10:22:34	31	990.00	XLON	00395290753TRLO1
21 May 2026 10:22:34	127	990.00	XLON	00395290754TRLO1
21 May 2026 10:30:44	166	991.50	XLON	00395294559TRLO1
21 May 2026 10:30:44	164	991.50	XLON	00395294560TRLO1
21 May 2026 10:31:50	164	991.00	XLON	00395295024TRLO1
21 May 2026 10:34:57	139	991.00	XLON	00395296574TRLO1
21 May 2026 10:34:57	107	991.00	XLON	00395296575TRLO1
21 May 2026 10:39:21	7	992.00	XLON	00395299094TRLO1
21 May 2026 10:40:07	1	992.00	XLON	00395299783TRLO1
21 May 2026 10:42:00	79	992.00	XLON	00395300624TRLO1
21 May 2026 10:49:59	251	992.50	XLON	00395306729TRLO1
21 May 2026 10:52:12	158	991.50	XLON	00395308308TRLO1
21 May 2026 11:06:36	157	990.00	XLON	00395313550TRLO1
21 May 2026 11:06:36	79	990.00	XLON	00395313551TRLO1
21 May 2026 11:06:36	79	990.00	XLON	00395313552TRLO1
21 May 2026 11:06:36	78	990.00	XLON	00395313553TRLO1
21 May 2026 11:06:36	78	990.00	XLON	00395313554TRLO1
21 May 2026 11:06:46	54	991.50	XLON	00395313563TRLO1
21 May 2026 11:08:59	246	992.00	XLON	00395313608TRLO1
21 May 2026 11:10:05	1	991.00	XLON	00395313666TRLO1
21 May 2026 11:10:38	220	991.50	XLON	00395313713TRLO1
21 May 2026 11:10:38	12	991.50	XLON	00395313714TRLO1
21 May 2026 11:10:38	1	991.50	XLON	00395313715TRLO1
21 May 2026 11:18:30	322	990.00	XLON	00395314093TRLO1
21 May 2026 11:18:30	80	990.00	XLON	00395314094TRLO1
21 May 2026 11:18:30	80	990.00	XLON	00395314095TRLO1
21 May 2026 11:26:04	158	991.00	XLON	00395314530TRLO1
21 May 2026 11:26:04	78	991.00	XLON	00395314531TRLO1
21 May 2026 11:26:22	166	990.00	XLON	00395314602TRLO1
21 May 2026 11:26:33	82	988.00	XLON	00395314615TRLO1
21 May 2026 11:28:01	79	987.00	XLON	00395314825TRLO1
21 May 2026 11:28:01	80	987.00	XLON	00395314826TRLO1
21 May 2026 11:33:34	155	985.00	XLON	00395315306TRLO1
21 May 2026 11:38:37	81	984.00	XLON	00395315603TRLO1
21 May 2026 11:38:37	80	984.00	XLON	00395315604TRLO1
21 May 2026 11:49:07	478	983.50	XLON	00395316154TRLO1
21 May 2026 11:52:30	233	983.00	XLON	00395316301TRLO1
21 May 2026 12:08:00	166	978.50	XLON	00395317198TRLO1
21 May 2026 12:15:51	229	979.50	XLON	00395317650TRLO1
21 May 2026 12:15:51	76	979.50	XLON	00395317651TRLO1
21 May 2026 12:15:51	76	979.50	XLON	00395317652TRLO1
21 May 2026 12:23:39	156	980.50	XLON	00395318135TRLO1
21 May 2026 12:24:02	168	978.50	XLON	00395318199TRLO1
21 May 2026 12:25:37	240	975.50	XLON	00395318343TRLO1
21 May 2026 12:26:20	156	974.00	XLON	00395318355TRLO1
21 May 2026 12:34:05	104	975.50	XLON	00395318646TRLO1
21 May 2026 12:34:05	59	975.50	XLON	00395318647TRLO1
21 May 2026 12:34:25	81	975.00	XLON	00395318656TRLO1
21 May 2026 12:36:05	16	974.00	XLON	00395318693TRLO1
21 May 2026 12:36:05	63	974.00	XLON	00395318694TRLO1
21 May 2026 12:52:47	29	972.00	XLON	00395320717TRLO1
21 May 2026 12:55:35	27	972.50	XLON	00395320812TRLO1
21 May 2026 12:55:35	22	972.50	XLON	00395320813TRLO1
21 May 2026 12:55:35	22	972.50	XLON	00395320814TRLO1
21 May 2026 12:57:09	267	972.00	XLON	00395320835TRLO1
21 May 2026 13:05:30	187	972.50	XLON	00395321040TRLO1
21 May 2026 13:08:21	218	972.00	XLON	00395321123TRLO1
21 May 2026 13:21:29	233	973.50	XLON	00395321438TRLO1
21 May 2026 13:21:29	78	973.50	XLON	00395321439TRLO1
21 May 2026 13:30:18	319	970.50	XLON	00395321684TRLO1
21 May 2026 13:30:18	80	970.50	XLON	00395321685TRLO1
21 May 2026 13:30:18	80	970.50	XLON	00395321686TRLO1
21 May 2026 13:30:18	79	970.50	XLON	00395321687TRLO1
21 May 2026 13:30:18	80	970.50	XLON	00395321688TRLO1
21 May 2026 14:08:45	237	973.50	XLON	00395322691TRLO1
21 May 2026 14:17:00	318	973.00	XLON	00395323039TRLO1
21 May 2026 14:27:16	244	972.00	XLON	00395323480TRLO1
21 May 2026 14:27:16	81	972.00	XLON	00395323481TRLO1
21 May 2026 14:27:47	250	970.50	XLON	00395323542TRLO1
21 May 2026 14:31:25	315	969.50	XLON	00395323937TRLO1
21 May 2026 14:31:25	78	969.50	XLON	00395323938TRLO1
21 May 2026 14:31:25	79	969.50	XLON	00395323939TRLO1
21 May 2026 14:38:30	187	965.00	XLON	00395324630TRLO1
21 May 2026 14:38:30	231	965.00	XLON	00395324631TRLO1
21 May 2026 14:58:00	179	968.00	XLON	00395326804TRLO1
21 May 2026 15:02:52	89	969.00	XLON	00395327209TRLO1
21 May 2026 15:05:23	329	968.50	XLON	00395327331TRLO1
21 May 2026 15:05:38	305	968.00	XLON	00395327339TRLO1
21 May 2026 15:14:54	324	971.00	XLON	00395328239TRLO1
21 May 2026 15:15:37	168	970.50	XLON	00395328371TRLO1
21 May 2026 15:15:37	74	970.50	XLON	00395328372TRLO1
21 May 2026 15:16:33	231	970.00	XLON	00395328449TRLO1
21 May 2026 15:33:50	467	972.50	XLON	00395329405TRLO1
21 May 2026 15:33:50	476	972.00	XLON	00395329406TRLO1
21 May 2026 15:34:18	249	973.50	XLON	00395329422TRLO1
21 May 2026 15:34:18	148	973.50	XLON	00395329423TRLO1
21 May 2026 15:35:14	308	973.00	XLON	00395329480TRLO1
21 May 2026 15:36:26	245	973.00	XLON	00395329524TRLO1
21 May 2026 15:41:39	235	972.50	XLON	00395329892TRLO1
21 May 2026 15:47:25	55	971.50	XLON	00395330196TRLO1
21 May 2026 15:55:17	305	974.50	XLON	00395330740TRLO1
21 May 2026 15:55:42	314	976.00	XLON	00395330784TRLO1
21 May 2026 15:55:48	323	975.00	XLON	00395330799TRLO1
21 May 2026 15:55:48	133	975.00	XLON	00395330800TRLO1
21 May 2026 15:56:12	247	974.50	XLON	00395330826TRLO1
21 May 2026 15:56:21	106	974.50	XLON	00395330847TRLO1
21 May 2026 15:59:48	58	974.50	XLON	00395331057TRLO1
21 May 2026 15:59:48	30	974.50	XLON	00395331058TRLO1
21 May 2026 16:00:17	384	975.00	XLON	00395331125TRLO1
21 May 2026 16:06:35	158	974.50	XLON	00395331609TRLO1
21 May 2026 16:06:35	79	974.50	XLON	00395331610TRLO1
21 May 2026 16:06:35	78	974.50	XLON	00395331611TRLO1
21 May 2026 16:07:23	55	973.50	XLON	00395331662TRLO1
21 May 2026 16:07:23	101	973.50	XLON	00395331663TRLO1
21 May 2026 16:08:24	77	973.00	XLON	00395331762TRLO1
21 May 2026 16:08:24	77	973.00	XLON	00395331763TRLO1
21 May 2026 16:10:52	325	974.50	XLON	00395331944TRLO1
21 May 2026 16:15:13	163	974.00	XLON	00395332590TRLO1
21 May 2026 16:15:13	82	974.00	XLON	00395332591TRLO1
21 May 2026 16:15:13	82	974.00	XLON	00395332592TRLO1
21 May 2026 16:15:13	81	974.00	XLON	00395332593TRLO1
21 May 2026 16:16:59	78	974.00	XLON	00395332703TRLO1
21 May 2026 16:17:28	77	974.00	XLON	00395332752TRLO1
21 May 2026 16:17:57	80	974.00	XLON	00395332852TRLO1
21 May 2026 16:18:24	58	974.00	XLON	00395332916TRLO1
21 May 2026 16:18:24	21	974.00	XLON	00395332917TRLO1
21 May 2026 16:18:51	80	974.00	XLON	00395332947TRLO1
21 May 2026 16:19:12	80	974.00	XLON	00395332983TRLO1
21 May 2026 16:19:32	78	974.00	XLON	00395333013TRLO1
21 May 2026 16:19:50	137	974.00	XLON	00395333045TRLO1

Enquiries:
Gamma Communications plc Martin Hellawell, Chair Andrew Belshaw, Chief Executive Officer Rachael Matzopoulos, Company Secretary	[phone]
Barclays Bank PLC, acting through its Investment Bank (Lead Financial Adviser) Alastair Blackman / Alex Evans / Callum West / Michael Hart	[phone]
Q Advisors (Joint Financial Adviser)  Michael Quinn / Kristian MacCarter	[phone]
Investec (Joint Financial Adviser and Joint Broker)  Patrick Robb / Virginia Bull	[phone]
Peel Hunt (Joint Financial Adviser and Joint Broker)  Neil Patel / Alice Lane / Benjamin Cryer	[phone]
Teneo (Financial PR Adviser)  James Macey White / Matt Low	[phone]

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 [phone] if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

 

END