Transaction in Own Shares

Summary by AI BETAClose X

Gamma Communications PLC has purchased 23,281 ordinary shares on May 29, 2026, as part of its ongoing share buyback program. The weighted average price per share was 962.41 pence, with prices ranging from 956.50 to 994.00 pence. Following this transaction, the company has bought back a total of 1,878,099 shares, leaving 90,308,530 ordinary shares in issue. The company intends to cancel the repurchased shares.

Disclaimer*

Gamma Communications PLC
01 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

1 June 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:

29 May 2026

Number of ordinary shares purchased:

23,281

Lowest price per share (pence):

956.50

Highest price per share (pence):

994.00

Weighted average price per day (pence):

962.4109

 

 The Company intends to cancel the purchased ordinary shares.

 

Following settlement of the above purchases, Gamma has purchased a total of 1,878,099 ordinary shares since the commencement of the buyback programme and will have 91,886,252 ordinary shares in issue. There are 1,577,722 ordinary shares held in treasury. The total voting rights in the Company are therefore 90,308,530 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 90,308,530 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

        962.4109

            23,281

            956.50

            994.00

 

 

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

29 May 2026 08:02:05

148

                      994.00

XLON

00396201021TRLO1

29 May 2026 08:03:08

45

                      977.50

XLON

00396201826TRLO1

29 May 2026 08:03:08

40

                      977.50

XLON

00396201827TRLO1

29 May 2026 08:04:16

82

                      961.00

XLON

00396202873TRLO1

29 May 2026 08:14:55

79

                      956.50

XLON

00396210879TRLO1

29 May 2026 08:14:59

79

                      957.00

XLON

00396210929TRLO1

29 May 2026 08:15:07

78

                      957.50

XLON

00396211033TRLO1

29 May 2026 08:33:30

83

                      959.50

XLON

00396224002TRLO1

29 May 2026 08:33:30

138

                      959.50

XLON

00396224003TRLO1

29 May 2026 08:33:30

26

                      959.50

XLON

00396224004TRLO1

29 May 2026 08:39:40

78

                      958.50

XLON

00396227708TRLO1

29 May 2026 08:49:25

78

                      960.50

XLON

00396240420TRLO1

29 May 2026 08:49:33

8

                      963.00

XLON

00396240565TRLO1

29 May 2026 08:49:33

103

                      963.00

XLON

00396240566TRLO1

29 May 2026 08:53:39

81

                      965.00

XLON

00396245029TRLO1

29 May 2026 08:53:39

30

                      965.50

XLON

00396245030TRLO1

29 May 2026 08:53:39

81

                      964.50

XLON

00396245031TRLO1

29 May 2026 08:54:06

52

                      966.50

XLON

00396245521TRLO1

29 May 2026 08:54:06

156

                      965.00

XLON

00396245522TRLO1

29 May 2026 08:55:58

158

                      964.00

XLON

00396247162TRLO1

29 May 2026 08:55:58

159

                      962.50

XLON

00396247164TRLO1

29 May 2026 08:56:00

150

                      963.00

XLON

00396247195TRLO1

29 May 2026 08:56:00

11

                      963.00

XLON

00396247196TRLO1

29 May 2026 08:56:00

82

                      963.00

XLON

00396247197TRLO1

29 May 2026 08:56:08

68

                      962.00

XLON

00396247313TRLO1

29 May 2026 08:56:08

13

                      962.00

XLON

00396247314TRLO1

29 May 2026 08:58:59

15

                      964.00

XLON

00396249647TRLO1

29 May 2026 08:58:59

64

                      964.00

XLON

00396249648TRLO1

29 May 2026 09:08:34

79

                      964.00

XLON

00396256507TRLO1

29 May 2026 09:08:51

80

                      964.00

XLON

00396256680TRLO1

29 May 2026 09:08:51

10

                      964.50

XLON

00396256681TRLO1

29 May 2026 09:08:51

21

                      964.50

XLON

00396256682TRLO1

29 May 2026 09:08:53

84

                      963.00

XLON

00396256688TRLO1

29 May 2026 09:18:00

7

                      963.00

XLON

00396264354TRLO1

29 May 2026 09:18:00

151

                      963.00

XLON

00396264355TRLO1

29 May 2026 09:18:19

13

                      964.00

XLON

00396264596TRLO1

29 May 2026 09:18:19

43

                      964.00

XLON

00396264597TRLO1

29 May 2026 09:21:41

7

                      964.50

XLON

00396267218TRLO1

29 May 2026 09:28:28

21

                      965.50

XLON

00396272703TRLO1

29 May 2026 09:29:16

185

                      966.00

XLON

00396273146TRLO1

29 May 2026 09:33:48

88

                      966.50

XLON

00396275873TRLO1

29 May 2026 09:33:48

22

                      966.50

XLON

00396275874TRLO1

29 May 2026 09:34:02

250

                      965.50

XLON

00396275999TRLO1

29 May 2026 09:39:23

21

                      965.00

XLON

00396279885TRLO1

29 May 2026 09:39:23

59

                      965.00

XLON

00396279886TRLO1

29 May 2026 09:39:24

80

                      963.50

XLON

00396279918TRLO1

29 May 2026 09:47:10

84

                      963.00

XLON

00396284318TRLO1

29 May 2026 09:47:10

84

                      963.00

XLON

00396284319TRLO1

29 May 2026 09:51:52

10

                      964.50

XLON

00396287035TRLO1

29 May 2026 09:58:40

137

                      965.00

XLON

00396290377TRLO1

29 May 2026 09:58:40

21

                      965.00

XLON

00396290378TRLO1

29 May 2026 10:00:28

161

                      966.00

XLON

00396291094TRLO1

29 May 2026 10:03:30

59

                      967.00

XLON

00396292377TRLO1

29 May 2026 10:07:31

13

                      969.00

XLON

00396294175TRLO1

29 May 2026 10:07:31

142

                      969.00

XLON

00396294176TRLO1

29 May 2026 10:09:46

78

                      969.00

XLON

00396295976TRLO1

29 May 2026 10:12:28

78

                      968.50

XLON

00396297368TRLO1

29 May 2026 10:13:38

156

                      967.50

XLON

00396298212TRLO1

29 May 2026 10:18:41

155

                      967.00

XLON

00396301483TRLO1

29 May 2026 10:18:41

146

                      966.50

XLON

00396301485TRLO1

29 May 2026 10:18:41

12

                      966.50

XLON

00396301486TRLO1

29 May 2026 10:24:06

12

                      966.00

XLON

00396305459TRLO1

29 May 2026 10:24:06

146

                      966.00

XLON

00396305460TRLO1

29 May 2026 10:24:06

78

                      966.00

XLON

00396305461TRLO1

29 May 2026 10:24:08

178

                      966.00

XLON

00396305482TRLO1

29 May 2026 10:24:08

60

                      966.00

XLON

00396305483TRLO1

29 May 2026 10:24:08

36

                      966.00

XLON

00396305484TRLO1

29 May 2026 10:36:29

238

                      968.00

XLON

00396324841TRLO1

29 May 2026 10:44:48

61

                      967.50

XLON

00396336221TRLO1

29 May 2026 10:44:48

54

                      967.50

XLON

00396336222TRLO1

29 May 2026 10:46:01

90

                      968.00

XLON

00396337296TRLO1

29 May 2026 10:46:01

69

                      968.00

XLON

00396337297TRLO1

29 May 2026 10:53:02

160

                      969.00

XLON

00396343806TRLO1

29 May 2026 11:06:10

84

                      967.00

XLON

00396349543TRLO1

29 May 2026 11:06:10

84

                      967.00

XLON

00396349544TRLO1

29 May 2026 11:18:19

103

                      968.00

XLON

00396349817TRLO1

29 May 2026 11:18:19

147

                      968.00

XLON

00396349818TRLO1

29 May 2026 11:18:19

52

                      968.00

XLON

00396349819TRLO1

29 May 2026 11:18:19

40

                      967.00

XLON

00396349820TRLO1

29 May 2026 11:26:46

81

                      967.50

XLON

00396350063TRLO1

29 May 2026 11:26:46

161

                      967.50

XLON

00396350064TRLO1

29 May 2026 11:28:33

240

                      967.00

XLON

00396350112TRLO1

29 May 2026 11:35:13

37

                      967.50

XLON

00396350301TRLO1

29 May 2026 11:35:13

48

                      967.50

XLON

00396350302TRLO1

29 May 2026 11:35:13

85

                      966.50

XLON

00396350303TRLO1

29 May 2026 11:35:13

78

                      966.50

XLON

00396350304TRLO1

29 May 2026 11:48:43

78

                      966.00

XLON

00396352171TRLO1

29 May 2026 11:48:43

78

                      966.00

XLON

00396352172TRLO1

29 May 2026 11:48:43

78

                      966.00

XLON

00396352173TRLO1

29 May 2026 11:55:04

135

                      966.50

XLON

00396352450TRLO1

29 May 2026 11:56:06

160

                      965.00

XLON

00396352505TRLO1

29 May 2026 12:04:33

241

                      964.50

XLON

00396352989TRLO1

29 May 2026 12:17:46

85

                      964.00

XLON

00396353382TRLO1

29 May 2026 12:17:46

253

                      964.00

XLON

00396353383TRLO1

29 May 2026 12:21:36

82

                      963.00

XLON

00396353508TRLO1

29 May 2026 12:23:00

10

                      963.00

XLON

00396353545TRLO1

29 May 2026 12:23:00

31

                      963.00

XLON

00396353546TRLO1

29 May 2026 12:23:01

39

                      963.00

XLON

00396353548TRLO1

29 May 2026 12:23:01

41

                      963.00

XLON

00396353549TRLO1

29 May 2026 12:23:15

82

                      962.50

XLON

00396353561TRLO1

29 May 2026 12:25:13

81

                      962.00

XLON

00396353626TRLO1

29 May 2026 12:28:52

61

                      961.50

XLON

00396353751TRLO1

29 May 2026 12:28:52

17

                      961.50

XLON

00396353752TRLO1

29 May 2026 12:30:45

79

                      961.00

XLON

00396353799TRLO1

29 May 2026 12:44:39

161

                      961.00

XLON

00396354185TRLO1

29 May 2026 12:44:39

5

                      961.00

XLON

00396354186TRLO1

29 May 2026 12:45:45

332

                      961.00

XLON

00396354231TRLO1

29 May 2026 12:48:08

235

                      960.50

XLON

00396354335TRLO1

29 May 2026 12:51:27

162

                      959.50

XLON

00396354401TRLO1

29 May 2026 12:52:41

158

                      959.00

XLON

00396354455TRLO1

29 May 2026 12:52:42

167

                      959.00

XLON

00396354480TRLO1

29 May 2026 13:03:33

161

                      961.50

XLON

00396354837TRLO1

29 May 2026 13:03:33

157

                      961.00

XLON

00396354838TRLO1

29 May 2026 13:14:04

78

                      960.00

XLON

00396355205TRLO1

29 May 2026 13:14:04

73

                      960.00

XLON

00396355206TRLO1

29 May 2026 13:14:04

5

                      960.00

XLON

00396355207TRLO1

29 May 2026 13:18:11

424

                      961.00

XLON

00396355342TRLO1

29 May 2026 13:27:33

333

                      961.50

XLON

00396355819TRLO1

29 May 2026 13:31:45

78

                      962.00

XLON

00396355988TRLO1

29 May 2026 13:33:34

312

                      960.50

XLON

00396356110TRLO1

29 May 2026 13:33:34

325

                      960.00

XLON

00396356138TRLO1

29 May 2026 13:33:37

215

                      959.50

XLON

00396356165TRLO1

29 May 2026 13:33:37

13

                      959.50

XLON

00396356166TRLO1

29 May 2026 13:33:37

12

                      959.50

XLON

00396356167TRLO1

29 May 2026 13:38:31

168

                      959.00

XLON

00396356405TRLO1

29 May 2026 13:38:42

160

                      959.00

XLON

00396356414TRLO1

29 May 2026 13:51:33

245

                      959.50

XLON

00396356901TRLO1

29 May 2026 13:53:33

78

                      959.50

XLON

00396357023TRLO1

29 May 2026 13:58:13

80

                      960.00

XLON

00396357385TRLO1

29 May 2026 13:58:13

82

                      959.50

XLON

00396357386TRLO1

29 May 2026 14:03:49

85

                      959.50

XLON

00396357730TRLO1

29 May 2026 14:03:49

85

                      959.50

XLON

00396357731TRLO1

29 May 2026 14:03:49

84

                      959.50

XLON

00396357732TRLO1

29 May 2026 14:07:10

195

                      959.50

XLON

00396357972TRLO1

29 May 2026 14:11:38

168

                      960.50

XLON

00396358237TRLO1

29 May 2026 14:13:47

61

                      961.50

XLON

00396358364TRLO1

29 May 2026 14:13:47

185

                      961.50

XLON

00396358365TRLO1

29 May 2026 14:15:52

157

                      960.50

XLON

00396358452TRLO1

29 May 2026 14:15:52

168

                      960.00

XLON

00396358453TRLO1

29 May 2026 14:20:53

84

                      959.50

XLON

00396358703TRLO1

29 May 2026 14:21:01

82

                      959.00

XLON

00396358710TRLO1

29 May 2026 14:25:22

82

                      958.50

XLON

00396358851TRLO1

29 May 2026 14:26:01

166

                      958.50

XLON

00396358922TRLO1

29 May 2026 14:29:23

88

                      958.50

XLON

00396359131TRLO1

29 May 2026 14:29:38

83

                      958.50

XLON

00396359154TRLO1

29 May 2026 14:29:52

85

                      958.50

XLON

00396359159TRLO1

29 May 2026 14:30:06

416

                      957.50

XLON

00396359229TRLO1

29 May 2026 14:32:56

315

                      959.50

XLON

00396359495TRLO1

29 May 2026 14:35:22

21

                      959.00

XLON

00396359627TRLO1

29 May 2026 14:35:22

226

                      959.00

XLON

00396359628TRLO1

29 May 2026 14:35:57

166

                      958.50

XLON

00396359674TRLO1

29 May 2026 14:36:31

109

                      958.50

XLON

00396359729TRLO1

29 May 2026 14:36:31

58

                      958.50

XLON

00396359730TRLO1

29 May 2026 14:44:14

80

                      961.00

XLON

00396360218TRLO1

29 May 2026 14:45:22

81

                      960.50

XLON

00396360271TRLO1

29 May 2026 14:45:35

80

                      960.00

XLON

00396360279TRLO1

29 May 2026 14:45:36

78

                      959.50

XLON

00396360280TRLO1

29 May 2026 14:45:49

78

                      959.00

XLON

00396360286TRLO1

29 May 2026 14:48:55

83

                      958.50

XLON

00396360550TRLO1

29 May 2026 14:51:04

81

                      958.00

XLON

00396360724TRLO1

29 May 2026 14:51:04

80

                      958.00

XLON

00396360725TRLO1

29 May 2026 14:51:04

81

                      958.00

XLON

00396360726TRLO1

29 May 2026 15:04:07

321

                      959.00

XLON

00396361411TRLO1

29 May 2026 15:04:24

80

                      959.00

XLON

00396361429TRLO1

29 May 2026 15:09:17

73

                      959.00

XLON

00396361653TRLO1

29 May 2026 15:09:18

79

                      958.50

XLON

00396361654TRLO1

29 May 2026 15:14:11

159

                      958.50

XLON

00396362005TRLO1

29 May 2026 15:14:11

146

                      958.50

XLON

00396362006TRLO1

29 May 2026 15:14:16

168

                      958.00

XLON

00396362015TRLO1

29 May 2026 15:14:43

158

                      957.50

XLON

00396362038TRLO1

29 May 2026 15:17:07

260

                      959.50

XLON

00396362168TRLO1

29 May 2026 15:19:26

160

                      959.50

XLON

00396362342TRLO1

29 May 2026 15:20:57

124

                      960.00

XLON

00396362429TRLO1

29 May 2026 15:24:37

254

                      961.00

XLON

00396362593TRLO1

29 May 2026 15:24:37

153

                      961.00

XLON

00396362594TRLO1

29 May 2026 15:30:26

3

                      960.50

XLON

00396362970TRLO1

29 May 2026 15:30:26

156

                      960.50

XLON

00396362971TRLO1

29 May 2026 15:30:26

75

                      960.50

XLON

00396362972TRLO1

29 May 2026 15:30:33

81

                      960.50

XLON

00396362979TRLO1

29 May 2026 15:30:53

84

                      960.50

XLON

00396363051TRLO1

29 May 2026 15:31:13

82

                      960.50

XLON

00396363071TRLO1

29 May 2026 15:36:11

291

                      961.50

XLON

00396363402TRLO1

29 May 2026 15:36:14

107

                      960.50

XLON

00396363404TRLO1

29 May 2026 15:37:11

75

                      960.50

XLON

00396363479TRLO1

29 May 2026 15:37:11

135

                      960.50

XLON

00396363480TRLO1

29 May 2026 15:37:11

21

                      960.50

XLON

00396363481TRLO1

29 May 2026 15:37:11

58

                      960.50

XLON

00396363482TRLO1

29 May 2026 15:39:55

135

                      960.50

XLON

00396363732TRLO1

29 May 2026 15:39:55

103

                      960.50

XLON

00396363733TRLO1

29 May 2026 15:39:55

78

                      960.50

XLON

00396363734TRLO1

29 May 2026 15:43:01

78

                      960.00

XLON

00396363912TRLO1

29 May 2026 15:43:01

77

                      960.00

XLON

00396363913TRLO1

29 May 2026 15:43:01

77

                      960.00

XLON

00396363914TRLO1

29 May 2026 15:43:02

7

                      959.50

XLON

00396363915TRLO1

29 May 2026 15:44:13

79

                      960.00

XLON

00396363970TRLO1

29 May 2026 15:44:55

8

                      960.00

XLON

00396364002TRLO1

29 May 2026 15:44:55

70

                      960.00

XLON

00396364003TRLO1

29 May 2026 15:47:22

156

                      959.50

XLON

00396364099TRLO1

29 May 2026 15:51:28

327

                      964.00

XLON

00396364369TRLO1

29 May 2026 15:51:29

83

                      963.50

XLON

00396364372TRLO1

29 May 2026 15:51:30

81

                      963.00

XLON

00396364380TRLO1

29 May 2026 15:51:34

84

                      961.50

XLON

00396364391TRLO1

29 May 2026 15:53:46

78

                      964.50

XLON

00396364578TRLO1

29 May 2026 15:53:46

240

                      964.00

XLON

00396364579TRLO1

29 May 2026 15:53:47

160

                      963.50

XLON

00396364580TRLO1

29 May 2026 15:54:43

84

                      962.50

XLON

00396364671TRLO1

29 May 2026 15:54:43

83

                      962.50

XLON

00396364672TRLO1

29 May 2026 16:00:51

84

                      964.00

XLON

00396365236TRLO1

29 May 2026 16:00:51

84

                      964.00

XLON

00396365237TRLO1

29 May 2026 16:07:27

169

                      965.00

XLON

00396365658TRLO1

29 May 2026 16:07:27

84

                      965.00

XLON

00396365659TRLO1

29 May 2026 16:08:44

78

                      967.00

XLON

00396365747TRLO1

29 May 2026 16:08:44

78

                      967.00

XLON

00396365750TRLO1

29 May 2026 16:13:33

79

                      965.50

XLON

00396366015TRLO1

29 May 2026 16:14:05

84

                      966.00

XLON

00396366042TRLO1

29 May 2026 16:14:05

83

                      966.00

XLON

00396366043TRLO1

29 May 2026 16:14:25

78

                      965.50

XLON

00396366063TRLO1

29 May 2026 16:17:04

22

                      965.00

XLON

00396366271TRLO1

29 May 2026 16:17:04

62

                      965.00

XLON

00396366272TRLO1

 

 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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