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GAMA Gamma Communications News Story

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REG - Gamma Communications - Transaction in Own Shares

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RNS Number : 3424F  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                                      +44 (0) 33 3006 5972

 Martin Hellawell, Chair

 Andrew Belshaw, Chief Executive Officer

 Rachael Matzopoulos, Company Secretary

 Barclays Bank PLC, acting through its Investment Bank         +44 (0) 20 7623 2323

 (Lead Financial Adviser)

 Alastair Blackman / Alex Evans / Callum West / Michael Hart

 Q Advisors (Joint Financial Adviser)                          +1 720 837 3214

 Michael Quinn / Kristian MacCarter

 Investec (Joint Financial Adviser and Joint Broker)           +44 (0) 20 7597 5970

 Patrick Robb / Virginia Bull 

 Peel Hunt (Joint Financial Adviser and Joint Broker)          +44 (0) 20 7418 8900

 Neil Patel / Alice Lane / Benjamin Cryer

  
 Teneo (Financial PR Adviser)                                  +44 (0) 20 7260 2700

 James Macey White / Matt Low

  

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.

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