Investec Bank plc (INVP.L) offloaded 25,000 ordinary shares in Gamma Communications Plc (GAMA.L) at a uniform price of 1093 pence per share on October 27, 2026.
The transaction was executed at a single fixed price, with both the highest and lowest recorded unit values coming in identically at 1093p, indicating a clean block sale with no price variation across the deal.
Investec made the transaction in its capacity as an exempt principal trader operating with recognised intermediary status, acting in a client-serving role under the provisions of the UK Takeover Code.
The disclosure, filed on October 28, 2026, was submitted under Rule 8.5 of the Takeover Code, which governs public dealing disclosures by exempt principal traders connected to parties involved in a takeover situation.
Notably, Investec holds the position of Joint Broker to Gamma Communications, a relationship that requires the bank to file these regulatory disclosures whenever it deals in Gamma’s relevant securities.
The filing confirmed that no cash-settled derivative transactions were involved, and no stock-settled derivatives or options were exercised or written in connection with this activity.
Investec also declared that no indemnity arrangements, option agreements, or any formal or informal understandings existed that might represent an inducement to deal or refrain from dealing in Gamma’s securities.
Similarly, the bank confirmed the absence of any agreements relating to voting rights or the future acquisition or disposal of securities referenced by any derivative instrument.
Gary Darch was listed as the contact person for the disclosure, submitted in compliance with requirements to report to a Regulatory Information Service under the Takeover Panel’s oversight framework.
The UK Takeover Panel’s Market Surveillance Unit oversees compliance with these dealing disclosure obligations, providing a mechanism for market participants to consult on reporting requirements throughout a live offer process.
Gamma Communications is a cloud communications provider whose shares trade on the London Stock Exchange, and any connected party dealings during an offer period attract mandatory transparency requirements under the Code.
The filing represents a routine but legally significant step in maintaining market integrity during periods when companies are subject to potential takeover activity, ensuring all participants have equal visibility into share movements by connected intermediaries.
