Roughly two million ordinary shares in Gamma Communications Plc moved through a single trading session on 4 November 2026, triggering a formal regulatory filing the following morning.
The activity was carried out by Investec Bank plc, acting in a client-serving capacity as an exempt principal trader with recognised intermediary status under the UK Takeover Code.
Investec holds a dual role in the situation, serving as Joint Broker to Gamma Communications Plc, which required it to make the disclosure under Rule 8.5 of the Code.
The purchases side of the ledger showed 999,970 ordinary shares acquired at a uniform price of 1098 pence per unit, with no variation between the highest and lowest price paid.
On the sales side, Investec moved 962,128 ordinary shares, with prices ranging from a low of 1098 pence to a high of 1099.5 pence per unit.
Taken together, the two legs of activity represent a combined volume approaching 1.96 million shares traded across purchases and sales in a single session.
No cash-settled or stock-settled derivative transactions were recorded in connection with the dealings, and no options were written, purchased, or exercised.
Investec also confirmed there are no indemnity arrangements, option agreements, or understandings relating to voting rights or future acquisition of Gamma shares linked to the activity.
The disclosure was filed on 5 November 2026 under the jurisdiction of the UK Takeover Panel, whose Market Surveillance Unit oversees compliance with dealing disclosure requirements during offer periods.
Rule 8.5 of the Takeover Code requires exempt principal traders connected to parties in a takeover situation to publicly disclose their client-serving dealings through a Regulatory Information Service.
Gamma Communications trades on the London Stock Exchange under the ticker GAMA.L, while Investec Bank carries listings referenced under INVP.L and INL.JO across different markets.
The contact named on the filing is Abhishek Gawde, reachable at a number registered in India, suggesting the disclosure work was routed through Investec’s international operations team.
