{"success":true,"data":{"pressRelease":{"id":"141327","rtpr_id":"nGNE5qfhdN-20260911","ticker":"GAMA","exchange":"LSE","all_tickers":["GAMA"],"title":"REG-Man Group PLC : Form 8.3 - Gamma Communications Plc","author":"Globe Newswire","published_at":"2026-09-11T09:42:50.094Z","article_body":"FORM 8.3\n\nPUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY \nA PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE\nRule 8.3 of the Takeover Code (the “Code”)\n\n1.        KEY INFORMATION\n\n (a) Full name of discloser: Man Group PLC \n (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. \n (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree Gamma Communications plc \n (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: \n (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure 10/09/2026 \n (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? NO \n\n2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE\n\nIf there are positions or rights to subscribe to disclose in more than one\nclass of relevant securities of the offeror or offeree named in 1(c), copy\ntable 2(a) or (b) (as appropriate) for each additional class of relevant\nsecurity.\n\n(a)      Interests and short positions in the relevant securities of the\nofferor or offeree to which the disclosure relates following the dealing (if\nany)\n\n Class of relevant security: 0.25p ordinary \n Interests Short positions \n Number % Number % \n (1) Relevant securities owned and/or controlled: 106,108 0.11 \n (2) Cash-settled derivatives: 929,828 1.04 \n (3) Stock-settled derivatives (including options) and agreements to purchase/sell: \n TOTAL: 1,035,936 1.16 \n\nAll interests and all short positions should be disclosed.\n\nDetails of any open stock-settled derivative positions (including traded\noptions), or agreements to purchase or sell relevant securities, should be\ngiven on a Supplemental Form 8 (Open Positions).\n\n(b)      Rights to subscribe for new securities (including directors’\nand other employee options)\n\n Class of relevant security in relation to which subscription right exists: \n Details, including nature of the rights concerned and relevant percentages: \n\n3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE\n\nWhere there have been dealings in more than one class of relevant securities\nof the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as\nappropriate) for each additional class of relevant security dealt in.\n\nThe currency of all prices and other monetary amounts should be stated.\n\n(a)        Purchases and sales\n\n Class of relevant security Purchase/sale Number of securities Price per unit \n 0.25p ordinary Sale 1,078 11.7524 GBP \n 0.25p ordinary Sale 3,132 11.7524 GBP \n 0.25p ordinary Sale 40,058 11.7497 GBP \n 0.25p ordinary Sale 363 11.7524 GBP \n\n(b)        Cash-settled derivative transactions\n\n Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit \n 0.25p ordinary Equity swap Increasing a long position 14,292 11.7547 GBP \n 0.25p ordinary Equity swap Reducing a long position 749 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 3,959 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 23,516 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 14,337 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 70 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 60 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 2,032 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 2,401 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 3,203 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 3,087 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 3,289 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 3,894 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 241 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 170 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 459 11.7524 GBP \n 0.25p ordinary Equity swap Increasing a long position 14,292 11.7547 GBP \n 0.25p ordinary Equity swap Reducing a long position 749 11.7524 GBP \n\n        \n(c)        Stock-settled derivative transactions (including options)\n\n(i)        Writing, selling, purchasing or varying\n\n Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit \n\n(ii)        Exercise\n\n Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit \n\n(d)        Other dealings (including subscribing for new securities)\n\n Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable) \n\n4.        OTHER INFORMATION\n\n(a)        Indemnity and other dealing arrangements\n\n Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: \n None \n\n(b)        Agreements, arrangements or understandings relating to\noptions or derivatives\n\n Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: \n None \n\n(c)        Attachments\n\n Is a Supplemental Form 8 (Open Positions) attached? NO \n\n\n\n Date of disclosure: 11/09/2026 \n Contact name: Molly Childs \n Telephone number: +44 20 7144 3714 \n\nPublic disclosures under Rule 8 of the Code must be made to a Regulatory\nInformation Service.\n\nThe Panel’s Market Surveillance Unit is available for consultation in\nrelation to the Code’s disclosure requirements on +44 (0)20 7638 0129.\n\nThe Code can be viewed on the Panel’s website at\nwww.thetakeoverpanel.org.uk.","article_body_html":"","raw_payload":{"data":{"id":"nGNE5qfhdN-20260911","title":"REG-Man Group PLC : Form 8.3 - Gamma Communications Plc","author":"Globe Newswire","ticker":"GAMA","created":"2026-09-11T09:42:50.094Z","tickers":["GAMA"],"exchange":"LSE","article_body":"FORM 8.3\n\nPUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY \nA PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE\nRule 8.3 of the Takeover Code (the “Code”)\n\n1.        KEY INFORMATION\n\n (a) Full name of discloser: Man Group PLC \n (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. \n (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree Gamma Communications plc \n (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: \n (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure 10/09/2026 \n (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? NO \n\n2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE\n\nIf there are positions or rights to subscribe to disclose in more than one\nclass of relevant securities of the offeror or offeree named in 1(c), copy\ntable 2(a) or (b) (as appropriate) for each additional class of relevant\nsecurity.\n\n(a)      Interests and short positions in the relevant securities of the\nofferor or offeree to which the disclosure relates following the dealing (if\nany)\n\n Class of relevant security: 0.25p ordinary \n Interests Short positions \n Number % Number % \n (1) Relevant securities owned and/or controlled: 106,108 0.11 \n (2) Cash-settled derivatives: 929,828 1.04 \n (3) Stock-settled derivatives (including options) and agreements to purchase/sell: \n TOTAL: 1,035,936 1.16 \n\nAll interests and all short positions should be disclosed.\n\nDetails of any open stock-settled derivative positions (including traded\noptions), or agreements to purchase or sell relevant securities, should be\ngiven on a Supplemental Form 8 (Open Positions).\n\n(b)      Rights to subscribe for new securities (including directors’\nand other employee options)\n\n Class of relevant security in relation to which subscription right exists: \n Details, including nature of the rights concerned and relevant percentages: \n\n3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE\n\nWhere there have been dealings in more than one class of relevant securities\nof the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as\nappropriate) for each additional class of relevant security dealt in.\n\nThe currency of all prices and other monetary amounts should be stated.\n\n(a)        Purchases and sales\n\n Class of relevant security Purchase/sale Number of securities Price per unit \n 0.25p ordinary Sale 1,078 11.7524 GBP \n 0.25p ordinary Sale 3,132 11.7524 GBP \n 0.25p ordinary Sale 40,058 11.7497 GBP \n 0.25p ordinary Sale 363 11.7524 GBP \n\n(b)        Cash-settled derivative transactions\n\n Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit \n 0.25p ordinary Equity swap Increasing a long position 14,292 11.7547 GBP \n 0.25p ordinary Equity swap Reducing a long position 749 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 3,959 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 23,516 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 14,337 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 70 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 60 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 2,032 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 2,401 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 3,203 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 3,087 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 3,289 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 3,894 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 241 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 170 11.7524 GBP \n 0.25p ordinary Equity swap Reducing a long position 459 11.7524 GBP \n 0.25p ordinary Equity swap Increasing a long position 14,292 11.7547 GBP \n 0.25p ordinary Equity swap Reducing a long position 749 11.7524 GBP \n\n        \n(c)        Stock-settled derivative transactions (including options)\n\n(i)        Writing, selling, purchasing or varying\n\n Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit \n\n(ii)        Exercise\n\n Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit \n\n(d)        Other dealings (including subscribing for new securities)\n\n Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable) \n\n4.        OTHER INFORMATION\n\n(a)        Indemnity and other dealing arrangements\n\n Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: \n None \n\n(b)        Agreements, arrangements or understandings relating to\noptions or derivatives\n\n Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: \n None \n\n(c)        Attachments\n\n Is a Supplemental Form 8 (Open Positions) attached? NO \n\n\n\n Date of disclosure: 11/09/2026 \n Contact name: Molly Childs \n Telephone number: +44 20 7144 3714 \n\nPublic disclosures under Rule 8 of the Code must be made to a Regulatory\nInformation Service.\n\nThe Panel’s Market Surveillance Unit is available for consultation in\nrelation to the Code’s disclosure requirements on +44 (0)20 7638 0129.\n\nThe Code can be viewed on the Panel’s website at\nwww.thetakeoverpanel.org.uk."},"type":"article","timestamp":"2026-09-11T09:42:50.208879158Z","server_sent_at_ms":1789119770208},"received_at":"2026-09-11T09:42:50.263Z","source_url":null},"analysis":{"id":"130163","press_release_id":"141327","analysis_json":{"industry":{"label":"Diversified Telecommunication Services","sector":"Communication Services"},"redFlags":["Rule 8.3 filing confirms Gamma Communications is in a UK Takeover Code offer period, but the offeror and terms are not named in this disclosure","Man Group reduced cash-market holdings via sales while trimming most equity swap long positions, a net lightening of exposure"],"eventType":"regulatory","narrative":"Man Group PLC filed a Takeover Code Rule 8.3 public opening position/dealing disclosure relating to Gamma Communications plc, with positions as of 10 September 2026.\n\nMan Group disclosed a total position of 1,035,936 Gamma shares (1.16%), comprising 106,108 owned shares (0.11%) and 929,828 shares in cash-settled derivatives (1.04%).\n\nDuring the period Man Group sold blocks of Gamma ordinary shares at 11.7497-11.7524 GBP, the largest being 40,058 shares, while also increasing an equity swap long position by 14,292 shares at 11.7547 GBP and reducing several other swap longs.\n\nThe filing is routine offer-period disclosure under the UK Takeover Code; it names no offeror and discloses no offer terms for Gamma.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Routine Rule 8.3 position disclosure during the Gamma offer period -- no new information; suppress unless tracking institutional flows in GAMA."},"keyFigures":{"customDimensions":{"owned_pct":"0.11%","owned_shares":106108,"position_date":"10/09/2026","disclosure_date":"11/09/2026","total_position_pct":"1.16%","total_position_shares":1035936,"largest_cash_sale_shares":40058,"cash_sale_price_range_gbp":"11.7497-11.7524 GBP","cash_settled_derivative_pct":"1.04%","cash_settled_derivative_shares":929828}},"namedEntities":{"people":[{"name":"Molly Childs","role":"disclosure contact, Man Group PLC"}],"products":[],"companies":[{"name":"Gamma Communications plc","ticker":"GAMA","relationship":"subject company of the Rule 8.3 disclosure (offeror/offeree)"},{"name":"Man Group PLC","relationship":"discloser / >1% position-holding fund manager"},{"name":"UK Takeover Panel","relationship":"regulator whose Takeover Code governs the disclosure"}],"dollarAmounts":[{"amount":"11.7524 GBP","context":"price per share for multiple cash-market sales and equity swap long-position reductions"},{"amount":"11.7497 GBP","context":"price per share for the sale of 40,058 ordinary shares"},{"amount":"11.7547 GBP","context":"price per reference share for equity swap long-position increase of 14,292 shares"}]},"materialImpact":{"score":1,"reasoning":"Routine UK Takeover Code Rule 8.3 position/dealing disclosure by asset manager Man Group regarding Gamma Communications. It contains no new offer terms, no earnings data, and no change to Gamma's disclosed fundamentals; its only signal is that an offer period exists."},"tickerRelevance":{"others":[],"primary":"GAMA"},"globalImportance":10,"audienceRelevance":12,"eventTypeSecondary":["insider_transaction","m_and_a"],"importanceComponents":{"tickerTier":"mid-cap (FTSE 250, LSE-listed)","eventGravity":"routine-takeover-code-position-disclosure","issuerAuthored":false,"offerPeriodContext":true,"householdBrandBoost":0}},"event_type":"regulatory","event_type_secondary":["insider_transaction","m_and_a"],"sentiment":"neutral","material_impact_score":1,"narrative":"Man Group PLC filed a Takeover Code Rule 8.3 public opening position/dealing disclosure relating to Gamma Communications plc, with positions as of 10 September 2026.\n\nMan Group disclosed a total position of 1,035,936 Gamma shares (1.16%), comprising 106,108 owned shares (0.11%) and 929,828 shares in cash-settled derivatives (1.04%).\n\nDuring the period Man Group sold blocks of Gamma ordinary shares at 11.7497-11.7524 GBP, the largest being 40,058 shares, while also increasing an equity swap long position by 14,292 shares at 11.7547 GBP and reducing several other swap longs.\n\nThe filing is routine offer-period disclosure under the UK Takeover Code; it names no offeror and discloses no offer terms for Gamma.","key_figures":{"customDimensions":{"owned_pct":"0.11%","owned_shares":106108,"position_date":"10/09/2026","disclosure_date":"11/09/2026","total_position_pct":"1.16%","total_position_shares":1035936,"largest_cash_sale_shares":40058,"cash_sale_price_range_gbp":"11.7497-11.7524 GBP","cash_settled_derivative_pct":"1.04%","cash_settled_derivative_shares":929828}},"named_entities":{"people":[{"name":"Molly Childs","role":"disclosure contact, Man Group PLC"}],"products":[],"companies":[{"name":"Gamma Communications plc","ticker":"GAMA","relationship":"subject company of the Rule 8.3 disclosure (offeror/offeree)"},{"name":"Man Group PLC","relationship":"discloser / >1% position-holding fund manager"},{"name":"UK Takeover Panel","relationship":"regulator whose Takeover Code governs the disclosure"}],"dollarAmounts":[{"amount":"11.7524 GBP","context":"price per share for multiple cash-market sales and equity swap long-position reductions"},{"amount":"11.7497 GBP","context":"price per share for the sale of 40,058 ordinary shares"},{"amount":"11.7547 GBP","context":"price per reference share for equity swap long-position increase of 14,292 shares"}]},"model_name":"glm-5.3-flash","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-11T09:43:37.587Z","global_importance":10,"audience_relevance":12,"importance_components":{"tickerTier":"mid-cap (FTSE 250, LSE-listed)","eventGravity":"routine-takeover-code-position-disclosure","issuerAuthored":false,"offerPeriodContext":true,"householdBrandBoost":0}},"durationMs":47311,"modelName":"glm-5.3-flash"}}