Man Group discloses 1.98% interest in Gamma Communications plc under U.K. takeover rules

Rule 8.3 filings dated July 22, 2026 show Man Group disclosed positions in both Gamma Communications and JTC, with Gamma including share sales and swap activity and JTC comprising only cash-settled equity swaps.

Summary

Man Group PLC filed separate Rule 8.3 disclosures under the U.K. Takeover Code on July 22, 2026 for positions held on July 21 in Gamma Communications plc and JTC Plc. In Gamma Communications, Man Group reported total interests of 1,778,008 ordinary shares, or 1.98%, comprising 223,098 shares, or 0.24%, owned and/or controlled and 1,554,910 shares, or 1.73%, through cash-settled derivatives, with no short positions reported. The Gamma filing also disclosed two sales of ordinary shares and eight swap transactions that both increased and reduced a long position. In JTC, Man Group reported a 2.59% position entirely through cash-settled derivatives over 4,523,597 1p ordinary shares, with no owned or controlled shares, no short positions, and four equity swap transactions that all increased a long position. Both filings said Man Group was not making disclosures for any other party to the offer, reported no indemnity or dealing arrangements or voting-rights agreements, and said no Supplemental Form 8 was attached.

Terms & Concepts
  • Rule 8.3: A U.K. Takeover Code disclosure requirement for persons with interests of 1% or more in relevant securities during an offer period.
  • cash-settled derivatives: Financial contracts that provide economic exposure to a security while gains or losses are settled in cash rather than by delivering shares.
  • equity swap: A derivative used to gain or adjust economic exposure to a stock, with returns linked to the underlying shares.