Man Group reports Rule 8.3 stakes in Gamma Communications and JTC

Takeover Code disclosures dated August 3 showed Man Group positions as of July 31 in Gamma Communications and JTC, including cash-settled derivatives and small reported dealings.

Summary

Man Group PLC filed separate Rule 8.3 public opening position and dealing disclosures under the UK Takeover Code for Gamma Communications plc and JTC Plc, each dated 03/08/2026 and referring to positions held or dealings undertaken on 31/07/2026. For Gamma Communications, Man Group reported interests in 1,707,225 0.25p ordinary-share securities, equal to 1.90%, comprising 177,750 shares, or 0.19%, owned and/or controlled and 1,529,475 cash-settled derivatives, or 1.71%. The Gamma filing also recorded the sale of 1,800 ordinary shares at GBP 9.3600 and several swap transactions that both increased and reduced a long position. For JTC, Man Group reported a 2.70% interest entirely through 4,731,519 cash-settled derivative-linked 1p ordinary shares, with no separately disclosed owned or controlled shares, stock-settled derivatives or short positions, and one equity swap increasing a long position by 1,894 reference securities at GBP 13.2703. In both filings, Man Group said it was not making disclosures in respect of any other party to the offer and disclosed no indemnity, option, voting-rights or derivative-linked future acquisition or disposal arrangements.

Terms & Concepts
  • Rule 8.3 disclosure: A UK Takeover Code disclosure required when a person is interested in 1% or more of relevant securities of an offeree or securities exchange offeror during an offer period.
  • Cash-settled derivatives: Derivative positions that are settled in cash rather than by delivery of the underlying shares, but still count toward disclosure thresholds under takeover rules.
  • Equity swap: A derivative contract used to gain or adjust economic exposure to shares without directly buying or selling the underlying stock.