A Gamma Communications disclosure shows Man Group held interests equivalent to 1.36% of the company's ordinary shares as of October 26, 2026, after reducing a long position through an equity swap.
Key Takeaways
- Man Group's disclosed interest covered 1,218,725 shares and reference securities.
- The position included both shares owned or controlled and cash-settled derivatives.
- The equity swap reduction covered 14,832 reference securities at £10.9059 per unit.
Gamma Communications disclosure breaks down the position
The Form 8.3 filing, dated October 27, reported that Man Group owned or controlled 761,936 Gamma Communications shares, representing 0.85%. It also disclosed cash-settled derivatives referencing 456,789 securities, or 0.51%.
The combined 1.36% figure therefore includes derivative exposure as well as shares owned or controlled. The filing concerned Gamma's 0.25p ordinary shares.
Equity swap position reduced
Man Group reported reducing a long equity swap position by 14,832 reference securities at a price of £10.9059 per unit. The filing listed October 26 as the date of the position and dealing.
The disclosure was made under Rule 8.3 of the Takeover Code, which applies to persons with interests in relevant securities representing 1% or more. It did not identify another party to the offer in respect of which Man Group was making a disclosure.
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