Response to speculation

The Board of Gamma ("Gamma" or the "Company") notes the recent press speculation and confirms that it is in preliminary discussions with a number of interested counterparties (the "Potential Offerors") with a view to establishing whether such Potential Offerors might be willing to put forward a proposal that would deliver greater value to shareholders than pursuing a standalone independent strategy.

Discussions with the Potential Offerors are at an early stage and as such, there can be no certainty that an offer will be made for the Company, nor as to the terms on which any such offer might be made.

The Executive of the Panel on Takeovers and Mergers has granted a dispensation from the requirements of Rules 2.4(a) and 2.4(b) of the Code, such that the Company is not required to identify in this announcement any of the Potential Offerors with which the Company is in talks, or from which an approach has been received, unless that potential offeror has been specifically identified in any rumour or speculation.

As a consequence of this announcement, an "offer period" has now commenced in respect of the Company in accordance with the Code and the attention of shareholders is drawn to the disclosure requirements of Rule 8 of the Code, which are summarised below.

A further announcement will be made if and when appropriate.

Rule 2.9 information