28 March 2017

Gamma Communications plc

Exercise of Options and Director/PDMR Shareholding

The Company confirms that, following the receipt of notices of exercise of options from employees and two Directors, it has approved the issue of 272,992 Ordinary Shares (the "New Ordinary Shares").

 Application has been made for the New Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 3 April 2017.

Following the issue of the New Ordinary Shares, the number of Ordinary Shares in issue will increase to 92,024,491. For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of the Company following this allotment consists of 92,024,491 Ordinary Shares with voting rights attached. There are no Shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, Gamma Communications plc under the DTRs.

Pursuant to the above exercise of options, and in part to pay the option holders' tax due on the exercise, the following option holders sold Ordinary Shares on 28 March 2017 at 475p in the quantities shown below:

Directors

·    Richard Bligh (Director of Business Development for the Company) exercised options over 67,388 Ordinary Shares in the Company for nil consideration and sold 67,388 shares representing 0.05 per cent of the Company's issued share capital. His aggregate resultant shareholding in the Company is 362,222 Ordinary shares, representing 0.4 per cent of the issued share capital of the Company.

·    Andrew Belshaw CFO of the Company exercised options over 35,882 Ordinary shares in the Company for nil consideration and sold 35,882 Ordinary Shares representing 0.04 per cent of the Company's issued share capital. His aggregate resultant shareholding in the Company is 277,654 Ordinary shares, representing 0.3 per cent of the issued share capital of the Company.

Other persons discharging management responsibility

·    Andrew Morris exercised options over 69,418 Ordinary Shares in the Company for nil consideration and sold   69,418 Ordinary Shares

·    Malcolm Goddard exercised options over 41,134 Ordinary Shares in the Company for nil consideration and sold 41,134 Ordinary Shares

·    Paul Peel exercised options over 45,160 Ordinary Shares in the Company for nil consideration and sold 45,160 Ordinary Shares

·    Alan Mackie exercised options over 14,010 Ordinary Shares in the Company for nil consideration and sold 14,010 Ordinary Shares

Additionally the Company has been informed that:

·    Andrew Stone, a Non-Executive Director of the Company, sold 86,000 Ordinary Shares in the Company on 28 March 2017 at 475p per share. The sales represent 0.09 per cent of the issued share capital of the Company. He has a resultant holding of 1,200,500 shares representing 1.4 per cent of the Company's issued share capital.

·    Richard Bligh, Director of Business Development of the Company sold a total of 50,000 Ordinary shares at 475p on 24 March 2017, representing 0.05 per cent of the Company's issued share capital. His aggregate resultant shareholding in the Company was 362,222 Ordinary shares, representing 0.4 per cent of the issued share capital of the Company.

·    Daryl Pile who is a person regarded by the Company as discharging management responsibility sold 65,000 shares in the Company on 24 March 2017 at 4.75p per share.

·    Malcolm Goddard who is a person regarded by the Company as discharging management responsibility sold 3,285 shares in the Company on 28 March 2017 at 475p per share.

·    Jenny Goddard, (a PCA of Malcolm Goddard who is a person regarded by the Company as discharging management responsibility), sold 2,600 shares in the Company on 28 March 2017 at 475p per share.

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