National Storage Mechanism | Additional information
RNS Number : 2265C
Citadel Group
06 October 2025
 

FORM 8.3

 

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

 

1.         KEY INFORMATION

 

(a) Full name of discloser:

Citadel Group

(b) Owner or controller of interests and short positions disclosed, if different from 1(a):

     The naming of nominee or vehicle companies is insufficient.  For a trust, the trustee(s), settlor and beneficiaries must be named.

N/A

(c) Name of offeror/offeree in relation to whose relevant securities this form relates:

     Use a separate form for each offeror/offeree

AMERICAN AXLE & MANUFACTURING HOLDINGS INC

(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:

N/A

(e) Date position held/dealing undertaken:

     For an opening position disclosure, state the latest practicable date prior to the disclosure

3 October 2025

(f)  In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?

     If it is a cash offer or possible cash offer, state "N/A"

YES

DOWLAIS GROUP PLC

 

2.         POSITIONS OF THE PERSON MAKING THE DISCLOSURE

 

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

 

(a)        Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

 

Class of relevant security:

Common Stock

ISIN US0240611030

USD 0.01 common

 

 

Interests

Short positions

 

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

1,093,682

0.92

5,825

0.00

(2) Cash-settled derivatives:

 

0

0.00

0

0.00

(3) Stock-settled derivatives (including options) and agreements to purchase/sell:

428,300

0.36

1,041,100

0.87

 

     TOTAL:

1,521,982

1.28

1,046,925

0.88

 

All interests and all short positions should be disclosed.

 

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

 

(b)        Rights to subscribe for new securities (including directors' and other employee options)

 

Class of relevant security in relation to which subscription right exists:

N/A

Details, including nature of the rights concerned and relevant percentages:

N/A

 

 

3.         DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

 

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

 

The currency of all prices and other monetary amounts should be stated.

 

(a)        Purchases and sales

 

Class of relevant security

Purchase/sale

 

Number of securities

Price per unit

Common

Buy Transaction

1

6.0400 USD

Common

Buy Transaction

9

6.0489 USD

Common

Buy Transaction

185

6.0626 USD

Common

Buy Transaction

883

6.0700 USD

Common

Buy Transaction

414

6.0800 USD

Common

Buy Transaction

1,182

6.0955 USD

Common

Buy Transaction

8,822

6.1000 USD

Common

Buy Transaction

730

6.1050 USD

Common

Buy Transaction

894

6.1099 USD

Common

Buy Transaction

250

6.1100 USD

Common

Buy Transaction

300

6.1100 USD

Common

Buy Transaction

1,802

6.1137 USD

Common

Buy Transaction

121

6.1145 USD

Common

Buy Transaction

7

6.1193 USD

Common

Buy Transaction

810

6.1200 USD

Common

Buy Transaction

100

6.1200 USD

Common

Buy Transaction

2,655

6.1257 USD

Common

Buy Transaction

16,613

6.1286 USD

Common

Buy Transaction

160

6.1305 USD

Common

Buy Transaction

225

6.1316 USD

Common

Buy Transaction

20

6.1365 USD

Common

Buy Transaction

307

6.1367 USD

Common

Buy Transaction

1,359

6.1369 USD

Common

Buy Transaction

1,000

6.1400 USD

Common

Buy Transaction

910

6.1410 USD

Common

Buy Transaction

1,300

6.1432 USD

Common

Buy Transaction

20

6.1450 USD

Common

Buy Transaction

353

6.1462 USD

Common

Buy Transaction

739

6.1477 USD

Common

Buy Transaction

1,187

6.1486 USD

Common

Buy Transaction

1,359

6.1512 USD

Common

Buy Transaction

1,532

6.1517 USD

Common

Buy Transaction

111

6.1595 USD

Common

Buy Transaction

1

6.1600 USD

Common

Buy Transaction

2,032

6.1602 USD

Common

Buy Transaction

4,345

6.1606 USD

Common

Buy Transaction

912

6.1616 USD

Common

Buy Transaction

400

6.1650 USD

Common

Buy Transaction

2,454

6.1669 USD

Common

Buy Transaction

1,195

6.1696 USD

Common

Buy Transaction

444

6.1700 USD

Common

Buy Transaction

1,300

6.1710 USD

Common

Buy Transaction

4,268

6.1750 USD

Common

Buy Transaction

303

6.1800 USD

Common

Buy Transaction

1,549

6.1826 USD

Common

Buy Transaction

515

6.1845 USD

Common

Buy Transaction

426

6.1858 USD

Common

Buy Transaction

7

6.1864 USD

Common

Buy Transaction

3,400

6.1871 USD

Common

Buy Transaction

2

6.1900 USD

Common

Buy Transaction

9

6.1922 USD

Common

Buy Transaction

95

6.1929 USD

Common

Buy Transaction

437

6.1932 USD

Common

Buy Transaction

8

6.1950 USD

Common

Buy Transaction

680

6.2014 USD

Common

Buy Transaction

8,717

6.2018 USD

Common

Buy Transaction

2,042

6.2079 USD

Common

Buy Transaction

478

6.2109 USD

Common

Buy Transaction

16,211

6.2154 USD

Common

Buy Transaction

260

6.2198 USD

Common

Buy Transaction

51,245

6.2200 USD

Common

Buy Transaction

1,840

6.2203 USD

Common

Buy Transaction

1,521

6.2238 USD

Common

Buy Transaction

94

6.2250 USD

Common

Buy Transaction

868

6.2289 USD

Common

Buy Transaction

1,633

6.2318 USD

Common

Buy Transaction

1

6.2350 USD

Common

Buy Transaction

358

6.2358 USD

Common

Buy Transaction

450

6.2389 USD

Common

Buy Transaction

754

6.2400 USD

Common

Buy Transaction

19,432

6.2411 USD

Common

Buy Transaction

1,063

6.2418 USD

Common

Buy Transaction

317

6.2427 USD

Common

Buy Transaction

1,600

6.2450 USD

Common

Buy Transaction

2,580

6.2500 USD

Common

Buy Transaction

287

6.2521 USD

Common

Buy Transaction

5,000

6.2550 USD

Common

Buy Transaction

25

6.2700 USD

Common

Sell Transaction

348

6.0450 USD

Common

Sell Transaction

22

6.0500 USD

Common

Sell Transaction

200

6.0543 USD

Common

Sell Transaction

300

6.0700 USD

Common

Sell Transaction

391

6.0726 USD

Common

Sell Transaction

200

6.0750 USD

Common

Sell Transaction

190

6.0753 USD

Common

Sell Transaction

2,614

6.0800 USD

Common

Sell Transaction

200

6.0850 USD

Common

Sell Transaction

100

6.0938 USD

Common

Sell Transaction

2,111

6.0966 USD

Common

Sell Transaction

1,200

6.0975 USD

Common

Sell Transaction

1,398

6.1000 USD

Common

Sell Transaction

602

6.1100 USD

Common

Sell Transaction

14,700

6.1200 USD

Common

Sell Transaction

1,936

6.1300 USD

Common

Sell Transaction

6,600

6.1350 USD

Common

Sell Transaction

608

6.1400 USD

Common

Sell Transaction

677

6.1500 USD

Common

Sell Transaction

3,515

6.1504 USD

Common

Sell Transaction

899

6.1600 USD

Common

Sell Transaction

637

6.1601 USD

Common

Sell Transaction

800

6.1610 USD

Common

Sell Transaction

437

6.1623 USD

Common

Sell Transaction

4,500

6.1650 USD

Common

Sell Transaction

100

6.1700 USD

Common

Sell Transaction

1,571

6.1726 USD

Common

Sell Transaction

584

6.1758 USD

Common

Sell Transaction

1,400

6.1771 USD

Common

Sell Transaction

5

6.1780 USD

Common

Sell Transaction

52

6.1792 USD

Common

Sell Transaction

700

6.1800 USD

Common

Sell Transaction

145

6.1808 USD

Common

Sell Transaction

28

6.1816 USD

Common

Sell Transaction

2,000

6.1831 USD

Common

Sell Transaction

4,700

6.1850 USD

Common

Sell Transaction

298

6.1877 USD

Common

Sell Transaction

348

6.1885 USD

Common

Sell Transaction

109

6.1888 USD

Common

Sell Transaction

275

6.1895 USD

Common

Sell Transaction

1

6.1900 USD

Common

Sell Transaction

685

6.1913 USD

Common

Sell Transaction

109

6.1917 USD

Common

Sell Transaction

708

6.1918 USD

Common

Sell Transaction

500

6.1950 USD

Common

Sell Transaction

2,300

6.1957 USD

Common

Sell Transaction

4,464

6.2000 USD

Common

Sell Transaction

9,213

6.2005 USD

Common

Sell Transaction

300

6.2010 USD

Common

Sell Transaction

1,873

6.2019 USD

Common

Sell Transaction

132

6.2024 USD

Common

Sell Transaction

123

6.2026 USD

Common

Sell Transaction

1,179

6.2030 USD

Common

Sell Transaction

2,346

6.2047 USD

Common

Sell Transaction

942

6.2054 USD

Common

Sell Transaction

588

6.2066 USD

Common

Sell Transaction

357

6.2072 USD

Common

Sell Transaction

510

6.2073 USD

Common

Sell Transaction

1,245

6.2079 USD

Common

Sell Transaction

373

6.2080 USD

Common

Sell Transaction

2,704

6.2081 USD

Common

Sell Transaction

2,500

6.2108 USD

Common

Sell Transaction

8,430

6.2111 USD

Common

Sell Transaction

259

6.2146 USD

Common

Sell Transaction

429

6.2150 USD

Common

Sell Transaction

214

6.2151 USD

Common

Sell Transaction

1,722

6.2155 USD

Common

Sell Transaction

448

6.2165 USD

Common

Sell Transaction

57,251

6.2200 USD

Common

Sell Transaction

55,481

6.2206 USD

Common

Sell Transaction

218

6.2208 USD

Common

Sell Transaction

232

6.2216 USD

Common

Sell Transaction

271

6.2226 USD

Common

Sell Transaction

12,921

6.2233 USD

Common

Sell Transaction

20,650

6.2252 USD

Common

Sell Transaction

192

6.2287 USD

Common

Sell Transaction

596

6.2300 USD

Common

Sell Transaction

61

6.2305 USD

Common

Sell Transaction

110

6.2309 USD

Common

Sell Transaction

1,367

6.2311 USD

Common

Sell Transaction

463

6.2314 USD

Common

Sell Transaction

173

6.2321 USD

Common

Sell Transaction

300

6.2333 USD

Common

Sell Transaction

65

6.2345 USD

Common

Sell Transaction

1,282

6.2350 USD

Common

Sell Transaction

17,645

6.2357 USD

Common

Sell Transaction

4,700

6.2389 USD

Common

Sell Transaction

487

6.2391 USD

Common

Sell Transaction

1,795

6.2400 USD

Common

Sell Transaction

1,500

6.2417 USD

Common

Sell Transaction

200

6.2421 USD

Common

Sell Transaction

4,269

6.2466 USD

Common

Sell Transaction

588

6.2481 USD

Common

Sell Transaction

1,495

6.2500 USD

Common

Sell Transaction

180

6.2501 USD

Common

Sell Transaction

400

6.2525 USD

Common

Sell Transaction

1,850

6.2600 USD

Common

Sell Transaction

2,350

6.2627 USD

Common

Sell Transaction

418

6.2650 USD

Common

Sell Transaction

1,161

6.2650 USD

Common

Sell Transaction

281

6.2650 USD

Common

Sell Transaction

64

6.2661 USD

Common

Sell Transaction

181

6.2672 USD

Common

Sell Transaction

592

6.2694 USD

Common

Sell Transaction

25

6.2700 USD

 

(b)        Cash-settled derivative transactions

 

Class of relevant security

Product description

e.g. CFD

Nature of dealing

e.g. opening/closing a long/short position, increasing/reducing a long/short position

Number of reference securities

Price per unit

 

(c)        Stock-settled derivative transactions (including options)

 

(i)         Writing, selling, purchasing or varying

 

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type

e.g. American, European etc.

Expiry date

Option money paid/ received per unit

Common

Put Option

Buy Transaction

100

5.0000 USD

American

2026-04-17

0.4200 USD

Common

Put Option

Buy Transaction

100

5.0000 USD

American

2026-07-17

0.4500 USD

Common

Put Option

Buy Transaction

100

7.0000 USD

American

2025-10-17

0.9000 USD

Common

Call Option

Sell Transaction

100

9.0000 USD

American

2026-04-17

0.2500 USD

Common

Call Option

Sell Transaction

100

10.0000 USD

American

2026-07-17

0.2700 USD

Common

Put Option

Sell Transaction

100

5.0000 USD

American

2026-04-17

0.3100 USD

 

(ii)        Exercise

 

Class of relevant security

Product description

e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

 

(d)        Other dealings (including subscribing for new securities)

 

Class of relevant security

Nature of dealing

e.g. subscription, conversion

Details

Price per unit (if applicable)

 

 

 

 

 

 

 

4.         OTHER INFORMATION

 

(a)        Indemnity and other dealing arrangements

 

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:

Irrevocable commitments and letters of intent should not be included.  If there are no such agreements, arrangements or understandings, state "none"

 

None

 

 

(b)        Agreements, arrangements or understandings relating to options or derivatives

 

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:

(i)  the voting rights of any relevant securities under any option; or

(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

If there are no such agreements, arrangements or understandings, state "none"

 

None

 

 

(c)        Attachments

 

Is a Supplemental Form 8 (Open Positions) attached?

YES

 

 

Date of disclosure:

6 October 2025

Contact name:

Paula Santos

Telephone number*:

020 7645 9700

 

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

 

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.

 

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.

 

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk .

 

 

 


 

 

 

 

SUPPLEMENTAL FORM 8 (OPEN POSITIONS)

 

DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS, AGREEMENTS TO PURCHASE OR SELL ETC.

Note 5(i) on Rule 8 of the Takeover Code (the "Code")

 

 

1.         KEY INFORMATION

 

Full name of person making disclosure:

Citadel Group

Name of offeror/offeree in relation to whose relevant securities the disclosure relates:

AMERICAN AXLE & MANUFACTURING HOLDINGS INC

 

2.         STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)

 

Class of relevant security

Product description e.g. call option

Written or purchased

Number of securities to which option or derivative relates

Exercise price per unit

Type

e.g. American, European etc.

Expiry date

Common

Put Option

Purchased

-2,800

5.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Purchased

3,100

10.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Purchased

-500

3.0 USD

 

American

 

18/12/2026

 

Common

Put Option

Purchased

-17,200

3.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Purchased

-10,300

5.0 USD

 

American

 

17/04/2026

 

Common

Call Option

Purchased

49,800

6.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Purchased

2,600

5.0 USD

 

American

 

17/04/2026

 

Common

Call Option

Purchased

200

8.0 USD

 

American

 

21/11/2025

 

Common

Call Option

Purchased

200

11.0 USD

 

American

 

17/04/2026

 

Common

Call Option

Purchased

14,900

6.0 USD

 

American

 

17/04/2026

 

Common

Put Option

Purchased

-900

3.0 USD

 

American

 

17/04/2026

 

Common

Put Option

Purchased

-2,200

7.0 USD

 

American

 

17/07/2026

 

Common

Put Option

Purchased

-800

7.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Purchased

10,800

6.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Purchased

38,100

10.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Purchased

1,000

8.0 USD

 

American

 

17/10/2025

 

Common

Put Option

Purchased

-8,200

6.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Purchased

15,700

4.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Purchased

176,700

5.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Purchased

300

3.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Purchased

2,700

7.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Purchased

800

3.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Purchased

300

2.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Purchased

9,500

7.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Purchased

6,000

7.0 USD

 

American

 

18/12/2026

 

Common

Put Option

Purchased

-217,400

4.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Purchased

-200

7.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-12,500

15.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-900

4.0 USD

 

American

 

17/07/2026

 

Common

Put Option

Sold

200

6.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Sold

-200

10.0 USD

 

American

 

17/04/2026

 

Common

Call Option

Sold

-400

5.0 USD

 

American

 

18/12/2026

 

Common

Call Option

Sold

-300

8.0 USD

 

American

 

17/04/2026

 

Common

Put Option

Sold

91,600

5.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-200

8.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-1,400

4.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-1,400

3.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-6,200

12.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-508,400

7.0 USD

 

American

 

17/04/2026

 

Common

Call Option

Sold

-52,500

5.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-39,400

5.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Sold

-100

1.0 USD

 

American

 

17/07/2026

 

Common

Put Option

Sold

700

4.0 USD

 

American

 

17/04/2026

 

Common

Put Option

Sold

1,700

5.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Sold

-300

9.0 USD

 

American

 

17/04/2026

 

Common

Put Option

Sold

100

5.0 USD

 

American

 

18/12/2026

 

Common

Put Option

Sold

600

6.0 USD

 

American

 

21/11/2025

 

Common

Put Option

Sold

100

4.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Sold

-1,600

7.0 USD

 

American

 

21/11/2025

 

Common

Put Option

Sold

600

3.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Sold

-154,000

7.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-800

6.0 USD

 

American

 

21/11/2025

 

 

3.         AGREEMENTS TO PURCHASE OR SELL ETC.

 

Full details should be given so that the nature of the interest or position can be fully understood:

 

 

 

 

 

 

It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.

 

The currency of all prices and other monetary amounts should be stated.

 

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.

 

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk .

 

 

 

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