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 | 7 April 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: | 929,393 | 0.78 | 207,825 | 0.17 |
| (2) Cash-settled derivatives:
| 105,966 | 0.08 | 0 | 0.00 |
| (3) Stock-settled derivatives (including options) and agreements to purchase/sell: | 2,135,000 | 1.80 | 591,600 | 0.49 |
|
TOTAL: | 3,170,359 | 2.67 | 799,425 | 0.67 |
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 | 3.0700 USD |
| Common | Buy Transaction | 900 | 3.0750 USD |
| Common | Buy Transaction | 25 | 3.0752 USD |
| Common | Buy Transaction | 493 | 3.0800 USD |
| Common | Buy Transaction | 3,665 | 3.0838 USD |
| Common | Buy Transaction | 1,264 | 3.0900 USD |
| Common | Buy Transaction | 533 | 3.0941 USD |
| Common | Buy Transaction | 2,171 | 3.0952 USD |
| Common | Buy Transaction | 701 | 3.0975 USD |
| Common | Buy Transaction | 421 | 3.1000 USD |
| Common | Buy Transaction | 5 | 3.1060 USD |
| Common | Buy Transaction | 95 | 3.1100 USD |
| Common | Buy Transaction | 1,025 | 3.1106 USD |
| Common | Buy Transaction | 280 | 3.1155 USD |
| Common | Buy Transaction | 900 | 3.1189 USD |
| Common | Buy Transaction | 4,769 | 3.1199 USD |
| Common | Buy Transaction | 400 | 3.1200 USD |
| Common | Buy Transaction | 247 | 3.1217 USD |
| Common | Buy Transaction | 1,114 | 3.1226 USD |
| Common | Buy Transaction | 4,211 | 3.1243 USD |
| Common | Buy Transaction | 1,359 | 3.1245 USD |
| Common | Buy Transaction | 200 | 3.1250 USD |
| Common | Buy Transaction | 38 | 3.1289 USD |
| Common | Buy Transaction | 500 | 3.1290 USD |
| Common | Buy Transaction | 9,215 | 3.1292 USD |
| Common | Buy Transaction | 1,432 | 3.1307 USD |
| Common | Buy Transaction | 200 | 3.1310 USD |
| Common | Buy Transaction | 1,200 | 3.1312 USD |
| Common | Buy Transaction | 4,192 | 3.1315 USD |
| Common | Buy Transaction | 311 | 3.1321 USD |
| Common | Buy Transaction | 235 | 3.1333 USD |
| Common | Buy Transaction | 300 | 3.1350 USD |
| Common | Buy Transaction | 2,387 | 3.1356 USD |
| Common | Buy Transaction | 100 | 3.1362 USD |
| Common | Buy Transaction | 500 | 3.1380 USD |
| Common | Buy Transaction | 2,906 | 3.1388 USD |
| Common | Buy Transaction | 370 | 3.1395 USD |
| Common | Buy Transaction | 3,065 | 3.1400 USD |
| Common | Buy Transaction | 1,433 | 3.1409 USD |
| Common | Buy Transaction | 71 | 3.1410 USD |
| Common | Buy Transaction | 30 | 3.1417 USD |
| Common | Buy Transaction | 1,997 | 3.1424 USD |
| Common | Buy Transaction | 1,716 | 3.1433 USD |
| Common | Buy Transaction | 547 | 3.1434 USD |
| Common | Buy Transaction | 2,332 | 3.1441 USD |
| Common | Buy Transaction | 100 | 3.1450 USD |
| Common | Buy Transaction | 207 | 3.1452 USD |
| Common | Buy Transaction | 745 | 3.1453 USD |
| Common | Buy Transaction | 686 | 3.1454 USD |
| Common | Buy Transaction | 2,559 | 3.1460 USD |
| Common | Buy Transaction | 1,800 | 3.1460 USD |
| Common | Buy Transaction | 3,400 | 3.1465 USD |
| Common | Buy Transaction | 2,574 | 3.1479 USD |
| Common | Buy Transaction | 371 | 3.1485 USD |
| Common | Buy Transaction | 12,618 | 3.1493 USD |
| Common | Buy Transaction | 120 | 3.1496 USD |
| Common | Buy Transaction | 1,100 | 3.1500 USD |
| Common | Buy Transaction | 22 | 3.1509 USD |
| Common | Buy Transaction | 515 | 3.1522 USD |
| Common | Buy Transaction | 43,656 | 3.1524 USD |
| Common | Buy Transaction | 184 | 3.1529 USD |
| Common | Buy Transaction | 303 | 3.1536 USD |
| Common | Buy Transaction | 1,816 | 3.1536 USD |
| Common | Buy Transaction | 210 | 3.1550 USD |
| Common | Buy Transaction | 100 | 3.1551 USD |
| Common | Buy Transaction | 17 | 3.1553 USD |
| Common | Buy Transaction | 34,574 | 3.1554 USD |
| Common | Buy Transaction | 800 | 3.1575 USD |
| Common | Buy Transaction | 5,860 | 3.1579 USD |
| Common | Buy Transaction | 1,788 | 3.1588 USD |
| Common | Buy Transaction | 1,300 | 3.1592 USD |
| Common | Buy Transaction | 2,011 | 3.1594 USD |
| Common | Buy Transaction | 1,798 | 3.1597 USD |
| Common | Buy Transaction | 1,019 | 3.1600 USD |
| Common | Buy Transaction | 400 | 3.1601 USD |
| Common | Buy Transaction | 6,470 | 3.1601 USD |
| Common | Buy Transaction | 582 | 3.1602 USD |
| Common | Buy Transaction | 668 | 3.1610 USD |
| Common | Buy Transaction | 7,820 | 3.1615 USD |
| Common | Buy Transaction | 4,194 | 3.1636 USD |
| Common | Buy Transaction | 631 | 3.1642 USD |
| Common | Buy Transaction | 575 | 3.1644 USD |
| Common | Buy Transaction | 4,576 | 3.1645 USD |
| Common | Buy Transaction | 2,871 | 3.1659 USD |
| Common | Buy Transaction | 1,100 | 3.1664 USD |
| Common | Buy Transaction | 14,900 | 3.1673 USD |
| Common | Buy Transaction | 94 | 3.1690 USD |
| Common | Buy Transaction | 100 | 3.1700 USD |
| Common | Buy Transaction | 616 | 3.1716 USD |
| Common | Buy Transaction | 668 | 3.1716 USD |
| Common | Buy Transaction | 92 | 3.1717 USD |
| Common | Buy Transaction | 244 | 3.1725 USD |
| Common | Buy Transaction | 100 | 3.1730 USD |
| Common | Buy Transaction | 1,217 | 3.1730 USD |
| Common | Buy Transaction | 8,587 | 3.1744 USD |
| Common | Buy Transaction | 130 | 3.1750 USD |
| Common | Buy Transaction | 1,160 | 3.1790 USD |
| Common | Buy Transaction | 100 | 3.1800 USD |
| Common | Buy Transaction | 695 | 3.1801 USD |
| Common | Buy Transaction | 833 | 3.1808 USD |
| Common | Buy Transaction | 20 | 3.1825 USD |
| Common | Buy Transaction | 959 | 3.1850 USD |
| Common | Buy Transaction | 44 | 3.1852 USD |
| Common | Buy Transaction | 32,715 | 3.1900 USD |
| Common | Buy Transaction | 2,000 | 3.1902 USD |
| Common | Buy Transaction | 560 | 3.1918 USD |
| Common | Buy Transaction | 1,162 | 3.1930 USD |
| Common | Buy Transaction | 820 | 3.1948 USD |
| Common | Buy Transaction | 1,473 | 3.1960 USD |
| Common | Buy Transaction | 1,601 | 3.1961 USD |
| Common | Buy Transaction | 120 | 3.1990 USD |
| Common | Buy Transaction | 36,578 | 3.2000 USD |
| Common | Buy Transaction | 168 | 3.2015 USD |
| Common | Buy Transaction | 2,691 | 3.2015 USD |
| Common | Buy Transaction | 100 | 3.2026 USD |
| Common | Buy Transaction | 595 | 3.2050 USD |
| Common | Buy Transaction | 1,794 | 3.2061 USD |
| Common | Buy Transaction | 2,162 | 3.2062 USD |
| Common | Buy Transaction | 1 | 3.2100 USD |
| Common | Buy Transaction | 834 | 3.2109 USD |
| Common | Buy Transaction | 1,030 | 3.2110 USD |
| Common | Buy Transaction | 905 | 3.2111 USD |
| Common | Buy Transaction | 8,476 | 3.2126 USD |
| Common | Buy Transaction | 914 | 3.2127 USD |
| Common | Buy Transaction | 3,698 | 3.2127 USD |
| Common | Buy Transaction | 935 | 3.2132 USD |
| Common | Buy Transaction | 596 | 3.2134 USD |
| Common | Buy Transaction | 1,015 | 3.2136 USD |
| Common | Buy Transaction | 3,775 | 3.2148 USD |
| Common | Buy Transaction | 109 | 3.2150 USD |
| Common | Buy Transaction | 166 | 3.2180 USD |
| Common | Buy Transaction | 23 | 3.2183 USD |
| Common | Buy Transaction | 152 | 3.2187 USD |
| Common | Buy Transaction | 200 | 3.2200 USD |
| Common | Buy Transaction | 9,256 | 3.2232 USD |
| Common | Buy Transaction | 1,600 | 3.2232 USD |
| Common | Buy Transaction | 3,996 | 3.2242 USD |
| Common | Buy Transaction | 140 | 3.2300 USD |
| Common | Buy Transaction | 1,572 | 3.2312 USD |
| Common | Buy Transaction | 246 | 3.2323 USD |
| Common | Buy Transaction | 241 | 3.2329 USD |
| Common | Buy Transaction | 600 | 3.2350 USD |
| Common | Buy Transaction | 2,113 | 3.2350 USD |
| Common | Buy Transaction | 450 | 3.2434 USD |
| Common | Buy Transaction | 200 | 3.2450 USD |
| Common | Buy Transaction | 3,800 | 3.2501 USD |
| Common | Buy Transaction | 372 | 3.2544 USD |
| Common | Buy Transaction | 3,156 | 3.2621 USD |
| Common | Buy Transaction | 1,000 | 3.2705 USD |
| Common | Buy Transaction | 486 | 3.2727 USD |
| Common | Buy Transaction | 2,509 | 3.2751 USD |
| Common | Buy Transaction | 100 | 3.2900 USD |
| Common | Buy Transaction | 519 | 3.3000 USD |
| Common | Buy Transaction | 563 | 3.3177 USD |
| Common | Buy Transaction | 212 | 3.3192 USD |
| Common | Buy Transaction | 100 | 3.3200 USD |
| Common | Buy Transaction | 15 | 3.3600 USD |
| Common | DVP Transaction | 1 | 3.1100 USD |
| Common | DVP Transaction | 2 | 3.1200 USD |
| Common | DVP Transaction | 162 | 3.1319 USD |
| Common | DVP Transaction | 77 | 3.1400 USD |
| Common | DVP Transaction | 40 | 3.1450 USD |
| Common | DVP Transaction | 167 | 3.1503 USD |
| Common | DVP Transaction | 356 | 3.1537 USD |
| Common | DVP Transaction | 1 | 3.1600 USD |
| Common | DVP Transaction | 230 | 3.1669 USD |
| Common | DVP Transaction | 18 | 3.1789 USD |
| Common | DVP Transaction | 4 | 3.1800 USD |
| Common | DVP Transaction | 475 | 3.1900 USD |
| Common | DVP Transaction | 3,854 | 3.1903 USD |
| Common | DVP Transaction | 35,447 | 3.2000 USD |
| Common | DVP Transaction | 10,296 | 3.2050 USD |
| Common | DVP Transaction | 37 | 3.2051 USD |
| Common | DVP Transaction | 35 | 3.2051 USD |
| Common | DVP Transaction | 58 | 3.2052 USD |
| Common | DVP Transaction | 19 | 3.2053 USD |
| Common | DVP Transaction | 26 | 3.2054 USD |
| Common | DVP Transaction | 11 | 3.2055 USD |
| Common | DVP Transaction | 18 | 3.2056 USD |
| Common | DVP Transaction | 7 | 3.2057 USD |
| Common | DVP Transaction | 100 | 3.2400 USD |
| Common | DVP Transaction | 264 | 3.2878 USD |
| Common | DVP Transaction | 160 | 3.3600 USD |
| Common | DVP Transaction | 644 | 3.4750 USD |
| Common | RVP Transaction | 1 | 3.1000 USD |
| Common | RVP Transaction | 1 | 3.1100 USD |
| Common | RVP Transaction | 2 | 3.1400 USD |
| Common | RVP Transaction | 1,031 | 3.1513 USD |
| Common | RVP Transaction | 1 | 3.1600 USD |
| Common | RVP Transaction | 102 | 3.1896 USD |
| Common | RVP Transaction | 602 | 3.1900 USD |
| Common | RVP Transaction | 2,366 | 3.1900 USD |
| Common | RVP Transaction | 400 | 3.1925 USD |
| Common | RVP Transaction | 35,447 | 3.2000 USD |
| Common | RVP Transaction | 4,169 | 3.2039 USD |
| Common | RVP Transaction | 3,350 | 3.2041 USD |
| Common | RVP Transaction | 3,480 | 3.2050 USD |
| Common | RVP Transaction | 227 | 3.2232 USD |
| Common | RVP Transaction | 636 | 3.2560 USD |
| Common | RVP Transaction | 50 | 3.3600 USD |
| Common | RVP Transaction | 644 | 3.4750 USD |
| Common | Sell Transaction | 300 | 3.0750 USD |
| Common | Sell Transaction | 425 | 3.0762 USD |
| Common | Sell Transaction | 3,700 | 3.0800 USD |
| Common | Sell Transaction | 1 | 3.0850 USD |
| Common | Sell Transaction | 2,800 | 3.0900 USD |
| Common | Sell Transaction | 593 | 3.1047 USD |
| Common | Sell Transaction | 10 | 3.1050 USD |
| Common | Sell Transaction | 85 | 3.1100 USD |
| Common | Sell Transaction | 316 | 3.1114 USD |
| Common | Sell Transaction | 500 | 3.1145 USD |
| Common | Sell Transaction | 141 | 3.1149 USD |
| Common | Sell Transaction | 28,598 | 3.1194 USD |
| Common | Sell Transaction | 190 | 3.1200 USD |
| Common | Sell Transaction | 4,922 | 3.1216 USD |
| Common | Sell Transaction | 400 | 3.1225 USD |
| Common | Sell Transaction | 22 | 3.1295 USD |
| Common | Sell Transaction | 2,077 | 3.1296 USD |
| Common | Sell Transaction | 935 | 3.1326 USD |
| Common | Sell Transaction | 303 | 3.1337 USD |
| Common | Sell Transaction | 630 | 3.1395 USD |
| Common | Sell Transaction | 740 | 3.1395 USD |
| Common | Sell Transaction | 419 | 3.1395 USD |
| Common | Sell Transaction | 3,229 | 3.1452 USD |
| Common | Sell Transaction | 2,735 | 3.1461 USD |
| Common | Sell Transaction | 9,107 | 3.1463 USD |
| Common | Sell Transaction | 109 | 3.1472 USD |
| Common | Sell Transaction | 1,400 | 3.1479 USD |
| Common | Sell Transaction | 10,958 | 3.1487 USD |
| Common | Sell Transaction | 1,639 | 3.1500 USD |
| Common | Sell Transaction | 4,763 | 3.1507 USD |
| Common | Sell Transaction | 5 | 3.1520 USD |
| Common | Sell Transaction | 601 | 3.1533 USD |
| Common | Sell Transaction | 1,770 | 3.1550 USD |
| Common | Sell Transaction | 1,177 | 3.1551 USD |
| Common | Sell Transaction | 30 | 3.1557 USD |
| Common | Sell Transaction | 3,300 | 3.1582 USD |
| Common | Sell Transaction | 450 | 3.1600 USD |
| Common | Sell Transaction | 5,720 | 3.1611 USD |
| Common | Sell Transaction | 36 | 3.1628 USD |
| Common | Sell Transaction | 700 | 3.1643 USD |
| Common | Sell Transaction | 1,260 | 3.1648 USD |
| Common | Sell Transaction | 550 | 3.1650 USD |
| Common | Sell Transaction | 33 | 3.1652 USD |
| Common | Sell Transaction | 5,300 | 3.1666 USD |
| Common | Sell Transaction | 378 | 3.1667 USD |
| Common | Sell Transaction | 1,087 | 3.1679 USD |
| Common | Sell Transaction | 1,000 | 3.1680 USD |
| Common | Sell Transaction | 298 | 3.1687 USD |
| Common | Sell Transaction | 156 | 3.1688 USD |
| Common | Sell Transaction | 552 | 3.1697 USD |
| Common | Sell Transaction | 2,881 | 3.1700 USD |
| Common | Sell Transaction | 1,500 | 3.1707 USD |
| Common | Sell Transaction | 600 | 3.1717 USD |
| Common | Sell Transaction | 7,203 | 3.1718 USD |
| Common | Sell Transaction | 1,188 | 3.1718 USD |
| Common | Sell Transaction | 4,260 | 3.1728 USD |
| Common | Sell Transaction | 2,800 | 3.1736 USD |
| Common | Sell Transaction | 450 | 3.1744 USD |
| Common | Sell Transaction | 3 | 3.1745 USD |
| Common | Sell Transaction | 1,600 | 3.1750 USD |
| Common | Sell Transaction | 1,500 | 3.1781 USD |
| Common | Sell Transaction | 1,099 | 3.1781 USD |
| Common | Sell Transaction | 1,080 | 3.1781 USD |
| Common | Sell Transaction | 3 | 3.1783 USD |
| Common | Sell Transaction | 11,842 | 3.1800 USD |
| Common | Sell Transaction | 1,177 | 3.1817 USD |
| Common | Sell Transaction | 26,874 | 3.1822 USD |
| Common | Sell Transaction | 800 | 3.1825 USD |
| Common | Sell Transaction | 549 | 3.1832 USD |
| Common | Sell Transaction | 400 | 3.1850 USD |
| Common | Sell Transaction | 45 | 3.1851 USD |
| Common | Sell Transaction | 478 | 3.1885 USD |
| Common | Sell Transaction | 21 | 3.1895 USD |
| Common | Sell Transaction | 44,170 | 3.1900 USD |
| Common | Sell Transaction | 128 | 3.1909 USD |
| Common | Sell Transaction | 300 | 3.1910 USD |
| Common | Sell Transaction | 600 | 3.1993 USD |
| Common | Sell Transaction | 35,723 | 3.2000 USD |
| Common | Sell Transaction | 3,027 | 3.2011 USD |
| Common | Sell Transaction | 220 | 3.2061 USD |
| Common | Sell Transaction | 11,252 | 3.2085 USD |
| Common | Sell Transaction | 40 | 3.2092 USD |
| Common | Sell Transaction | 1 | 3.2100 USD |
| Common | Sell Transaction | 76 | 3.2147 USD |
| Common | Sell Transaction | 40 | 3.2200 USD |
| Common | Sell Transaction | 1,076 | 3.2314 USD |
| Common | Sell Transaction | 408 | 3.2352 USD |
| Common | Sell Transaction | 20 | 3.2400 USD |
| Common | Sell Transaction | 3,847 | 3.2500 USD |
| Common | Sell Transaction | 5,185 | 3.2515 USD |
| Common | Sell Transaction | 126 | 3.2529 USD |
| Common | Sell Transaction | 4,800 | 3.2549 USD |
| Common | Sell Transaction | 55 | 3.2598 USD |
| Common | Sell Transaction | 38 | 3.2700 USD |
| Common | Sell Transaction | 5,974 | 3.2922 USD |
| Common | Sell Transaction | 180 | 3.2999 USD |
| Common | Sell Transaction | 1,000 | 3.2999 USD |
| Common | Sell Transaction | 45 | 3.3051 USD |
| Common | Sell Transaction | 11,037 | 3.3100 USD |
| Common | Sell Transaction | 3 | 3.3193 USD |
| Common | Sell Transaction | 829 | 3.3237 USD |
| Common | Sell Transaction | 300 | 3.3267 USD |
| Common | Sell Transaction | 400 | 3.3300 USD |
| Common | Sell Transaction | 152 | 3.3316 USD |
| Common | Sell Transaction | 420 | 3.3389 USD |
| Common | Sell Transaction | 51 | 3.3392 USD |
| Common | Sell Transaction | 138 | 3.3452 USD |
| Common | Sell Transaction | 182 | 3.3484 USD |
| Common | Sell Transaction | 30 | 3.3500 USD |
| Common | Sell Transaction | 13,733 | 3.3600 USD |
| Common | Sell Transaction | 1,225 | 3.3616 USD |
| Common | Sell Transaction | 282 | 3.3667 USD |
| Common | Sell Transaction | 158 | 3.3700 USD |
| Common | Sell Transaction | 105 | 3.3900 USD |
| Common | Sell Transaction | 574 | 3.3952 USD |
| Common | Sell Transaction | 31 | 3.3965 USD |
| Common | Sell Transaction | 700 | 3.4100 USD |
| Common | Sell Transaction | 300 | 3.4167 USD |
| Common | Sell Transaction | 1,147 | 3.4193 USD |
| Common | Sell Transaction | 268 | 3.4208 USD |
| Common | Sell Transaction | 20 | 3.4290 USD |
| Common | Sell Transaction | 2,069 | 3.4300 USD |
| Common | Sell Transaction | 3,000 | 3.4399 USD |
| Common | Sell Transaction | 200 | 3.4400 USD |
| Common | Sell Transaction | 842 | 3.4600 USD |
| Common | Sell Transaction | 100 | 3.4700 USD |
| Common | Sell Transaction | 644 | 3.4750 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 |
| Common | CFD | Increasing long position | 223 | 3.2650 USD |
| Common | CFD | Increasing long position | 141 | 3.2700 USD |
| Common | CFD | Reducing long position | 73 | 3.3200 USD |
(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 | Call Option | Buy Transaction | 2 | 5.0000 USD | American | 2025-Jun-20 | 0.0700 USD |
| Common | Call Option | Sell Transaction | 1 | 7.0000 USD | American | 2025-Oct-17 | 0.1000 USD |
| Common | Call Option | Sell Transaction | 2 | 3.0000 USD | American | 2025-Jun-20 | 0.5700 USD |
(ii) Exercise
| Class of relevant security | Product description e.g. call option | Exercising/ exercised against | Number of securities | Exercise price per unit |
| Common | Put Option | Exercised against | 624 | 7.0000 USD
|
(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: | 8 April 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 | -5,400 | 4.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 200 | 6.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Purchased | 2,300 | 7.0 USD
| American
| 20/06/2025
|
| Common | Put Option | Purchased | -400 | 4.0 USD
| American
| 16/05/2025
|
| Common | Call Option | Purchased | 245,600 | 6.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 700 | 10.0 USD
| American
| 18/07/2025
|
| Common | Put Option | Purchased | -1,000 | 5.0 USD
| American
| 17/04/2025
|
| Common | Call Option | Purchased | 600 | 10.0 USD
| American
| 17/04/2025
|
| Common | Call Option | Purchased | 800 | 4.0 USD
| American
| 17/04/2025
|
| Common | Put Option | Purchased | -900 | 5.0 USD
| American
| 17/07/2026
|
| Common | Put Option | Purchased | -1,400 | 4.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Purchased | -700 | 7.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 6,000 | 4.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Purchased | 300 | 8.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Purchased | 2,500 | 10.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Purchased | 150,000 | 4.0 USD
| American
| 20/06/2025
|
| Common | Put Option | Purchased | -8,400 | 5.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Purchased | 6,000 | 5.0 USD
| American
| 20/06/2025
|
| Common | Put Option | Purchased | -104,200 | 6.0 USD
| American
| 20/06/2025
|
| Common | Put Option | Purchased | -1,400 | 5.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Purchased | 600,000 | 6.0 USD
| American
| 18/07/2025
|
| Common | Put Option | Purchased | -1,000 | 3.0 USD
| American
| 17/04/2025
|
| Common | Put Option | Purchased | -4,300 | 4.0 USD
| American
| 20/06/2025
|
| Common | Put Option | Purchased | -13,000 | 3.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Purchased | -99,800 | 7.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Purchased | 1,100 | 5.0 USD
| American
| 16/05/2025
|
| Common | Put Option | Purchased | -300 | 5.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Purchased | 1,000 | 5.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Purchased | 1,000,000 | 5.0 USD
| American
| 20/06/2025
|
| Common | Put Option | Purchased | -5,900 | 4.0 USD
| American
| 17/04/2025
|
| Common | Call Option | Sold | -500 | 4.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -200 | 15.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -118,400 | 7.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -2,800 | 4.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -9,500 | 4.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -2,000 | 6.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -800 | 12.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -8,600 | 8.0 USD
| American
| 17/04/2025
|
| Common | Put Option | Sold | 12,500 | 7.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -100 | 7.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Sold | -2,500 | 4.0 USD
| American
| 17/07/2026
|
| Common | Put Option | Sold | 4,700 | 6.0 USD
| American
| 17/04/2025
|
| Common | Call Option | Sold | -100 | 3.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Sold | -200 | 7.0 USD
| American
| 18/07/2025
|
| Common | Put Option | Sold | 800 | 5.0 USD
| American
| 18/07/2025
|
| Common | Put Option | Sold | 99,900 | 8.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -500 | 3.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -12,700 | 7.0 USD
| American
| 17/04/2025
|
| Common | Call Option | Sold | -31,700 | 5.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -1,400 | 3.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -1,700 | 6.0 USD
| American
| 17/04/2025
|
| Common | Call Option | Sold | -200 | 3.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -101,000 | 5.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -1,900 | 9.0 USD
| American
| 17/04/2025
|
| Common | Call Option | Sold | -13,900 | 5.0 USD
| American
| 17/04/2025
|
| Common | Call Option | Sold | -3,400 | 10.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -29,400 | 8.0 USD
| American
| 18/07/2025
|
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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