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 | DOWLAIS GROUP PLC |
| (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 AMERICAN AXLE MANUFACTURING HOLDINGS INC |
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 GB00BMWRZ071 1p ordinary | |||
|
| Interests | Short positions | ||
|
| Number | % | Number | % |
| (1) Relevant securities owned and/or controlled: | 1,225,983 | 0.09 | 88,713 | 0.00 |
| (2) Cash-settled derivatives:
| 0 | 0.00 | 1,510,954 | 0.11 |
| (3) Stock-settled derivatives (including options) and agreements to purchase/sell: | 0 | 0.00 | 0 | 0.00 |
|
TOTAL: | 1,225,983 | 0.09 | 1,599,667 | 0.11 |
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 | 2,881 | 0.4698 GBP |
| Common | Buy Transaction | 139,564 | 0.4700 GBP |
| Common | Buy Transaction | 2,736 | 0.4720 GBP |
| Common | Buy Transaction | 3,519 | 0.4752 GBP |
| Common | Buy Transaction | 6,959 | 0.4756 GBP |
| Common | Buy Transaction | 1,786 | 0.4758 GBP |
| Common | Buy Transaction | 5,000 | 0.4770 GBP |
| Common | Buy Transaction | 1,079 | 0.4792 GBP |
| Common | Buy Transaction | 1,389 | 0.4796 GBP |
| Common | Buy Transaction | 1,334 | 0.4798 GBP |
| Common | Buy Transaction | 405,085 | 0.4800 GBP |
| Common | Buy Transaction | 3,663 | 0.4810 GBP |
| Common | Buy Transaction | 20,914 | 0.4812 GBP |
| Common | Buy Transaction | 574 | 0.4840 GBP |
| Common | Buy Transaction | 336 | 0.4874 GBP |
| Common | Buy Transaction | 1,675 | 0.4904 GBP |
| Common | Buy Transaction | 2,420 | 0.4906 GBP |
| Common | Buy Transaction | 6,365 | 0.4922 GBP |
| Common | Buy Transaction | 4,099 | 0.4924 GBP |
| Common | Buy Transaction | 4,989 | 0.4926 GBP |
| Common | Buy Transaction | 2 | 0.4928 GBP |
| Common | Buy Transaction | 364 | 0.4932 GBP |
| Common | Buy Transaction | 2,881 | 0.4936 GBP |
| Common | Buy Transaction | 16,672 | 0.4938 GBP |
| Common | Buy Transaction | 6,719 | 0.4940 GBP |
| Common | Buy Transaction | 2,734 | 0.4942 GBP |
| Common | Buy Transaction | 2,791 | 0.4944 GBP |
| Common | Buy Transaction | 2,861 | 0.4946 GBP |
| Common | Buy Transaction | 9,366 | 0.4948 GBP |
| Common | Buy Transaction | 20,637 | 0.4950 GBP |
| Common | Buy Transaction | 3,043 | 0.4954 GBP |
| Common | Buy Transaction | 4,816 | 0.4956 GBP |
| Common | Buy Transaction | 1,906 | 0.4958 GBP |
| Common | Buy Transaction | 4,197 | 0.4960 GBP |
| Common | Buy Transaction | 4,868 | 0.4962 GBP |
| Common | Buy Transaction | 5,082 | 0.4964 GBP |
| Common | Buy Transaction | 4,550 | 0.4966 GBP |
| Common | Buy Transaction | 1,350 | 0.4968 GBP |
| Common | Buy Transaction | 1,354 | 0.4970 GBP |
| Common | Buy Transaction | 158 | 0.4972 GBP |
| Common | Buy Transaction | 1,296 | 0.4974 GBP |
| Common | Buy Transaction | 708 | 0.4976 GBP |
| Common | Buy Transaction | 123 | 0.4978 GBP |
| Common | Buy Transaction | 369 | 0.4980 GBP |
| Common | Buy Transaction | 185 | 0.4982 GBP |
| Common | Buy Transaction | 3,717 | 0.4984 GBP |
| Common | Buy Transaction | 3,531 | 0.4986 GBP |
| Common | Buy Transaction | 543 | 0.4990 GBP |
| Common | Buy Transaction | 15,098 | 0.4992 GBP |
| Common | Buy Transaction | 2,770 | 0.4994 GBP |
| Common | Buy Transaction | 83,571 | 0.4994 GBP |
| Common | Buy Transaction | 2,510 | 0.4995 GBP |
| Common | Buy Transaction | 10,752 | 0.4996 GBP |
| Common | Buy Transaction | 9,297 | 0.4998 GBP |
| Common | Buy Transaction | 1,365 | 0.4999 GBP |
| Common | Buy Transaction | 1,438 | 0.5000 GBP |
| Common | Buy Transaction | 95,499 | 0.5000 GBP |
| Common | Buy Transaction | 9,462 | 0.5003 GBP |
| Common | Buy Transaction | 33,953 | 0.5005 GBP |
| Common | Buy Transaction | 3,000 | 0.5007 GBP |
| Common | Buy Transaction | 4,217 | 0.5008 GBP |
| Common | Buy Transaction | 16,287 | 0.5010 GBP |
| Common | Buy Transaction | 17,997 | 0.5015 GBP |
| Common | Buy Transaction | 22,516 | 0.5020 GBP |
| Common | Buy Transaction | 19,329 | 0.5025 GBP |
| Common | Buy Transaction | 2,806 | 0.5028 GBP |
| Common | Buy Transaction | 12,559 | 0.5030 GBP |
| Common | Buy Transaction | 432 | 0.5035 GBP |
| Common | Buy Transaction | 3,099 | 0.5045 GBP |
| Common | Buy Transaction | 26,577 | 0.5050 GBP |
| Common | Buy Transaction | 38,664 | 0.5055 GBP |
| Common | Buy Transaction | 9,111 | 0.5060 GBP |
| Common | Buy Transaction | 12,685 | 0.5065 GBP |
| Common | Buy Transaction | 27,900 | 0.5068 GBP |
| Common | Buy Transaction | 70,010 | 0.5070 GBP |
| Common | Buy Transaction | 31,608 | 0.5075 GBP |
| Common | Buy Transaction | 7,112 | 0.5080 GBP |
| Common | Buy Transaction | 3,718 | 0.5082 GBP |
| Common | Buy Transaction | 41,299 | 0.5085 GBP |
| Common | Buy Transaction | 4,166 | 0.5090 GBP |
| Common | Buy Transaction | 71,461 | 0.5100 GBP |
| Common | Buy Transaction | 2,382 | 0.5105 GBP |
| Common | Buy Transaction | 1,771 | 0.5110 GBP |
| Common | Buy Transaction | 26,034 | 0.5115 GBP |
| Common | Buy Transaction | 39,696 | 0.5125 GBP |
| Common | Buy Transaction | 99,823 | 0.5130 GBP |
| Common | Buy Transaction | 65,818 | 0.5135 GBP |
| Common | Buy Transaction | 6,631 | 0.5140 GBP |
| Common | Buy Transaction | 2,206 | 0.5145 GBP |
| Common | Buy Transaction | 42,425 | 0.5150 GBP |
| Common | Buy Transaction | 1,111 | 0.5155 GBP |
| Common | Buy Transaction | 3,650 | 0.5160 GBP |
| Common | Buy Transaction | 5,489 | 0.5165 GBP |
| Common | Buy Transaction | 10,371 | 0.5170 GBP |
| Common | Buy Transaction | 6,167 | 0.5175 GBP |
| Common | Buy Transaction | 8,282 | 0.5180 GBP |
| Common | Buy Transaction | 4,523 | 0.5185 GBP |
| Common | Buy Transaction | 9,331 | 0.5190 GBP |
| Common | Buy Transaction | 7,073 | 0.5195 GBP |
| Common | Buy Transaction | 292,395 | 0.5200 GBP |
| Common | Buy Transaction | 8,134 | 0.5210 GBP |
| Common | Buy Transaction | 4,446 | 0.5215 GBP |
| Common | Buy Transaction | 2,355 | 0.5220 GBP |
| Common | Buy Transaction | 1,952 | 0.5225 GBP |
| Common | Buy Transaction | 15,665 | 0.5230 GBP |
| Common | Buy Transaction | 4,909 | 0.5235 GBP |
| Common | Buy Transaction | 116 | 0.5245 GBP |
| Common | Buy Transaction | 25 | 0.5250 GBP |
| Common | Buy Transaction | 292 | 0.5255 GBP |
| Common | Buy Transaction | 396 | 0.5260 GBP |
| Common | Buy Transaction | 3,875 | 0.5265 GBP |
| Common | Buy Transaction | 607 | 0.5280 GBP |
| Common | Buy Transaction | 4,203 | 0.5290 GBP |
| Common | Buy Transaction | 1,317 | 0.5295 GBP |
| Common | Buy Transaction | 162 | 0.5300 GBP |
| Common | Sell Transaction | 1,650 | 0.4830 GBP |
| Common | Sell Transaction | 229 | 0.4832 GBP |
| Common | Sell Transaction | 1 | 0.4834 GBP |
| Common | Sell Transaction | 73 | 0.4836 GBP |
| Common | Sell Transaction | 68 | 0.4878 GBP |
| Common | Sell Transaction | 546 | 0.4880 GBP |
| Common | Sell Transaction | 85 | 0.4894 GBP |
| Common | Sell Transaction | 2,227 | 0.4900 GBP |
| Common | Sell Transaction | 525 | 0.4904 GBP |
| Common | Sell Transaction | 1,023 | 0.4914 GBP |
| Common | Sell Transaction | 255 | 0.4935 GBP |
| Common | Sell Transaction | 778 | 0.4938 GBP |
| Common | Sell Transaction | 8,174 | 0.4944 GBP |
| Common | Sell Transaction | 1,353 | 0.4946 GBP |
| Common | Sell Transaction | 19,021 | 0.4954 GBP |
| Common | Sell Transaction | 25 | 0.4956 GBP |
| Common | Sell Transaction | 27 | 0.4962 GBP |
| Common | Sell Transaction | 74 | 0.4964 GBP |
| Common | Sell Transaction | 5,149 | 0.4968 GBP |
| Common | Sell Transaction | 3,701 | 0.4972 GBP |
| Common | Sell Transaction | 3,010 | 0.4974 GBP |
| Common | Sell Transaction | 9,285 | 0.4976 GBP |
| Common | Sell Transaction | 832 | 0.4980 GBP |
| Common | Sell Transaction | 1,072 | 0.4988 GBP |
| Common | Sell Transaction | 4,562 | 0.4990 GBP |
| Common | Sell Transaction | 5,119 | 0.4992 GBP |
| Common | Sell Transaction | 27,201 | 0.4994 GBP |
| Common | Sell Transaction | 2,243 | 0.4996 GBP |
| Common | Sell Transaction | 94,271 | 0.5020 GBP |
| Common | Sell Transaction | 15,000 | 0.5025 GBP |
| Common | Sell Transaction | 615 | 0.5030 GBP |
| Common | Sell Transaction | 99,493 | 0.5035 GBP |
| Common | Sell Transaction | 4,117 | 0.5040 GBP |
| Common | Sell Transaction | 2,629 | 0.5045 GBP |
| Common | Sell Transaction | 4,019 | 0.5050 GBP |
| Common | Sell Transaction | 8,652 | 0.5055 GBP |
| Common | Sell Transaction | 24,915 | 0.5060 GBP |
| Common | Sell Transaction | 60,402 | 0.5065 GBP |
| Common | Sell Transaction | 15,000 | 0.5075 GBP |
| Common | Sell Transaction | 10,376 | 0.5080 GBP |
| Common | Sell Transaction | 12,538 | 0.5085 GBP |
| Common | Sell Transaction | 15,539 | 0.5090 GBP |
| Common | Sell Transaction | 51,301 | 0.5095 GBP |
| Common | Sell Transaction | 1,612 | 0.5100 GBP |
| Common | Sell Transaction | 43,521 | 0.5105 GBP |
| Common | Sell Transaction | 22,011 | 0.5110 GBP |
| Common | Sell Transaction | 19,132 | 0.5115 GBP |
| Common | Sell Transaction | 182 | 0.5120 GBP |
| Common | Sell Transaction | 3,785 | 0.5125 GBP |
| Common | Sell Transaction | 139,007 | 0.5130 GBP |
| Common | Sell Transaction | 4,581 | 0.5135 GBP |
| Common | Sell Transaction | 2,077 | 0.5140 GBP |
| Common | Sell Transaction | 1,447 | 0.5145 GBP |
| Common | Sell Transaction | 967 | 0.5160 GBP |
| Common | Sell Transaction | 5,264 | 0.5175 GBP |
| Common | Sell Transaction | 18,338 | 0.5180 GBP |
| Common | Sell Transaction | 9,948 | 0.5200 GBP |
| Common | Sell Transaction | 15,784 | 0.5205 GBP |
| Common | Sell Transaction | 4,351 | 0.5210 GBP |
| Common | Sell Transaction | 7,140 | 0.5215 GBP |
| Common | Sell Transaction | 2,486 | 0.5220 GBP |
| Common | Sell Transaction | 300 | 0.5225 GBP |
| Common | Sell Transaction | 18,703 | 0.5230 GBP |
| Common | Sell Transaction | 7,338 | 0.5240 GBP |
| Common | Sell Transaction | 1,139 | 0.5245 GBP |
| Common | Sell Transaction | 1,630 | 0.5250 GBP |
| Common | Sell Transaction | 6,959 | 0.5252 GBP |
| Common | Sell Transaction | 4,286 | 0.5255 GBP |
| Common | Sell Transaction | 9,109 | 0.5265 GBP |
| Common | Sell Transaction | 2,357 | 0.5268 GBP |
| Common | Sell Transaction | 12,433 | 0.5270 GBP |
| Common | Sell Transaction | 9,798 | 0.5275 GBP |
| Common | Sell Transaction | 9,691 | 0.5280 GBP |
| Common | Sell Transaction | 16,558 | 0.5285 GBP |
| Common | Sell Transaction | 9,700 | 0.5290 GBP |
| Common | Sell Transaction | 5,161 | 0.5295 GBP |
| Common | Sell Transaction | 1,152 | 0.5298 GBP |
| Common | Sell Transaction | 9,809 | 0.5300 GBP |
| Common | Sell Transaction | 1,039 | 0.5308 GBP |
(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 | Reducing short position | 204,294 | 0.4751 GBP |
| Common | CFD | Reducing short position | 323,504 | 0.4822 GBP |
| Common | CFD | Reducing short position | 440,775 | 0.4968 GBP |
| Common | CFD | Reducing short position | 48,486 | 0.5043 GBP |
(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 |
(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? | NO |
| 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.
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