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 | 9 May 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: | 1,437,489 | 1.21 | 0 | 0.00 |
| (2) Cash-settled derivatives:
| 542,891 | 0.45 | 0 | 0.00 |
| (3) Stock-settled derivatives (including options) and agreements to purchase/sell: | 1,986,700 | 1.67 | 958,800 | 0.81 |
|
TOTAL: | 3,967,080 | 3.35 | 958,800 | 0.81 |
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 | 25 | 4.1664 USD |
| Common | Buy Transaction | 1 | 4.1700 USD |
| Common | Buy Transaction | 100 | 4.2600 USD |
| Common | Buy Transaction | 13 | 4.2654 USD |
| Common | Buy Transaction | 2,217 | 4.2700 USD |
| Common | Buy Transaction | 2,713 | 4.2740 USD |
| Common | Buy Transaction | 3,653 | 4.2752 USD |
| Common | Buy Transaction | 2,067 | 4.2753 USD |
| Common | Buy Transaction | 186 | 4.2768 USD |
| Common | Buy Transaction | 1,303 | 4.2777 USD |
| Common | Buy Transaction | 1,988 | 4.2799 USD |
| Common | Buy Transaction | 46,256 | 4.2800 USD |
| Common | Buy Transaction | 15 | 4.2807 USD |
| Common | Buy Transaction | 25 | 4.2808 USD |
| Common | Buy Transaction | 46,268 | 4.2819 USD |
| Common | Buy Transaction | 71 | 4.2823 USD |
| Common | Buy Transaction | 363 | 4.2831 USD |
| Common | Buy Transaction | 200 | 4.2850 USD |
| Common | Buy Transaction | 1 | 4.2854 USD |
| Common | Buy Transaction | 1,863 | 4.2873 USD |
| Common | Buy Transaction | 17 | 4.2876 USD |
| Common | Buy Transaction | 742 | 4.2881 USD |
| Common | Buy Transaction | 2,345 | 4.2888 USD |
| Common | Buy Transaction | 471 | 4.2892 USD |
| Common | Buy Transaction | 3,731 | 4.2893 USD |
| Common | Buy Transaction | 85 | 4.2898 USD |
| Common | Buy Transaction | 1,375 | 4.2898 USD |
| Common | Buy Transaction | 5,886 | 4.2900 USD |
| Common | Buy Transaction | 806 | 4.2901 USD |
| Common | Buy Transaction | 717 | 4.2913 USD |
| Common | Buy Transaction | 12,143 | 4.2916 USD |
| Common | Buy Transaction | 970 | 4.2918 USD |
| Common | Buy Transaction | 4,391 | 4.2948 USD |
| Common | Buy Transaction | 384 | 4.2950 USD |
| Common | Buy Transaction | 2,225 | 4.2950 USD |
| Common | Buy Transaction | 156,983 | 4.2955 USD |
| Common | Buy Transaction | 1,684 | 4.2957 USD |
| Common | Buy Transaction | 498 | 4.2957 USD |
| Common | Buy Transaction | 3,225 | 4.2966 USD |
| Common | Buy Transaction | 283 | 4.2972 USD |
| Common | Buy Transaction | 2,322 | 4.3000 USD |
| Common | Buy Transaction | 4,611 | 4.3000 USD |
| Common | Buy Transaction | 2,390 | 4.3005 USD |
| Common | Buy Transaction | 1,100 | 4.3023 USD |
| Common | Buy Transaction | 1,155 | 4.3036 USD |
| Common | Buy Transaction | 48 | 4.3042 USD |
| Common | Buy Transaction | 148 | 4.3047 USD |
| Common | Buy Transaction | 451 | 4.3049 USD |
| Common | Buy Transaction | 450 | 4.3050 USD |
| Common | Buy Transaction | 135 | 4.3050 USD |
| Common | Buy Transaction | 5,151 | 4.3077 USD |
| Common | Buy Transaction | 7,126 | 4.3077 USD |
| Common | Buy Transaction | 1,559 | 4.3081 USD |
| Common | Buy Transaction | 447 | 4.3099 USD |
| Common | Buy Transaction | 651 | 4.3100 USD |
| Common | Buy Transaction | 6,200 | 4.3103 USD |
| Common | Buy Transaction | 3,926 | 4.3103 USD |
| Common | Buy Transaction | 75 | 4.3109 USD |
| Common | Buy Transaction | 600 | 4.3117 USD |
| Common | Buy Transaction | 400 | 4.3125 USD |
| Common | Buy Transaction | 3,140 | 4.3147 USD |
| Common | Buy Transaction | 1,410 | 4.3148 USD |
| Common | Buy Transaction | 2,138 | 4.3150 USD |
| Common | Buy Transaction | 175 | 4.3150 USD |
| Common | Buy Transaction | 62,133 | 4.3151 USD |
| Common | Buy Transaction | 29 | 4.3152 USD |
| Common | Buy Transaction | 25 | 4.3152 USD |
| Common | Buy Transaction | 3,545 | 4.3153 USD |
| Common | Buy Transaction | 7 | 4.3157 USD |
| Common | Buy Transaction | 15 | 4.3160 USD |
| Common | Buy Transaction | 3 | 4.3167 USD |
| Common | Buy Transaction | 1,148 | 4.3172 USD |
| Common | Buy Transaction | 6,400 | 4.3184 USD |
| Common | Buy Transaction | 8,459 | 4.3194 USD |
| Common | Buy Transaction | 976 | 4.3197 USD |
| Common | Buy Transaction | 3,184 | 4.3200 USD |
| Common | Buy Transaction | 627 | 4.3223 USD |
| Common | Buy Transaction | 700 | 4.3229 USD |
| Common | Buy Transaction | 1,200 | 4.3242 USD |
| Common | Buy Transaction | 1,100 | 4.3250 USD |
| Common | Buy Transaction | 45 | 4.3251 USD |
| Common | Buy Transaction | 1,373 | 4.3252 USD |
| Common | Buy Transaction | 2,154 | 4.3253 USD |
| Common | Buy Transaction | 3,646 | 4.3262 USD |
| Common | Buy Transaction | 1,691 | 4.3282 USD |
| Common | Buy Transaction | 2,231 | 4.3289 USD |
| Common | Buy Transaction | 1,100 | 4.3293 USD |
| Common | Buy Transaction | 2,300 | 4.3300 USD |
| Common | Buy Transaction | 10 | 4.3320 USD |
| Common | Buy Transaction | 1 | 4.3328 USD |
| Common | Buy Transaction | 1,794 | 4.3329 USD |
| Common | Buy Transaction | 3,248 | 4.3337 USD |
| Common | Buy Transaction | 1,868 | 4.3341 USD |
| Common | Buy Transaction | 902 | 4.3367 USD |
| Common | Buy Transaction | 2,402 | 4.3371 USD |
| Common | Buy Transaction | 4,701 | 4.3381 USD |
| Common | Buy Transaction | 310 | 4.3382 USD |
| Common | Buy Transaction | 6,282 | 4.3383 USD |
| Common | Buy Transaction | 778 | 4.3389 USD |
| Common | Buy Transaction | 1,389 | 4.3393 USD |
| Common | Buy Transaction | 12 | 4.3400 USD |
| Common | Buy Transaction | 10,541 | 4.3403 USD |
| Common | Buy Transaction | 1,150 | 4.3404 USD |
| Common | Buy Transaction | 5,118 | 4.3415 USD |
| Common | Buy Transaction | 900 | 4.3422 USD |
| Common | Buy Transaction | 3,554 | 4.3431 USD |
| Common | Buy Transaction | 2,826 | 4.3442 USD |
| Common | Buy Transaction | 700 | 4.3443 USD |
| Common | Buy Transaction | 6,100 | 4.3447 USD |
| Common | Buy Transaction | 200 | 4.3450 USD |
| Common | Buy Transaction | 679 | 4.3458 USD |
| Common | Buy Transaction | 14,100 | 4.3467 USD |
| Common | Buy Transaction | 2,000 | 4.3490 USD |
| Common | Buy Transaction | 1,454 | 4.3496 USD |
| Common | Buy Transaction | 237 | 4.3497 USD |
| Common | Buy Transaction | 21,669 | 4.3500 USD |
| Common | Buy Transaction | 427 | 4.3503 USD |
| Common | Buy Transaction | 2,498 | 4.3504 USD |
| Common | Buy Transaction | 500 | 4.3560 USD |
| Common | Buy Transaction | 35 | 4.3600 USD |
| Common | Buy Transaction | 11 | 4.3655 USD |
| Common | Buy Transaction | 1,800 | 4.3689 USD |
| Common | Buy Transaction | 200 | 4.3700 USD |
| Common | Buy Transaction | 709 | 4.3787 USD |
| Common | Buy Transaction | 251 | 4.3789 USD |
| Common | Buy Transaction | 702 | 4.3800 USD |
| Common | DVP Transaction | 41,907 | 4.2800 USD |
| Common | DVP Transaction | 2,225 | 4.2950 USD |
| Common | DVP Transaction | 5 | 4.3100 USD |
| Common | DVP Transaction | 860 | 4.3150 USD |
| Common | DVP Transaction | 105 | 4.3150 USD |
| Common | DVP Transaction | 5 | 4.3160 USD |
| Common | DVP Transaction | 31 | 4.3210 USD |
| Common | DVP Transaction | 1 | 4.3300 USD |
| Common | DVP Transaction | 303 | 4.3347 USD |
| Common | DVP Transaction | 175 | 4.3700 USD |
| Common | DVP Transaction | 1,816 | 4.3800 USD |
| Common | DVP Transaction | 6 | 4.3817 USD |
| Common | RVP Transaction | 41,780 | 4.2800 USD |
| Common | RVP Transaction | 2,225 | 4.2950 USD |
| Common | RVP Transaction | 113 | 4.3090 USD |
| Common | RVP Transaction | 5 | 4.3100 USD |
| Common | RVP Transaction | 860 | 4.3150 USD |
| Common | RVP Transaction | 105 | 4.3150 USD |
| Common | RVP Transaction | 13 | 4.3154 USD |
| Common | RVP Transaction | 5 | 4.3160 USD |
| Common | RVP Transaction | 18 | 4.3250 USD |
| Common | RVP Transaction | 1 | 4.3300 USD |
| Common | RVP Transaction | 277 | 4.3342 USD |
| Common | RVP Transaction | 175 | 4.3500 USD |
| Common | RVP Transaction | 190 | 4.3684 USD |
| Common | RVP Transaction | 66 | 4.3800 USD |
| Common | RVP Transaction | 1,606 | 4.3800 USD |
| Common | Sell Transaction | 261 | 4.2700 USD |
| Common | Sell Transaction | 12 | 4.2717 USD |
| Common | Sell Transaction | 206 | 4.2781 USD |
| Common | Sell Transaction | 0 | 4.2788 USD |
| Common | Sell Transaction | 186 | 4.2788 USD |
| Common | Sell Transaction | 5,133 | 4.2789 USD |
| Common | Sell Transaction | 151 | 4.2797 USD |
| Common | Sell Transaction | 1,489 | 4.2799 USD |
| Common | Sell Transaction | 51,004 | 4.2800 USD |
| Common | Sell Transaction | 24,681 | 4.2802 USD |
| Common | Sell Transaction | 12,844 | 4.2804 USD |
| Common | Sell Transaction | 1,100 | 4.2809 USD |
| Common | Sell Transaction | 673 | 4.2811 USD |
| Common | Sell Transaction | 1,800 | 4.2812 USD |
| Common | Sell Transaction | 300 | 4.2817 USD |
| Common | Sell Transaction | 149 | 4.2821 USD |
| Common | Sell Transaction | 5,876 | 4.2825 USD |
| Common | Sell Transaction | 15 | 4.2827 USD |
| Common | Sell Transaction | 435 | 4.2834 USD |
| Common | Sell Transaction | 8 | 4.2850 USD |
| Common | Sell Transaction | 2 | 4.2854 USD |
| Common | Sell Transaction | 285 | 4.2889 USD |
| Common | Sell Transaction | 116 | 4.2889 USD |
| Common | Sell Transaction | 3,443 | 4.2890 USD |
| Common | Sell Transaction | 478 | 4.2890 USD |
| Common | Sell Transaction | 2,651 | 4.2890 USD |
| Common | Sell Transaction | 126 | 4.2890 USD |
| Common | Sell Transaction | 383 | 4.2891 USD |
| Common | Sell Transaction | 17,191 | 4.2900 USD |
| Common | Sell Transaction | 143 | 4.2914 USD |
| Common | Sell Transaction | 1,393 | 4.2921 USD |
| Common | Sell Transaction | 1,800 | 4.2933 USD |
| Common | Sell Transaction | 5,759 | 4.2942 USD |
| Common | Sell Transaction | 4,459 | 4.2943 USD |
| Common | Sell Transaction | 129 | 4.2945 USD |
| Common | Sell Transaction | 1,822 | 4.2950 USD |
| Common | Sell Transaction | 156,983 | 4.2955 USD |
| Common | Sell Transaction | 3,307 | 4.2970 USD |
| Common | Sell Transaction | 196 | 4.2970 USD |
| Common | Sell Transaction | 158 | 4.2992 USD |
| Common | Sell Transaction | 240 | 4.2992 USD |
| Common | Sell Transaction | 6,185 | 4.3000 USD |
| Common | Sell Transaction | 1,411 | 4.3000 USD |
| Common | Sell Transaction | 8,769 | 4.3012 USD |
| Common | Sell Transaction | 1,490 | 4.3019 USD |
| Common | Sell Transaction | 1,155 | 4.3036 USD |
| Common | Sell Transaction | 3,062 | 4.3040 USD |
| Common | Sell Transaction | 203 | 4.3052 USD |
| Common | Sell Transaction | 1,802 | 4.3064 USD |
| Common | Sell Transaction | 6 | 4.3067 USD |
| Common | Sell Transaction | 729 | 4.3077 USD |
| Common | Sell Transaction | 398 | 4.3098 USD |
| Common | Sell Transaction | 3,337 | 4.3100 USD |
| Common | Sell Transaction | 746 | 4.3115 USD |
| Common | Sell Transaction | 884 | 4.3116 USD |
| Common | Sell Transaction | 197 | 4.3121 USD |
| Common | Sell Transaction | 7,097 | 4.3123 USD |
| Common | Sell Transaction | 3,896 | 4.3129 USD |
| Common | Sell Transaction | 55,856 | 4.3131 USD |
| Common | Sell Transaction | 1,507 | 4.3137 USD |
| Common | Sell Transaction | 1,584 | 4.3138 USD |
| Common | Sell Transaction | 43 | 4.3140 USD |
| Common | Sell Transaction | 2,728 | 4.3141 USD |
| Common | Sell Transaction | 26 | 4.3150 USD |
| Common | Sell Transaction | 631 | 4.3155 USD |
| Common | Sell Transaction | 710 | 4.3159 USD |
| Common | Sell Transaction | 300 | 4.3167 USD |
| Common | Sell Transaction | 567 | 4.3171 USD |
| Common | Sell Transaction | 419 | 4.3176 USD |
| Common | Sell Transaction | 550 | 4.3180 USD |
| Common | Sell Transaction | 2,909 | 4.3181 USD |
| Common | Sell Transaction | 608 | 4.3190 USD |
| Common | Sell Transaction | 953 | 4.3200 USD |
| Common | Sell Transaction | 1,812 | 4.3209 USD |
| Common | Sell Transaction | 464 | 4.3217 USD |
| Common | Sell Transaction | 1,000 | 4.3220 USD |
| Common | Sell Transaction | 300 | 4.3233 USD |
| Common | Sell Transaction | 2,671 | 4.3256 USD |
| Common | Sell Transaction | 1,300 | 4.3273 USD |
| Common | Sell Transaction | 500 | 4.3280 USD |
| Common | Sell Transaction | 80 | 4.3293 USD |
| Common | Sell Transaction | 2,411 | 4.3299 USD |
| Common | Sell Transaction | 1,000 | 4.3299 USD |
| Common | Sell Transaction | 26 | 4.3300 USD |
| Common | Sell Transaction | 1,800 | 4.3328 USD |
| Common | Sell Transaction | 299 | 4.3334 USD |
| Common | Sell Transaction | 1,300 | 4.3346 USD |
| Common | Sell Transaction | 200 | 4.3350 USD |
| Common | Sell Transaction | 65 | 4.3351 USD |
| Common | Sell Transaction | 204 | 4.3365 USD |
| Common | Sell Transaction | 4,661 | 4.3376 USD |
| Common | Sell Transaction | 279 | 4.3402 USD |
| Common | Sell Transaction | 987 | 4.3407 USD |
| Common | Sell Transaction | 723 | 4.3428 USD |
| Common | Sell Transaction | 700 | 4.3429 USD |
| Common | Sell Transaction | 219 | 4.3434 USD |
| Common | Sell Transaction | 622 | 4.3446 USD |
| Common | Sell Transaction | 772 | 4.3480 USD |
| Common | Sell Transaction | 1,000 | 4.3492 USD |
| Common | Sell Transaction | 23 | 4.3496 USD |
| Common | Sell Transaction | 37 | 4.3500 USD |
| Common | Sell Transaction | 502 | 4.3520 USD |
| Common | Sell Transaction | 617 | 4.3524 USD |
| Common | Sell Transaction | 500 | 4.3540 USD |
| Common | Sell Transaction | 900 | 4.3544 USD |
| Common | Sell Transaction | 304 | 4.3550 USD |
| Common | Sell Transaction | 809 | 4.3600 USD |
| Common | Sell Transaction | 301 | 4.3617 USD |
| Common | Sell Transaction | 100 | 4.3650 USD |
| Common | Sell Transaction | 727 | 4.3700 USD |
| Common | Sell Transaction | 114 | 4.3784 USD |
| Common | Sell Transaction | 1 | 4.4600 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 | 13,470 | 4.2800 USD |
| Common | CFD | Increasing long position | 20,819 | 4.3042 USD |
| Common | CFD | Increasing long position | 68,906 | 4.3050 USD |
| Common | CFD | Increasing long position | 26,559 | 4.3058 USD |
| Common | CFD | Increasing long position | 49,883 | 4.3064 USD |
| Common | CFD | Increasing long position | 48,751 | 4.3097 USD |
| Common | CFD | Increasing long position | 4,400 | 4.3193 USD |
| Common | CFD | Increasing long position | 1,000 | 4.3350 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 | Put Option | Buy Transaction | 1 | 4.0000 USD | American | 2025-Jun-20 | 0.2000 USD |
| Common | Call Option | Buy Transaction | 5 | 4.0000 USD | American | 2025-Jun-20 | 0.5100 USD |
| Common | Call Option | Buy Transaction | 17 | 4.0000 USD | American | 2025-Oct-17 | 0.9100 USD |
| Common | Call Option | DVP Transaction | 2 | 6.0000 USD | American | 2025-Jul-18 | 0.0600 USD |
| Common | Call Option | DVP Transaction | 1 | 5.0000 USD | American | 2025-Jun-20 | 0.1400 USD |
| Common | Call Option | DVP Transaction | 60 | 5.0000 USD | American | 2025-Jun-20 | 0.1433 USD |
| Common | Put Option | DVP Transaction | 1 | 4.0000 USD | American | 2025-Jun-20 | 0.2000 USD |
| Common | Call Option | DVP Transaction | 6 | 5.0000 USD | American | 2025-Jul-18 | 0.2500 USD |
| Common | Call Option | DVP Transaction | 20 | 5.0000 USD | American | 2025-Jul-18 | 0.2760 USD |
| Common | Call Option | DVP Transaction | 1 | 6.0000 USD | American | 2025-Oct-17 | 0.3500 USD |
| Common | Call Option | DVP Transaction | 2 | 4.0000 USD | American | 2025-May-16 | 0.3500 USD |
| Common | Call Option | DVP Transaction | 30 | 4.0000 USD | American | 2025-May-16 | 0.4000 USD |
| Common | Call Option | DVP Transaction | 1 | 5.0000 USD | American | 2025-Oct-17 | 0.5000 USD |
| Common | Call Option | DVP Transaction | 10 | 4.0000 USD | American | 2025-Jun-20 | 0.5100 USD |
| Common | Call Option | DVP Transaction | 35 | 5.0000 USD | American | 2025-Oct-17 | 0.5200 USD |
| Common | Call Option | DVP Transaction | 4 | 5.0000 USD | American | 2026-Jan-16 | 0.8000 USD |
| Common | Call Option | DVP Transaction | 10 | 5.0000 USD | American | 2026-Jul-17 | 0.9500 USD |
| Common | Call Option | DVP Transaction | 64 | 4.0000 USD | American | 2025-Oct-17 | 0.9508 USD |
| Common | Call Option | DVP Transaction | 8 | 4.0000 USD | American | 2025-Oct-17 | 1.0000 USD |
| Common | Call Option | DVP Transaction | 1 | 3.0000 USD | American | 2026-Jul-17 | 1.8500 USD |
| Common | Call Option | RVP Transaction | 2 | 6.0000 USD | American | 2025-Jul-18 | 0.0600 USD |
| Common | Call Option | RVP Transaction | 41 | 5.0000 USD | American | 2025-Jun-20 | 0.1400 USD |
| Common | Call Option | RVP Transaction | 20 | 5.0000 USD | American | 2025-Jun-20 | 0.1500 USD |
| Common | Put Option | RVP Transaction | 1 | 4.0000 USD | American | 2025-Jun-20 | 0.2000 USD |
| Common | Call Option | RVP Transaction | 6 | 5.0000 USD | American | 2025-Jul-18 | 0.2500 USD |
| Common | Call Option | RVP Transaction | 20 | 5.0000 USD | American | 2025-Jul-18 | 0.2760 USD |
| Common | Call Option | RVP Transaction | 1 | 6.0000 USD | American | 2025-Oct-17 | 0.3500 USD |
| Common | Call Option | RVP Transaction | 2 | 4.0000 USD | American | 2025-May-16 | 0.3500 USD |
| Common | Call Option | RVP Transaction | 30 | 4.0000 USD | American | 2025-May-16 | 0.4000 USD |
| Common | Call Option | RVP Transaction | 1 | 5.0000 USD | American | 2025-Oct-17 | 0.5000 USD |
| Common | Call Option | RVP Transaction | 10 | 4.0000 USD | American | 2025-Jun-20 | 0.5100 USD |
| Common | Call Option | RVP Transaction | 35 | 5.0000 USD | American | 2025-Oct-17 | 0.5200 USD |
| Common | Call Option | RVP Transaction | 4 | 5.0000 USD | American | 2026-Jan-16 | 0.8000 USD |
| Common | Call Option | RVP Transaction | 10 | 5.0000 USD | American | 2026-Jul-17 | 0.9500 USD |
| Common | Call Option | RVP Transaction | 72 | 4.0000 USD | American | 2025-Oct-17 | 0.9563 USD |
| Common | Call Option | RVP Transaction | 1 | 3.0000 USD | American | 2026-Jul-17 | 1.8500 USD |
| Common | Call Option | Sell Transaction | 3 | 7.0000 USD | American | 2025-Jun-20 | 0.0500 USD |
| Common | Call Option | Sell Transaction | 26 | 5.0000 USD | American | 2025-Jun-20 | 0.1400 USD |
| Common | Call Option | Sell Transaction | 12 | 5.0000 USD | American | 2025-Jun-20 | 0.1500 USD |
| Common | Call Option | Sell Transaction | 1,920 | 5.0000 USD | American | 2025-Jul-18 | 0.2500 USD |
| Common | Call Option | Sell Transaction | 7 | 5.0000 USD | American | 2025-Jul-18 | 0.2700 USD |
| Common | Call Option | Sell Transaction | 7 | 5.0000 USD | American | 2025-Jul-18 | 0.2800 USD |
| Common | Call Option | Sell Transaction | 2,881 | 5.0000 USD | American | 2025-Jul-18 | 0.3000 USD |
| Common | Call Option | Sell Transaction | 1 | 6.0000 USD | American | 2025-Oct-17 | 0.3500 USD |
| Common | Call Option | Sell Transaction | 17 | 5.0000 USD | American | 2025-Oct-17 | 0.5200 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: | 12 May 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 | -300 | 5.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Purchased | -600 | 4.0 USD
| American
| 16/05/2025
|
| Common | Call Option | Purchased | 9,100 | 5.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Purchased | -8,500 | 5.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Purchased | -9,400 | 4.0 USD
| American
| 20/06/2025
|
| Common | Put Option | Purchased | -2,300 | 5.0 USD
| American
| 16/05/2025
|
| Common | Call Option | Purchased | 12,300 | 3.0 USD
| American
| 16/05/2025
|
| Common | Put Option | Purchased | -13,000 | 3.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Purchased | -900 | 5.0 USD
| American
| 17/07/2026
|
| Common | Put Option | Purchased | -700 | 7.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 300 | 8.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Purchased | 600 | 6.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Purchased | 600,000 | 6.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 2,000 | 7.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Purchased | 2,600 | 10.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Purchased | -500 | 3.0 USD
| American
| 16/05/2025
|
| Common | Call Option | Purchased | 245,800 | 6.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 700 | 10.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 1,000,000 | 5.0 USD
| American
| 20/06/2025
|
| Common | Put Option | Purchased | -1,400 | 5.0 USD
| American
| 20/06/2025
|
| Common | Put Option | Purchased | -5,800 | 4.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 7,100 | 4.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Purchased | 300 | 2.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Purchased | -1,400 | 4.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Purchased | 4,800 | 4.0 USD
| American
| 16/05/2025
|
| Common | Call Option | Purchased | 1,000 | 3.0 USD
| American
| 18/07/2025
|
| Common | Put Option | Sold | 99,900 | 8.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -93,000 | 5.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Sold | -606,800 | 5.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -36,200 | 5.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -3,400 | 10.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -500 | 4.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -100 | 7.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Sold | 100 | 5.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -2,500 | 4.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -29,400 | 8.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -118,400 | 7.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -400 | 3.0 USD
| American
| 17/07/2026
|
| Common | Put Option | Sold | 100 | 3.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -2,000 | 3.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Sold | -800 | 6.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -900 | 6.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -200 | 15.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -800 | 12.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -200 | 7.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -4,100 | 5.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -2,500 | 4.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -200 | 3.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -9,100 | 4.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -1,000 | 5.0 USD
| American
| 16/05/2025
|
| Common | Call Option | Sold | -1,400 | 3.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -100 | 2.0 USD
| American
| 17/07/2026
|
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.