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 | 12 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: | 1,384,076 | 1.16 | 0 | 0.00 |
| (2) Cash-settled derivatives:
| 587,825 | 0.49 | 0 | 0.00 |
| (3) Stock-settled derivatives (including options) and agreements to purchase/sell: | 1,987,000 | 1.67 | 952,700 | 0.80 |
|
TOTAL: | 3,958,901 | 3.34 | 952,700 | 0.80 |
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 | 1,000 | 4.3901 USD |
| Common | Buy Transaction | 1,112 | 4.4100 USD |
| Common | Buy Transaction | 372 | 4.4200 USD |
| Common | Buy Transaction | 104 | 4.4300 USD |
| Common | Buy Transaction | 20,067 | 4.4307 USD |
| Common | Buy Transaction | 788 | 4.4310 USD |
| Common | Buy Transaction | 211 | 4.4316 USD |
| Common | Buy Transaction | 297 | 4.4364 USD |
| Common | Buy Transaction | 834 | 4.4391 USD |
| Common | Buy Transaction | 300 | 4.4400 USD |
| Common | Buy Transaction | 696 | 4.4401 USD |
| Common | Buy Transaction | 4,800 | 4.4401 USD |
| Common | Buy Transaction | 422 | 4.4413 USD |
| Common | Buy Transaction | 800 | 4.4475 USD |
| Common | Buy Transaction | 1,002 | 4.4494 USD |
| Common | Buy Transaction | 302 | 4.4499 USD |
| Common | Buy Transaction | 1,131 | 4.4500 USD |
| Common | Buy Transaction | 903 | 4.4501 USD |
| Common | Buy Transaction | 1,013 | 4.4600 USD |
| Common | Buy Transaction | 369 | 4.4693 USD |
| Common | Buy Transaction | 2,136 | 4.4865 USD |
| Common | Buy Transaction | 1,223 | 4.4869 USD |
| Common | Buy Transaction | 10,143 | 4.4900 USD |
| Common | Buy Transaction | 1,426 | 4.4902 USD |
| Common | Buy Transaction | 1,931 | 4.4911 USD |
| Common | Buy Transaction | 597 | 4.4950 USD |
| Common | Buy Transaction | 946 | 4.4976 USD |
| Common | Buy Transaction | 300 | 4.5000 USD |
| Common | Buy Transaction | 46,310 | 4.5019 USD |
| Common | Buy Transaction | 498 | 4.5058 USD |
| Common | Buy Transaction | 500 | 4.5120 USD |
| Common | Buy Transaction | 634 | 4.5171 USD |
| Common | Buy Transaction | 3,532 | 4.5187 USD |
| Common | Buy Transaction | 6,000 | 4.5200 USD |
| Common | Buy Transaction | 35,881 | 4.5229 USD |
| Common | Buy Transaction | 373 | 4.5293 USD |
| Common | Buy Transaction | 40 | 4.5300 USD |
| Common | Buy Transaction | 1,000 | 4.5320 USD |
| Common | Buy Transaction | 31,137 | 4.5355 USD |
| Common | Buy Transaction | 6,400 | 4.5366 USD |
| Common | Buy Transaction | 91,247 | 4.5384 USD |
| Common | Buy Transaction | 263 | 4.5400 USD |
| Common | Buy Transaction | 5,740 | 4.5420 USD |
| Common | Buy Transaction | 949 | 4.5453 USD |
| Common | Buy Transaction | 594 | 4.5466 USD |
| Common | Buy Transaction | 1,112 | 4.5470 USD |
| Common | Buy Transaction | 462 | 4.5472 USD |
| Common | Buy Transaction | 582 | 4.5474 USD |
| Common | Buy Transaction | 1,524 | 4.5480 USD |
| Common | Buy Transaction | 820 | 4.5495 USD |
| Common | Buy Transaction | 32,089 | 4.5500 USD |
| Common | Buy Transaction | 610 | 4.5533 USD |
| Common | Buy Transaction | 994 | 4.5559 USD |
| Common | Buy Transaction | 2,920 | 4.5562 USD |
| Common | Buy Transaction | 583 | 4.5596 USD |
| Common | Buy Transaction | 1,804 | 4.5600 USD |
| Common | Buy Transaction | 1,797 | 4.5616 USD |
| Common | Buy Transaction | 1,133 | 4.5638 USD |
| Common | Buy Transaction | 1,617 | 4.5665 USD |
| Common | Buy Transaction | 2,368 | 4.5672 USD |
| Common | Buy Transaction | 1,728 | 4.5673 USD |
| Common | Buy Transaction | 1,700 | 4.5682 USD |
| Common | Buy Transaction | 382 | 4.5709 USD |
| Common | Buy Transaction | 1,700 | 4.5735 USD |
| Common | Buy Transaction | 2,600 | 4.5738 USD |
| Common | Buy Transaction | 1 | 4.5742 USD |
| Common | Buy Transaction | 2,285 | 4.5762 USD |
| Common | Buy Transaction | 1,607 | 4.5771 USD |
| Common | Buy Transaction | 1,710 | 4.5799 USD |
| Common | Buy Transaction | 1 | 4.5800 USD |
| Common | Buy Transaction | 240 | 4.5801 USD |
| Common | Buy Transaction | 1,800 | 4.5839 USD |
| Common | Buy Transaction | 600 | 4.5850 USD |
| Common | Buy Transaction | 869 | 4.5858 USD |
| Common | Buy Transaction | 3,461 | 4.5866 USD |
| Common | Buy Transaction | 9,835 | 4.5880 USD |
| Common | Buy Transaction | 108,103 | 4.5900 USD |
| Common | Buy Transaction | 1,430 | 4.5907 USD |
| Common | Buy Transaction | 1,500 | 4.5920 USD |
| Common | Buy Transaction | 389 | 4.5937 USD |
| Common | Buy Transaction | 500 | 4.5940 USD |
| Common | Buy Transaction | 1,430 | 4.5944 USD |
| Common | Buy Transaction | 312 | 4.5950 USD |
| Common | Buy Transaction | 5,911 | 4.5951 USD |
| Common | Buy Transaction | 22,678 | 4.5952 USD |
| Common | Buy Transaction | 5 | 4.5960 USD |
| Common | Buy Transaction | 900 | 4.5967 USD |
| Common | Buy Transaction | 923 | 4.5978 USD |
| Common | Buy Transaction | 2,000 | 4.5995 USD |
| Common | Buy Transaction | 14,553 | 4.6000 USD |
| Common | Buy Transaction | 20,000 | 4.6003 USD |
| Common | Buy Transaction | 48 | 4.6005 USD |
| Common | Buy Transaction | 4,958 | 4.6013 USD |
| Common | Buy Transaction | 345 | 4.6029 USD |
| Common | Buy Transaction | 2,810 | 4.6050 USD |
| Common | Buy Transaction | 275 | 4.6055 USD |
| Common | Buy Transaction | 29,066 | 4.6055 USD |
| Common | Buy Transaction | 1 | 4.6060 USD |
| Common | Buy Transaction | 184 | 4.6063 USD |
| Common | Buy Transaction | 1,587 | 4.6100 USD |
| Common | Buy Transaction | 14 | 4.6107 USD |
| Common | Buy Transaction | 500 | 4.6110 USD |
| Common | Buy Transaction | 1,712 | 4.6139 USD |
| Common | Buy Transaction | 3,250 | 4.6200 USD |
| Common | Buy Transaction | 1,000 | 4.6256 USD |
| Common | Buy Transaction | 76 | 4.6257 USD |
| Common | Buy Transaction | 976 | 4.6258 USD |
| Common | Buy Transaction | 100 | 4.6300 USD |
| Common | Buy Transaction | 400 | 4.6325 USD |
| Common | Buy Transaction | 300 | 4.6350 USD |
| Common | Buy Transaction | 100 | 4.6400 USD |
| Common | Buy Transaction | 400 | 4.6425 USD |
| Common | Buy Transaction | 300 | 4.6433 USD |
| Common | Buy Transaction | 11,000 | 4.6488 USD |
| Common | Buy Transaction | 700 | 4.6493 USD |
| Common | Buy Transaction | 23,820 | 4.6500 USD |
| Common | Buy Transaction | 2,938 | 4.6560 USD |
| Common | Buy Transaction | 727 | 4.6600 USD |
| Common | Buy Transaction | 500 | 4.6700 USD |
| Common | DVP Transaction | 1 | 3.8900 USD |
| Common | DVP Transaction | 30 | 4.3333 USD |
| Common | DVP Transaction | 430 | 4.4400 USD |
| Common | DVP Transaction | 1 | 4.5000 USD |
| Common | DVP Transaction | 256 | 4.5600 USD |
| Common | DVP Transaction | 1,800 | 4.5650 USD |
| Common | DVP Transaction | 10,604 | 4.5776 USD |
| Common | DVP Transaction | 1,320 | 4.5854 USD |
| Common | DVP Transaction | 104,103 | 4.5900 USD |
| Common | DVP Transaction | 3,704 | 4.6000 USD |
| Common | DVP Transaction | 17,561 | 4.6036 USD |
| Common | DVP Transaction | 1,242 | 4.6050 USD |
| Common | DVP Transaction | 56 | 4.6150 USD |
| Common | DVP Transaction | 49,649 | 4.6285 USD |
| Common | RVP Transaction | 1 | 3.8900 USD |
| Common | RVP Transaction | 10 | 4.0800 USD |
| Common | RVP Transaction | 10 | 4.4200 USD |
| Common | RVP Transaction | 430 | 4.4400 USD |
| Common | RVP Transaction | 11 | 4.5000 USD |
| Common | RVP Transaction | 300 | 4.5500 USD |
| Common | RVP Transaction | 198 | 4.5550 USD |
| Common | RVP Transaction | 356 | 4.5600 USD |
| Common | RVP Transaction | 3,392 | 4.5609 USD |
| Common | RVP Transaction | 350 | 4.5700 USD |
| Common | RVP Transaction | 600 | 4.5717 USD |
| Common | RVP Transaction | 200 | 4.5750 USD |
| Common | RVP Transaction | 1,737 | 4.5752 USD |
| Common | RVP Transaction | 2,729 | 4.5754 USD |
| Common | RVP Transaction | 300 | 4.5767 USD |
| Common | RVP Transaction | 1,504 | 4.5773 USD |
| Common | RVP Transaction | 720 | 4.5850 USD |
| Common | RVP Transaction | 1,908 | 4.5850 USD |
| Common | RVP Transaction | 104,103 | 4.5900 USD |
| Common | RVP Transaction | 2,100 | 4.5950 USD |
| Common | RVP Transaction | 1,427 | 4.5964 USD |
| Common | RVP Transaction | 600 | 4.5983 USD |
| Common | RVP Transaction | 1,510 | 4.5990 USD |
| Common | RVP Transaction | 15,553 | 4.6000 USD |
| Common | RVP Transaction | 4,946 | 4.6013 USD |
| Common | RVP Transaction | 696 | 4.6065 USD |
| Common | RVP Transaction | 10,924 | 4.6137 USD |
| Common | RVP Transaction | 46 | 4.6150 USD |
| Common | RVP Transaction | 5,013 | 4.6156 USD |
| Common | RVP Transaction | 200 | 4.6225 USD |
| Common | RVP Transaction | 100 | 4.6300 USD |
| Common | RVP Transaction | 5,300 | 4.6405 USD |
| Common | RVP Transaction | 5,600 | 4.6441 USD |
| Common | RVP Transaction | 100 | 4.6450 USD |
| Common | RVP Transaction | 7,414 | 4.6453 USD |
| Common | RVP Transaction | 10,369 | 4.6500 USD |
| Common | Sell Transaction | 101 | 4.4203 USD |
| Common | Sell Transaction | 100 | 4.4300 USD |
| Common | Sell Transaction | 3,275 | 4.4332 USD |
| Common | Sell Transaction | 3,900 | 4.4350 USD |
| Common | Sell Transaction | 1,197 | 4.4367 USD |
| Common | Sell Transaction | 2,955 | 4.4384 USD |
| Common | Sell Transaction | 895 | 4.4391 USD |
| Common | Sell Transaction | 288 | 4.4392 USD |
| Common | Sell Transaction | 378 | 4.4400 USD |
| Common | Sell Transaction | 94 | 4.4440 USD |
| Common | Sell Transaction | 30,767 | 4.4449 USD |
| Common | Sell Transaction | 43 | 4.4458 USD |
| Common | Sell Transaction | 16 | 4.4481 USD |
| Common | Sell Transaction | 8,025 | 4.4500 USD |
| Common | Sell Transaction | 1,292 | 4.4530 USD |
| Common | Sell Transaction | 26 | 4.4531 USD |
| Common | Sell Transaction | 770 | 4.4547 USD |
| Common | Sell Transaction | 1,197 | 4.4550 USD |
| Common | Sell Transaction | 9 | 4.4556 USD |
| Common | Sell Transaction | 1,200 | 4.4567 USD |
| Common | Sell Transaction | 4,349 | 4.4592 USD |
| Common | Sell Transaction | 211 | 4.4594 USD |
| Common | Sell Transaction | 3,027 | 4.4600 USD |
| Common | Sell Transaction | 200 | 4.4650 USD |
| Common | Sell Transaction | 400 | 4.4675 USD |
| Common | Sell Transaction | 1,238 | 4.4679 USD |
| Common | Sell Transaction | 372 | 4.4709 USD |
| Common | Sell Transaction | 997 | 4.4739 USD |
| Common | Sell Transaction | 2,390 | 4.4745 USD |
| Common | Sell Transaction | 507 | 4.4783 USD |
| Common | Sell Transaction | 1,078 | 4.4800 USD |
| Common | Sell Transaction | 752 | 4.4812 USD |
| Common | Sell Transaction | 800 | 4.4813 USD |
| Common | Sell Transaction | 1,206 | 4.4819 USD |
| Common | Sell Transaction | 120 | 4.4853 USD |
| Common | Sell Transaction | 824 | 4.4853 USD |
| Common | Sell Transaction | 394 | 4.4895 USD |
| Common | Sell Transaction | 211 | 4.4898 USD |
| Common | Sell Transaction | 785 | 4.4900 USD |
| Common | Sell Transaction | 26 | 4.4908 USD |
| Common | Sell Transaction | 856 | 4.4920 USD |
| Common | Sell Transaction | 400 | 4.4925 USD |
| Common | Sell Transaction | 700 | 4.4929 USD |
| Common | Sell Transaction | 250 | 4.4956 USD |
| Common | Sell Transaction | 700 | 4.4957 USD |
| Common | Sell Transaction | 3,601 | 4.4967 USD |
| Common | Sell Transaction | 1,190 | 4.4972 USD |
| Common | Sell Transaction | 11,427 | 4.5000 USD |
| Common | Sell Transaction | 605 | 4.5047 USD |
| Common | Sell Transaction | 1,506 | 4.5050 USD |
| Common | Sell Transaction | 1,832 | 4.5067 USD |
| Common | Sell Transaction | 152 | 4.5082 USD |
| Common | Sell Transaction | 136 | 4.5088 USD |
| Common | Sell Transaction | 215 | 4.5090 USD |
| Common | Sell Transaction | 819 | 4.5098 USD |
| Common | Sell Transaction | 1,301 | 4.5100 USD |
| Common | Sell Transaction | 1,804 | 4.5124 USD |
| Common | Sell Transaction | 500 | 4.5140 USD |
| Common | Sell Transaction | 147 | 4.5144 USD |
| Common | Sell Transaction | 760 | 4.5200 USD |
| Common | Sell Transaction | 8,795 | 4.5202 USD |
| Common | Sell Transaction | 400 | 4.5208 USD |
| Common | Sell Transaction | 166 | 4.5215 USD |
| Common | Sell Transaction | 300 | 4.5217 USD |
| Common | Sell Transaction | 300 | 4.5233 USD |
| Common | Sell Transaction | 531 | 4.5255 USD |
| Common | Sell Transaction | 1,000 | 4.5270 USD |
| Common | Sell Transaction | 218 | 4.5272 USD |
| Common | Sell Transaction | 23,381 | 4.5300 USD |
| Common | Sell Transaction | 950 | 4.5300 USD |
| Common | Sell Transaction | 3,568 | 4.5311 USD |
| Common | Sell Transaction | 968 | 4.5329 USD |
| Common | Sell Transaction | 519 | 4.5365 USD |
| Common | Sell Transaction | 740 | 4.5367 USD |
| Common | Sell Transaction | 1,000 | 4.5380 USD |
| Common | Sell Transaction | 278 | 4.5400 USD |
| Common | Sell Transaction | 47 | 4.5402 USD |
| Common | Sell Transaction | 3,000 | 4.5450 USD |
| Common | Sell Transaction | 991 | 4.5473 USD |
| Common | Sell Transaction | 345 | 4.5476 USD |
| Common | Sell Transaction | 500 | 4.5480 USD |
| Common | Sell Transaction | 1,248 | 4.5500 USD |
| Common | Sell Transaction | 693 | 4.5541 USD |
| Common | Sell Transaction | 810 | 4.5554 USD |
| Common | Sell Transaction | 3,019 | 4.5564 USD |
| Common | Sell Transaction | 1,749 | 4.5568 USD |
| Common | Sell Transaction | 35,003 | 4.5578 USD |
| Common | Sell Transaction | 486 | 4.5579 USD |
| Common | Sell Transaction | 130 | 4.5589 USD |
| Common | Sell Transaction | 2,113 | 4.5600 USD |
| Common | Sell Transaction | 900 | 4.5611 USD |
| Common | Sell Transaction | 700 | 4.5614 USD |
| Common | Sell Transaction | 247 | 4.5649 USD |
| Common | Sell Transaction | 1,350 | 4.5650 USD |
| Common | Sell Transaction | 596 | 4.5668 USD |
| Common | Sell Transaction | 4,325 | 4.5675 USD |
| Common | Sell Transaction | 400 | 4.5675 USD |
| Common | Sell Transaction | 650 | 4.5685 USD |
| Common | Sell Transaction | 60,203 | 4.5693 USD |
| Common | Sell Transaction | 389 | 4.5700 USD |
| Common | Sell Transaction | 8,200 | 4.5707 USD |
| Common | Sell Transaction | 8,718 | 4.5721 USD |
| Common | Sell Transaction | 893 | 4.5735 USD |
| Common | Sell Transaction | 38,805 | 4.5743 USD |
| Common | Sell Transaction | 53 | 4.5751 USD |
| Common | Sell Transaction | 3,965 | 4.5754 USD |
| Common | Sell Transaction | 427 | 4.5769 USD |
| Common | Sell Transaction | 7,030 | 4.5769 USD |
| Common | Sell Transaction | 6,534 | 4.5770 USD |
| Common | Sell Transaction | 2,200 | 4.5773 USD |
| Common | Sell Transaction | 4,106 | 4.5797 USD |
| Common | Sell Transaction | 22,313 | 4.5800 USD |
| Common | Sell Transaction | 600 | 4.5800 USD |
| Common | Sell Transaction | 985 | 4.5804 USD |
| Common | Sell Transaction | 36 | 4.5806 USD |
| Common | Sell Transaction | 3,400 | 4.5815 USD |
| Common | Sell Transaction | 4,396 | 4.5820 USD |
| Common | Sell Transaction | 28,186 | 4.5822 USD |
| Common | Sell Transaction | 1 | 4.5842 USD |
| Common | Sell Transaction | 4,772 | 4.5847 USD |
| Common | Sell Transaction | 1,500 | 4.5847 USD |
| Common | Sell Transaction | 500 | 4.5860 USD |
| Common | Sell Transaction | 265 | 4.5864 USD |
| Common | Sell Transaction | 891 | 4.5865 USD |
| Common | Sell Transaction | 309 | 4.5890 USD |
| Common | Sell Transaction | 3,105 | 4.5899 USD |
| Common | Sell Transaction | 109,304 | 4.5900 USD |
| Common | Sell Transaction | 1,898 | 4.5901 USD |
| Common | Sell Transaction | 510 | 4.5901 USD |
| Common | Sell Transaction | 94 | 4.5904 USD |
| Common | Sell Transaction | 968 | 4.5935 USD |
| Common | Sell Transaction | 1,700 | 4.5941 USD |
| Common | Sell Transaction | 1,400 | 4.5950 USD |
| Common | Sell Transaction | 4,027 | 4.5953 USD |
| Common | Sell Transaction | 1,207 | 4.5957 USD |
| Common | Sell Transaction | 2,218 | 4.5961 USD |
| Common | Sell Transaction | 7,682 | 4.5974 USD |
| Common | Sell Transaction | 620 | 4.5988 USD |
| Common | Sell Transaction | 500 | 4.5990 USD |
| Common | Sell Transaction | 51 | 4.5990 USD |
| Common | Sell Transaction | 2,917 | 4.5993 USD |
| Common | Sell Transaction | 1,400 | 4.5993 USD |
| Common | Sell Transaction | 1,414 | 4.5996 USD |
| Common | Sell Transaction | 103 | 4.5998 USD |
| Common | Sell Transaction | 2,600 | 4.5998 USD |
| Common | Sell Transaction | 158 | 4.5998 USD |
| Common | Sell Transaction | 27,458 | 4.6000 USD |
| Common | Sell Transaction | 917 | 4.6002 USD |
| Common | Sell Transaction | 5,034 | 4.6004 USD |
| Common | Sell Transaction | 24 | 4.6005 USD |
| Common | Sell Transaction | 19 | 4.6005 USD |
| Common | Sell Transaction | 4,958 | 4.6013 USD |
| Common | Sell Transaction | 337 | 4.6019 USD |
| Common | Sell Transaction | 493 | 4.6022 USD |
| Common | Sell Transaction | 741 | 4.6024 USD |
| Common | Sell Transaction | 5,700 | 4.6025 USD |
| Common | Sell Transaction | 600 | 4.6025 USD |
| Common | Sell Transaction | 7,414 | 4.6029 USD |
| Common | Sell Transaction | 155 | 4.6030 USD |
| Common | Sell Transaction | 1,641 | 4.6034 USD |
| Common | Sell Transaction | 1,399 | 4.6038 USD |
| Common | Sell Transaction | 173 | 4.6041 USD |
| Common | Sell Transaction | 414 | 4.6043 USD |
| Common | Sell Transaction | 190 | 4.6044 USD |
| Common | Sell Transaction | 105 | 4.6045 USD |
| Common | Sell Transaction | 2,144 | 4.6050 USD |
| Common | Sell Transaction | 1,330 | 4.6050 USD |
| Common | Sell Transaction | 2,955 | 4.6050 USD |
| Common | Sell Transaction | 409 | 4.6053 USD |
| Common | Sell Transaction | 2,129 | 4.6053 USD |
| Common | Sell Transaction | 1,353 | 4.6053 USD |
| Common | Sell Transaction | 10,218 | 4.6054 USD |
| Common | Sell Transaction | 1,300 | 4.6058 USD |
| Common | Sell Transaction | 6,600 | 4.6061 USD |
| Common | Sell Transaction | 1,765 | 4.6063 USD |
| Common | Sell Transaction | 3,773 | 4.6066 USD |
| Common | Sell Transaction | 484 | 4.6080 USD |
| Common | Sell Transaction | 544 | 4.6087 USD |
| Common | Sell Transaction | 4,649 | 4.6088 USD |
| Common | Sell Transaction | 4,929 | 4.6088 USD |
| Common | Sell Transaction | 2,007 | 4.6091 USD |
| Common | Sell Transaction | 13,166 | 4.6092 USD |
| Common | Sell Transaction | 714 | 4.6092 USD |
| Common | Sell Transaction | 1,410 | 4.6093 USD |
| Common | Sell Transaction | 6,124 | 4.6100 USD |
| Common | Sell Transaction | 1,201 | 4.6100 USD |
| Common | Sell Transaction | 657 | 4.6101 USD |
| Common | Sell Transaction | 2,972 | 4.6123 USD |
| Common | Sell Transaction | 375 | 4.6147 USD |
| Common | Sell Transaction | 3,300 | 4.6150 USD |
| Common | Sell Transaction | 702 | 4.6172 USD |
| Common | Sell Transaction | 1,400 | 4.6218 USD |
| Common | Sell Transaction | 111 | 4.6300 USD |
| Common | Sell Transaction | 1,241 | 4.6369 USD |
| Common | Sell Transaction | 11 | 4.6609 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 | 2,100 | 4.4327 USD |
| Common | CFD | Increasing long position | 8,118 | 4.5240 USD |
| Common | CFD | Increasing long position | 31,216 | 4.5762 USD |
| Common | CFD | Increasing long position | 100 | 4.6400 USD |
| Common | CFD | Increasing long position | 3,000 | 4.6413 USD |
| Common | CFD | Increasing long position | 400 | 4.6450 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 | 1 | 5.0000 USD | American | 2025-Jun-20 | 0.1500 USD |
| Common | Call Option | Buy Transaction | 4 | 5.0000 USD | American | 2025-Jun-20 | 0.1700 USD |
| Common | Call Option | Buy Transaction | 1 | 7.0000 USD | American | 2025-Oct-17 | 0.1700 USD |
| Common | Call Option | Buy Transaction | 1 | 5.0000 USD | American | 2025-Jun-20 | 0.1900 USD |
| Common | Call Option | Buy Transaction | 3 | 5.0000 USD | American | 2025-Jul-18 | 0.3000 USD |
| Common | Call Option | Buy Transaction | 4 | 5.0000 USD | American | 2025-Jul-18 | 0.3200 USD |
| Common | Call Option | Buy Transaction | 3 | 4.0000 USD | American | 2025-May-16 | 0.5800 USD |
| Common | Call Option | Buy Transaction | 3 | 5.0000 USD | American | 2025-Oct-17 | 0.6000 USD |
| Common | Call Option | Buy Transaction | 3 | 4.0000 USD | American | 2025-Jul-18 | 0.6500 USD |
| Common | Call Option | Buy Transaction | 1 | 5.0000 USD | American | 2026-Jan-16 | 0.7500 USD |
| Common | Call Option | Buy Transaction | 1 | 4.0000 USD | American | 2025-Oct-17 | 1.0000 USD |
| Common | Put Option | DVP Transaction | 40 | 4.0000 USD | American | 2025-May-16 | 0.0500 USD |
| Common | Call Option | DVP Transaction | 2 | 6.0000 USD | American | 2025-Jul-18 | 0.1000 USD |
| Common | Call Option | DVP Transaction | 2 | 5.0000 USD | American | 2025-Jun-20 | 0.1500 USD |
| Common | Call Option | DVP Transaction | 1 | 7.0000 USD | American | 2025-Oct-17 | 0.1700 USD |
| Common | Call Option | DVP Transaction | 9 | 5.0000 USD | American | 2025-Jun-20 | 0.1722 USD |
| Common | Call Option | DVP Transaction | 5 | 5.0000 USD | American | 2025-Jul-18 | 0.3000 USD |
| Common | Call Option | DVP Transaction | 3 | 6.0000 USD | American | 2025-Oct-17 | 0.3400 USD |
| Common | Call Option | DVP Transaction | 34 | 5.0000 USD | American | 2025-Jul-18 | 0.3465 USD |
| Common | Call Option | DVP Transaction | 3 | 5.0000 USD | American | 2025-Jul-18 | 0.3500 USD |
| Common | Call Option | DVP Transaction | 4 | 5.0000 USD | American | 2025-Oct-17 | 0.5875 USD |
| Common | Call Option | DVP Transaction | 6 | 4.0000 USD | American | 2025-May-16 | 0.6000 USD |
| Common | Call Option | DVP Transaction | 6 | 4.0000 USD | American | 2025-May-16 | 0.6300 USD |
| Common | Call Option | DVP Transaction | 3 | 4.0000 USD | American | 2025-Jul-18 | 0.6500 USD |
| Common | Call Option | DVP Transaction | 10 | 4.0000 USD | American | 2025-May-16 | 0.6500 USD |
| Common | Call Option | DVP Transaction | 5 | 4.0000 USD | American | 2025-Jul-18 | 0.8100 USD |
| Common | Call Option | DVP Transaction | 10 | 4.0000 USD | American | 2025-Oct-17 | 0.9700 USD |
| Common | Call Option | DVP Transaction | 1 | 4.0000 USD | American | 2025-Oct-17 | 1.0000 USD |
| Common | Call Option | DVP Transaction | 2 | 4.0000 USD | American | 2026-Jul-17 | 1.5100 USD |
| Common | Put Option | RVP Transaction | 40 | 4.0000 USD | American | 2025-May-16 | 0.0500 USD |
| Common | Call Option | RVP Transaction | 2 | 6.0000 USD | American | 2025-Jul-18 | 0.1000 USD |
| Common | Call Option | RVP Transaction | 11 | 5.0000 USD | American | 2025-Jun-20 | 0.1682 USD |
| Common | Call Option | RVP Transaction | 1 | 7.0000 USD | American | 2025-Oct-17 | 0.1700 USD |
| Common | Call Option | RVP Transaction | 3 | 6.0000 USD | American | 2025-Oct-17 | 0.3400 USD |
| Common | Call Option | RVP Transaction | 39 | 5.0000 USD | American | 2025-Jul-18 | 0.3405 USD |
| Common | Call Option | RVP Transaction | 3 | 5.0000 USD | American | 2025-Jul-18 | 0.3500 USD |
| Common | Call Option | RVP Transaction | 1 | 5.0000 USD | American | 2025-Oct-17 | 0.5500 USD |
| Common | Call Option | RVP Transaction | 3 | 5.0000 USD | American | 2025-Oct-17 | 0.6000 USD |
| Common | Call Option | RVP Transaction | 4 | 4.0000 USD | American | 2025-May-16 | 0.6000 USD |
| Common | Call Option | RVP Transaction | 8 | 4.0000 USD | American | 2025-May-16 | 0.6225 USD |
| Common | Call Option | RVP Transaction | 3 | 4.0000 USD | American | 2025-Jul-18 | 0.6500 USD |
| Common | Call Option | RVP Transaction | 10 | 4.0000 USD | American | 2025-May-16 | 0.6500 USD |
| Common | Call Option | RVP Transaction | 5 | 4.0000 USD | American | 2025-Jul-18 | 0.8100 USD |
| Common | Call Option | RVP Transaction | 10 | 4.0000 USD | American | 2025-Oct-17 | 0.9700 USD |
| Common | Call Option | RVP Transaction | 1 | 4.0000 USD | American | 2025-Oct-17 | 1.0000 USD |
| Common | Call Option | RVP Transaction | 2 | 4.0000 USD | American | 2026-Jul-17 | 1.5100 USD |
| Common | Call Option | Sell Transaction | 2 | 6.0000 USD | American | 2025-Jul-18 | 0.1000 USD |
| Common | Put Option | Sell Transaction | 60 | 4.0000 USD | American | 2025-Jun-20 | 0.1500 USD |
| Common | Call Option | Sell Transaction | 19 | 5.0000 USD | American | 2025-Jul-18 | 0.3500 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: | 13 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 | -700 | 7.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 5,100 | 4.0 USD
| American
| 16/05/2025
|
| Common | Call Option | Purchased | 600,000 | 6.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 300 | 8.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Purchased | 7,200 | 4.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Purchased | -900 | 5.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Purchased | 1,000,000 | 5.0 USD
| American
| 20/06/2025
|
| Common | Put Option | Purchased | -600 | 4.0 USD
| American
| 16/05/2025
|
| Common | Put Option | Purchased | -500 | 3.0 USD
| American
| 16/05/2025
|
| Common | Call Option | Purchased | 12,300 | 3.0 USD
| American
| 16/05/2025
|
| Common | Put Option | Purchased | -8,500 | 5.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Purchased | 9,200 | 5.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Purchased | -300 | 5.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Purchased | -1,400 | 4.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Purchased | 2,600 | 10.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Purchased | 1,000 | 3.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 2,000 | 7.0 USD
| American
| 20/06/2025
|
| Common | Put Option | Purchased | -5,800 | 4.0 USD
| American
| 18/07/2025
|
| Common | Put Option | Purchased | -3,400 | 4.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Purchased | 700 | 10.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 245,600 | 6.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 300 | 2.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Purchased | -1,400 | 5.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Purchased | 600 | 6.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Purchased | -2,300 | 5.0 USD
| American
| 16/05/2025
|
| Common | Put Option | Purchased | -13,000 | 3.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -92,700 | 5.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Sold | -36,200 | 5.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -29,400 | 8.0 USD
| American
| 18/07/2025
|
| Common | Put Option | Sold | 100 | 3.0 USD
| American
| 20/06/2025
|
| Common | Put Option | Sold | 100 | 5.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -8,800 | 4.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -2,500 | 4.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -2,000 | 3.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Sold | -200 | 3.0 USD
| American
| 20/06/2025
|
| Common | Put Option | Sold | 99,900 | 8.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -100 | 2.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -200 | 15.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -1,000 | 5.0 USD
| American
| 16/05/2025
|
| Common | Call Option | Sold | -608,000 | 5.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -800 | 12.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -1,400 | 3.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -800 | 6.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -118,400 | 7.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -200 | 7.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -900 | 6.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -500 | 4.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -2,500 | 4.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -3,500 | 5.0 USD
| American
| 20/06/2025
|
| Common | Call Option | Sold | -3,400 | 10.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -400 | 3.0 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.
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