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 | 20 June 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: | 1,760,943 | 1.48 | 177,583 | 0.14 |
| (2) Cash-settled derivatives:
| 454,930 | 0.38 | 0 | 0.00 |
| (3) Stock-settled derivatives (including options) and agreements to purchase/sell: | 979,000 | 0.82 | 1,177,000 | 0.99 |
|
TOTAL: | 3,194,873 | 2.69 | 1,354,583 | 1.14 |
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 | 15 | 4.1200 USD |
| Common | Buy Transaction | 4,994 | 4.1300 USD |
| Common | Buy Transaction | 9,688 | 4.1375 USD |
| Common | Buy Transaction | 1,270 | 4.1400 USD |
| Common | Buy Transaction | 1,870 | 4.1439 USD |
| Common | Buy Transaction | 6 | 4.1450 USD |
| Common | Buy Transaction | 5,124 | 4.1471 USD |
| Common | Buy Transaction | 654 | 4.1499 USD |
| Common | Buy Transaction | 224 | 4.1500 USD |
| Common | Buy Transaction | 1,200 | 4.1517 USD |
| Common | Buy Transaction | 400 | 4.1525 USD |
| Common | Buy Transaction | 2,500 | 4.1532 USD |
| Common | Buy Transaction | 2,088 | 4.1538 USD |
| Common | Buy Transaction | 19,552 | 4.1547 USD |
| Common | Buy Transaction | 612 | 4.1569 USD |
| Common | Buy Transaction | 1,895 | 4.1573 USD |
| Common | Buy Transaction | 5,300 | 4.1600 USD |
| Common | Buy Transaction | 370 | 4.1602 USD |
| Common | Buy Transaction | 7,091 | 4.1628 USD |
| Common | Buy Transaction | 4,336 | 4.1631 USD |
| Common | Buy Transaction | 5,800 | 4.1650 USD |
| Common | Buy Transaction | 51,292 | 4.1651 USD |
| Common | Buy Transaction | 104,814 | 4.1652 USD |
| Common | Buy Transaction | 3,011 | 4.1686 USD |
| Common | Buy Transaction | 1,332 | 4.1700 USD |
| Common | Buy Transaction | 24,554 | 4.1747 USD |
| Common | Buy Transaction | 1,108 | 4.1763 USD |
| Common | Buy Transaction | 3,356 | 4.1778 USD |
| Common | Buy Transaction | 1,002 | 4.1789 USD |
| Common | Buy Transaction | 25,232 | 4.1800 USD |
| Common | Buy Transaction | 10,148 | 4.1801 USD |
| Common | Buy Transaction | 717 | 4.1816 USD |
| Common | Buy Transaction | 10,720 | 4.1850 USD |
| Common | Buy Transaction | 2,100 | 4.1862 USD |
| Common | Buy Transaction | 40 | 4.1863 USD |
| Common | Buy Transaction | 1,525 | 4.1869 USD |
| Common | Buy Transaction | 1,300 | 4.1869 USD |
| Common | Buy Transaction | 5,489 | 4.1870 USD |
| Common | Buy Transaction | 1,000 | 4.1870 USD |
| Common | Buy Transaction | 4,057 | 4.1874 USD |
| Common | Buy Transaction | 284 | 4.1890 USD |
| Common | Buy Transaction | 1,600 | 4.1894 USD |
| Common | Buy Transaction | 8,273 | 4.1900 USD |
| Common | Buy Transaction | 395 | 4.1907 USD |
| Common | Buy Transaction | 3,707 | 4.1908 USD |
| Common | Buy Transaction | 2,958 | 4.1908 USD |
| Common | Buy Transaction | 89 | 4.1909 USD |
| Common | Buy Transaction | 3,200 | 4.1928 USD |
| Common | Buy Transaction | 7,439 | 4.1929 USD |
| Common | Buy Transaction | 14,846 | 4.1933 USD |
| Common | Buy Transaction | 404 | 4.1935 USD |
| Common | Buy Transaction | 405 | 4.1944 USD |
| Common | Buy Transaction | 4,366 | 4.1950 USD |
| Common | Buy Transaction | 675 | 4.1958 USD |
| Common | Buy Transaction | 2,137 | 4.1974 USD |
| Common | Buy Transaction | 2,571 | 4.1975 USD |
| Common | Buy Transaction | 1,300 | 4.1985 USD |
| Common | Buy Transaction | 3,566 | 4.1995 USD |
| Common | Buy Transaction | 1,002 | 4.1997 USD |
| Common | Buy Transaction | 42,319 | 4.2000 USD |
| Common | Buy Transaction | 19,974 | 4.2002 USD |
| Common | Buy Transaction | 551 | 4.2008 USD |
| Common | Buy Transaction | 500 | 4.2020 USD |
| Common | Buy Transaction | 3,300 | 4.2021 USD |
| Common | Buy Transaction | 1,369 | 4.2023 USD |
| Common | Buy Transaction | 1 | 4.2028 USD |
| Common | Buy Transaction | 822 | 4.2030 USD |
| Common | Buy Transaction | 381 | 4.2047 USD |
| Common | Buy Transaction | 1,568 | 4.2048 USD |
| Common | Buy Transaction | 400 | 4.2050 USD |
| Common | Buy Transaction | 1,013 | 4.2052 USD |
| Common | Buy Transaction | 600 | 4.2055 USD |
| Common | Buy Transaction | 700 | 4.2057 USD |
| Common | Buy Transaction | 1,630 | 4.2076 USD |
| Common | Buy Transaction | 775 | 4.2089 USD |
| Common | Buy Transaction | 1,940 | 4.2094 USD |
| Common | Buy Transaction | 3,615 | 4.2095 USD |
| Common | Buy Transaction | 423 | 4.2097 USD |
| Common | Buy Transaction | 2,077 | 4.2100 USD |
| Common | Buy Transaction | 1,574 | 4.2107 USD |
| Common | Buy Transaction | 3,779 | 4.2110 USD |
| Common | Buy Transaction | 700 | 4.2114 USD |
| Common | Buy Transaction | 400 | 4.2125 USD |
| Common | Buy Transaction | 500 | 4.2130 USD |
| Common | Buy Transaction | 842 | 4.2130 USD |
| Common | Buy Transaction | 860 | 4.2130 USD |
| Common | Buy Transaction | 1,005 | 4.2135 USD |
| Common | Buy Transaction | 2,511 | 4.2140 USD |
| Common | Buy Transaction | 10 | 4.2150 USD |
| Common | Buy Transaction | 1,744 | 4.2162 USD |
| Common | Buy Transaction | 800 | 4.2162 USD |
| Common | Buy Transaction | 527 | 4.2191 USD |
| Common | Buy Transaction | 1,560 | 4.2192 USD |
| Common | Buy Transaction | 1,967 | 4.2200 USD |
| Common | Buy Transaction | 328 | 4.2204 USD |
| Common | Buy Transaction | 2,578 | 4.2207 USD |
| Common | Buy Transaction | 48 | 4.2208 USD |
| Common | Buy Transaction | 600 | 4.2210 USD |
| Common | Buy Transaction | 800 | 4.2213 USD |
| Common | Buy Transaction | 164 | 4.2220 USD |
| Common | Buy Transaction | 119 | 4.2220 USD |
| Common | Buy Transaction | 400 | 4.2225 USD |
| Common | Buy Transaction | 200 | 4.2250 USD |
| Common | Buy Transaction | 1,100 | 4.2273 USD |
| Common | Buy Transaction | 100 | 4.2300 USD |
| Common | Buy Transaction | 1 | 4.2304 USD |
| Common | Buy Transaction | 600 | 4.2317 USD |
| Common | Buy Transaction | 579 | 4.2321 USD |
| Common | Buy Transaction | 143 | 4.2655 USD |
| Common | Buy Transaction | 100 | 4.2700 USD |
| Common | Buy Transaction | 459 | 4.2778 USD |
| Common | Buy Transaction | 407 | 4.2900 USD |
| Common | Buy Transaction | 50 | 4.3000 USD |
| Common | Buy Transaction | 2,674 | 4.3300 USD |
| Common | DVP Transaction | 200 | 4.1200 USD |
| Common | DVP Transaction | 350 | 4.1250 USD |
| Common | DVP Transaction | 70 | 4.1300 USD |
| Common | DVP Transaction | 140 | 4.1350 USD |
| Common | DVP Transaction | 100 | 4.1400 USD |
| Common | DVP Transaction | 240 | 4.1500 USD |
| Common | DVP Transaction | 250 | 4.1550 USD |
| Common | DVP Transaction | 429 | 4.1600 USD |
| Common | DVP Transaction | 970 | 4.1650 USD |
| Common | DVP Transaction | 940 | 4.1700 USD |
| Common | DVP Transaction | 1,460 | 4.1750 USD |
| Common | DVP Transaction | 371 | 4.1800 USD |
| Common | DVP Transaction | 960 | 4.1850 USD |
| Common | DVP Transaction | 39 | 4.1851 USD |
| Common | DVP Transaction | 1,777,134 | 4.1900 USD |
| Common | DVP Transaction | 1,230,000 | 4.1901 USD |
| Common | DVP Transaction | 271 | 4.1906 USD |
| Common | DVP Transaction | 136 | 4.1938 USD |
| Common | DVP Transaction | 1,804 | 4.1950 USD |
| Common | DVP Transaction | 1,932 | 4.1983 USD |
| Common | DVP Transaction | 34,306 | 4.2000 USD |
| Common | DVP Transaction | 1,870 | 4.2050 USD |
| Common | DVP Transaction | 230 | 4.2053 USD |
| Common | DVP Transaction | 168 | 4.2096 USD |
| Common | DVP Transaction | 776 | 4.2100 USD |
| Common | DVP Transaction | 1,494 | 4.2150 USD |
| Common | DVP Transaction | 49 | 4.2151 USD |
| Common | DVP Transaction | 15 | 4.2160 USD |
| Common | DVP Transaction | 900 | 4.2200 USD |
| Common | DVP Transaction | 1,146 | 4.2250 USD |
| Common | DVP Transaction | 100 | 4.2350 USD |
| Common | DVP Transaction | 218 | 4.2592 USD |
| Common | DVP Transaction | 100 | 4.3000 USD |
| Common | DVP Transaction | 72 | 4.3183 USD |
| Common | DVP Transaction | 10,825 | 4.3300 USD |
| Common | RVP Transaction | 296 | 4.1200 USD |
| Common | RVP Transaction | 450 | 4.1250 USD |
| Common | RVP Transaction | 70 | 4.1300 USD |
| Common | RVP Transaction | 140 | 4.1350 USD |
| Common | RVP Transaction | 100 | 4.1400 USD |
| Common | RVP Transaction | 240 | 4.1500 USD |
| Common | RVP Transaction | 250 | 4.1550 USD |
| Common | RVP Transaction | 429 | 4.1600 USD |
| Common | RVP Transaction | 1,190 | 4.1650 USD |
| Common | RVP Transaction | 1,140 | 4.1700 USD |
| Common | RVP Transaction | 2,130 | 4.1749 USD |
| Common | RVP Transaction | 1,580 | 4.1750 USD |
| Common | RVP Transaction | 324 | 4.1794 USD |
| Common | RVP Transaction | 501 | 4.1800 USD |
| Common | RVP Transaction | 694 | 4.1812 USD |
| Common | RVP Transaction | 634 | 4.1821 USD |
| Common | RVP Transaction | 900 | 4.1828 USD |
| Common | RVP Transaction | 1,319 | 4.1850 USD |
| Common | RVP Transaction | 486 | 4.1855 USD |
| Common | RVP Transaction | 1,786 | 4.1859 USD |
| Common | RVP Transaction | 1,776,837 | 4.1900 USD |
| Common | RVP Transaction | 620 | 4.1901 USD |
| Common | RVP Transaction | 1,213,529 | 4.1904 USD |
| Common | RVP Transaction | 329 | 4.1945 USD |
| Common | RVP Transaction | 3,558 | 4.1950 USD |
| Common | RVP Transaction | 809 | 4.1954 USD |
| Common | RVP Transaction | 3,630 | 4.1956 USD |
| Common | RVP Transaction | 1,317 | 4.1986 USD |
| Common | RVP Transaction | 35,522 | 4.2000 USD |
| Common | RVP Transaction | 1,050 | 4.2024 USD |
| Common | RVP Transaction | 502 | 4.2030 USD |
| Common | RVP Transaction | 2,650 | 4.2050 USD |
| Common | RVP Transaction | 216 | 4.2089 USD |
| Common | RVP Transaction | 776 | 4.2100 USD |
| Common | RVP Transaction | 1,658 | 4.2150 USD |
| Common | RVP Transaction | 1,600 | 4.2200 USD |
| Common | RVP Transaction | 300 | 4.2217 USD |
| Common | RVP Transaction | 1,800 | 4.2250 USD |
| Common | RVP Transaction | 100 | 4.2350 USD |
| Common | RVP Transaction | 100 | 4.2450 USD |
| Common | RVP Transaction | 216 | 4.2585 USD |
| Common | RVP Transaction | 192 | 4.2600 USD |
| Common | RVP Transaction | 32 | 4.2850 USD |
| Common | RVP Transaction | 7,997 | 4.3186 USD |
| Common | RVP Transaction | 66 | 4.3300 USD |
| Common | Sell Transaction | 615 | 4.1200 USD |
| Common | Sell Transaction | 600 | 4.1267 USD |
| Common | Sell Transaction | 13,603 | 4.1280 USD |
| Common | Sell Transaction | 900 | 4.1289 USD |
| Common | Sell Transaction | 1,096 | 4.1300 USD |
| Common | Sell Transaction | 14,700 | 4.1321 USD |
| Common | Sell Transaction | 400 | 4.1325 USD |
| Common | Sell Transaction | 251 | 4.1340 USD |
| Common | Sell Transaction | 6,600 | 4.1344 USD |
| Common | Sell Transaction | 1,000 | 4.1350 USD |
| Common | Sell Transaction | 1,500 | 4.1360 USD |
| Common | Sell Transaction | 1,700 | 4.1365 USD |
| Common | Sell Transaction | 2,409 | 4.1400 USD |
| Common | Sell Transaction | 1,201 | 4.1444 USD |
| Common | Sell Transaction | 1,200 | 4.1450 USD |
| Common | Sell Transaction | 689 | 4.1450 USD |
| Common | Sell Transaction | 243 | 4.1450 USD |
| Common | Sell Transaction | 317 | 4.1454 USD |
| Common | Sell Transaction | 654 | 4.1499 USD |
| Common | Sell Transaction | 654 | 4.1499 USD |
| Common | Sell Transaction | 1,407 | 4.1500 USD |
| Common | Sell Transaction | 24,865 | 4.1583 USD |
| Common | Sell Transaction | 6,702 | 4.1600 USD |
| Common | Sell Transaction | 364 | 4.1601 USD |
| Common | Sell Transaction | 1,591 | 4.1615 USD |
| Common | Sell Transaction | 14,844 | 4.1618 USD |
| Common | Sell Transaction | 120 | 4.1650 USD |
| Common | Sell Transaction | 1,258 | 4.1665 USD |
| Common | Sell Transaction | 111 | 4.1676 USD |
| Common | Sell Transaction | 97,663 | 4.1689 USD |
| Common | Sell Transaction | 914 | 4.1692 USD |
| Common | Sell Transaction | 3,951 | 4.1700 USD |
| Common | Sell Transaction | 3,208 | 4.1700 USD |
| Common | Sell Transaction | 8,651 | 4.1725 USD |
| Common | Sell Transaction | 265 | 4.1728 USD |
| Common | Sell Transaction | 120 | 4.1750 USD |
| Common | Sell Transaction | 120 | 4.1763 USD |
| Common | Sell Transaction | 3,550 | 4.1787 USD |
| Common | Sell Transaction | 792 | 4.1800 USD |
| Common | Sell Transaction | 2,400 | 4.1804 USD |
| Common | Sell Transaction | 1,147 | 4.1817 USD |
| Common | Sell Transaction | 2,451 | 4.1824 USD |
| Common | Sell Transaction | 1,400 | 4.1836 USD |
| Common | Sell Transaction | 12,815 | 4.1838 USD |
| Common | Sell Transaction | 2,248 | 4.1840 USD |
| Common | Sell Transaction | 689 | 4.1844 USD |
| Common | Sell Transaction | 740 | 4.1846 USD |
| Common | Sell Transaction | 320 | 4.1850 USD |
| Common | Sell Transaction | 210 | 4.1852 USD |
| Common | Sell Transaction | 496 | 4.1892 USD |
| Common | Sell Transaction | 60 | 4.1897 USD |
| Common | Sell Transaction | 8,788 | 4.1900 USD |
| Common | Sell Transaction | 204 | 4.1902 USD |
| Common | Sell Transaction | 113 | 4.1912 USD |
| Common | Sell Transaction | 1,200 | 4.1917 USD |
| Common | Sell Transaction | 1,400 | 4.1929 USD |
| Common | Sell Transaction | 3,950 | 4.1934 USD |
| Common | Sell Transaction | 3,581 | 4.1936 USD |
| Common | Sell Transaction | 2,140 | 4.1950 USD |
| Common | Sell Transaction | 231 | 4.1954 USD |
| Common | Sell Transaction | 900 | 4.1956 USD |
| Common | Sell Transaction | 9,473 | 4.1964 USD |
| Common | Sell Transaction | 740 | 4.1982 USD |
| Common | Sell Transaction | 900 | 4.1989 USD |
| Common | Sell Transaction | 3,124 | 4.1990 USD |
| Common | Sell Transaction | 384 | 4.1997 USD |
| Common | Sell Transaction | 1,205 | 4.1998 USD |
| Common | Sell Transaction | 3,107 | 4.1999 USD |
| Common | Sell Transaction | 36,239 | 4.2000 USD |
| Common | Sell Transaction | 10,482 | 4.2002 USD |
| Common | Sell Transaction | 136 | 4.2002 USD |
| Common | Sell Transaction | 380 | 4.2008 USD |
| Common | Sell Transaction | 1,787 | 4.2011 USD |
| Common | Sell Transaction | 71 | 4.2014 USD |
| Common | Sell Transaction | 16,983 | 4.2014 USD |
| Common | Sell Transaction | 271 | 4.2021 USD |
| Common | Sell Transaction | 213 | 4.2024 USD |
| Common | Sell Transaction | 239 | 4.2032 USD |
| Common | Sell Transaction | 437 | 4.2045 USD |
| Common | Sell Transaction | 549 | 4.2046 USD |
| Common | Sell Transaction | 2,300 | 4.2048 USD |
| Common | Sell Transaction | 480 | 4.2050 USD |
| Common | Sell Transaction | 1,100 | 4.2055 USD |
| Common | Sell Transaction | 700 | 4.2057 USD |
| Common | Sell Transaction | 8 | 4.2062 USD |
| Common | Sell Transaction | 900 | 4.2067 USD |
| Common | Sell Transaction | 2,900 | 4.2072 USD |
| Common | Sell Transaction | 1,200 | 4.2075 USD |
| Common | Sell Transaction | 500 | 4.2080 USD |
| Common | Sell Transaction | 7 | 4.2086 USD |
| Common | Sell Transaction | 1,200 | 4.2092 USD |
| Common | Sell Transaction | 491 | 4.2096 USD |
| Common | Sell Transaction | 133 | 4.2098 USD |
| Common | Sell Transaction | 1,063 | 4.2099 USD |
| Common | Sell Transaction | 4,640 | 4.2099 USD |
| Common | Sell Transaction | 7,626 | 4.2100 USD |
| Common | Sell Transaction | 1,353 | 4.2107 USD |
| Common | Sell Transaction | 4,120 | 4.2115 USD |
| Common | Sell Transaction | 252 | 4.2115 USD |
| Common | Sell Transaction | 3,162 | 4.2128 USD |
| Common | Sell Transaction | 688 | 4.2150 USD |
| Common | Sell Transaction | 4,478 | 4.2157 USD |
| Common | Sell Transaction | 500 | 4.2160 USD |
| Common | Sell Transaction | 1 | 4.2172 USD |
| Common | Sell Transaction | 715 | 4.2187 USD |
| Common | Sell Transaction | 2,071 | 4.2190 USD |
| Common | Sell Transaction | 2,189 | 4.2197 USD |
| Common | Sell Transaction | 487 | 4.2199 USD |
| Common | Sell Transaction | 26,565 | 4.2200 USD |
| Common | Sell Transaction | 477 | 4.2216 USD |
| Common | Sell Transaction | 800 | 4.2250 USD |
| Common | Sell Transaction | 64 | 4.2275 USD |
| Common | Sell Transaction | 40 | 4.2283 USD |
| Common | Sell Transaction | 30 | 4.2283 USD |
| Common | Sell Transaction | 5,120 | 4.2300 USD |
| Common | Sell Transaction | 5 | 4.2320 USD |
| Common | Sell Transaction | 900 | 4.2350 USD |
| Common | Sell Transaction | 18 | 4.2494 USD |
| Common | Sell Transaction | 141 | 4.2565 USD |
| Common | Sell Transaction | 371 | 4.2600 USD |
| Common | Sell Transaction | 50 | 4.3000 USD |
| Common | Sell Transaction | 1,752 | 4.3300 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 | Reducing long position | 4,500 | 4.1941 USD |
| Common | CFD | Reducing long position | 355 | 4.2004 USD |
| Common | CFD | Reducing long position | 2,819 | 4.2081 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 | 4 | 4.0000 USD | American | 2025-Jul-18 | 0.2200 USD |
| Common | Put Option | Buy Transaction | 2,000 | 4.0000 USD | American | 2026-Jan-16 | 0.6500 USD |
| Common | Call Option | DVP Transaction | 1 | 5.0000 USD | American | 2025-Jul-18 | 0.1500 USD |
| Common | Put Option | DVP Transaction | 4 | 4.0000 USD | American | 2025-Jul-18 | 0.2200 USD |
| Common | Call Option | DVP Transaction | 1 | 5.0000 USD | American | 2025-Aug-15 | 0.2500 USD |
| Common | Call Option | DVP Transaction | 2 | 4.0000 USD | American | 2025-Jul-18 | 0.4200 USD |
| Common | Put Option | DVP Transaction | 2,000 | 4.0000 USD | American | 2026-Jan-16 | 0.6500 USD |
| Common | Put Option | DVP Transaction | 1,000 | 5.0000 USD | American | 2026-Jan-16 | 1.3000 USD |
| Common | Call Option | RVP Transaction | 1 | 5.0000 USD | American | 2025-Jul-18 | 0.1500 USD |
| Common | Put Option | RVP Transaction | 4 | 4.0000 USD | American | 2025-Jul-18 | 0.2200 USD |
| Common | Call Option | RVP Transaction | 1 | 5.0000 USD | American | 2025-Aug-15 | 0.2500 USD |
| Common | Call Option | RVP Transaction | 2 | 4.0000 USD | American | 2025-Jul-18 | 0.4200 USD |
| Common | Put Option | RVP Transaction | 2,000 | 4.0000 USD | American | 2026-Jan-16 | 0.6500 USD |
| Common | Put Option | RVP Transaction | 1,000 | 5.0000 USD | American | 2026-Jan-16 | 1.3000 USD |
| Common | Call Option | Sell Transaction | 1 | 5.0000 USD | American | 2025-Jul-18 | 0.1500 USD |
| Common | Put Option | Sell Transaction | 1,000 | 5.0000 USD | American | 2026-Jan-16 | 1.3000 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: | 23 June 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 | 6.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 14,100 | 4.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Purchased | -900 | 5.0 USD
| American
| 17/07/2026
|
| Common | Put Option | Purchased | -100 | 7.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Purchased | 300 | 2.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Purchased | -7,200 | 3.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 200 | 6.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Purchased | -13,000 | 3.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Purchased | 1,000 | 3.0 USD
| American
| 18/07/2025
|
| Common | Put Option | Purchased | -200 | 6.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Purchased | 700 | 10.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 2,600 | 10.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Purchased | -201,600 | 4.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Purchased | 255,900 | 6.0 USD
| American
| 18/07/2025
|
| Common | Put Option | Purchased | -6,400 | 4.0 USD
| American
| 18/07/2025
|
| Common | Put Option | Purchased | -300 | 5.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Purchased | 9,200 | 5.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Purchased | 600,000 | 6.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Purchased | 300 | 15.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Purchased | -700 | 7.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -300 | 6.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -2,500 | 4.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -200 | 7.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -29,400 | 8.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -36,000 | 5.0 USD
| American
| 17/07/2026
|
| Common | Put Option | Sold | 3,100 | 3.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Sold | -2,400 | 10.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -800 | 12.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -100 | 2.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -2,000 | 3.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Sold | -643,800 | 5.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -1,400 | 3.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -9,700 | 4.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -1,100 | 7.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -300 | 3.0 USD
| American
| 17/07/2026
|
| Common | Put Option | Sold | 91,500 | 5.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -117,900 | 7.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -97,500 | 5.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Sold | 100 | 5.0 USD
| American
| 18/07/2025
|
| Common | Call Option | Sold | -500 | 4.0 USD
| American
| 16/01/2026
|
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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