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 AND 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 | 3 September 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: | 1,688,439 | 1.42 | 11,220 | 0.00 |
| (2) Cash-settled derivatives:
| 0 | 0.00 | 0 | 0.00 |
| (3) Stock-settled derivatives (including options) and agreements to purchase/sell: | 230,800 | 0.19 | 661,000 | 0.55 |
|
TOTAL: | 1,919,239 | 1.61 | 672,220 | 0.56 |
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 | 500 | 5.8300 USD |
| Common | Buy Transaction | 226 | 5.8322 USD |
| Common | Buy Transaction | 600 | 5.8350 USD |
| Common | Buy Transaction | 2,400 | 5.8391 USD |
| Common | Buy Transaction | 600 | 5.8400 USD |
| Common | Buy Transaction | 68 | 5.8432 USD |
| Common | Buy Transaction | 255 | 5.8499 USD |
| Common | Buy Transaction | 4,355 | 5.8500 USD |
| Common | Buy Transaction | 400 | 5.8678 USD |
| Common | Buy Transaction | 893 | 5.8700 USD |
| Common | Buy Transaction | 27 | 5.8733 USD |
| Common | Buy Transaction | 200 | 5.8750 USD |
| Common | Buy Transaction | 1,222 | 5.8782 USD |
| Common | Buy Transaction | 600 | 5.8792 USD |
| Common | Buy Transaction | 7,300 | 5.8862 USD |
| Common | Buy Transaction | 880 | 5.8864 USD |
| Common | Buy Transaction | 722 | 5.8900 USD |
| Common | Buy Transaction | 2,587 | 5.8909 USD |
| Common | Buy Transaction | 917 | 5.8963 USD |
| Common | Buy Transaction | 9,260 | 5.8977 USD |
| Common | Buy Transaction | 6,062 | 5.9000 USD |
| Common | Buy Transaction | 13,720 | 5.9019 USD |
| Common | Buy Transaction | 776 | 5.9039 USD |
| Common | Buy Transaction | 1,299 | 5.9060 USD |
| Common | Buy Transaction | 600 | 5.9093 USD |
| Common | Buy Transaction | 757 | 5.9094 USD |
| Common | Buy Transaction | 205 | 5.9100 USD |
| Common | Buy Transaction | 1,022 | 5.9101 USD |
| Common | Buy Transaction | 12,937 | 5.9106 USD |
| Common | Buy Transaction | 792 | 5.9145 USD |
| Common | Buy Transaction | 10 | 5.9150 USD |
| Common | Buy Transaction | 301 | 5.9168 USD |
| Common | Buy Transaction | 901 | 5.9172 USD |
| Common | Buy Transaction | 24,283 | 5.9178 USD |
| Common | Buy Transaction | 1,551 | 5.9188 USD |
| Common | Buy Transaction | 750 | 5.9200 USD |
| Common | Buy Transaction | 1 | 5.9205 USD |
| Common | Buy Transaction | 554 | 5.9208 USD |
| Common | Buy Transaction | 1,056 | 5.9229 USD |
| Common | Buy Transaction | 4,426 | 5.9231 USD |
| Common | Buy Transaction | 2,900 | 5.9231 USD |
| Common | Buy Transaction | 1,775 | 5.9235 USD |
| Common | Buy Transaction | 12,375 | 5.9238 USD |
| Common | Buy Transaction | 1,000 | 5.9250 USD |
| Common | Buy Transaction | 202 | 5.9253 USD |
| Common | Buy Transaction | 636 | 5.9254 USD |
| Common | Buy Transaction | 4,000 | 5.9257 USD |
| Common | Buy Transaction | 10,240 | 5.9262 USD |
| Common | Buy Transaction | 3,600 | 5.9262 USD |
| Common | Buy Transaction | 1,703 | 5.9264 USD |
| Common | Buy Transaction | 13,162 | 5.9267 USD |
| Common | Buy Transaction | 1,000 | 5.9270 USD |
| Common | Buy Transaction | 1,382 | 5.9277 USD |
| Common | Buy Transaction | 1,700 | 5.9282 USD |
| Common | Buy Transaction | 6,326 | 5.9282 USD |
| Common | Buy Transaction | 2,500 | 5.9284 USD |
| Common | Buy Transaction | 1,216 | 5.9285 USD |
| Common | Buy Transaction | 2,524 | 5.9291 USD |
| Common | Buy Transaction | 3,263 | 5.9292 USD |
| Common | Buy Transaction | 1,001 | 5.9300 USD |
| Common | Buy Transaction | 3,787 | 5.9307 USD |
| Common | Buy Transaction | 4,517 | 5.9311 USD |
| Common | Buy Transaction | 211 | 5.9321 USD |
| Common | Buy Transaction | 3,300 | 5.9321 USD |
| Common | Buy Transaction | 2,615 | 5.9332 USD |
| Common | Buy Transaction | 900 | 5.9333 USD |
| Common | Buy Transaction | 4,822 | 5.9342 USD |
| Common | Buy Transaction | 350 | 5.9343 USD |
| Common | Buy Transaction | 1,089 | 5.9344 USD |
| Common | Buy Transaction | 1,446 | 5.9346 USD |
| Common | Buy Transaction | 1,107 | 5.9369 USD |
| Common | Buy Transaction | 954 | 5.9395 USD |
| Common | Buy Transaction | 200 | 5.9400 USD |
| Common | Buy Transaction | 618 | 5.9406 USD |
| Common | Buy Transaction | 1 | 5.9411 USD |
| Common | Buy Transaction | 1 | 5.9411 USD |
| Common | Buy Transaction | 710 | 5.9424 USD |
| Common | Buy Transaction | 1,287 | 5.9429 USD |
| Common | Buy Transaction | 331 | 5.9449 USD |
| Common | Buy Transaction | 362 | 5.9450 USD |
| Common | Buy Transaction | 1,298 | 5.9462 USD |
| Common | Buy Transaction | 300 | 5.9467 USD |
| Common | Buy Transaction | 1,192 | 5.9474 USD |
| Common | Buy Transaction | 17,999 | 5.9487 USD |
| Common | Buy Transaction | 337 | 5.9489 USD |
| Common | Buy Transaction | 324 | 5.9500 USD |
| Common | Buy Transaction | 1,001 | 5.9500 USD |
| Common | Buy Transaction | 7,454 | 5.9500 USD |
| Common | Buy Transaction | 87 | 5.9505 USD |
| Common | Buy Transaction | 1,816 | 5.9509 USD |
| Common | Buy Transaction | 2,500 | 5.9510 USD |
| Common | Buy Transaction | 3,349 | 5.9518 USD |
| Common | Buy Transaction | 578 | 5.9519 USD |
| Common | Buy Transaction | 300 | 5.9533 USD |
| Common | Buy Transaction | 1,030 | 5.9536 USD |
| Common | Buy Transaction | 66 | 5.9538 USD |
| Common | Buy Transaction | 130 | 5.9546 USD |
| Common | Buy Transaction | 100 | 5.9550 USD |
| Common | Buy Transaction | 266 | 5.9552 USD |
| Common | Buy Transaction | 7 | 5.9557 USD |
| Common | Buy Transaction | 1,600 | 5.9575 USD |
| Common | Buy Transaction | 1,100 | 5.9577 USD |
| Common | Buy Transaction | 300 | 5.9583 USD |
| Common | Buy Transaction | 1,358 | 5.9584 USD |
| Common | Buy Transaction | 371 | 5.9589 USD |
| Common | Buy Transaction | 609 | 5.9589 USD |
| Common | Buy Transaction | 77,640 | 5.9600 USD |
| Common | Buy Transaction | 44 | 5.9609 USD |
| Common | Buy Transaction | 399 | 5.9613 USD |
| Common | Buy Transaction | 4,129 | 5.9614 USD |
| Common | Buy Transaction | 1,304 | 5.9650 USD |
| Common | Buy Transaction | 1,980 | 5.9651 USD |
| Common | Buy Transaction | 48,460 | 5.9699 USD |
| Common | Buy Transaction | 1,876 | 5.9700 USD |
| Common | Buy Transaction | 391 | 5.9705 USD |
| Common | Buy Transaction | 154 | 5.9732 USD |
| Common | Buy Transaction | 9,918 | 5.9800 USD |
| Common | Buy Transaction | 3,621 | 5.9857 USD |
| Common | Buy Transaction | 4,401 | 5.9900 USD |
| Common | Buy Transaction | 450 | 5.9911 USD |
| Common | Buy Transaction | 500 | 6.0000 USD |
| Common | Buy Transaction | 5,000 | 6.0008 USD |
| Common | Buy Transaction | 100 | 6.0050 USD |
| Common | Buy Transaction | 262 | 6.0100 USD |
| Common | Buy Transaction | 175 | 6.0124 USD |
| Common | Sell Transaction | 100 | 5.8300 USD |
| Common | Sell Transaction | 3,000 | 5.8400 USD |
| Common | Sell Transaction | 100 | 5.8450 USD |
| Common | Sell Transaction | 514 | 5.8500 USD |
| Common | Sell Transaction | 7,503 | 5.8520 USD |
| Common | Sell Transaction | 20 | 5.8550 USD |
| Common | Sell Transaction | 1,600 | 5.8587 USD |
| Common | Sell Transaction | 333 | 5.8600 USD |
| Common | Sell Transaction | 33 | 5.8603 USD |
| Common | Sell Transaction | 62 | 5.8615 USD |
| Common | Sell Transaction | 3,043 | 5.8700 USD |
| Common | Sell Transaction | 2,500 | 5.8710 USD |
| Common | Sell Transaction | 166 | 5.8727 USD |
| Common | Sell Transaction | 47 | 5.8736 USD |
| Common | Sell Transaction | 9,215 | 5.8745 USD |
| Common | Sell Transaction | 420 | 5.8745 USD |
| Common | Sell Transaction | 21 | 5.8757 USD |
| Common | Sell Transaction | 13 | 5.8792 USD |
| Common | Sell Transaction | 748 | 5.8795 USD |
| Common | Sell Transaction | 102 | 5.8800 USD |
| Common | Sell Transaction | 800 | 5.8812 USD |
| Common | Sell Transaction | 2,400 | 5.8833 USD |
| Common | Sell Transaction | 456 | 5.8844 USD |
| Common | Sell Transaction | 104 | 5.8850 USD |
| Common | Sell Transaction | 18,775 | 5.8879 USD |
| Common | Sell Transaction | 240 | 5.8895 USD |
| Common | Sell Transaction | 2,718 | 5.8919 USD |
| Common | Sell Transaction | 463 | 5.8950 USD |
| Common | Sell Transaction | 304 | 5.8955 USD |
| Common | Sell Transaction | 1,530 | 5.8988 USD |
| Common | Sell Transaction | 302 | 5.9005 USD |
| Common | Sell Transaction | 1,400 | 5.9021 USD |
| Common | Sell Transaction | 8,193 | 5.9028 USD |
| Common | Sell Transaction | 204 | 5.9050 USD |
| Common | Sell Transaction | 500 | 5.9060 USD |
| Common | Sell Transaction | 103 | 5.9076 USD |
| Common | Sell Transaction | 800 | 5.9088 USD |
| Common | Sell Transaction | 63 | 5.9100 USD |
| Common | Sell Transaction | 3,275 | 5.9106 USD |
| Common | Sell Transaction | 5,063 | 5.9137 USD |
| Common | Sell Transaction | 7,775 | 5.9147 USD |
| Common | Sell Transaction | 234 | 5.9150 USD |
| Common | Sell Transaction | 211 | 5.9159 USD |
| Common | Sell Transaction | 1,300 | 5.9162 USD |
| Common | Sell Transaction | 1,000 | 5.9170 USD |
| Common | Sell Transaction | 320 | 5.9175 USD |
| Common | Sell Transaction | 1,456 | 5.9178 USD |
| Common | Sell Transaction | 2,377 | 5.9179 USD |
| Common | Sell Transaction | 1,000 | 5.9190 USD |
| Common | Sell Transaction | 2,811 | 5.9196 USD |
| Common | Sell Transaction | 12 | 5.9200 USD |
| Common | Sell Transaction | 31 | 5.9203 USD |
| Common | Sell Transaction | 4,442 | 5.9207 USD |
| Common | Sell Transaction | 4,801 | 5.9212 USD |
| Common | Sell Transaction | 4,580 | 5.9213 USD |
| Common | Sell Transaction | 1,302 | 5.9214 USD |
| Common | Sell Transaction | 580 | 5.9216 USD |
| Common | Sell Transaction | 973 | 5.9221 USD |
| Common | Sell Transaction | 2,376 | 5.9227 USD |
| Common | Sell Transaction | 25,034 | 5.9250 USD |
| Common | Sell Transaction | 489 | 5.9251 USD |
| Common | Sell Transaction | 635 | 5.9259 USD |
| Common | Sell Transaction | 9 | 5.9289 USD |
| Common | Sell Transaction | 170 | 5.9290 USD |
| Common | Sell Transaction | 85 | 5.9291 USD |
| Common | Sell Transaction | 71 | 5.9292 USD |
| Common | Sell Transaction | 2,184 | 5.9299 USD |
| Common | Sell Transaction | 251 | 5.9299 USD |
| Common | Sell Transaction | 814 | 5.9300 USD |
| Common | Sell Transaction | 2,701 | 5.9308 USD |
| Common | Sell Transaction | 7,581 | 5.9316 USD |
| Common | Sell Transaction | 2,290 | 5.9323 USD |
| Common | Sell Transaction | 12 | 5.9325 USD |
| Common | Sell Transaction | 281 | 5.9331 USD |
| Common | Sell Transaction | 303 | 5.9333 USD |
| Common | Sell Transaction | 5,385 | 5.9369 USD |
| Common | Sell Transaction | 1,846 | 5.9370 USD |
| Common | Sell Transaction | 20 | 5.9375 USD |
| Common | Sell Transaction | 3,106 | 5.9379 USD |
| Common | Sell Transaction | 14,434 | 5.9385 USD |
| Common | Sell Transaction | 1,390 | 5.9398 USD |
| Common | Sell Transaction | 222 | 5.9400 USD |
| Common | Sell Transaction | 336 | 5.9400 USD |
| Common | Sell Transaction | 109 | 5.9401 USD |
| Common | Sell Transaction | 1,767 | 5.9405 USD |
| Common | Sell Transaction | 461 | 5.9410 USD |
| Common | Sell Transaction | 6,712 | 5.9414 USD |
| Common | Sell Transaction | 417 | 5.9420 USD |
| Common | Sell Transaction | 2,414 | 5.9427 USD |
| Common | Sell Transaction | 6,678 | 5.9437 USD |
| Common | Sell Transaction | 945 | 5.9441 USD |
| Common | Sell Transaction | 1,100 | 5.9445 USD |
| Common | Sell Transaction | 319 | 5.9461 USD |
| Common | Sell Transaction | 226 | 5.9464 USD |
| Common | Sell Transaction | 480 | 5.9465 USD |
| Common | Sell Transaction | 360 | 5.9467 USD |
| Common | Sell Transaction | 855 | 5.9469 USD |
| Common | Sell Transaction | 3,175 | 5.9500 USD |
| Common | Sell Transaction | 1,001 | 5.9500 USD |
| Common | Sell Transaction | 19 | 5.9508 USD |
| Common | Sell Transaction | 4,470 | 5.9514 USD |
| Common | Sell Transaction | 1,657 | 5.9519 USD |
| Common | Sell Transaction | 356 | 5.9529 USD |
| Common | Sell Transaction | 2,738 | 5.9531 USD |
| Common | Sell Transaction | 10,900 | 5.9535 USD |
| Common | Sell Transaction | 750 | 5.9536 USD |
| Common | Sell Transaction | 78 | 5.9538 USD |
| Common | Sell Transaction | 106 | 5.9548 USD |
| Common | Sell Transaction | 4,970 | 5.9550 USD |
| Common | Sell Transaction | 5 | 5.9560 USD |
| Common | Sell Transaction | 778 | 5.9574 USD |
| Common | Sell Transaction | 1 | 5.9591 USD |
| Common | Sell Transaction | 48,804 | 5.9600 USD |
| Common | Sell Transaction | 1,055 | 5.9629 USD |
| Common | Sell Transaction | 3,938 | 5.9631 USD |
| Common | Sell Transaction | 7 | 5.9643 USD |
| Common | Sell Transaction | 2,518 | 5.9700 USD |
| Common | Sell Transaction | 1,700 | 5.9712 USD |
| Common | Sell Transaction | 552 | 5.9722 USD |
| Common | Sell Transaction | 800 | 5.9750 USD |
| Common | Sell Transaction | 300 | 5.9800 USD |
| Common | Sell Transaction | 100,848 | 5.9842 USD |
| Common | Sell Transaction | 340 | 5.9850 USD |
| Common | Sell Transaction | 190 | 5.9853 USD |
| Common | Sell Transaction | 15,446 | 5.9872 USD |
| Common | Sell Transaction | 499 | 5.9890 USD |
| Common | Sell Transaction | 1,000 | 5.9890 USD |
| Common | Sell Transaction | 3,653 | 5.9905 USD |
| Common | Sell Transaction | 820 | 5.9966 USD |
| Common | Sell Transaction | 8 | 5.9988 USD |
| Common | Sell Transaction | 216 | 5.9990 USD |
| Common | Sell Transaction | 453 | 5.9990 USD |
| Common | Sell Transaction | 204 | 5.9990 USD |
| Common | Sell Transaction | 1,105 | 6.0079 USD |
| Common | Sell Transaction | 330 | 6.0090 USD |
| Common | Sell Transaction | 344 | 6.0100 USD |
| Common | Sell Transaction | 150 | 6.0189 USD |
| Common | Sell Transaction | 56 | 6.0250 USD |
| Common | Sell Transaction | 572 | 6.0290 USD |
| Common | Sell Transaction | 97 | 6.0500 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 |
(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 | 100 | 10.0000 USD | American | 2026-01-16 | 0.1200 USD |
| Common | Call Option | Buy Transaction | 500 | 8.0000 USD | American | 2026-01-16 | 0.2500 USD |
| Common | Put Option | Buy Transaction | 100 | 5.0000 USD | American | 2026-01-16 | 0.3900 USD |
| Common | Put Option | Buy Transaction | 1,500 | 5.0000 USD | American | 2026-01-16 | 0.4000 USD |
| Common | Call Option | Buy Transaction | 1,500 | 7.0000 USD | American | 2026-04-17 | 0.7600 USD |
| Common | Call Option | Sell Transaction | 200 | 6.0000 USD | American | 2025-09-19 | 0.2500 USD |
| Common | Call Option | Sell Transaction | 4,000 | 7.0000 USD | American | 2026-01-16 | 0.5100 USD |
| Common | Call Option | Sell Transaction | 1,500 | 7.0000 USD | American | 2026-01-16 | 0.5200 USD |
| Common | Call Option | Sell Transaction | 200 | 7.0000 USD | American | 2026-04-17 | 0.7800 USD |
| Common | Call Option | Sell Transaction | 100 | 6.0000 USD | American | 2026-01-16 | 0.8500 USD |
| Common | Call Option | Sell Transaction | 2,100 | 6.0000 USD | American | 2026-01-16 | 0.9000 USD |
| Common | Call Option | Sell Transaction | 300 | 6.0000 USD | American | 2026-04-17 | 1.0800 USD |
| Common | Call Option | Sell Transaction | 6,300 | 6.0000 USD | American | 2026-04-17 | 1.0900 USD |
| Common | Call Option | Sell Transaction | 5,600 | 6.0000 USD | American | 2026-04-17 | 1.1000 USD |
| Common | Call Option | Sell Transaction | 1,500 | 6.0000 USD | American | 2026-04-17 | 1.1200 USD |
| Common | Call Option | Sell Transaction | 700 | 6.0000 USD | American | 2026-04-17 | 1.1300 USD |
| Common | Call Option | Sell Transaction | 2,500 | 6.0000 USD | American | 2026-04-17 | 1.1400 USD |
| Common | Call Option | Sell Transaction | 4,100 | 6.0000 USD | American | 2026-04-17 | 1.1500 USD |
| Common | Call Option | Sell Transaction | 300 | 6.0000 USD | American | 2026-04-17 | 1.1600 USD |
| Common | Call Option | Sell Transaction | 500 | 7.0000 USD | American | 2026-12-18 | 1.2300 USD |
| Common | Call Option | Sell Transaction | 100 | 7.0000 USD | American | 2026-12-18 | 1.2500 USD |
| Common | Call Option | Sell Transaction | 200 | 7.0000 USD | American | 2026-12-18 | 1.3500 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: | 4 September 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 | Call Option | Purchased | 15,700 | 4.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Purchased | 3,100 | 10.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Purchased | -17,200 | 3.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Purchased | -500 | 3.0 USD
| American
| 17/04/2026
|
| Common | Call Option | Purchased | 600 | 8.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Purchased | 300 | 3.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Purchased | -1,200 | 5.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Purchased | 1,300 | 7.0 USD
| American
| 17/04/2026
|
| Common | Call Option | Purchased | 42,000 | 6.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Purchased | -215,700 | 4.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Purchased | 1,000 | 8.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Purchased | 800 | 3.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Purchased | 100 | 4.0 USD
| American
| 19/09/2025
|
| Common | Put Option | Purchased | -8,200 | 6.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Purchased | -10,700 | 5.0 USD
| American
| 17/04/2026
|
| Common | Call Option | Purchased | 17,600 | 7.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Purchased | -400 | 5.0 USD
| American
| 19/09/2025
|
| Common | Call Option | Purchased | 1,500 | 5.0 USD
| American
| 19/09/2025
|
| Common | Call Option | Purchased | 43,500 | 6.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Purchased | 100 | 9.0 USD
| American
| 17/04/2026
|
| Common | Call Option | Purchased | 1,000 | 5.0 USD
| American
| 17/04/2026
|
| Common | Call Option | Purchased | 300 | 2.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Purchased | 8,700 | 6.0 USD
| American
| 19/09/2025
|
| Common | Put Option | Sold | 600 | 6.0 USD
| American
| 19/09/2025
|
| Common | Put Option | Sold | 100 | 7.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -900 | 4.0 USD
| American
| 17/07/2026
|
| Common | Put Option | Sold | 600 | 3.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Sold | -1,400 | 4.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -6,200 | 12.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -100 | 1.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -12,500 | 15.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -1,000 | 7.0 USD
| American
| 17/07/2026
|
| Common | Put Option | Sold | 200 | 6.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Sold | -41,400 | 5.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -114,700 | 7.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -400 | 5.0 USD
| American
| 18/12/2026
|
| Common | Call Option | Sold | -1,400 | 3.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -900 | 10.0 USD
| American
| 17/07/2026
|
| Common | Call Option | Sold | -2,000 | 7.0 USD
| American
| 18/12/2026
|
| Common | Call Option | Sold | -54,300 | 5.0 USD
| American
| 16/01/2026
|
| Common | Put Option | Sold | 90,900 | 5.0 USD
| American
| 16/01/2026
|
| Common | Call Option | Sold | -128,600 | 5.0 USD
| American
| 17/10/2025
|
| Common | Put Option | Sold | 800 | 5.0 USD
| American
| 17/10/2025
|
| Common | Call Option | Sold | -41,300 | 6.0 USD
| American
| 17/04/2026
|
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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