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RNS Number : 2339G Citadel Group 25 April 2025
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 N/A
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.
(c) Name of offeror/offeree in relation to whose relevant securities this form AMERICAN AXLE MANUFACTURING HOLDINGS INC
relates:
Use a separate form for each offeror/offeree
(d) If an exempt fund manager connected with an offeror/offeree, state this N/A
and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken: 24 April 2025
For an opening position disclosure, state the latest practicable date
prior to the disclosure
(f) In addition to the company in 1(c) above, is the discloser making YES
disclosures in respect of any other party to the offer?
DOWLAIS GROUP PLC
If it is a cash offer or possible cash offer, state "N/A"
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: ISIN US0240611030
Common Stock USD 0.01 common
Interests Short positions
Number % Number %
(1) Relevant securities owned and/or controlled: 768,524 0.64 31,942 0.02
(2) Cash-settled derivatives: 38,799 0.03 0 0.00
(3) Stock-settled derivatives (including options) and agreements to 2,121,800 1.79 564,800 0.47
purchase/sell:
2,929,123 2.47 596,742 0.50
TOTAL:
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 800 3.3900 USD
Common Buy Transaction 400 3.4000 USD
Common Buy Transaction 121 3.4217 USD
Common Buy Transaction 300 3.4533 USD
Common Buy Transaction 312 3.4540 USD
Common Buy Transaction 400 3.4575 USD
Common Buy Transaction 350 3.4600 USD
Common Buy Transaction 205 3.4602 USD
Common Buy Transaction 612 3.4628 USD
Common Buy Transaction 1,700 3.4629 USD
Common Buy Transaction 200 3.4650 USD
Common Buy Transaction 1,559 3.4652 USD
Common Buy Transaction 300 3.4667 USD
Common Buy Transaction 92 3.4668 USD
Common Buy Transaction 252 3.4700 USD
Common Buy Transaction 601 3.4703 USD
Common Buy Transaction 1,613 3.4752 USD
Common Buy Transaction 775 3.4757 USD
Common Buy Transaction 1 3.4786 USD
Common Buy Transaction 100 3.4800 USD
Common Buy Transaction 306 3.4815 USD
Common Buy Transaction 100 3.4825 USD
Common Buy Transaction 415 3.4845 USD
Common Buy Transaction 145 3.4894 USD
Common Buy Transaction 1,082 3.4900 USD
Common Buy Transaction 312 3.4910 USD
Common Buy Transaction 1,000 3.4930 USD
Common Buy Transaction 3,927 3.4965 USD
Common Buy Transaction 12 3.4983 USD
Common Buy Transaction 2,309 3.4984 USD
Common Buy Transaction 5,013 3.4999 USD
Common Buy Transaction 191 3.5000 USD
Common Buy Transaction 1,260 3.5009 USD
Common Buy Transaction 1,729 3.5023 USD
Common Buy Transaction 1,534 3.5055 USD
Common Buy Transaction 15,022 3.5073 USD
Common Buy Transaction 6 3.5100 USD
Common Buy Transaction 1,535 3.5102 USD
Common Buy Transaction 1,886 3.5150 USD
Common Buy Transaction 54 3.5167 USD
Common Buy Transaction 200 3.5200 USD
Common Buy Transaction 4,887 3.5206 USD
Common Buy Transaction 978 3.5249 USD
Common Buy Transaction 58 3.5300 USD
Common Buy Transaction 7,068 3.5329 USD
Common Buy Transaction 58,722 3.5331 USD
Common Buy Transaction 3,761 3.5331 USD
Common Buy Transaction 1,522 3.5334 USD
Common Buy Transaction 813 3.5350 USD
Common Buy Transaction 92 3.5383 USD
Common Buy Transaction 900 3.5422 USD
Common Buy Transaction 19,594 3.5423 USD
Common Buy Transaction 94 3.5449 USD
Common Buy Transaction 3,304 3.5452 USD
Common Buy Transaction 714 3.5478 USD
Common Buy Transaction 66 3.5485 USD
Common Buy Transaction 40 3.5500 USD
Common Buy Transaction 210 3.5517 USD
Common Buy Transaction 1,500 3.5547 USD
Common Buy Transaction 71,199 3.5563 USD
Common Buy Transaction 16,664 3.5577 USD
Common Buy Transaction 1,406 3.5600 USD
Common Buy Transaction 2,795 3.5602 USD
Common Buy Transaction 7,976 3.5605 USD
Common Buy Transaction 95,008 3.5611 USD
Common Buy Transaction 5,575 3.5682 USD
Common Buy Transaction 1,300 3.5710 USD
Common Buy Transaction 2,266 3.5809 USD
Common Buy Transaction 2,533 3.5824 USD
Common Buy Transaction 3,607 3.5826 USD
Common Buy Transaction 10,040 3.5834 USD
Common Buy Transaction 400 3.5875 USD
Common Buy Transaction 89 3.5904 USD
Common Buy Transaction 347 3.5925 USD
Common Buy Transaction 3,170 3.5930 USD
Common Buy Transaction 2,711 3.5940 USD
Common Buy Transaction 2,205 3.5944 USD
Common Buy Transaction 5,450 3.5955 USD
Common Buy Transaction 1,501 3.5964 USD
Common Buy Transaction 7,599 3.5965 USD
Common Buy Transaction 10,000 3.6010 USD
Common Buy Transaction 2,037 3.6026 USD
Common Buy Transaction 900 3.6040 USD
Common Buy Transaction 1,120 3.6060 USD
Common Buy Transaction 1,856 3.6071 USD
Common Buy Transaction 28 3.6100 USD
Common Buy Transaction 1,416 3.6102 USD
Common Buy Transaction 4,903 3.6133 USD
Common Buy Transaction 300 3.6178 USD
Common Buy Transaction 891 3.6198 USD
Common Buy Transaction 1,813 3.6201 USD
Common Buy Transaction 1 3.6211 USD
Common Buy Transaction 1,600 3.6225 USD
Common Buy Transaction 1,701 3.6236 USD
Common Buy Transaction 285 3.6298 USD
Common Buy Transaction 426 3.6321 USD
Common Buy Transaction 17 3.6353 USD
Common Buy Transaction 1,250 3.6396 USD
Common Buy Transaction 2,067 3.6400 USD
Common Buy Transaction 407 3.6437 USD
Common Buy Transaction 982 3.6452 USD
Common Buy Transaction 1 3.6500 USD
Common Buy Transaction 60 3.6502 USD
Common Buy Transaction 1,000 3.6600 USD
Common Buy Transaction 375 3.6684 USD
Common Buy Transaction 35 3.6700 USD
Common Buy Transaction 1,185 3.6814 USD
Common Buy Transaction 3,745 3.6816 USD
Common Buy Transaction 11,528 3.6900 USD
Common Buy Transaction 133,829 3.7000 USD
Common Buy Transaction 1,100 3.7064 USD
Common Buy Transaction 2,923 3.7100 USD
Common DVP Transaction 1,041 3.3900 USD
Common DVP Transaction 800 3.4900 USD
Common DVP Transaction 106 3.5075 USD
Common DVP Transaction 173 3.5261 USD
Common DVP Transaction 50 3.5352 USD
Common DVP Transaction 9 3.5756 USD
Common DVP Transaction 90 3.6050 USD
Common DVP Transaction 11 3.6100 USD
Common DVP Transaction 40 3.6300 USD
Common DVP Transaction 61 3.6326 USD
Common DVP Transaction 18 3.6400 USD
Common DVP Transaction 40,407 3.6449 USD
Common DVP Transaction 52 3.6723 USD
Common DVP Transaction 111,160 3.7000 USD
Common DVP Transaction 11 3.7027 USD
Common DVP Transaction 3 3.7100 USD
Common RVP Transaction 1,041 3.3900 USD
Common RVP Transaction 140 3.4650 USD
Common RVP Transaction 800 3.4900 USD
Common RVP Transaction 100 3.5000 USD
Common RVP Transaction 100 3.5300 USD
Common RVP Transaction 200 3.5650 USD
Common RVP Transaction 300 3.5817 USD
Common RVP Transaction 1,065 3.5889 USD
Common RVP Transaction 2,122 3.6036 USD
Common RVP Transaction 1,790 3.6050 USD
Common RVP Transaction 1,188 3.6096 USD
Common RVP Transaction 2,618 3.6142 USD
Common RVP Transaction 1,027 3.6169 USD
Common RVP Transaction 5,896 3.6247 USD
Common RVP Transaction 300 3.6283 USD
Common RVP Transaction 2,677 3.6300 USD
Common RVP Transaction 40 3.6300 USD
Common RVP Transaction 6 3.6317 USD
Common RVP Transaction 248 3.6431 USD
Common RVP Transaction 235 3.6489 USD
Common RVP Transaction 858 3.6493 USD
Common RVP Transaction 2,214 3.6527 USD
Common RVP Transaction 700 3.6536 USD
Common RVP Transaction 1,900 3.6576 USD
Common RVP Transaction 1,159 3.6593 USD
Common RVP Transaction 1,854 3.6661 USD
Common RVP Transaction 1,956 3.6712 USD
Common RVP Transaction 2 3.6800 USD
Common RVP Transaction 10,336 3.6852 USD
Common RVP Transaction 111,160 3.7000 USD
Common Sell Transaction 200 3.3900 USD
Common Sell Transaction 100 3.4400 USD
Common Sell Transaction 598 3.4417 USD
Common Sell Transaction 1,100 3.4450 USD
Common Sell Transaction 1,000 3.4500 USD
Common Sell Transaction 400 3.4562 USD
Common Sell Transaction 42 3.4600 USD
Common Sell Transaction 100 3.4650 USD
Common Sell Transaction 100 3.4690 USD
Common Sell Transaction 4,900 3.4700 USD
Common Sell Transaction 3,000 3.4727 USD
Common Sell Transaction 507 3.4818 USD
Common Sell Transaction 129 3.4850 USD
Common Sell Transaction 1,201 3.4900 USD
Common Sell Transaction 2,134 3.4906 USD
Common Sell Transaction 3,881 3.4911 USD
Common Sell Transaction 641 3.4939 USD
Common Sell Transaction 5,850 3.5038 USD
Common Sell Transaction 205 3.5043 USD
Common Sell Transaction 800 3.5063 USD
Common Sell Transaction 6,009 3.5093 USD
Common Sell Transaction 13,904 3.5128 USD
Common Sell Transaction 350 3.5200 USD
Common Sell Transaction 11,096 3.5227 USD
Common Sell Transaction 45,890 3.5255 USD
Common Sell Transaction 2,239 3.5275 USD
Common Sell Transaction 1,001 3.5291 USD
Common Sell Transaction 1,639 3.5337 USD
Common Sell Transaction 2,800 3.5343 USD
Common Sell Transaction 975 3.5400 USD
Common Sell Transaction 40 3.5500 USD
Common Sell Transaction 1,100 3.5509 USD
Common Sell Transaction 416 3.5563 USD
Common Sell Transaction 780 3.5579 USD
Common Sell Transaction 3,396 3.5591 USD
Common Sell Transaction 1,408 3.5614 USD
Common Sell Transaction 100 3.5700 USD
Common Sell Transaction 650 3.5710 USD
Common Sell Transaction 1,573 3.5716 USD
Common Sell Transaction 9,534 3.5735 USD
Common Sell Transaction 2,576 3.5736 USD
Common Sell Transaction 1,070 3.5737 USD
Common Sell Transaction 2,931 3.5789 USD
Common Sell Transaction 665 3.5790 USD
Common Sell Transaction 1,526 3.5799 USD
Common Sell Transaction 374 3.5813 USD
Common Sell Transaction 11,094 3.5818 USD
Common Sell Transaction 1,176 3.5900 USD
Common Sell Transaction 392 3.5940 USD
Common Sell Transaction 600 3.5950 USD
Common Sell Transaction 11,069 3.5953 USD
Common Sell Transaction 5,759 3.5961 USD
Common Sell Transaction 1,855 3.6000 USD
Common Sell Transaction 3,000 3.6047 USD
Common Sell Transaction 743 3.6082 USD
Common Sell Transaction 10 3.6090 USD
Common Sell Transaction 166 3.6121 USD
Common Sell Transaction 2 3.6127 USD
Common Sell Transaction 2,400 3.6150 USD
Common Sell Transaction 2,000 3.6190 USD
Common Sell Transaction 4,405 3.6190 USD
Common Sell Transaction 833 3.6192 USD
Common Sell Transaction 101 3.6200 USD
Common Sell Transaction 800 3.6225 USD
Common Sell Transaction 900 3.6250 USD
Common Sell Transaction 6,995 3.6263 USD
Common Sell Transaction 1,500 3.6267 USD
Common Sell Transaction 1,200 3.6275 USD
Common Sell Transaction 1,308 3.6300 USD
Common Sell Transaction 5,200 3.6316 USD
Common Sell Transaction 2,200 3.6327 USD
Common Sell Transaction 50 3.6346 USD
Common Sell Transaction 387 3.6375 USD
Common Sell Transaction 30 3.6390 USD
Common Sell Transaction 52 3.6573 USD
Common Sell Transaction 2,513 3.6575 USD
Common Sell Transaction 1,270 3.6622 USD
Common Sell Transaction 4,530 3.6645 USD
Common Sell Transaction 5,084 3.6758 USD
Common Sell Transaction 48 3.6760 USD
Common Sell Transaction 2,055 3.6794 USD
Common Sell Transaction 31 3.6800 USD
Common Sell Transaction 700 3.6857 USD
Common Sell Transaction 1,000 3.6880 USD
Common Sell Transaction 900 3.6912 USD
Common Sell Transaction 6,261 3.6914 USD
Common Sell Transaction 23,781 3.6991 USD
Common Sell Transaction 126,492 3.7000 USD
Common Sell Transaction 1,226 3.7008 USD
Common Sell Transaction 5,882 3.7013 USD
Common Sell Transaction 500 3.7020 USD
Common Sell Transaction 922 3.7050 USD
Common Sell Transaction 1,005 3.7050 USD
Common Sell Transaction 1,658 3.7094 USD
(b) Cash-settled derivative transactions
Class of relevant security Product description Nature of dealing Number of reference securities Price per unit
e.g. CFD e.g. opening/closing a long/short position, increasing/reducing a long/short
position
Common CFD Reducing long position 1,507 3.6325 USD
Common CFD Reducing long position 16,593 3.6329 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 Expiry date Option money paid/ received per unit
e.g. American, European etc.
Common Call Option Buy Transaction 3 5.0000 USD American 2025-Oct-17 0.2000 USD
Common Call Option Buy Transaction 1 4.0000 USD American 2025-Jul-18 0.2500 USD
Common Call Option Buy Transaction 70 5.0000 USD American 2026-Jan-16 0.3100 USD
Common Call Option DVP Transaction 2 3.0000 USD American 2026-Jul-17 1.2000 USD
Common Call Option RVP Transaction 2 3.0000 USD American 2026-Jul-17 1.2000 USD
Common Call Option Sell Transaction 50 4.0000 USD American 2025-Jul-18 0.3000 USD
Common Call Option Sell Transaction 9 3.0000 USD American 2025-May-16 0.6800 USD
Common Call Option Sell Transaction 2 3.0000 USD American 2025-May-16 0.7000 USD
Common Call Option Sell Transaction 1 3.0000 USD American 2025-Jul-18 0.8500 USD
(ii) Exercise
Class of relevant security Product description Exercising/ exercised against Number of securities Exercise price per unit
e.g. call option
(d) Other dealings (including subscribing for new securities)
Class of relevant security Nature of dealing Details Price per unit (if applicable)
e.g. subscription, conversion
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: 25 April 2025
Contact name: Paula Santos
Telephone number*: 020 7645 9700
Public disclosures under Rule 8 of the Code must be made to a Regulatory
Information Service.
The Panel's Market Surveillance Unit is available for consultation in relation
to the Code's disclosure requirements on +44 (0)20 7638 0129.
*If the discloser is a natural person, a telephone number does not need to be
included, provided contact information has been provided to the Panel's Market
Surveillance Unit.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk
(http://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 AMERICAN AXLE MANUFACTURING HOLDINGS INC
disclosure relates:
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 Expiry date
e.g. American, European etc.
Common Call Option Purchased 300 8.0 USD American 20/06/2025
Common Call Option Purchased 2,500 10.0 USD American 16/01/2026
Common Put Option Purchased -5,400 4.0 USD American 18/07/2025
Common Put Option Purchased -13,000 3.0 USD American 16/01/2026
Common Call Option Purchased 200 6.0 USD American 17/10/2025
Common Put Option Purchased -104,200 6.0 USD American 20/06/2025
Common Put Option Purchased -700 7.0 USD American 18/07/2025
Common Put Option Purchased -400 4.0 USD American 16/05/2025
Common Call Option Purchased 245,600 6.0 USD American 18/07/2025
Common Call Option Purchased 1,000,000 5.0 USD American 20/06/2025
Common Put Option Purchased -8,400 5.0 USD American 16/01/2026
Common Call Option Purchased 800 5.0 USD American 17/10/2025
Common Put Option Purchased -500 3.0 USD American 16/05/2025
Common Put Option Purchased -1,400 5.0 USD American 20/06/2025
Common Call Option Purchased 150,000 4.0 USD American 20/06/2025
Common Put Option Purchased -300 5.0 USD American 17/10/2025
Common Put Option Purchased -4,300 4.0 USD American 20/06/2025
Common Put Option Purchased -99,800 7.0 USD American 20/06/2025
Common Call Option Purchased 4,700 4.0 USD American 16/05/2025
Common Put Option Purchased -900 5.0 USD American 17/07/2026
Common Call Option Purchased 6,000 5.0 USD American 20/06/2025
Common Call Option Purchased 700 10.0 USD American 18/07/2025
Common Call Option Purchased 600,000 6.0 USD American 18/07/2025
Common Put Option Purchased -1,400 4.0 USD American 16/01/2026
Common Call Option Purchased 800 5.0 USD American 16/05/2025
Common Call Option Purchased 2,300 7.0 USD American 20/06/2025
Common Call Option Purchased 7,800 5.0 USD American 16/01/2026
Common Call Option Sold -101,000 5.0 USD American 18/07/2025
Common Call Option Sold -100 7.0 USD American 17/10/2025
Common Call Option Sold -200 7.0 USD American 18/07/2025
Common Call Option Sold -2,800 4.0 USD American 20/06/2025
Common Call Option Sold -14,400 4.0 USD American 18/07/2025
Common Call Option Sold -500 3.0 USD American 17/07/2026
Common Call Option Sold -100 3.0 USD American 17/10/2025
Common Put Option Sold 99,900 8.0 USD American 20/06/2025
Common Put Option Sold 200 5.0 USD American 18/07/2025
Common Call Option Sold -900 3.0 USD American 16/05/2025
Common Call Option Sold -9,100 4.0 USD American 17/10/2025
Common Call Option Sold -200 15.0 USD American 16/01/2026
Common Call Option Sold -118,400 7.0 USD American 16/01/2026
Common Call Option Sold -2,000 6.0 USD American 20/06/2025
Common Call Option Sold -1,400 3.0 USD American 16/01/2026
Common Call Option Sold -29,400 8.0 USD American 18/07/2025
Common Call Option Sold -36,100 5.0 USD American 17/07/2026
Common Call Option Sold -2,500 4.0 USD American 17/07/2026
Common Call Option Sold -3,400 10.0 USD American 17/07/2026
Common Call Option Sold -800 12.0 USD American 16/01/2026
Common Call Option Sold -200 3.0 USD American 20/06/2025
Common Call Option Sold -500 4.0 USD American 16/01/2026
Common Call Option Sold -100 3.0 USD American 18/07/2025
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
(http://www.thetakeoverpanel.org.uk) .
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