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REG - Citadel Group Dowlais Group PLC American Axle & Mfg. - Form 8.3 - American Axle & Manufacturing Holdings

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RNS Number : 2881R  Citadel Group  16 July 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:                                       15 July 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:                     1,981,998  1.67   0          0.00
 (2) Cash-settled derivatives:                                        602,903    0.50   0          0.00

 (3) Stock-settled derivatives (including options) and agreements to  1,003,900  0.84   1,361,100  1.14
 purchase/sell:
                                                                      3,588,801  3.02   1,361,100  1.14

      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   80,300                4.7800 USD
 Common                      Buy Transaction   140                   4.7886 USD
 Common                      Buy Transaction   11                    4.7900 USD
 Common                      Buy Transaction   167                   4.7904 USD
 Common                      Buy Transaction   102                   4.7912 USD
 Common                      Buy Transaction   800                   4.7912 USD
 Common                      Buy Transaction   1,900                 4.7921 USD
 Common                      Buy Transaction   9,590                 4.7992 USD
 Common                      Buy Transaction   4,848                 4.8000 USD
 Common                      Buy Transaction   1                     4.8008 USD
 Common                      Buy Transaction   2,700                 4.8011 USD
 Common                      Buy Transaction   701                   4.8044 USD
 Common                      Buy Transaction   173                   4.8050 USD
 Common                      Buy Transaction   204                   4.8053 USD
 Common                      Buy Transaction   1,880                 4.8060 USD
 Common                      Buy Transaction   300                   4.8067 USD
 Common                      Buy Transaction   900                   4.8100 USD
 Common                      Buy Transaction   462                   4.8110 USD
 Common                      Buy Transaction   2,212                 4.8110 USD
 Common                      Buy Transaction   825                   4.8127 USD
 Common                      Buy Transaction   1,200                 4.8133 USD
 Common                      Buy Transaction   12,522                4.8138 USD
 Common                      Buy Transaction   200                   4.8150 USD
 Common                      Buy Transaction   300                   4.8167 USD
 Common                      Buy Transaction   626                   4.8184 USD
 Common                      Buy Transaction   602                   4.8200 USD
 Common                      Buy Transaction   902                   4.8224 USD
 Common                      Buy Transaction   277                   4.8247 USD
 Common                      Buy Transaction   2                     4.8250 USD
 Common                      Buy Transaction   97                    4.8251 USD
 Common                      Buy Transaction   1,465                 4.8271 USD
 Common                      Buy Transaction   595                   4.8272 USD
 Common                      Buy Transaction   3,279                 4.8300 USD
 Common                      Buy Transaction   4                     4.8325 USD
 Common                      Buy Transaction   2,800                 4.8329 USD
 Common                      Buy Transaction   5,378                 4.8343 USD
 Common                      Buy Transaction   1,923                 4.8371 USD
 Common                      Buy Transaction   600                   4.8383 USD
 Common                      Buy Transaction   21,441                4.8400 USD
 Common                      Buy Transaction   1,682                 4.8406 USD
 Common                      Buy Transaction   518                   4.8408 USD
 Common                      Buy Transaction   599                   4.8409 USD
 Common                      Buy Transaction   3,125                 4.8420 USD
 Common                      Buy Transaction   746                   4.8460 USD
 Common                      Buy Transaction   834                   4.8480 USD
 Common                      Buy Transaction   740                   4.8500 USD
 Common                      Buy Transaction   17                    4.8506 USD
 Common                      Buy Transaction   2,800                 4.8514 USD
 Common                      Buy Transaction   10                    4.8550 USD
 Common                      Buy Transaction   1,800                 4.8556 USD
 Common                      Buy Transaction   6                     4.8567 USD
 Common                      Buy Transaction   627                   4.8591 USD
 Common                      Buy Transaction   470                   4.8591 USD
 Common                      Buy Transaction   203                   4.8600 USD
 Common                      Buy Transaction   5,061                 4.8605 USD
 Common                      Buy Transaction   192                   4.8608 USD
 Common                      Buy Transaction   526                   4.8616 USD
 Common                      Buy Transaction   1,800                 4.8633 USD
 Common                      Buy Transaction   1,000                 4.8640 USD
 Common                      Buy Transaction   2,633                 4.8642 USD
 Common                      Buy Transaction   430                   4.8651 USD
 Common                      Buy Transaction   409                   4.8699 USD
 Common                      Buy Transaction   184                   4.8700 USD
 Common                      Buy Transaction   3,865                 4.8700 USD
 Common                      Buy Transaction   200                   4.8704 USD
 Common                      Buy Transaction   1                     4.8708 USD
 Common                      Buy Transaction   2,000                 4.8728 USD
 Common                      Buy Transaction   742                   4.8742 USD
 Common                      Buy Transaction   1                     4.8743 USD
 Common                      Buy Transaction   2,383                 4.8743 USD
 Common                      Buy Transaction   887                   4.8755 USD
 Common                      Buy Transaction   400                   4.8775 USD
 Common                      Buy Transaction   1,001                 4.8800 USD
 Common                      Buy Transaction   114                   4.8932 USD
 Common                      Buy Transaction   7,358                 4.8948 USD
 Common                      Buy Transaction   2,100                 4.8982 USD
 Common                      Buy Transaction   100                   4.9200 USD
 Common                      Buy Transaction   1,200                 4.9250 USD
 Common                      Buy Transaction   1                     4.9300 USD
 Common                      Buy Transaction   100                   4.9308 USD
 Common                      Buy Transaction   61,971                4.9354 USD
 Common                      Buy Transaction   52                    4.9394 USD
 Common                      Buy Transaction   2                     4.9500 USD
 Common                      DVP Transaction   176                   4.7100 USD
 Common                      DVP Transaction   1                     4.7500 USD
 Common                      DVP Transaction   72,729                4.7800 USD
 Common                      DVP Transaction   1                     4.7850 USD
 Common                      DVP Transaction   1                     4.7900 USD
 Common                      DVP Transaction   287                   4.8044 USD
 Common                      DVP Transaction   256                   4.8050 USD
 Common                      DVP Transaction   262                   4.8100 USD
 Common                      DVP Transaction   93                    4.8117 USD
 Common                      DVP Transaction   99                    4.8151 USD
 Common                      DVP Transaction   3,794                 4.8317 USD
 Common                      DVP Transaction   75                    4.8500 USD
 Common                      DVP Transaction   1                     4.8700 USD
 Common                      DVP Transaction   3,458                 4.8900 USD
 Common                      RVP Transaction   176                   4.7100 USD
 Common                      RVP Transaction   1                     4.7500 USD
 Common                      RVP Transaction   100                   4.7750 USD
 Common                      RVP Transaction   72,725                4.7800 USD
 Common                      RVP Transaction   97                    4.7850 USD
 Common                      RVP Transaction   11                    4.7855 USD
 Common                      RVP Transaction   1                     4.7900 USD
 Common                      RVP Transaction   417                   4.7984 USD
 Common                      RVP Transaction   150                   4.8033 USD
 Common                      RVP Transaction   100                   4.8050 USD
 Common                      RVP Transaction   908                   4.8072 USD
 Common                      RVP Transaction   464                   4.8147 USD
 Common                      RVP Transaction   110                   4.8150 USD
 Common                      RVP Transaction   295                   4.8200 USD
 Common                      RVP Transaction   399                   4.8250 USD
 Common                      RVP Transaction   204                   4.8253 USD
 Common                      RVP Transaction   275                   4.8460 USD
 Common                      RVP Transaction   481                   4.8475 USD
 Common                      RVP Transaction   205                   4.8499 USD
 Common                      RVP Transaction   25                    4.8500 USD
 Common                      RVP Transaction   216                   4.8544 USD
 Common                      RVP Transaction   1                     4.8700 USD
 Common                      RVP Transaction   270                   4.8756 USD
 Common                      RVP Transaction   3,458                 4.8900 USD
 Common                      RVP Transaction   72                    4.9300 USD
 Common                      RVP Transaction   72                    4.9500 USD
 Common                      Sell Transaction  76,293                4.7800 USD
 Common                      Sell Transaction  300                   4.7900 USD
 Common                      Sell Transaction  3,500                 4.7924 USD
 Common                      Sell Transaction  13,000                4.7951 USD
 Common                      Sell Transaction  225                   4.7976 USD
 Common                      Sell Transaction  5,903                 4.8000 USD
 Common                      Sell Transaction  17                    4.8006 USD
 Common                      Sell Transaction  5,778                 4.8010 USD
 Common                      Sell Transaction  1,895                 4.8037 USD
 Common                      Sell Transaction  21,604                4.8044 USD
 Common                      Sell Transaction  5,846                 4.8048 USD
 Common                      Sell Transaction  1,409                 4.8049 USD
 Common                      Sell Transaction  1,253                 4.8050 USD
 Common                      Sell Transaction  3,999                 4.8056 USD
 Common                      Sell Transaction  300                   4.8067 USD
 Common                      Sell Transaction  1,800                 4.8069 USD
 Common                      Sell Transaction  285                   4.8070 USD
 Common                      Sell Transaction  20,501                4.8073 USD
 Common                      Sell Transaction  227                   4.8073 USD
 Common                      Sell Transaction  413                   4.8076 USD
 Common                      Sell Transaction  149                   4.8080 USD
 Common                      Sell Transaction  10,700                4.8098 USD
 Common                      Sell Transaction  15,608                4.8099 USD
 Common                      Sell Transaction  1,273                 4.8100 USD
 Common                      Sell Transaction  2,139                 4.8112 USD
 Common                      Sell Transaction  400                   4.8117 USD
 Common                      Sell Transaction  2,560                 4.8119 USD
 Common                      Sell Transaction  6,339                 4.8125 USD
 Common                      Sell Transaction  4,346                 4.8132 USD
 Common                      Sell Transaction  420                   4.8147 USD
 Common                      Sell Transaction  496                   4.8150 USD
 Common                      Sell Transaction  3,138                 4.8178 USD
 Common                      Sell Transaction  1,648                 4.8190 USD
 Common                      Sell Transaction  1,557                 4.8193 USD
 Common                      Sell Transaction  300                   4.8200 USD
 Common                      Sell Transaction  1,116                 4.8211 USD
 Common                      Sell Transaction  1,477                 4.8212 USD
 Common                      Sell Transaction  2,499                 4.8212 USD
 Common                      Sell Transaction  913                   4.8220 USD
 Common                      Sell Transaction  5,635                 4.8224 USD
 Common                      Sell Transaction  465                   4.8230 USD
 Common                      Sell Transaction  3,193                 4.8236 USD
 Common                      Sell Transaction  1,183                 4.8240 USD
 Common                      Sell Transaction  1,400                 4.8250 USD
 Common                      Sell Transaction  1,719                 4.8260 USD
 Common                      Sell Transaction  2,087                 4.8262 USD
 Common                      Sell Transaction  1,157                 4.8262 USD
 Common                      Sell Transaction  1,100                 4.8268 USD
 Common                      Sell Transaction  1,699                 4.8285 USD
 Common                      Sell Transaction  1                     4.8288 USD
 Common                      Sell Transaction  600                   4.8300 USD
 Common                      Sell Transaction  925                   4.8325 USD
 Common                      Sell Transaction  1,600                 4.8325 USD
 Common                      Sell Transaction  1,164                 4.8328 USD
 Common                      Sell Transaction  1,825                 4.8340 USD
 Common                      Sell Transaction  4,500                 4.8353 USD
 Common                      Sell Transaction  1,506                 4.8362 USD
 Common                      Sell Transaction  8                     4.8362 USD
 Common                      Sell Transaction  410                   4.8363 USD
 Common                      Sell Transaction  2,392                 4.8364 USD
 Common                      Sell Transaction  492                   4.8378 USD
 Common                      Sell Transaction  728                   4.8378 USD
 Common                      Sell Transaction  2,856                 4.8384 USD
 Common                      Sell Transaction  2,000                 4.8385 USD
 Common                      Sell Transaction  48                    4.8400 USD
 Common                      Sell Transaction  799                   4.8400 USD
 Common                      Sell Transaction  1,335                 4.8405 USD
 Common                      Sell Transaction  1,700                 4.8418 USD
 Common                      Sell Transaction  2,604                 4.8421 USD
 Common                      Sell Transaction  500                   4.8460 USD
 Common                      Sell Transaction  2,499                 4.8460 USD
 Common                      Sell Transaction  1,900                 4.8463 USD
 Common                      Sell Transaction  452                   4.8474 USD
 Common                      Sell Transaction  2,947                 4.8483 USD
 Common                      Sell Transaction  6,412                 4.8489 USD
 Common                      Sell Transaction  1,408                 4.8500 USD
 Common                      Sell Transaction  3,200                 4.8527 USD
 Common                      Sell Transaction  1,900                 4.8542 USD
 Common                      Sell Transaction  300                   4.8550 USD
 Common                      Sell Transaction  1,741                 4.8559 USD
 Common                      Sell Transaction  9,586                 4.8591 USD
 Common                      Sell Transaction  101                   4.8600 USD
 Common                      Sell Transaction  500                   4.8620 USD
 Common                      Sell Transaction  1,000                 4.8650 USD
 Common                      Sell Transaction  2,375                 4.8654 USD
 Common                      Sell Transaction  1,830                 4.8680 USD
 Common                      Sell Transaction  5                     4.8700 USD
 Common                      Sell Transaction  1,460                 4.8713 USD
 Common                      Sell Transaction  1,300                 4.8738 USD
 Common                      Sell Transaction  982                   4.8744 USD
 Common                      Sell Transaction  1,474                 4.8772 USD
 Common                      Sell Transaction  1,005                 4.8800 USD
 Common                      Sell Transaction  2                     4.8900 USD
 Common                      Sell Transaction  100                   4.8994 USD
 Common                      Sell Transaction  6,702                 4.8997 USD
 Common                      Sell Transaction  10                    4.9080 USD
 Common                      Sell Transaction  582                   4.9118 USD
 Common                      Sell Transaction  749                   4.9135 USD
 Common                      Sell Transaction  326                   4.9299 USD
 Common                      Sell Transaction  61,971                4.9354 USD
 Common                      Sell Transaction  6,451                 4.9500 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                                                         1,699                           4.8126 USD
 Common                      CFD                  Reducing long position                                                         3,601                           4.8126 USD
 Common                      CFD                  Increasing long position                                                       8,936                           4.8162 USD
 Common                      CFD                  Increasing long position                                                       70,497                          4.8305 USD
 Common                      CFD                  Increasing long position                                                       1,765                           4.8900 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                             2                                             6.0000 USD               American                       2025-Oct-17  0.2700 USD
 Common                      Call Option                           Buy Transaction                             10                                            7.0000 USD               American                       2026-Jan-16  0.3000 USD
 Common                      Call Option                           Buy Transaction                             8                                             5.0000 USD               American                       2025-Aug-15  0.3300 USD
 Common                      Put Option                            Buy Transaction                             1                                             4.0000 USD               American                       2026-Jan-16  0.4500 USD
 Common                      Call Option                           Buy Transaction                             1                                             6.0000 USD               American                       2026-Jan-16  0.5600 USD
 Common                      Put Option                            Buy Transaction                             7                                             5.0000 USD               American                       2026-Jan-16  0.8700 USD
 Common                      Put Option                            Buy Transaction                             1                                             5.0000 USD               American                       2026-Jan-16  0.8800 USD
 Common                      Call Option                           Buy Transaction                             1                                             4.0000 USD               American                       2025-Oct-17  1.1000 USD
 Common                      Call Option                           Buy Transaction                             1                                             4.0000 USD               American                       2025-Oct-17  1.2500 USD
 Common                      Call Option                           DVP Transaction                             60                                            5.0000 USD               American                       2025-Jul-18  0.1200 USD
 Common                      Call Option                           DVP Transaction                             2                                             6.0000 USD               American                       2025-Oct-17  0.2700 USD
 Common                      Call Option                           DVP Transaction                             20                                            5.0000 USD               American                       2025-Aug-15  0.3300 USD
 Common                      Put Option                            DVP Transaction                             1                                             4.0000 USD               American                       2026-Jan-16  0.4500 USD
 Common                      Call Option                           DVP Transaction                             1                                             6.0000 USD               American                       2026-Jan-16  0.5600 USD
 Common                      Call Option                           DVP Transaction                             1                                             4.0000 USD               American                       2025-Oct-17  1.2500 USD
 Common                      Call Option                           RVP Transaction                             60                                            5.0000 USD               American                       2025-Jul-18  0.1200 USD
 Common                      Call Option                           RVP Transaction                             2                                             6.0000 USD               American                       2025-Oct-17  0.2700 USD
 Common                      Call Option                           RVP Transaction                             20                                            5.0000 USD               American                       2025-Aug-15  0.3300 USD
 Common                      Put Option                            RVP Transaction                             1                                             4.0000 USD               American                       2026-Jan-16  0.4500 USD
 Common                      Call Option                           RVP Transaction                             1                                             6.0000 USD               American                       2026-Jan-16  0.5600 USD
 Common                      Call Option                           RVP Transaction                             1                                             4.0000 USD               American                       2025-Oct-17  1.2500 USD
 Common                      Call Option                           Sell Transaction                            24                                            5.0000 USD               American                       2025-Jul-18  0.1200 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:  16 July 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                      Put Option                            Purchased             -700                                                        7.0 USD                  American                       18/07/2025

 Common                      Call Option                           Purchased             600,000                                                     6.0 USD                  American                       18/07/2025

 Common                      Call Option                           Purchased             3,500                                                       5.0 USD                  American                       15/08/2025

 Common                      Put Option                            Purchased             -201,700                                                    4.0 USD                  American                       16/01/2026

 Common                      Put Option                            Purchased             -7,200                                                      3.0 USD                  American                       18/07/2025

 Common                      Call Option                           Purchased             1,000                                                       3.0 USD                  American                       15/08/2025

 Common                      Put Option                            Purchased             -200                                                        6.0 USD                  American                       16/01/2026

 Common                      Put Option                            Purchased             -2,400                                                      4.0 USD                  American                       15/08/2025

 Common                      Call Option                           Purchased             300                                                         2.0 USD                  American                       17/10/2025

 Common                      Put Option                            Purchased             -100                                                        7.0 USD                  American                       17/10/2025

 Common                      Put Option                            Purchased             -12,000                                                     3.0 USD                  American                       15/08/2025

 Common                      Put Option                            Purchased             -11,900                                                     4.0 USD                  American                       18/07/2025

 Common                      Call Option                           Purchased             10,400                                                      5.0 USD                  American                       16/01/2026

 Common                      Call Option                           Purchased             700                                                         10.0 USD                 American                       18/07/2025

 Common                      Put Option                            Purchased             -13,100                                                     3.0 USD                  American                       16/01/2026

 Common                      Put Option                            Purchased             -900                                                        5.0 USD                  American                       17/07/2026

 Common                      Call Option                           Purchased             270,900                                                     6.0 USD                  American                       18/07/2025

 Common                      Call Option                           Purchased             300                                                         15.0 USD                 American                       16/01/2026

 Common                      Put Option                            Purchased             -700                                                        6.0 USD                  American                       18/07/2025

 Common                      Call Option                           Purchased             18,300                                                      4.0 USD                  American                       17/10/2025

 Common                      Put Option                            Purchased             -200                                                        7.0 USD                  American                       15/08/2025

 Common                      Call Option                           Purchased             2,900                                                       10.0 USD                 American                       16/01/2026

 Common                      Put Option                            Purchased             -900                                                        5.0 USD                  American                       17/10/2025

 Common                      Call Option                           Purchased             2,000                                                       3.0 USD                  American                       18/07/2025

 Common                      Call Option                           Sold                  -2,000                                                      3.0 USD                  American                       17/10/2025

 Common                      Call Option                           Sold                  -105,500                                                    5.0 USD                  American                       17/10/2025

 Common                      Call Option                           Sold                  -1,400                                                      3.0 USD                  American                       16/01/2026

 Common                      Call Option                           Sold                  -1,400                                                      4.0 USD                  American                       16/01/2026

 Common                      Call Option                           Sold                  -300                                                        3.0 USD                  American                       17/07/2026

 Common                      Put Option                            Sold                  300                                                         5.0 USD                  American                       18/07/2025

 Common                      Put Option                            Sold                  90,700                                                      5.0 USD                  American                       16/01/2026

 Common                      Call Option                           Sold                  -36,900                                                     5.0 USD                  American                       17/07/2026

 Common                      Call Option                           Sold                  -100                                                        2.0 USD                  American                       17/07/2026

 Common                      Call Option                           Sold                  -29,400                                                     8.0 USD                  American                       18/07/2025

 Common                      Call Option                           Sold                  -200                                                        7.0 USD                  American                       18/07/2025

 Common                      Call Option                           Sold                  -1,400                                                      6.0 USD                  American                       17/10/2025

 Common                      Call Option                           Sold                  -117,200                                                    7.0 USD                  American                       16/01/2026

 Common                      Call Option                           Sold                  -645,800                                                    5.0 USD                  American                       18/07/2025

 Common                      Call Option                           Sold                  -700                                                        12.0 USD                 American                       16/01/2026

 Common                      Call Option                           Sold                  -1,100                                                      7.0 USD                  American                       17/07/2026

 Common                      Put Option                            Sold                  2,600                                                       3.0 USD                  American                       17/10/2025

 Common                      Call Option                           Sold                  -2,500                                                      4.0 USD                  American                       17/07/2026

 Common                      Call Option                           Sold                  -152,500                                                    6.0 USD                  American                       16/01/2026

 Common                      Call Option                           Sold                  -2,400                                                      10.0 USD                 American                       17/07/2026

 Common                      Call Option                           Sold                  -8,300                                                      4.0 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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