REG - Two Sigma Inv LP Dowlais Group PLC - Form 8.3 - Dowlais Group plc
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RNS Number : 2992X Two Sigma Investments, LP 29 August 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: Two Sigma Investments, LP, in its capacity as investment adviser and on behalf
of its affiliate fund managers under common control that exercise independent
investment discretion ("Two Sigma").
(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.
(c) Name of offeror/offeree in relation to whose relevant securities this form Dowlais Group plc
relates:
Use a separate form for each offeror/offeree
(d) If an exempt fund manager connected with an offeror/offeree, state this
and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken: 28/08/2025
For an opening position disclosure, state the latest practicable date
prior to the disclosure
*In addition, Two Sigma has dealt on previous dates during the offer period as
attached at the end of this form
(f) In addition to the company in 1(c) above, is the discloser making Yes - American Axle & Manufacturing Holdings, Inc.
disclosures in respect of any other party to the offer?
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: 1p ordinary
Interests Short positions
Number % Number %
(1) Relevant securities owned and/or controlled:
(2) Cash-settled derivatives: 141500 0.01 122388 0.00
(3) Stock-settled derivatives (including options) and agreements to
purchase/sell:
TOTAL: 141500 0.01 122388 0.00
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:
Details, including nature of the rights concerned and relevant percentages:
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
(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
1p ordinary Security Based Swap Increasing Long 2300 0.7949 GBP
(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.
(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? NO
Date of disclosure: 29 August 2025
Contact name: Danny Yo
Telephone number*: +1 (212) 625 5700
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) .
*Previous dates of dealing
Date of Dealing Class of relevant security Product description e.g. CFD Nature of dealing Number of Securities Price Per Unit
e.g. opening/closing a long/short position, increasing/reducing a long/short
position
15/07/2025 1p ordinary Security Based Swap Increasing Long 4700 0.7186 GBP
16/07/2025 1p ordinary Security Based Swap Reducing Long 4700 0.7245 GBP
17/07/2025 1p ordinary Security Based Swap Reducing Short 10600 0.7256 GBP
18/07/2025 1p ordinary Security Based Swap Reducing Short 24900 0.7203 GBP
22/07/2025 1p ordinary Security Based Swap Reducing Long 6200 0.7157 GBP
23/07/2025 1p ordinary Security Based Swap Reducing Long 4600 0.7175 GBP
24/07/2025 1p ordinary Security Based Swap Reducing Long 18300 0.7206 GBP
25/07/2025 1p ordinary Security Based Swap Reducing Long 20500 0.7193 GBP
28/07/2025 1p ordinary Security Based Swap Reducing Long 5800 0.7294 GBP
29/07/2025 1p ordinary Security Based Swap Reducing Long 7200 0.7200 GBP
30/07/2025 1p ordinary Security Based Swap Reducing Long 34400 0.7050 GBP
31/07/2025 1p ordinary Security Based Swap Increasing Short 62969 0.6974 GBP
31/07/2025 1p ordinary Security Based Swap Reducing Long 25631 0.6953 GBP
01/08/2025 1p ordinary Security Based Swap Increasing Short 26000 0.6982 GBP
04/08/2025 1p ordinary Security Based Swap Increasing Short 9600 0.7020 GBP
05/08/2025 1p ordinary Security Based Swap Increasing Short 5400 0.7014 GBP
06/08/2025 1p ordinary Security Based Swap Reducing Short 5600 0.6987 GBP
07/08/2025 1p ordinary Security Based Swap Increasing Short 11800 0.7083 GBP
08/08/2025 1p ordinary Security Based Swap Increasing Long 5600 0.7143 GBP
11/08/2025 1p ordinary Security Based Swap Increasing Long 2200 0.7405 GBP
12/08/2025 1p ordinary Security Based Swap Reducing Short 3700 0.7644 GBP
12/08/2025 1p ordinary Security Based Swap Increasing Long 3100 0.7650 GBP
13/08/2025 1p ordinary Security Based Swap Reducing Short 10300 0.7779 GBP
13/08/2025 1p ordinary Security Based Swap Increasing Long 9500 0.7742 GBP
13/08/2025 1p ordinary Security Based Swap Reducing Short 19500 0.7788 GBP
14/08/2025 1p ordinary Security Based Swap Increasing Long 11500 0.7777 GBP
14/08/2025 1p ordinary Security Based Swap Reducing Short 19347 0.7736 GBP
14/08/2025 1p ordinary Security Based Swap Reducing Short 11500 0.7704 GBP
15/08/2025 1p ordinary Security Based Swap Reducing Short 22400 0.7740 GBP
15/08/2025 1p ordinary Security Based Swap Reducing Short 4753 0.7761 GBP
15/08/2025 1p ordinary Security Based Swap Increasing Long 2300 0.7801 GBP
18/08/2025 1p ordinary Security Based Swap Reducing Short 9900 0.7640 GBP
18/08/2025 1p ordinary Security Based Swap Increasing Long 3000 0.7612 GBP
19/08/2025 1p ordinary Security Based Swap Increasing Long 9900 0.7642 GBP
19/08/2025 1p ordinary Security Based Swap Increasing Short 4000 0.7671 GBP
20/08/2025 1p ordinary Security Based Swap Increasing Long 10900 0.7552 GBP
21/08/2025 1p ordinary Security Based Swap Increasing Short 9100 0.7626 GBP
21/08/2025 1p ordinary Security Based Swap Increasing Long 7000 0.7632 GBP
22/08/2025 1p ordinary Security Based Swap Increasing Long 2800 0.7720 GBP
22/08/2025 1p ordinary Security Based Swap Increasing Short 8000 0.7723 GBP
26/08/2025 1p ordinary Security Based Swap Increasing Long 4800 0.7762 GBP
27/08/2025 1p ordinary Security Based Swap Increasing Long 3000 0.7760 GBP
27/08/2025 1p ordinary Security Based Swap Increasing Short 8600 0.7899 GBP
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