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RNS Number : 3885J Citadel Group 20 May 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: 19 May 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: 1,190,086 1.00 19,246 0.01
(2) Cash-settled derivatives: 802,019 0.67 0 0.00
(3) Stock-settled derivatives (including options) and agreements to 1,970,800 1.66 947,300 0.79
purchase/sell:
3,962,905 3.33 966,546 0.81
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 870 4.3340 USD
Common Buy Transaction 6,000 4.3387 USD
Common Buy Transaction 200 4.3450 USD
Common Buy Transaction 620 4.3500 USD
Common Buy Transaction 200 4.3550 USD
Common Buy Transaction 300 4.3567 USD
Common Buy Transaction 307 4.3600 USD
Common Buy Transaction 4,900 4.3632 USD
Common Buy Transaction 1,014 4.3695 USD
Common Buy Transaction 1,822 4.3700 USD
Common Buy Transaction 400 4.3712 USD
Common Buy Transaction 700 4.3721 USD
Common Buy Transaction 39,884 4.3745 USD
Common Buy Transaction 100 4.3750 USD
Common Buy Transaction 1,244 4.3756 USD
Common Buy Transaction 1,100 4.3786 USD
Common Buy Transaction 1,300 4.3790 USD
Common Buy Transaction 3,200 4.3800 USD
Common Buy Transaction 559 4.4050 USD
Common Buy Transaction 1,858 4.4093 USD
Common Buy Transaction 299 4.4100 USD
Common Buy Transaction 300 4.4233 USD
Common Buy Transaction 142 4.4300 USD
Common Buy Transaction 8,091 4.4338 USD
Common Buy Transaction 1,100 4.4373 USD
Common Buy Transaction 157 4.4400 USD
Common Buy Transaction 150 4.4500 USD
Common Buy Transaction 1 4.4508 USD
Common Buy Transaction 500 4.4660 USD
Common Buy Transaction 70 4.4671 USD
Common Buy Transaction 1,514 4.4684 USD
Common Buy Transaction 341 4.4688 USD
Common Buy Transaction 550 4.4782 USD
Common Buy Transaction 1,529 4.4795 USD
Common Buy Transaction 2,676 4.4800 USD
Common Buy Transaction 1,156 4.4807 USD
Common Buy Transaction 5,899 4.4913 USD
Common Buy Transaction 636 4.4923 USD
Common Buy Transaction 500 4.4940 USD
Common Buy Transaction 1 4.4992 USD
Common Buy Transaction 2,875 4.5000 USD
Common Buy Transaction 42,484 4.5012 USD
Common Buy Transaction 1,890 4.5018 USD
Common Buy Transaction 310 4.5034 USD
Common Buy Transaction 491 4.5064 USD
Common Buy Transaction 342 4.5065 USD
Common Buy Transaction 300 4.5100 USD
Common Buy Transaction 570 4.5150 USD
Common Buy Transaction 20,242 4.5154 USD
Common Buy Transaction 1,000 4.5160 USD
Common Buy Transaction 16 4.5169 USD
Common Buy Transaction 100 4.5200 USD
Common Buy Transaction 279 4.5221 USD
Common Buy Transaction 507 4.5221 USD
Common Buy Transaction 360 4.5232 USD
Common Buy Transaction 134 4.5246 USD
Common Buy Transaction 3,200 4.5275 USD
Common Buy Transaction 135,556 4.5300 USD
Common Buy Transaction 4,659 4.5301 USD
Common Buy Transaction 606 4.5302 USD
Common Buy Transaction 230 4.5309 USD
Common Buy Transaction 710 4.5315 USD
Common Buy Transaction 2,400 4.5325 USD
Common Buy Transaction 70 4.5330 USD
Common Buy Transaction 1,800 4.5333 USD
Common Buy Transaction 142 4.5346 USD
Common Buy Transaction 1,000 4.5370 USD
Common Buy Transaction 90 4.5371 USD
Common Buy Transaction 400 4.5375 USD
Common Buy Transaction 514 4.5379 USD
Common Buy Transaction 1,623 4.5400 USD
Common Buy Transaction 933 4.5411 USD
Common Buy Transaction 6,078 4.5438 USD
Common Buy Transaction 200 4.5450 USD
Common Buy Transaction 13,405 4.5454 USD
Common Buy Transaction 76 4.5461 USD
Common Buy Transaction 30 4.5463 USD
Common Buy Transaction 1,470 4.5483 USD
Common Buy Transaction 21,416 4.5487 USD
Common Buy Transaction 1,375 4.5500 USD
Common Buy Transaction 2,020 4.5523 USD
Common Buy Transaction 600 4.5567 USD
Common DVP Transaction 732 4.3800 USD
Common DVP Transaction 103 4.4480 USD
Common DVP Transaction 72 4.4850 USD
Common DVP Transaction 96 4.5000 USD
Common DVP Transaction 1 4.5100 USD
Common DVP Transaction 1,222 4.5150 USD
Common DVP Transaction 778 4.5150 USD
Common DVP Transaction 189 4.5150 USD
Common DVP Transaction 15 4.5153 USD
Common DVP Transaction 190 4.5203 USD
Common DVP Transaction 471 4.5243 USD
Common DVP Transaction 199 4.5250 USD
Common DVP Transaction 207 4.5257 USD
Common DVP Transaction 161,334 4.5285 USD
Common DVP Transaction 122,971 4.5300 USD
Common DVP Transaction 253 4.5320 USD
Common DVP Transaction 456 4.5334 USD
Common DVP Transaction 101 4.5350 USD
Common DVP Transaction 42 4.5352 USD
Common DVP Transaction 15 4.5353 USD
Common DVP Transaction 295 4.5385 USD
Common DVP Transaction 1,852 4.5450 USD
Common DVP Transaction 401 4.5450 USD
Common DVP Transaction 100 4.5550 USD
Common DVP Transaction 96 4.5600 USD
Common RVP Transaction 735 4.3800 USD
Common RVP Transaction 108 4.3900 USD
Common RVP Transaction 100 4.4500 USD
Common RVP Transaction 600 4.4700 USD
Common RVP Transaction 700 4.4979 USD
Common RVP Transaction 16,902 4.5040 USD
Common RVP Transaction 7,327 4.5096 USD
Common RVP Transaction 962 4.5131 USD
Common RVP Transaction 500 4.5150 USD
Common RVP Transaction 889 4.5150 USD
Common RVP Transaction 389 4.5150 USD
Common RVP Transaction 222 4.5150 USD
Common RVP Transaction 17,887 4.5168 USD
Common RVP Transaction 600 4.5208 USD
Common RVP Transaction 6,971 4.5279 USD
Common RVP Transaction 16,337 4.5281 USD
Common RVP Transaction 2,102 4.5281 USD
Common RVP Transaction 5,464 4.5300 USD
Common RVP Transaction 125,602 4.5300 USD
Common RVP Transaction 3,298 4.5308 USD
Common RVP Transaction 2,777 4.5314 USD
Common RVP Transaction 14,120 4.5322 USD
Common RVP Transaction 3,021 4.5335 USD
Common RVP Transaction 2,602 4.5346 USD
Common RVP Transaction 101 4.5350 USD
Common RVP Transaction 4,913 4.5353 USD
Common RVP Transaction 3,320 4.5354 USD
Common RVP Transaction 5,188 4.5371 USD
Common RVP Transaction 500 4.5390 USD
Common RVP Transaction 5,815 4.5394 USD
Common RVP Transaction 1,894 4.5396 USD
Common RVP Transaction 631 4.5400 USD
Common RVP Transaction 1,953 4.5402 USD
Common RVP Transaction 3,300 4.5411 USD
Common RVP Transaction 2,509 4.5432 USD
Common RVP Transaction 25,212 4.5433 USD
Common RVP Transaction 4,426 4.5446 USD
Common RVP Transaction 1,752 4.5450 USD
Common RVP Transaction 11 4.5491 USD
Common RVP Transaction 125 4.5494 USD
Common RVP Transaction 24 4.5500 USD
Common RVP Transaction 302 4.5549 USD
Common Sell Transaction 2,100 4.3357 USD
Common Sell Transaction 1,811 4.3366 USD
Common Sell Transaction 10 4.3400 USD
Common Sell Transaction 1,000 4.3420 USD
Common Sell Transaction 500 4.3450 USD
Common Sell Transaction 589 4.3450 USD
Common Sell Transaction 182 4.3500 USD
Common Sell Transaction 2,000 4.3550 USD
Common Sell Transaction 4,526 4.3600 USD
Common Sell Transaction 3,600 4.3699 USD
Common Sell Transaction 494 4.3700 USD
Common Sell Transaction 1,010 4.3714 USD
Common Sell Transaction 848 4.3740 USD
Common Sell Transaction 39,884 4.3745 USD
Common Sell Transaction 7,280 4.3785 USD
Common Sell Transaction 220 4.3800 USD
Common Sell Transaction 809 4.3900 USD
Common Sell Transaction 127 4.3928 USD
Common Sell Transaction 300 4.3933 USD
Common Sell Transaction 200 4.3950 USD
Common Sell Transaction 131 4.4163 USD
Common Sell Transaction 611 4.4165 USD
Common Sell Transaction 900 4.4189 USD
Common Sell Transaction 281 4.4211 USD
Common Sell Transaction 742 4.4237 USD
Common Sell Transaction 20 4.4300 USD
Common Sell Transaction 1,916 4.4335 USD
Common Sell Transaction 1,420 4.4357 USD
Common Sell Transaction 986 4.4377 USD
Common Sell Transaction 200 4.4400 USD
Common Sell Transaction 1,166 4.4423 USD
Common Sell Transaction 745 4.4423 USD
Common Sell Transaction 600 4.4550 USD
Common Sell Transaction 1,832 4.4607 USD
Common Sell Transaction 400 4.4650 USD
Common Sell Transaction 900 4.4711 USD
Common Sell Transaction 2,096 4.4714 USD
Common Sell Transaction 661 4.4792 USD
Common Sell Transaction 700 4.4800 USD
Common Sell Transaction 4,013 4.4856 USD
Common Sell Transaction 1,165 4.4865 USD
Common Sell Transaction 1,000 4.4870 USD
Common Sell Transaction 812 4.4884 USD
Common Sell Transaction 6,954 4.4900 USD
Common Sell Transaction 216 4.4900 USD
Common Sell Transaction 2 4.4921 USD
Common Sell Transaction 800 4.4925 USD
Common Sell Transaction 1,152 4.4935 USD
Common Sell Transaction 152 4.4950 USD
Common Sell Transaction 1,131 4.4979 USD
Common Sell Transaction 5,552 4.4982 USD
Common Sell Transaction 1,700 4.4982 USD
Common Sell Transaction 600 4.4983 USD
Common Sell Transaction 1,185 4.5000 USD
Common Sell Transaction 1,400 4.5014 USD
Common Sell Transaction 182 4.5015 USD
Common Sell Transaction 300 4.5033 USD
Common Sell Transaction 47,067 4.5046 USD
Common Sell Transaction 1,489 4.5060 USD
Common Sell Transaction 1,907 4.5093 USD
Common Sell Transaction 289 4.5100 USD
Common Sell Transaction 3,492 4.5179 USD
Common Sell Transaction 1,651 4.5188 USD
Common Sell Transaction 462 4.5191 USD
Common Sell Transaction 2,500 4.5200 USD
Common Sell Transaction 1,313 4.5227 USD
Common Sell Transaction 33,647 4.5274 USD
Common Sell Transaction 55 4.5291 USD
Common Sell Transaction 164 4.5292 USD
Common Sell Transaction 28,017 4.5293 USD
Common Sell Transaction 136,081 4.5300 USD
Common Sell Transaction 355 4.5315 USD
Common Sell Transaction 10,761 4.5323 USD
Common Sell Transaction 1,898 4.5327 USD
Common Sell Transaction 1,148 4.5327 USD
Common Sell Transaction 2,795 4.5336 USD
Common Sell Transaction 755 4.5340 USD
Common Sell Transaction 1,115 4.5350 USD
Common Sell Transaction 26 4.5358 USD
Common Sell Transaction 330 4.5360 USD
Common Sell Transaction 11,369 4.5375 USD
Common Sell Transaction 1,280 4.5376 USD
Common Sell Transaction 512 4.5376 USD
Common Sell Transaction 34,542 4.5378 USD
Common Sell Transaction 800 4.5381 USD
Common Sell Transaction 39,001 4.5383 USD
Common Sell Transaction 311 4.5395 USD
Common Sell Transaction 90 4.5398 USD
Common Sell Transaction 9,786 4.5400 USD
Common Sell Transaction 11,847 4.5412 USD
Common Sell Transaction 527 4.5415 USD
Common Sell Transaction 546 4.5418 USD
Common Sell Transaction 112 4.5423 USD
Common Sell Transaction 3,186 4.5432 USD
Common Sell Transaction 1,429 4.5436 USD
Common Sell Transaction 10,600 4.5438 USD
Common Sell Transaction 525 4.5441 USD
Common Sell Transaction 2,782 4.5443 USD
Common Sell Transaction 900 4.5450 USD
Common Sell Transaction 65 4.5451 USD
Common Sell Transaction 49 4.5451 USD
Common Sell Transaction 211 4.5453 USD
Common Sell Transaction 15 4.5453 USD
Common Sell Transaction 8,196 4.5455 USD
Common Sell Transaction 546 4.5456 USD
Common Sell Transaction 957 4.5464 USD
Common Sell Transaction 400 4.5475 USD
Common Sell Transaction 900 4.5478 USD
Common Sell Transaction 543 4.5500 USD
Common Sell Transaction 140 4.5502 USD
Common Sell Transaction 3,225 4.5504 USD
Common Sell Transaction 3,407 4.5544 USD
Common Sell Transaction 225 4.5550 USD
Common Sell Transaction 111 4.5559 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 Increasing long position 700 4.3886 USD
Common CFD Increasing long position 3,300 4.4436 USD
Common CFD Increasing long position 500 4.4550 USD
Common CFD Increasing long position 24,657 4.5309 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 DVP Transaction 25 5.0000 USD American 2025-Jun-20 0.1460 USD
Common Call Option DVP Transaction 20 5.0000 USD American 2026-Jan-16 0.8000 USD
Common Call Option RVP Transaction 5 5.0000 USD American 2025-Jun-20 0.1300 USD
Common Call Option RVP Transaction 20 5.0000 USD American 2025-Jun-20 0.1500 USD
Common Call Option RVP Transaction 20 5.0000 USD American 2026-Jan-16 0.8000 USD
(ii) Exercise
Class of relevant security Product description Exercising/ exercised against Number of securities Exercise price per unit
e.g. call option
Common Put Option Exercised against 10 8.0000 USD
(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: 20 May 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 -8,500 5.0 USD American 16/01/2026
Common Put Option Purchased -8,000 4.0 USD American 20/06/2025
Common Put Option Purchased -900 5.0 USD American 17/07/2026
Common Call Option Purchased 1,000 3.0 USD American 18/07/2025
Common Call Option Purchased 1,000,000 5.0 USD American 20/06/2025
Common Put Option Purchased -300 5.0 USD American 17/10/2025
Common Call Option Purchased 800 6.0 USD American 17/10/2025
Common Call Option Purchased 1,000 6.0 USD American 20/06/2025
Common Call Option Purchased 700 10.0 USD American 18/07/2025
Common Call Option Purchased 300 2.0 USD American 17/10/2025
Common Put Option Purchased -13,000 3.0 USD American 16/01/2026
Common Call Option Purchased 2,000 7.0 USD American 20/06/2025
Common Put Option Purchased -400 5.0 USD American 20/06/2025
Common Put Option Purchased -700 7.0 USD American 18/07/2025
Common Call Option Purchased 245,600 6.0 USD American 18/07/2025
Common Call Option Purchased 2,600 10.0 USD American 16/01/2026
Common Call Option Purchased 9,200 5.0 USD American 16/01/2026
Common Put Option Purchased -6,000 4.0 USD American 18/07/2025
Common Call Option Purchased 300 15.0 USD American 16/01/2026
Common Call Option Purchased 7,900 4.0 USD American 17/10/2025
Common Call Option Purchased 300 8.0 USD American 20/06/2025
Common Put Option Purchased -1,400 4.0 USD American 16/01/2026
Common Call Option Purchased 600,000 6.0 USD American 18/07/2025
Common Put Option Sold 100 3.0 USD American 20/06/2025
Common Call Option Sold -2,300 4.0 USD American 20/06/2025
Common Call Option Sold -118,100 7.0 USD American 16/01/2026
Common Call Option Sold -605,100 5.0 USD American 18/07/2025
Common Call Option Sold -29,400 8.0 USD American 18/07/2025
Common Call Option Sold -1,300 5.0 USD American 20/06/2025
Common Call Option Sold -500 4.0 USD American 16/01/2026
Common Call Option Sold -100 2.0 USD American 17/07/2026
Common Call Option Sold -8,300 4.0 USD American 18/07/2025
Common Call Option Sold -95,200 5.0 USD American 17/10/2025
Common Call Option Sold -3,400 10.0 USD American 17/07/2026
Common Call Option Sold -200 3.0 USD American 20/06/2025
Common Put Option Sold 100 5.0 USD American 18/07/2025
Common Call Option Sold -36,100 5.0 USD American 17/07/2026
Common Call Option Sold -2,000 3.0 USD American 17/10/2025
Common Call Option Sold -200 7.0 USD American 18/07/2025
Common Call Option Sold -800 6.0 USD American 16/01/2026
Common Call Option Sold -1,400 3.0 USD American 16/01/2026
Common Call Option Sold -800 12.0 USD American 16/01/2026
Common Put Option Sold 98,900 8.0 USD American 20/06/2025
Common Call Option Sold -400 3.0 USD American 17/07/2026
Common Call Option Sold -2,500 4.0 USD American 17/07/2026
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
(http://www.thetakeoverpanel.org.uk) .
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