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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 : 0057N  Citadel Group  16 June 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:                                       13 June 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:                     1,719,519  1.44   42,271     0.03
 (2) Cash-settled derivatives:                                        544,004    0.45   0          0.00

 (3) Stock-settled derivatives (including options) and agreements to  989,500    0.83   1,001,600  0.84
 purchase/sell:
                                                                      3,253,023  2.74   1,043,871  0.87

      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   72                    4.1210 USD
 Common                      Buy Transaction   436                   4.1211 USD
 Common                      Buy Transaction   400                   4.1250 USD
 Common                      Buy Transaction   3                     4.1267 USD
 Common                      Buy Transaction   13,240                4.1300 USD
 Common                      Buy Transaction   6,172                 4.1303 USD
 Common                      Buy Transaction   254                   4.1305 USD
 Common                      Buy Transaction   404                   4.1336 USD
 Common                      Buy Transaction   11,713                4.1350 USD
 Common                      Buy Transaction   700                   4.1357 USD
 Common                      Buy Transaction   1,200                 4.1358 USD
 Common                      Buy Transaction   1,063                 4.1364 USD
 Common                      Buy Transaction   908                   4.1366 USD
 Common                      Buy Transaction   3,688                 4.1389 USD
 Common                      Buy Transaction   10,523                4.1399 USD
 Common                      Buy Transaction   74,271                4.1400 USD
 Common                      Buy Transaction   864                   4.1419 USD
 Common                      Buy Transaction   1,600                 4.1447 USD
 Common                      Buy Transaction   1,000                 4.1495 USD
 Common                      Buy Transaction   100                   4.1550 USD
 Common                      Buy Transaction   151                   4.1550 USD
 Common                      Buy Transaction   1                     4.1561 USD
 Common                      Buy Transaction   5,332                 4.1573 USD
 Common                      Buy Transaction   23                    4.1591 USD
 Common                      Buy Transaction   10,025                4.1594 USD
 Common                      Buy Transaction   2,951                 4.1594 USD
 Common                      Buy Transaction   9,346                 4.1600 USD
 Common                      Buy Transaction   900                   4.1609 USD
 Common                      Buy Transaction   131                   4.1624 USD
 Common                      Buy Transaction   1,856                 4.1684 USD
 Common                      Buy Transaction   500                   4.1750 USD
 Common                      Buy Transaction   1,290                 4.1796 USD
 Common                      Buy Transaction   1                     4.1862 USD
 Common                      Buy Transaction   114                   4.1870 USD
 Common                      Buy Transaction   100                   4.1900 USD
 Common                      Buy Transaction   1,000                 4.1950 USD
 Common                      Buy Transaction   667                   4.1952 USD
 Common                      Buy Transaction   20                    4.2000 USD
 Common                      Buy Transaction   1,098                 4.2071 USD
 Common                      Buy Transaction   700                   4.2071 USD
 Common                      Buy Transaction   754                   4.2078 USD
 Common                      Buy Transaction   389                   4.2079 USD
 Common                      Buy Transaction   70                    4.2100 USD
 Common                      Buy Transaction   1,051                 4.2114 USD
 Common                      Buy Transaction   938                   4.2114 USD
 Common                      Buy Transaction   1,008                 4.2119 USD
 Common                      Buy Transaction   200                   4.2150 USD
 Common                      Buy Transaction   826                   4.2152 USD
 Common                      Buy Transaction   1,976                 4.2172 USD
 Common                      Buy Transaction   681                   4.2179 USD
 Common                      Buy Transaction   9                     4.2189 USD
 Common                      Buy Transaction   310                   4.2192 USD
 Common                      Buy Transaction   111                   4.2200 USD
 Common                      Buy Transaction   57,495                4.2227 USD
 Common                      Buy Transaction   1,273                 4.2249 USD
 Common                      Buy Transaction   266                   4.2273 USD
 Common                      Buy Transaction   4,310                 4.2299 USD
 Common                      Buy Transaction   13,948                4.2317 USD
 Common                      Buy Transaction   38                    4.2350 USD
 Common                      Buy Transaction   377                   4.2376 USD
 Common                      Buy Transaction   1,200                 4.2392 USD
 Common                      Buy Transaction   1,400                 4.2396 USD
 Common                      Buy Transaction   139                   4.2407 USD
 Common                      Buy Transaction   1,400                 4.2421 USD
 Common                      Buy Transaction   500                   4.2440 USD
 Common                      Buy Transaction   25                    4.2452 USD
 Common                      Buy Transaction   2,663                 4.2572 USD
 Common                      Buy Transaction   55                    4.2616 USD
 Common                      Buy Transaction   145                   4.2620 USD
 Common                      Buy Transaction   2,917                 4.2633 USD
 Common                      Buy Transaction   470                   4.2650 USD
 Common                      Buy Transaction   1,435                 4.2689 USD
 Common                      Buy Transaction   6,176                 4.2700 USD
 Common                      Buy Transaction   24                    4.2750 USD
 Common                      Buy Transaction   100                   4.2800 USD
 Common                      Buy Transaction   600                   4.2817 USD
 Common                      Buy Transaction   200                   4.2850 USD
 Common                      Buy Transaction   1,320                 4.2897 USD
 Common                      Buy Transaction   400                   4.2900 USD
 Common                      Buy Transaction   1,000                 4.2940 USD
 Common                      Buy Transaction   3,069                 4.2988 USD
 Common                      Buy Transaction   100                   4.3000 USD
 Common                      Buy Transaction   300                   4.3100 USD
 Common                      Buy Transaction   1,121                 4.3167 USD
 Common                      Buy Transaction   1,478                 4.3180 USD
 Common                      Buy Transaction   1                     4.3200 USD
 Common                      Buy Transaction   261                   4.3208 USD
 Common                      Buy Transaction   143                   4.3250 USD
 Common                      Buy Transaction   427                   4.3253 USD
 Common                      Buy Transaction   3,400                 4.3400 USD
 Common                      Buy Transaction   23                    4.3500 USD
 Common                      DVP Transaction   1                     4.1300 USD
 Common                      DVP Transaction   1,055                 4.1315 USD
 Common                      DVP Transaction   8                     4.1350 USD
 Common                      DVP Transaction   9                     4.1378 USD
 Common                      DVP Transaction   68,954                4.1400 USD
 Common                      DVP Transaction   35                    4.1543 USD
 Common                      DVP Transaction   9                     4.1600 USD
 Common                      DVP Transaction   8                     4.1650 USD
 Common                      DVP Transaction   13                    4.1677 USD
 Common                      DVP Transaction   28                    4.1682 USD
 Common                      DVP Transaction   8                     4.1750 USD
 Common                      DVP Transaction   180                   4.1807 USD
 Common                      DVP Transaction   1                     4.2500 USD
 Common                      DVP Transaction   1                     4.2700 USD
 Common                      DVP Transaction   2                     4.2800 USD
 Common                      DVP Transaction   2                     4.2850 USD
 Common                      DVP Transaction   1                     4.2900 USD
 Common                      DVP Transaction   1,829                 4.3000 USD
 Common                      DVP Transaction   1                     4.3100 USD
 Common                      DVP Transaction   1                     4.3400 USD
 Common                      RVP Transaction   1,005                 4.1305 USD
 Common                      RVP Transaction   68,954                4.1400 USD
 Common                      RVP Transaction   13                    4.1415 USD
 Common                      RVP Transaction   26                    4.1450 USD
 Common                      RVP Transaction   50                    4.1500 USD
 Common                      RVP Transaction   120                   4.1587 USD
 Common                      RVP Transaction   13                    4.1700 USD
 Common                      RVP Transaction   26                    4.1704 USD
 Common                      RVP Transaction   12                    4.1750 USD
 Common                      RVP Transaction   35                    4.1877 USD
 Common                      RVP Transaction   28                    4.2036 USD
 Common                      RVP Transaction   10                    4.2150 USD
 Common                      RVP Transaction   9                     4.2189 USD
 Common                      RVP Transaction   7                     4.2357 USD
 Common                      RVP Transaction   1                     4.2500 USD
 Common                      RVP Transaction   1                     4.2700 USD
 Common                      RVP Transaction   2                     4.2800 USD
 Common                      RVP Transaction   2                     4.2850 USD
 Common                      RVP Transaction   1                     4.2900 USD
 Common                      RVP Transaction   1,829                 4.3000 USD
 Common                      RVP Transaction   1                     4.3100 USD
 Common                      RVP Transaction   1                     4.3400 USD
 Common                      Sell Transaction  15                    4.1253 USD
 Common                      Sell Transaction  14                    4.1264 USD
 Common                      Sell Transaction  300                   4.1283 USD
 Common                      Sell Transaction  1,446                 4.1300 USD
 Common                      Sell Transaction  1,124                 4.1300 USD
 Common                      Sell Transaction  2,742                 4.1303 USD
 Common                      Sell Transaction  411                   4.1305 USD
 Common                      Sell Transaction  66                    4.1312 USD
 Common                      Sell Transaction  298                   4.1330 USD
 Common                      Sell Transaction  98                    4.1350 USD
 Common                      Sell Transaction  179                   4.1350 USD
 Common                      Sell Transaction  83                    4.1351 USD
 Common                      Sell Transaction  261                   4.1352 USD
 Common                      Sell Transaction  500                   4.1360 USD
 Common                      Sell Transaction  149                   4.1360 USD
 Common                      Sell Transaction  154                   4.1368 USD
 Common                      Sell Transaction  1,300                 4.1373 USD
 Common                      Sell Transaction  200                   4.1375 USD
 Common                      Sell Transaction  403                   4.1379 USD
 Common                      Sell Transaction  30                    4.1383 USD
 Common                      Sell Transaction  80                    4.1399 USD
 Common                      Sell Transaction  500                   4.1399 USD
 Common                      Sell Transaction  72,328                4.1400 USD
 Common                      Sell Transaction  900                   4.1411 USD
 Common                      Sell Transaction  17                    4.1429 USD
 Common                      Sell Transaction  897                   4.1432 USD
 Common                      Sell Transaction  341                   4.1445 USD
 Common                      Sell Transaction  159                   4.1445 USD
 Common                      Sell Transaction  962                   4.1483 USD
 Common                      Sell Transaction  3,350                 4.1500 USD
 Common                      Sell Transaction  8                     4.1550 USD
 Common                      Sell Transaction  39                    4.1551 USD
 Common                      Sell Transaction  2,678                 4.1564 USD
 Common                      Sell Transaction  31,643                4.1581 USD
 Common                      Sell Transaction  170                   4.1594 USD
 Common                      Sell Transaction  9,370                 4.1598 USD
 Common                      Sell Transaction  6,008                 4.1600 USD
 Common                      Sell Transaction  2,845                 4.1604 USD
 Common                      Sell Transaction  1,807                 4.1611 USD
 Common                      Sell Transaction  1,700                 4.1618 USD
 Common                      Sell Transaction  24,088                4.1646 USD
 Common                      Sell Transaction  4,100                 4.1650 USD
 Common                      Sell Transaction  1,202                 4.1664 USD
 Common                      Sell Transaction  302                   4.1670 USD
 Common                      Sell Transaction  3,456                 4.1676 USD
 Common                      Sell Transaction  4,031                 4.1681 USD
 Common                      Sell Transaction  300                   4.1683 USD
 Common                      Sell Transaction  10,340                4.1700 USD
 Common                      Sell Transaction  80                    4.1738 USD
 Common                      Sell Transaction  9,011                 4.1750 USD
 Common                      Sell Transaction  1,524                 4.1799 USD
 Common                      Sell Transaction  50                    4.1800 USD
 Common                      Sell Transaction  4,882                 4.1807 USD
 Common                      Sell Transaction  186                   4.1824 USD
 Common                      Sell Transaction  946                   4.1844 USD
 Common                      Sell Transaction  22,252                4.1917 USD
 Common                      Sell Transaction  270                   4.1970 USD
 Common                      Sell Transaction  214                   4.1979 USD
 Common                      Sell Transaction  566                   4.1983 USD
 Common                      Sell Transaction  1,900                 4.1984 USD
 Common                      Sell Transaction  20                    4.2000 USD
 Common                      Sell Transaction  2                     4.2068 USD
 Common                      Sell Transaction  14,644                4.2071 USD
 Common                      Sell Transaction  2,282                 4.2077 USD
 Common                      Sell Transaction  5,276                 4.2080 USD
 Common                      Sell Transaction  354                   4.2100 USD
 Common                      Sell Transaction  6,979                 4.2112 USD
 Common                      Sell Transaction  5                     4.2160 USD
 Common                      Sell Transaction  580                   4.2162 USD
 Common                      Sell Transaction  118                   4.2184 USD
 Common                      Sell Transaction  600                   4.2200 USD
 Common                      Sell Transaction  115                   4.2204 USD
 Common                      Sell Transaction  1,610                 4.2214 USD
 Common                      Sell Transaction  320                   4.2237 USD
 Common                      Sell Transaction  145                   4.2253 USD
 Common                      Sell Transaction  400                   4.2275 USD
 Common                      Sell Transaction  161                   4.2275 USD
 Common                      Sell Transaction  8,222                 4.2277 USD
 Common                      Sell Transaction  33                    4.2285 USD
 Common                      Sell Transaction  200                   4.2382 USD
 Common                      Sell Transaction  1,410                 4.2434 USD
 Common                      Sell Transaction  116                   4.2441 USD
 Common                      Sell Transaction  25                    4.2452 USD
 Common                      Sell Transaction  1,300                 4.2454 USD
 Common                      Sell Transaction  1,271                 4.2475 USD
 Common                      Sell Transaction  1,783                 4.2500 USD
 Common                      Sell Transaction  1,403                 4.2505 USD
 Common                      Sell Transaction  1,460                 4.2522 USD
 Common                      Sell Transaction  400                   4.2550 USD
 Common                      Sell Transaction  1,288                 4.2551 USD
 Common                      Sell Transaction  9,391                 4.2556 USD
 Common                      Sell Transaction  1,118                 4.2600 USD
 Common                      Sell Transaction  2,816                 4.2618 USD
 Common                      Sell Transaction  33,407                4.2646 USD
 Common                      Sell Transaction  5,000                 4.2650 USD
 Common                      Sell Transaction  200                   4.2675 USD
 Common                      Sell Transaction  2,870                 4.2689 USD
 Common                      Sell Transaction  9,101                 4.2700 USD
 Common                      Sell Transaction  140                   4.2721 USD
 Common                      Sell Transaction  54                    4.2744 USD
 Common                      Sell Transaction  198                   4.2750 USD
 Common                      Sell Transaction  4,863                 4.2764 USD
 Common                      Sell Transaction  2,300                 4.2778 USD
 Common                      Sell Transaction  700                   4.2786 USD
 Common                      Sell Transaction  8                     4.2787 USD
 Common                      Sell Transaction  800                   4.2800 USD
 Common                      Sell Transaction  1,376                 4.2882 USD
 Common                      Sell Transaction  202                   4.2899 USD
 Common                      Sell Transaction  60                    4.2900 USD
 Common                      Sell Transaction  307                   4.2903 USD
 Common                      Sell Transaction  82                    4.2951 USD
 Common                      Sell Transaction  909                   4.3098 USD
 Common                      Sell Transaction  1,885                 4.3100 USD
 Common                      Sell Transaction  500                   4.3110 USD
 Common                      Sell Transaction  1,000                 4.3182 USD
 Common                      Sell Transaction  499                   4.3200 USD
 Common                      Sell Transaction  598                   4.3216 USD
 Common                      Sell Transaction  600                   4.3217 USD
 Common                      Sell Transaction  100                   4.3250 USD
 Common                      Sell Transaction  700                   4.3286 USD
 Common                      Sell Transaction  6,600                 4.3291 USD
 Common                      Sell Transaction  6,929                 4.3300 USD
 Common                      Sell Transaction  1,353                 4.3330 USD
 Common                      Sell Transaction  700                   4.3350 USD
 Common                      Sell Transaction  420                   4.3371 USD
 Common                      Sell Transaction  450                   4.3389 USD
 Common                      Sell Transaction  826                   4.3400 USD
 Common                      Sell Transaction  131                   4.3453 USD
 Common                      Sell Transaction  664                   4.3478 USD
 Common                      Sell Transaction  1,042                 4.3500 USD
 Common                      Sell Transaction  1,000                 4.3600 USD
 Common                      Sell Transaction  200                   4.3650 USD
 Common                      Sell Transaction  100                   4.3700 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                                                         33,281                          4.2220 USD
 Common                      CFD                  Reducing long position                                                         10,200                          4.2278 USD
 Common                      CFD                  Reducing long position                                                         200                             4.3400 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                      Put Option                            Buy Transaction                             10                                            6.0000 USD               American                       2025-Oct-17  1.8900 USD
 Common                      Put Option                            Buy Transaction                             6                                             6.0000 USD               American                       2025-Oct-17  1.9400 USD
 Common                      Put Option                            DVP Transaction                             16                                            6.0000 USD               American                       2025-Oct-17  1.8131 USD
 Common                      Put Option                            DVP Transaction                             2                                             6.0000 USD               American                       2025-Oct-17  1.8900 USD
 Common                      Put Option                            DVP Transaction                             14                                            6.0000 USD               American                       2025-Oct-17  1.9114 USD
 Common                      Put Option                            RVP Transaction                             1                                             6.0000 USD               American                       2025-Oct-17  1.8100 USD
 Common                      Put Option                            RVP Transaction                             15                                            6.0000 USD               American                       2025-Oct-17  1.8133 USD
 Common                      Put Option                            RVP Transaction                             16                                            6.0000 USD               American                       2025-Oct-17  1.9087 USD
 Common                      Call Option                           Sell Transaction                            3                                             6.0000 USD               American                       2025-Jul-18  0.0500 USD
 Common                      Put Option                            Sell Transaction                            15                                            6.0000 USD               American                       2025-Oct-17  1.8100 USD
 Common                      Put Option                            Sell Transaction                            1                                             6.0000 USD               American                       2025-Oct-17  1.8600 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 June 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             -8,100                                                      4.0 USD                  American                       20/06/2025

 Common                      Call Option                           Purchased             200                                                         8.0 USD                  American                       20/06/2025

 Common                      Call Option                           Purchased             2,600                                                       10.0 USD                 American                       16/01/2026

 Common                      Put Option                            Purchased             -1,600                                                      4.0 USD                  American                       16/01/2026

 Common                      Call Option                           Purchased             1,000                                                       3.0 USD                  American                       18/07/2025

 Common                      Call Option                           Purchased             2,000                                                       7.0 USD                  American                       20/06/2025

 Common                      Call Option                           Purchased             900                                                         6.0 USD                  American                       20/06/2025

 Common                      Put Option                            Purchased             -8,500                                                      5.0 USD                  American                       16/01/2026

 Common                      Put Option                            Purchased             -300                                                        5.0 USD                  American                       17/10/2025

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

 Common                      Put Option                            Purchased             -13,000                                                     3.0 USD                  American                       16/01/2026

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

 Common                      Put Option                            Purchased             -700                                                        7.0 USD                  American                       18/07/2025

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

 Common                      Call Option                           Purchased             200                                                         6.0 USD                  American                       17/10/2025

 Common                      Call Option                           Purchased             255,900                                                     6.0 USD                  American                       18/07/2025

 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                      Call Option                           Purchased             14,000                                                      4.0 USD                  American                       17/10/2025

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

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

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

 Common                      Put Option                            Purchased             -6,000                                                      4.0 USD                  American                       18/07/2025

 Common                      Put Option                            Purchased             -6,300                                                      5.0 USD                  American                       20/06/2025

 Common                      Call Option                           Purchased             9,200                                                       5.0 USD                  American                       16/01/2026

 Common                      Put Option                            Sold                  100                                                         5.0 USD                  American                       18/07/2025

 Common                      Put Option                            Sold                  100                                                         3.0 USD                  American                       20/06/2025

 Common                      Call Option                           Sold                  -643,700                                                    5.0 USD                  American                       18/07/2025

 Common                      Call Option                           Sold                  -96,400                                                     5.0 USD                  American                       17/10/2025

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

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

 Common                      Put Option                            Sold                  3,100                                                       3.0 USD                  American                       17/10/2025

 Common                      Call Option                           Sold                  -117,900                                                    7.0 USD                  American                       16/01/2026

 Common                      Call Option                           Sold                  -500                                                        4.0 USD                  American                       16/01/2026

 Common                      Call Option                           Sold                  -800                                                        12.0 USD                 American                       16/01/2026

 Common                      Call Option                           Sold                  -300                                                        4.0 USD                  American                       20/06/2025

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

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

 Common                      Call Option                           Sold                  -200                                                        3.0 USD                  American                       20/06/2025

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

 Common                      Call Option                           Sold                  -300                                                        6.0 USD                  American                       16/01/2026

 Common                      Call Option                           Sold                  -9,700                                                      4.0 USD                  American                       18/07/2025

 Common                      Call Option                           Sold                  -36,000                                                     5.0 USD                  American                       17/07/2026

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

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

 Common                      Put Option                            Sold                  98,900                                                      8.0 USD                  American                       20/06/2025

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

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

 Common                      Call Option                           Sold                  -3,500                                                      5.0 USD                  American                       20/06/2025

 

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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