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RNS Number : 5609R Goldman Sachs & Co. LLC 03 February 2026
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: GOLDMAN SACHS & CO. LLC
(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: 02 February 2026
For an opening position disclosure, state the latest practicable date In addition, Goldman Sachs & CO. LLC has dealt on previous dates during
prior to the disclosure 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 - disclosing today for DAUCH CORPORATION
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: 0 0.00 0 0.00
(2) Cash-settled derivatives: 0 0.00 4 0.00
(3) Stock-settled derivatives (including options) and agreements to 0 0.00 0 0.00
purchase/sell:
0 0.00 4 0.00
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:
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
1p ordinary Purchase 9,627,258 0.9385 GBP
1p ordinary Sale 9,627,258 0.9385 GBP
(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
(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: 03 February 2026
Contact name: Papa Lette and Andrzej Szyszka
Telephone number*: +33(1) 4212 1459 / +48(22) 317 4817
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) .
(d) Purchases and sales
Date Class of relevant security Purchase/sale Number of securities Price per unit
20 Mar 2025 1p ordinary Purchase 5,773 0.6500 GBP
20 Mar 2025 1p ordinary Sale 5,773 0.6500 GBP
21 Mar 2025 1p ordinary Purchase 591 0.6500 GBP
21 Mar 2025 1p ordinary Sale 591 0.6500 GBP
24 Apr 2025 1p ordinary Purchase 21,625 0.5360 GBP
24 Apr 2025 1p ordinary Sale 21,625 0.5360 GBP
29 Apr 2025 1p ordinary Purchase 2,222 0.5723 GBP
29 Apr 2025 1p ordinary Sale 2,222 0.5723 GBP
01 May 2025 1p ordinary Purchase 258,610 0.5825 GBP
01 May 2025 1p ordinary Sale 258,610 0.5825 GBP
02 May 2025 1p ordinary Purchase 258,610 0.5996 GBP
02 May 2025 1p ordinary Sale 258,610 0.5996 GBP
14 May 2025 1p ordinary Purchase 176,220 0.6812 GBP
14 May 2025 1p ordinary Sale 176,220 0.6812 GBP
15 May 2025 1p ordinary Purchase 1,999 0.6717 GBP
15 May 2025 1p ordinary Purchase 82,236 0.6722 GBP
15 May 2025 1p ordinary Purchase 29,859 0.6725 GBP
15 May 2025 1p ordinary Sale 1,999 0.6717 GBP
15 May 2025 1p ordinary Sale 82,236 0.6722 GBP
15 May 2025 1p ordinary Sale 29,859 0.6725 GBP
30 May 2025 1p ordinary Purchase 291,700 0.6655 GBP
30 May 2025 1p ordinary Sale 291,700 0.6655 GBP
16 Jun 2025 1p ordinary Purchase 65,330 0.6741 GBP
16 Jun 2025 1p ordinary Sale 65,330 0.6741 GBP
01 Aug 2025 1p ordinary Purchase 263,617 0.6964 GBP
01 Aug 2025 1p ordinary Sale 263,617 0.6964 GBP
26 Aug 2025 1p ordinary Purchase 17,819 0.7855 GBP
26 Aug 2025 1p ordinary Sale 17,819 0.7855 GBP
29 Aug 2025 1p ordinary Purchase 23,889 0.7785 GBP
29 Aug 2025 1p ordinary Sale 23,889 0.7785 GBP
03 Sep 2025 1p ordinary Purchase 10,000 0.7900 GBP
03 Sep 2025 1p ordinary Sale 10,000 0.7900 GBP
19 Sep 2025 1p ordinary Purchase 3,677 0.8205 GBP
19 Sep 2025 1p ordinary Sale 3,677 0.8205 GBP
25 Sep 2025 1p ordinary Purchase 41,467 0.8050 GBP
25 Sep 2025 1p ordinary Sale 41,467 0.8050 GBP
30 Sep 2025 1p ordinary Purchase 22,891 0.7990 GBP
30 Sep 2025 1p ordinary Sale 22,891 0.7990 GBP
06 Oct 2025 1p ordinary Purchase 408 0.8150 GBP
06 Oct 2025 1p ordinary Sale 408 0.8150 GBP
13 Oct 2025 1p ordinary Purchase 13,142 0.7635 GBP
13 Oct 2025 1p ordinary Sale 13,142 0.7635 GBP
17 Nov 2025 1p ordinary Purchase 0.8185 GBP
3
17 Nov 2025 1p ordinary Sale 0.8185 GBP
3
19 Nov 2025 1p ordinary Purchase 39,443 0.8225 GBP
19 Nov 2025 1p ordinary Sale 39,443 0.8225 GBP
24 Nov 2025 1p ordinary Purchase 232,459 0.8270 GBP
24 Nov 2025 1p ordinary Sale 232,459 0.8270 GBP
25 Nov 2025 1p ordinary Purchase 0.8334 GBP
7
25 Nov 2025 1p ordinary Sale 0.8334 GBP
7
19 Dec 2025 1p ordinary Purchase 455 0.8660 GBP
19 Dec 2025 1p ordinary Sale 455 0.8660 GBP
19 Jan 2026 1p ordinary Purchase 0.9250 GBP
1
19 Jan 2026 1p ordinary Sale 0.9250 GBP
1
26 Jan 2026 1p ordinary Purchase 550,000 0.9576 GBP
26 Jan 2026 1p ordinary Sale 550,000 0.9576 GBP
(b) Cash-settled derivative transactions
Date Class of relevant security Product description Nature of dealing Number of reference securities Price per unit
13 Mar 2025 1p ordinary SWAP Reducing a short position 53691 0.8552 USD
13 Mar 2025 1p ordinary SWAP Opening a short position 53691 0.8552 USD
23 Apr 2025 1p ordinary SWAP Increasing a short position 25590 0.6788 USD
21 May 2025 1p ordinary SWAP Increasing a short position 9928 0.8981 USD
29 May 2025 1p ordinary SWAP Increasing a short position 24993 0.8851 USD
11 Jun 2025 1p ordinary SWAP Opening a short position 75210 0.9062 USD
11 Jun 2025 1p ordinary SWAP Reducing a short position 75210 0.9062 USD
11 Jun 2025 1p ordinary SWAP Reducing a short position 14513 0.9081 USD
20 Jun 2025 1p ordinary SWAP Increasing a short position 9442 0.9045 USD
05 Aug 2025 1p ordinary SWAP Increasing a short position 4393 0.9296 USD
27 Aug 2025 1p ordinary SWAP Reducing a short position 18849 1.0519 USD
09 Sep 2025 1p ordinary SWAP Reducing a short position 55683 1.0828 USD
09 Sep 2025 1p ordinary SWAP Opening a short position 55683 1.0828 USD
12 Sep 2025 1p ordinary SWAP Reducing a short position 17046 1.0800 USD
15 Sep 2025 1p ordinary SWAP Reducing a short position 10468 1.0787 USD
16 Sep 2025 1p ordinary SWAP Reducing a short position 10384 1.0961 USD
18 Sep 2025 1p ordinary SWAP Reducing a short position 8487 1.1077 USD
02 Oct 2025 1p ordinary SWAP Increasing a short position 5814 1.0692 USD
14 Nov 2025 1p ordinary SWAP Increasing a short position 30759 1.0800 USD
01 Dec 2025 1p ordinary SWAP Reducing a short position 9498 1.1225 USD
04 Dec 2025 1p ordinary SWAP Reducing a short position 36369 1.1262 USD
05 Dec 2025 1p ordinary SWAP Opening a short position 4 1.1240 USD
05 Dec 2025 1p ordinary SWAP Reducing a short position 4 1.1240 USD
08 Jan 2026 1p ordinary SWAP Increasing a short position 1242 1.1650 USD
09 Jan 2026 1p ordinary SWAP Increasing a short position 1223 1.2181 USD
16 Jan 2026 1p ordinary SWAP Reducing a short position 2465 1.2699 USD
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