AI Terminal
Citadel Group
Major Shareholding Notification • Jul 4, 2025
10454_rns_2025-07-04_f537e325-c212-4c04-afec-3279991450eb.html
Major Shareholding Notification
Open in ViewerOpens in native device viewer
National Storage Mechanism | Additional information 
RNS Number : 8551P
Citadel Group
04 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 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. |
N/A |
| (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree |
AMERICAN AXLE MANUFACTURING HOLDINGS INC |
| (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: | N/A |
| (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure |
3 July 2025 |
| (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A" |
YES DOWLAIS GROUP PLC |
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: Common Stock |
ISIN US0240611030 USD 0.01 common |
|||
| Interests | Short positions | |||
| Number | % | Number | % | |
| (1) Relevant securities owned and/or controlled: | 2,045,697 | 1.72 | 103,598 | 0.08 |
| (2) Cash-settled derivatives: | 575,874 | 0.48 | 0 | 0.00 |
| (3) Stock-settled derivatives (including options) and agreements to purchase/sell: | 999,900 | 0.84 | 1,372,700 | 1.15 |
| TOTAL: | 3,621,471 | 3.05 | 1,476,298 | 1.24 |
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 | 9 | 4.3444 USD |
| Common | Buy Transaction | 707 | 4.3600 USD |
| Common | Buy Transaction | 1,231 | 4.3700 USD |
| Common | Buy Transaction | 204 | 4.3737 USD |
| Common | Buy Transaction | 404 | 4.3750 USD |
| Common | Buy Transaction | 2 | 4.3760 USD |
| Common | Buy Transaction | 1,635 | 4.3791 USD |
| Common | Buy Transaction | 2,458 | 4.3798 USD |
| Common | Buy Transaction | 25,648 | 4.3800 USD |
| Common | Buy Transaction | 700 | 4.3801 USD |
| Common | Buy Transaction | 1,526 | 4.3807 USD |
| Common | Buy Transaction | 1,212 | 4.3808 USD |
| Common | Buy Transaction | 300 | 4.3810 USD |
| Common | Buy Transaction | 600 | 4.3817 USD |
| Common | Buy Transaction | 500 | 4.3820 USD |
| Common | Buy Transaction | 3,863 | 4.3821 USD |
| Common | Buy Transaction | 1,600 | 4.3822 USD |
| Common | Buy Transaction | 906 | 4.3834 USD |
| Common | Buy Transaction | 2,267 | 4.3835 USD |
| Common | Buy Transaction | 2,648 | 4.3838 USD |
| Common | Buy Transaction | 1,954 | 4.3843 USD |
| Common | Buy Transaction | 500 | 4.3860 USD |
| Common | Buy Transaction | 3,188 | 4.3863 USD |
| Common | Buy Transaction | 1 | 4.3878 USD |
| Common | Buy Transaction | 3,000 | 4.3878 USD |
| Common | Buy Transaction | 1 | 4.3878 USD |
| Common | Buy Transaction | 1,400 | 4.3879 USD |
| Common | Buy Transaction | 2,400 | 4.3887 USD |
| Common | Buy Transaction | 676 | 4.3888 USD |
| Common | Buy Transaction | 2,251 | 4.3898 USD |
| Common | Buy Transaction | 1,902 | 4.3900 USD |
| Common | Buy Transaction | 1,200 | 4.3903 USD |
| Common | Buy Transaction | 2,500 | 4.3908 USD |
| Common | Buy Transaction | 500 | 4.3920 USD |
| Common | Buy Transaction | 400 | 4.3925 USD |
| Common | Buy Transaction | 11,204 | 4.3927 USD |
| Common | Buy Transaction | 1,511 | 4.3932 USD |
| Common | Buy Transaction | 4,063 | 4.3934 USD |
| Common | Buy Transaction | 1,208 | 4.3935 USD |
| Common | Buy Transaction | 384 | 4.3935 USD |
| Common | Buy Transaction | 604 | 4.3935 USD |
| Common | Buy Transaction | 1,155 | 4.3939 USD |
| Common | Buy Transaction | 11,814 | 4.3940 USD |
| Common | Buy Transaction | 1,716 | 4.3942 USD |
| Common | Buy Transaction | 2,342 | 4.3949 USD |
| Common | Buy Transaction | 804 | 4.3950 USD |
| Common | Buy Transaction | 1,976 | 4.3951 USD |
| Common | Buy Transaction | 3,711 | 4.3957 USD |
| Common | Buy Transaction | 1,835 | 4.3965 USD |
| Common | Buy Transaction | 2,500 | 4.3968 USD |
| Common | Buy Transaction | 2,824 | 4.3971 USD |
| Common | Buy Transaction | 2,519 | 4.3982 USD |
| Common | Buy Transaction | 1,288 | 4.3984 USD |
| Common | Buy Transaction | 3,293 | 4.3989 USD |
| Common | Buy Transaction | 1,041 | 4.3999 USD |
| Common | Buy Transaction | 895 | 4.4000 USD |
| Common | Buy Transaction | 3,136 | 4.4002 USD |
| Common | Buy Transaction | 1,451 | 4.4003 USD |
| Common | Buy Transaction | 2,229 | 4.4003 USD |
| Common | Buy Transaction | 4 | 4.4050 USD |
| Common | Buy Transaction | 141 | 4.4060 USD |
| Common | Buy Transaction | 1,400 | 4.4066 USD |
| Common | Buy Transaction | 609 | 4.4078 USD |
| Common | Buy Transaction | 266 | 4.4078 USD |
| Common | Buy Transaction | 655 | 4.4092 USD |
| Common | Buy Transaction | 3,711 | 4.4100 USD |
| Common | Buy Transaction | 500 | 4.4107 USD |
| Common | Buy Transaction | 597 | 4.4121 USD |
| Common | Buy Transaction | 20 | 4.4125 USD |
| Common | Buy Transaction | 92,253 | 4.4134 USD |
| Common | Buy Transaction | 35,131 | 4.4154 USD |
| Common | Buy Transaction | 830 | 4.4176 USD |
| Common | Buy Transaction | 2,014 | 4.4195 USD |
| Common | Buy Transaction | 6,566 | 4.4200 USD |
| Common | Buy Transaction | 568 | 4.4210 USD |
| Common | Buy Transaction | 3 | 4.4233 USD |
| Common | Buy Transaction | 200 | 4.4250 USD |
| Common | Buy Transaction | 11,500 | 4.4266 USD |
| Common | Buy Transaction | 1,601 | 4.4275 USD |
| Common | Buy Transaction | 9,805 | 4.4300 USD |
| Common | Buy Transaction | 500 | 4.4400 USD |
| Common | DVP Transaction | 16,061 | 4.3800 USD |
| Common | DVP Transaction | 7 | 4.3857 USD |
| Common | DVP Transaction | 1,242 | 4.3900 USD |
| Common | DVP Transaction | 1 | 4.4000 USD |
| Common | DVP Transaction | 283 | 4.4200 USD |
| Common | DVP Transaction | 500 | 4.4400 USD |
| Common | DVP Transaction | 1 | 4.4500 USD |
| Common | RVP Transaction | 1 | 4.3600 USD |
| Common | RVP Transaction | 16,061 | 4.3800 USD |
| Common | RVP Transaction | 1,248 | 4.3900 USD |
| Common | RVP Transaction | 1 | 4.4000 USD |
| Common | RVP Transaction | 283 | 4.4200 USD |
| Common | RVP Transaction | 500 | 4.4400 USD |
| Common | RVP Transaction | 1 | 4.4500 USD |
| Common | Sell Transaction | 100 | 4.3600 USD |
| Common | Sell Transaction | 980 | 4.3699 USD |
| Common | Sell Transaction | 598 | 4.3700 USD |
| Common | Sell Transaction | 1,831 | 4.3705 USD |
| Common | Sell Transaction | 22,821 | 4.3800 USD |
| Common | Sell Transaction | 401 | 4.3807 USD |
| Common | Sell Transaction | 621 | 4.3810 USD |
| Common | Sell Transaction | 1,842 | 4.3815 USD |
| Common | Sell Transaction | 930 | 4.3829 USD |
| Common | Sell Transaction | 365 | 4.3849 USD |
| Common | Sell Transaction | 15 | 4.3853 USD |
| Common | Sell Transaction | 30 | 4.3867 USD |
| Common | Sell Transaction | 1 | 4.3875 USD |
| Common | Sell Transaction | 1,600 | 4.3887 USD |
| Common | Sell Transaction | 13,193 | 4.3900 USD |
| Common | Sell Transaction | 328 | 4.3903 USD |
| Common | Sell Transaction | 1,675 | 4.3919 USD |
| Common | Sell Transaction | 805 | 4.3925 USD |
| Common | Sell Transaction | 2,100 | 4.3936 USD |
| Common | Sell Transaction | 1,323 | 4.3936 USD |
| Common | Sell Transaction | 1,306 | 4.3939 USD |
| Common | Sell Transaction | 1,700 | 4.3965 USD |
| Common | Sell Transaction | 6,300 | 4.3975 USD |
| Common | Sell Transaction | 2,913 | 4.3981 USD |
| Common | Sell Transaction | 618 | 4.3990 USD |
| Common | Sell Transaction | 618 | 4.3993 USD |
| Common | Sell Transaction | 102 | 4.3999 USD |
| Common | Sell Transaction | 1,041 | 4.3999 USD |
| Common | Sell Transaction | 907 | 4.4000 USD |
| Common | Sell Transaction | 38,238 | 4.4003 USD |
| Common | Sell Transaction | 7,693 | 4.4004 USD |
| Common | Sell Transaction | 300 | 4.4033 USD |
| Common | Sell Transaction | 658 | 4.4034 USD |
| Common | Sell Transaction | 18,544 | 4.4043 USD |
| Common | Sell Transaction | 4 | 4.4050 USD |
| Common | Sell Transaction | 2,615 | 4.4051 USD |
| Common | Sell Transaction | 2,780 | 4.4053 USD |
| Common | Sell Transaction | 68,058 | 4.4064 USD |
| Common | Sell Transaction | 1,649 | 4.4068 USD |
| Common | Sell Transaction | 400 | 4.4075 USD |
| Common | Sell Transaction | 900 | 4.4078 USD |
| Common | Sell Transaction | 2,226 | 4.4081 USD |
| Common | Sell Transaction | 720 | 4.4086 USD |
| Common | Sell Transaction | 1,100 | 4.4091 USD |
| Common | Sell Transaction | 558 | 4.4095 USD |
| Common | Sell Transaction | 10 | 4.4100 USD |
| Common | Sell Transaction | 21,514 | 4.4113 USD |
| Common | Sell Transaction | 443 | 4.4113 USD |
| Common | Sell Transaction | 2,886 | 4.4115 USD |
| Common | Sell Transaction | 300 | 4.4133 USD |
| Common | Sell Transaction | 403 | 4.4135 USD |
| Common | Sell Transaction | 1,436 | 4.4146 USD |
| Common | Sell Transaction | 7,484 | 4.4146 USD |
| Common | Sell Transaction | 918 | 4.4153 USD |
| Common | Sell Transaction | 35,131 | 4.4154 USD |
| Common | Sell Transaction | 3,008 | 4.4160 USD |
| Common | Sell Transaction | 1,795 | 4.4200 USD |
| Common | Sell Transaction | 1,372 | 4.4234 USD |
| Common | Sell Transaction | 1,573 | 4.4235 USD |
| Common | Sell Transaction | 1,006 | 4.4255 USD |
| Common | Sell Transaction | 8,274 | 4.4283 USD |
| Common | Sell Transaction | 826 | 4.4287 USD |
| Common | Sell Transaction | 4,371 | 4.4300 USD |
| Common | Sell Transaction | 100 | 4.4550 USD |
| Common | Sell Transaction | 69 | 4.4600 USD |
(b) Cash-settled derivative transactions
| Class of relevant security | Product description e.g. CFD |
Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position |
Number of reference securities | Price per unit |
| Common | CFD | Increasing long position | 40,300 | 4.3911 USD |
| Common | CFD | Increasing long position | 12,782 | 4.4100 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 e.g. American, European etc. |
Expiry date | Option money paid/ received per unit |
| Common | Call Option | Buy Transaction | 1 | 6.0000 USD | American | 2026-Jan-16 | 0.3800 USD |
| Common | Call Option | DVP Transaction | 1 | 5.0000 USD | American | 2025-Jul-18 | 0.0500 USD |
| Common | Call Option | DVP Transaction | 1 | 6.0000 USD | American | 2026-Jan-16 | 0.3800 USD |
| Common | Call Option | RVP Transaction | 1 | 5.0000 USD | American | 2025-Jul-18 | 0.0500 USD |
| Common | Call Option | RVP Transaction | 1 | 6.0000 USD | American | 2026-Jan-16 | 0.3800 USD |
| Common | Call Option | Sell Transaction | 1 | 5.0000 USD | American | 2025-Jul-18 | 0.0500 USD |
(ii) Exercise
| Class of relevant security | Product description e.g. call option |
Exercising/ exercised against | Number of securities | Exercise price per unit |
(d) Other dealings (including subscribing for new securities)
| Class of relevant security | Nature of dealing e.g. subscription, conversion |
Details | Price per unit (if applicable) |
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: | 4 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 .
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 disclosure relates: | AMERICAN AXLE MANUFACTURING HOLDINGS INC |
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 e.g. American, European etc. |
Expiry date |
| Common | Put Option | Purchased | -7,200 | 3.0 USD | American | 18/07/2025 |
| Common | Put Option | Purchased | -100 | 7.0 USD | American | 17/10/2025 |
| Common | Put Option | Purchased | -201,600 | 4.0 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 | Call Option | Purchased | 300 | 2.0 USD | American | 17/10/2025 |
| Common | Put Option | Purchased | -900 | 5.0 USD | American | 17/07/2026 |
| Common | Put Option | Purchased | -700 | 7.0 USD | American | 18/07/2025 |
| Common | Call Option | Purchased | 17,200 | 4.0 USD | American | 17/10/2025 |
| Common | Put Option | Purchased | -13,100 | 3.0 USD | American | 16/01/2026 |
| Common | Call Option | Purchased | 1,000 | 3.0 USD | American | 15/08/2025 |
| Common | Call Option | Purchased | 10,400 | 5.0 USD | American | 16/01/2026 |
| Common | Put Option | Purchased | -200 | 7.0 USD | American | 15/08/2025 |
| Common | Put Option | Purchased | -200 | 6.0 USD | American | 16/01/2026 |
| Common | Call Option | Purchased | 700 | 10.0 USD | American | 18/07/2025 |
| Common | Put Option | Purchased | -11,900 | 4.0 USD | American | 18/07/2025 |
| Common | Put Option | Purchased | -12,000 | 3.0 USD | American | 15/08/2025 |
| Common | Call Option | Purchased | 2,900 | 10.0 USD | American | 16/01/2026 |
| Common | Put Option | Purchased | -700 | 6.0 USD | American | 18/07/2025 |
| Common | Call Option | Purchased | 270,900 | 6.0 USD | American | 18/07/2025 |
| Common | Put Option | Purchased | -300 | 4.0 USD | American | 15/08/2025 |
| Common | Call Option | Purchased | 2,000 | 3.0 USD | American | 18/07/2025 |
| Common | Call Option | Purchased | 300 | 15.0 USD | American | 16/01/2026 |
| Common | Call Option | Sold | -9,500 | 4.0 USD | American | 18/07/2025 |
| Common | Call Option | Sold | -1,800 | 6.0 USD | American | 17/10/2025 |
| Common | Call Option | Sold | -700 | 12.0 USD | American | 16/01/2026 |
| Common | Call Option | Sold | -2,500 | 4.0 USD | American | 17/07/2026 |
| Common | Call Option | Sold | -118,200 | 7.0 USD | American | 16/01/2026 |
| Common | Call Option | Sold | -103,000 | 5.0 USD | American | 17/10/2025 |
| Common | Call Option | Sold | -100 | 2.0 USD | American | 17/07/2026 |
| Common | Put Option | Sold | 100 | 5.0 USD | American | 18/07/2025 |
| Common | Call Option | Sold | -1,500 | 4.0 USD | American | 16/01/2026 |
| Common | Call Option | Sold | -37,000 | 5.0 USD | American | 17/07/2026 |
| Common | Put Option | Sold | 91,500 | 5.0 USD | American | 16/01/2026 |
| Common | Call Option | Sold | -161,100 | 6.0 USD | American | 16/01/2026 |
| Common | Call Option | Sold | -651,300 | 5.0 USD | American | 18/07/2025 |
| Common | Put Option | Sold | 2,600 | 3.0 USD | American | 17/10/2025 |
| 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 | -2,400 | 10.0 USD | American | 17/07/2026 |
| Common | Call Option | Sold | -2,000 | 3.0 USD | American | 17/10/2025 |
| Common | Call Option | Sold | -300 | 3.0 USD | American | 17/07/2026 |
| Common | Call Option | Sold | -1,400 | 3.0 USD | American | 16/01/2026 |
| Common | Call Option | Sold | -1,100 | 7.0 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 .
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
RETPKQBQBBKDFOK