Citadel Group

Major Shareholding Notification • Mar 26, 2025

National Storage Mechanism | Additional information

RNS Number : 3511C

Citadel Group

26 March 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	25 March 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:	913,895	0.77	807,901	0.68
(2) Cash-settled derivatives:	176,957	0.14	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	2,048,900	1.73	580,800	0.49
TOTAL:	3,139,752	2.65	1,388,701	1.17

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	139	4.4958 USD
Common	Buy Transaction	3,600	4.4989 USD
Common	Buy Transaction	31,422	4.5000 USD
Common	Buy Transaction	224	4.5088 USD
Common	Buy Transaction	703	4.5100 USD
Common	Buy Transaction	567	4.5135 USD
Common	Buy Transaction	600	4.5150 USD
Common	Buy Transaction	15,196	4.5177 USD
Common	Buy Transaction	725	4.5200 USD
Common	Buy Transaction	400	4.5250 USD
Common	Buy Transaction	554	4.5262 USD
Common	Buy Transaction	2,486	4.5277 USD
Common	Buy Transaction	2,744	4.5300 USD
Common	Buy Transaction	3,923	4.5303 USD
Common	Buy Transaction	106	4.5306 USD
Common	Buy Transaction	458	4.5316 USD
Common	Buy Transaction	249	4.5320 USD
Common	Buy Transaction	3,602	4.5323 USD
Common	Buy Transaction	442	4.5344 USD
Common	Buy Transaction	264	4.5346 USD
Common	Buy Transaction	500	4.5360 USD
Common	Buy Transaction	115	4.5361 USD
Common	Buy Transaction	1,543	4.5365 USD
Common	Buy Transaction	300	4.5367 USD
Common	Buy Transaction	505	4.5370 USD
Common	Buy Transaction	8,010	4.5370 USD
Common	Buy Transaction	176	4.5374 USD
Common	Buy Transaction	1,100	4.5382 USD
Common	Buy Transaction	813	4.5388 USD
Common	Buy Transaction	904	4.5399 USD
Common	Buy Transaction	6,223	4.5399 USD
Common	Buy Transaction	2,465	4.5400 USD
Common	Buy Transaction	1,231	4.5408 USD
Common	Buy Transaction	664	4.5419 USD
Common	Buy Transaction	2,900	4.5426 USD
Common	Buy Transaction	879	4.5429 USD
Common	Buy Transaction	242	4.5440 USD
Common	Buy Transaction	1,298	4.5447 USD
Common	Buy Transaction	59	4.5451 USD
Common	Buy Transaction	250	4.5456 USD
Common	Buy Transaction	267	4.5457 USD
Common	Buy Transaction	498	4.5462 USD
Common	Buy Transaction	548	4.5463 USD
Common	Buy Transaction	2,970	4.5467 USD
Common	Buy Transaction	177	4.5472 USD
Common	Buy Transaction	897	4.5480 USD
Common	Buy Transaction	771	4.5482 USD
Common	Buy Transaction	949	4.5500 USD
Common	Buy Transaction	1,988	4.5516 USD
Common	Buy Transaction	435	4.5523 USD
Common	Buy Transaction	300	4.5533 USD
Common	Buy Transaction	577	4.5536 USD
Common	Buy Transaction	192	4.5544 USD
Common	Buy Transaction	141	4.5555 USD
Common	Buy Transaction	30,022	4.5560 USD
Common	Buy Transaction	1,954	4.5571 USD
Common	Buy Transaction	3,834	4.5600 USD
Common	Buy Transaction	1,029	4.5601 USD
Common	Buy Transaction	450	4.5602 USD
Common	Buy Transaction	1,000	4.5609 USD
Common	Buy Transaction	665	4.5625 USD
Common	Buy Transaction	8,162	4.5650 USD
Common	Buy Transaction	5,924	4.5654 USD
Common	Buy Transaction	695	4.5655 USD
Common	Buy Transaction	319	4.5657 USD
Common	Buy Transaction	290	4.5658 USD
Common	Buy Transaction	743	4.5677 USD
Common	Buy Transaction	196	4.5678 USD
Common	Buy Transaction	972	4.5697 USD
Common	Buy Transaction	24	4.5700 USD
Common	Buy Transaction	6,477	4.5713 USD
Common	Buy Transaction	1	4.5720 USD
Common	Buy Transaction	700	4.5729 USD
Common	Buy Transaction	200	4.5750 USD
Common	Buy Transaction	600	4.5767 USD
Common	Buy Transaction	754	4.5773 USD
Common	Buy Transaction	1,162	4.5800 USD
Common	Buy Transaction	26	4.5873 USD
Common	Buy Transaction	1,245	4.5877 USD
Common	Buy Transaction	300	4.6100 USD
Common	Buy Transaction	100	4.6200 USD
Common	Buy Transaction	400	4.6250 USD
Common	DVP Transaction	28,845	4.5000 USD
Common	DVP Transaction	2,149	4.5384 USD
Common	DVP Transaction	64	4.5600 USD
Common	DVP Transaction	6,552	4.5650 USD
Common	DVP Transaction	263	4.5800 USD
Common	RVP Transaction	28,845	4.5000 USD
Common	RVP Transaction	1	4.5100 USD
Common	RVP Transaction	12	4.5250 USD
Common	RVP Transaction	12	4.5300 USD
Common	RVP Transaction	33	4.5352 USD
Common	RVP Transaction	1,148	4.5361 USD
Common	RVP Transaction	336	4.5393 USD
Common	RVP Transaction	312	4.5400 USD
Common	RVP Transaction	237	4.5448 USD
Common	RVP Transaction	33	4.5464 USD
Common	RVP Transaction	13	4.5469 USD
Common	RVP Transaction	64	4.5600 USD
Common	RVP Transaction	6,564	4.5650 USD
Common	RVP Transaction	263	4.5800 USD
Common	Sell Transaction	136	4.4900 USD
Common	Sell Transaction	46,532	4.5000 USD
Common	Sell Transaction	247	4.5010 USD
Common	Sell Transaction	2,776	4.5025 USD
Common	Sell Transaction	180	4.5047 USD
Common	Sell Transaction	350	4.5050 USD
Common	Sell Transaction	6	4.5067 USD
Common	Sell Transaction	851	4.5069 USD
Common	Sell Transaction	500	4.5090 USD
Common	Sell Transaction	80	4.5091 USD
Common	Sell Transaction	1,741	4.5100 USD
Common	Sell Transaction	253	4.5200 USD
Common	Sell Transaction	527	4.5250 USD
Common	Sell Transaction	282	4.5250 USD
Common	Sell Transaction	374	4.5298 USD
Common	Sell Transaction	1,002	4.5300 USD
Common	Sell Transaction	600	4.5300 USD
Common	Sell Transaction	953	4.5300 USD
Common	Sell Transaction	707	4.5311 USD
Common	Sell Transaction	200	4.5350 USD
Common	Sell Transaction	1,029	4.5353 USD
Common	Sell Transaction	124	4.5356 USD
Common	Sell Transaction	223	4.5369 USD
Common	Sell Transaction	1	4.5394 USD
Common	Sell Transaction	43	4.5395 USD
Common	Sell Transaction	2,396	4.5396 USD
Common	Sell Transaction	229	4.5398 USD
Common	Sell Transaction	1,000	4.5399 USD
Common	Sell Transaction	2,151	4.5400 USD
Common	Sell Transaction	10,008	4.5400 USD
Common	Sell Transaction	56	4.5402 USD
Common	Sell Transaction	140	4.5407 USD
Common	Sell Transaction	1,555	4.5411 USD
Common	Sell Transaction	488	4.5412 USD
Common	Sell Transaction	48	4.5417 USD
Common	Sell Transaction	1,600	4.5419 USD
Common	Sell Transaction	398	4.5427 USD
Common	Sell Transaction	18,800	4.5428 USD
Common	Sell Transaction	63	4.5438 USD
Common	Sell Transaction	1,002	4.5438 USD
Common	Sell Transaction	1,119	4.5439 USD
Common	Sell Transaction	500	4.5440 USD
Common	Sell Transaction	524	4.5442 USD
Common	Sell Transaction	250	4.5445 USD
Common	Sell Transaction	283	4.5445 USD
Common	Sell Transaction	4,839	4.5445 USD
Common	Sell Transaction	322	4.5448 USD
Common	Sell Transaction	28	4.5450 USD
Common	Sell Transaction	1,120	4.5451 USD
Common	Sell Transaction	2,875	4.5453 USD
Common	Sell Transaction	4,557	4.5458 USD
Common	Sell Transaction	9,509	4.5460 USD
Common	Sell Transaction	4,920	4.5461 USD
Common	Sell Transaction	6,524	4.5468 USD
Common	Sell Transaction	712	4.5470 USD
Common	Sell Transaction	13,382	4.5475 USD
Common	Sell Transaction	396	4.5484 USD
Common	Sell Transaction	613	4.5486 USD
Common	Sell Transaction	900	4.5489 USD
Common	Sell Transaction	1,126	4.5489 USD
Common	Sell Transaction	917	4.5497 USD
Common	Sell Transaction	847	4.5499 USD
Common	Sell Transaction	2,150	4.5500 USD
Common	Sell Transaction	23,958	4.5502 USD
Common	Sell Transaction	108	4.5504 USD
Common	Sell Transaction	986	4.5504 USD
Common	Sell Transaction	776	4.5508 USD
Common	Sell Transaction	2,142	4.5509 USD
Common	Sell Transaction	560	4.5511 USD
Common	Sell Transaction	2,705	4.5511 USD
Common	Sell Transaction	494	4.5513 USD
Common	Sell Transaction	51	4.5514 USD
Common	Sell Transaction	1,260	4.5517 USD
Common	Sell Transaction	2,144	4.5518 USD
Common	Sell Transaction	119	4.5520 USD
Common	Sell Transaction	721	4.5522 USD
Common	Sell Transaction	3,032	4.5527 USD
Common	Sell Transaction	91	4.5531 USD
Common	Sell Transaction	169	4.5550 USD
Common	Sell Transaction	75	4.5551 USD
Common	Sell Transaction	1,241	4.5553 USD
Common	Sell Transaction	2,075	4.5561 USD
Common	Sell Transaction	631	4.5565 USD
Common	Sell Transaction	470	4.5566 USD
Common	Sell Transaction	1,242	4.5567 USD
Common	Sell Transaction	3,402	4.5569 USD
Common	Sell Transaction	7,052	4.5578 USD
Common	Sell Transaction	27	4.5581 USD
Common	Sell Transaction	2,434	4.5584 USD
Common	Sell Transaction	829	4.5588 USD
Common	Sell Transaction	120	4.5592 USD
Common	Sell Transaction	513	4.5598 USD
Common	Sell Transaction	356	4.5598 USD
Common	Sell Transaction	2,934	4.5600 USD
Common	Sell Transaction	295	4.5602 USD
Common	Sell Transaction	512	4.5602 USD
Common	Sell Transaction	2,864	4.5607 USD
Common	Sell Transaction	5,678	4.5609 USD
Common	Sell Transaction	291	4.5609 USD
Common	Sell Transaction	335	4.5624 USD
Common	Sell Transaction	1,300	4.5631 USD
Common	Sell Transaction	4,223	4.5639 USD
Common	Sell Transaction	11,362	4.5650 USD
Common	Sell Transaction	703	4.5652 USD
Common	Sell Transaction	15	4.5680 USD
Common	Sell Transaction	1,957	4.5683 USD
Common	Sell Transaction	3,583	4.5686 USD
Common	Sell Transaction	492	4.5696 USD
Common	Sell Transaction	981	4.5700 USD
Common	Sell Transaction	472	4.5701 USD
Common	Sell Transaction	31	4.5710 USD
Common	Sell Transaction	200	4.5750 USD
Common	Sell Transaction	113	4.5796 USD
Common	Sell Transaction	4,465	4.5800 USD
Common	Sell Transaction	721	4.5828 USD
Common	Sell Transaction	300	4.5850 USD
Common	Sell Transaction	700	4.5857 USD
Common	Sell Transaction	362	4.5976 USD
Common	Sell Transaction	440	4.5992 USD
Common	Sell Transaction	85	4.6151 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	5	4.5000 USD
Common	CFD	Increasing long position	3,805	4.5050 USD
Common	CFD	Increasing long position	1,000	4.5700 USD
Common	CFD	Increasing long position	600	4.5800 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

(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:	26 March 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	-800	5.0 USD	American	17/04/2025
Common	Put Option	Purchased	-3,800	4.0 USD	American	17/04/2025
Common	Put Option	Purchased	-104,200	6.0 USD	American	20/06/2025
Common	Call Option	Purchased	246,200	6.0 USD	American	18/07/2025
Common	Put Option	Purchased	-8,400	5.0 USD	American	16/01/2026
Common	Call Option	Purchased	700	10.0 USD	American	18/07/2025
Common	Call Option	Purchased	300	8.0 USD	American	20/06/2025
Common	Call Option	Purchased	600	10.0 USD	American	17/04/2025
Common	Call Option	Purchased	2,300	7.0 USD	American	20/06/2025
Common	Put Option	Purchased	-1,000	4.0 USD	American	16/01/2026
Common	Call Option	Purchased	900	5.0 USD	American	16/01/2026
Common	Call Option	Purchased	2,500	10.0 USD	American	16/01/2026
Common	Call Option	Purchased	600,000	6.0 USD	American	18/07/2025
Common	Put Option	Purchased	-4,300	4.0 USD	American	20/06/2025
Common	Call Option	Purchased	1,300	5.0 USD	American	16/05/2025
Common	Put Option	Purchased	-300	5.0 USD	American	17/10/2025
Common	Put Option	Purchased	-4,000	3.0 USD	American	16/01/2026
Common	Put Option	Purchased	-5,400	4.0 USD	American	18/07/2025
Common	Put Option	Purchased	-99,800	7.0 USD	American	20/06/2025
Common	Call Option	Purchased	1,000,000	5.0 USD	American	20/06/2025
Common	Put Option	Purchased	-700	7.0 USD	American	18/07/2025
Common	Call Option	Purchased	300	6.0 USD	American	17/10/2025
Common	Call Option	Purchased	10,000	5.0 USD	American	20/06/2025
Common	Put Option	Purchased	-1,400	5.0 USD	American	20/06/2025
Common	Call Option	Sold	-3,400	10.0 USD	American	17/07/2026
Common	Put Option	Sold	99,900	8.0 USD	American	20/06/2025
Common	Call Option	Sold	-29,400	8.0 USD	American	18/07/2025
Common	Call Option	Sold	-31,700	5.0 USD	American	17/07/2026
Common	Call Option	Sold	-800	12.0 USD	American	16/01/2026
Common	Call Option	Sold	-1,900	9.0 USD	American	17/04/2025
Common	Call Option	Sold	-118,200	7.0 USD	American	16/01/2026
Common	Call Option	Sold	-100,900	5.0 USD	American	18/07/2025
Common	Call Option	Sold	-12,700	7.0 USD	American	17/04/2025
Common	Call Option	Sold	-8,800	4.0 USD	American	20/06/2025
Common	Call Option	Sold	-3,600	4.0 USD	American	18/07/2025
Common	Call Option	Sold	-4,200	4.0 USD	American	17/04/2025
Common	Call Option	Sold	-1,700	6.0 USD	American	17/04/2025
Common	Put Option	Sold	600	6.0 USD	American	18/07/2025
Common	Call Option	Sold	-13,900	5.0 USD	American	17/04/2025
Common	Call Option	Sold	-2,500	4.0 USD	American	17/07/2026
Common	Put Option	Sold	74,900	7.0 USD	American	16/01/2026
Common	Call Option	Sold	-2,000	6.0 USD	American	20/06/2025
Common	Call Option	Sold	-8,600	8.0 USD	American	17/04/2025
Common	Call Option	Sold	-500	4.0 USD	American	16/01/2026
Common	Put Option	Sold	7,600	6.0 USD	American	17/04/2025
Common	Call Option	Sold	-200	7.0 USD	American	18/07/2025
Common	Call Option	Sold	-500	3.0 USD	American	17/07/2026
Common	Call Option	Sold	-1,000	3.0 USD	American	16/01/2026
Common	Call Option	Sold	-200	15.0 USD	American	16/01/2026
Common	Put Option	Sold	800	5.0 USD	American	18/07/2025

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 .

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