Citadel Group

Major Shareholding Notification • Aug 8, 2025

National Storage Mechanism | Additional information

RNS Number : 6577U

Citadel Group

08 August 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	7 August 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:	1,448,556	1.22	390,129	0.32
(2) Cash-settled derivatives:	83,970	0.07	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	203,400	0.17	596,600	0.50
TOTAL:	1,735,926	1.46	986,729	0.83

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	514	4.5234 USD
Common	Buy Transaction	200	4.5250 USD
Common	Buy Transaction	21,100	4.5299 USD
Common	Buy Transaction	509	4.5300 USD
Common	Buy Transaction	630	4.5361 USD
Common	Buy Transaction	1	4.5400 USD
Common	Buy Transaction	10	4.5410 USD
Common	Buy Transaction	637	4.5418 USD
Common	Buy Transaction	5,577	4.5465 USD
Common	Buy Transaction	300	4.5467 USD
Common	Buy Transaction	4,084	4.5491 USD
Common	Buy Transaction	800	4.5500 USD
Common	Buy Transaction	500	4.5560 USD
Common	Buy Transaction	215	4.5562 USD
Common	Buy Transaction	357	4.5568 USD
Common	Buy Transaction	75	4.5592 USD
Common	Buy Transaction	1,310	4.5600 USD
Common	Buy Transaction	7,474	4.5611 USD
Common	Buy Transaction	6,567	4.5613 USD
Common	Buy Transaction	2,120	4.5617 USD
Common	Buy Transaction	9	4.5622 USD
Common	Buy Transaction	10,448	4.5648 USD
Common	Buy Transaction	1,200	4.5650 USD
Common	Buy Transaction	5,261	4.5655 USD
Common	Buy Transaction	800	4.5663 USD
Common	Buy Transaction	400	4.5675 USD
Common	Buy Transaction	1,245	4.5679 USD
Common	Buy Transaction	973	4.5687 USD
Common	Buy Transaction	1,000	4.5690 USD
Common	Buy Transaction	1	4.5691 USD
Common	Buy Transaction	459	4.5696 USD
Common	Buy Transaction	1,711	4.5700 USD
Common	Buy Transaction	593	4.5713 USD
Common	Buy Transaction	150	4.5718 USD
Common	Buy Transaction	54	4.5719 USD
Common	Buy Transaction	1,300	4.5719 USD
Common	Buy Transaction	164	4.5726 USD
Common	Buy Transaction	2,784	4.5731 USD
Common	Buy Transaction	4,295	4.5743 USD
Common	Buy Transaction	480	4.5746 USD
Common	Buy Transaction	3,000	4.5746 USD
Common	Buy Transaction	1,898	4.5747 USD
Common	Buy Transaction	1,906	4.5748 USD
Common	Buy Transaction	800	4.5748 USD
Common	Buy Transaction	200	4.5750 USD
Common	Buy Transaction	2,750	4.5756 USD
Common	Buy Transaction	2,064	4.5766 USD
Common	Buy Transaction	500	4.5780 USD
Common	Buy Transaction	590	4.5781 USD
Common	Buy Transaction	1,544	4.5785 USD
Common	Buy Transaction	258	4.5788 USD
Common	Buy Transaction	3,400	4.5791 USD
Common	Buy Transaction	63,072	4.5800 USD
Common	Buy Transaction	507	4.5801 USD
Common	Buy Transaction	451	4.5807 USD
Common	Buy Transaction	1	4.5814 USD
Common	Buy Transaction	1,159	4.5823 USD
Common	Buy Transaction	3,221	4.5825 USD
Common	Buy Transaction	411	4.5827 USD
Common	Buy Transaction	557	4.5827 USD
Common	Buy Transaction	4,560	4.5828 USD
Common	Buy Transaction	300	4.5833 USD
Common	Buy Transaction	400	4.5850 USD
Common	Buy Transaction	318	4.5852 USD
Common	Buy Transaction	891	4.5865 USD
Common	Buy Transaction	600	4.5867 USD
Common	Buy Transaction	100	4.5894 USD
Common	Buy Transaction	2,105	4.5899 USD
Common	Buy Transaction	13,494	4.5900 USD
Common	Buy Transaction	1,200	4.5900 USD
Common	Buy Transaction	1,161	4.5916 USD
Common	Buy Transaction	1,315	4.5917 USD
Common	Buy Transaction	81	4.5922 USD
Common	Buy Transaction	1	4.5936 USD
Common	Buy Transaction	109	4.5949 USD
Common	Buy Transaction	18,857	4.5949 USD
Common	Buy Transaction	620	4.5950 USD
Common	Buy Transaction	209	4.5964 USD
Common	Buy Transaction	19,369	4.5992 USD
Common	Buy Transaction	122	4.6000 USD
Common	Buy Transaction	932	4.6013 USD
Common	Buy Transaction	7,900	4.6100 USD
Common	Buy Transaction	6,497	4.6100 USD
Common	Buy Transaction	6,400	4.6142 USD
Common	Buy Transaction	3,000	4.6200 USD
Common	Buy Transaction	3,526	4.6297 USD
Common	Buy Transaction	6,811	4.6300 USD
Common	Sell Transaction	72	4.5200 USD
Common	Sell Transaction	4,429	4.5344 USD
Common	Sell Transaction	20	4.5385 USD
Common	Sell Transaction	9,745	4.5400 USD
Common	Sell Transaction	669	4.5416 USD
Common	Sell Transaction	2,155	4.5444 USD
Common	Sell Transaction	200	4.5450 USD
Common	Sell Transaction	21	4.5469 USD
Common	Sell Transaction	35	4.5476 USD
Common	Sell Transaction	432	4.5477 USD
Common	Sell Transaction	486	4.5481 USD
Common	Sell Transaction	1,800	4.5494 USD
Common	Sell Transaction	2,900	4.5500 USD
Common	Sell Transaction	102	4.5508 USD
Common	Sell Transaction	840	4.5515 USD
Common	Sell Transaction	288	4.5522 USD
Common	Sell Transaction	2,059	4.5538 USD
Common	Sell Transaction	30	4.5550 USD
Common	Sell Transaction	688	4.5559 USD
Common	Sell Transaction	3,901	4.5560 USD
Common	Sell Transaction	247	4.5562 USD
Common	Sell Transaction	6,160	4.5600 USD
Common	Sell Transaction	145	4.5602 USD
Common	Sell Transaction	82	4.5602 USD
Common	Sell Transaction	1,628	4.5605 USD
Common	Sell Transaction	256	4.5609 USD
Common	Sell Transaction	14,159	4.5615 USD
Common	Sell Transaction	572	4.5635 USD
Common	Sell Transaction	500	4.5640 USD
Common	Sell Transaction	1,269	4.5641 USD
Common	Sell Transaction	416	4.5643 USD
Common	Sell Transaction	842	4.5645 USD
Common	Sell Transaction	57	4.5647 USD
Common	Sell Transaction	420	4.5650 USD
Common	Sell Transaction	311	4.5650 USD
Common	Sell Transaction	380	4.5653 USD
Common	Sell Transaction	1,275	4.5657 USD
Common	Sell Transaction	282	4.5658 USD
Common	Sell Transaction	300	4.5667 USD
Common	Sell Transaction	7,273	4.5671 USD
Common	Sell Transaction	725	4.5675 USD
Common	Sell Transaction	3,786	4.5686 USD
Common	Sell Transaction	2,815	4.5686 USD
Common	Sell Transaction	655	4.5690 USD
Common	Sell Transaction	312	4.5690 USD
Common	Sell Transaction	56	4.5700 USD
Common	Sell Transaction	1,032	4.5713 USD
Common	Sell Transaction	84	4.5714 USD
Common	Sell Transaction	504	4.5715 USD
Common	Sell Transaction	5,408	4.5748 USD
Common	Sell Transaction	25	4.5752 USD
Common	Sell Transaction	8,362	4.5757 USD
Common	Sell Transaction	648	4.5766 USD
Common	Sell Transaction	77	4.5773 USD
Common	Sell Transaction	15,389	4.5783 USD
Common	Sell Transaction	231	4.5791 USD
Common	Sell Transaction	62,467	4.5800 USD
Common	Sell Transaction	303	4.5805 USD
Common	Sell Transaction	2,424	4.5805 USD
Common	Sell Transaction	12,358	4.5810 USD
Common	Sell Transaction	3,200	4.5820 USD
Common	Sell Transaction	112	4.5833 USD
Common	Sell Transaction	303	4.5833 USD
Common	Sell Transaction	300	4.5833 USD
Common	Sell Transaction	23	4.5848 USD
Common	Sell Transaction	432	4.5850 USD
Common	Sell Transaction	2,183	4.5850 USD
Common	Sell Transaction	170	4.5859 USD
Common	Sell Transaction	3,700	4.5868 USD
Common	Sell Transaction	7	4.5871 USD
Common	Sell Transaction	3,540	4.5872 USD
Common	Sell Transaction	281	4.5884 USD
Common	Sell Transaction	56	4.5889 USD
Common	Sell Transaction	61	4.5893 USD
Common	Sell Transaction	1,438	4.5894 USD
Common	Sell Transaction	15,420	4.5900 USD
Common	Sell Transaction	1	4.5906 USD
Common	Sell Transaction	84	4.5914 USD
Common	Sell Transaction	49	4.5929 USD
Common	Sell Transaction	500	4.5940 USD
Common	Sell Transaction	1,290	4.5950 USD
Common	Sell Transaction	109	4.5950 USD
Common	Sell Transaction	103	4.5960 USD
Common	Sell Transaction	469	4.5962 USD
Common	Sell Transaction	8	4.5963 USD
Common	Sell Transaction	60	4.5967 USD
Common	Sell Transaction	1,150	4.5975 USD
Common	Sell Transaction	353	4.5987 USD
Common	Sell Transaction	1,493	4.5991 USD
Common	Sell Transaction	180	4.5992 USD
Common	Sell Transaction	110	4.5996 USD
Common	Sell Transaction	142	4.5999 USD
Common	Sell Transaction	2,309	4.6000 USD
Common	Sell Transaction	320	4.6002 USD
Common	Sell Transaction	891	4.6028 USD
Common	Sell Transaction	116	4.6034 USD
Common	Sell Transaction	983	4.6040 USD
Common	Sell Transaction	1,689	4.6044 USD
Common	Sell Transaction	144	4.6050 USD
Common	Sell Transaction	0	4.6066 USD
Common	Sell Transaction	56	4.6074 USD
Common	Sell Transaction	144	4.6075 USD
Common	Sell Transaction	1,657	4.6093 USD
Common	Sell Transaction	3,103	4.6100 USD
Common	Sell Transaction	200	4.6110 USD
Common	Sell Transaction	38	4.6118 USD
Common	Sell Transaction	37	4.6132 USD
Common	Sell Transaction	600	4.6150 USD
Common	Sell Transaction	82	4.6163 USD
Common	Sell Transaction	246	4.6181 USD
Common	Sell Transaction	2,200	4.6182 USD
Common	Sell Transaction	400	4.6188 USD
Common	Sell Transaction	5,697	4.6200 USD
Common	Sell Transaction	3,253	4.6209 USD
Common	Sell Transaction	700	4.6214 USD
Common	Sell Transaction	1,382	4.6218 USD
Common	Sell Transaction	200	4.6225 USD
Common	Sell Transaction	673	4.6243 USD
Common	Sell Transaction	1,300	4.6250 USD
Common	Sell Transaction	228	4.6254 USD
Common	Sell Transaction	602	4.6300 USD
Common	Sell Transaction	100	4.6350 USD
Common	Sell Transaction	150	4.6923 USD
Common	Sell Transaction	400	4.6959 USD
Common	Sell Transaction	500	4.6975 USD
Common	Sell Transaction	100	4.7048 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	Reducing long position	39,494	4.5849 USD
Common	CFD	Reducing long position	6,000	4.5862 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	100	8.0000 USD	American	2026-01-16	0.1000 USD
Common	Call Option	Buy Transaction	100	5.0000 USD	American	2025-08-15	0.1200 USD
Common	Call Option	Buy Transaction	700	6.0000 USD	American	2025-10-17	0.1300 USD
Common	Call Option	Buy Transaction	200	7.0000 USD	American	2026-01-16	0.2000 USD
Common	Call Option	Sell Transaction	400	5.0000 USD	American	2025-08-15	0.1400 USD
Common	Call Option	Sell Transaction	700	4.0000 USD	American	2025-10-17	0.8500 USD
Common	Call Option	Sell Transaction	100	4.0000 USD	American	2025-10-17	0.8800 USD
Common	Call Option	Sell Transaction	200	3.0000 USD	American	2025-10-17	1.6500 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:	8 August 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	-1,900	4.0 USD	American	15/08/2025
Common	Call Option	Purchased	300	15.0 USD	American	16/01/2026
Common	Put Option	Purchased	-100	7.0 USD	American	17/10/2025
Common	Put Option	Purchased	-201,400	4.0 USD	American	16/01/2026
Common	Call Option	Purchased	36,200	6.0 USD	American	16/01/2026
Common	Put Option	Purchased	-900	5.0 USD	American	17/10/2025
Common	Put Option	Purchased	-12,100	3.0 USD	American	15/08/2025
Common	Put Option	Purchased	-8,200	6.0 USD	American	16/01/2026
Common	Put Option	Purchased	-600	5.0 USD	American	19/09/2025
Common	Put Option	Purchased	-200	7.0 USD	American	15/08/2025
Common	Call Option	Purchased	3,000	10.0 USD	American	16/01/2026
Common	Call Option	Purchased	300	2.0 USD	American	17/10/2025
Common	Call Option	Purchased	300	7.0 USD	American	17/10/2025
Common	Call Option	Purchased	100	8.0 USD	American	16/01/2026
Common	Call Option	Purchased	1,000	3.0 USD	American	15/08/2025
Common	Call Option	Purchased	44,100	6.0 USD	American	17/10/2025
Common	Call Option	Purchased	600	5.0 USD	American	19/09/2025
Common	Put Option	Purchased	-1,200	5.0 USD	American	17/07/2026
Common	Call Option	Purchased	5,000	5.0 USD	American	15/08/2025
Common	Call Option	Purchased	5,200	6.0 USD	American	19/09/2025
Common	Call Option	Purchased	18,000	4.0 USD	American	17/10/2025
Common	Put Option	Purchased	-13,200	3.0 USD	American	16/01/2026
Common	Put Option	Purchased	-1,000	6.0 USD	American	15/08/2025
Common	Call Option	Sold	-2,000	10.0 USD	American	17/07/2026
Common	Call Option	Sold	-48,500	5.0 USD	American	16/01/2026
Common	Call Option	Sold	-2,500	4.0 USD	American	17/07/2026
Common	Call Option	Sold	-1,400	3.0 USD	American	16/01/2026
Common	Call Option	Sold	-2,200	3.0 USD	American	17/10/2025
Common	Call Option	Sold	-1,000	7.0 USD	American	17/07/2026
Common	Call Option	Sold	-139,400	5.0 USD	American	17/10/2025
Common	Call Option	Sold	-100	2.0 USD	American	17/07/2026
Common	Put Option	Sold	600	3.0 USD	American	17/10/2025
Common	Call Option	Sold	-2,700	4.0 USD	American	15/08/2025
Common	Put Option	Sold	88,700	5.0 USD	American	16/01/2026
Common	Call Option	Sold	-116,800	7.0 USD	American	16/01/2026
Common	Call Option	Sold	-1,400	4.0 USD	American	16/01/2026
Common	Call Option	Sold	-300	3.0 USD	American	17/07/2026
Common	Call Option	Sold	-100	1.0 USD	American	17/07/2026
Common	Call Option	Sold	-36,700	5.0 USD	American	17/07/2026
Common	Call Option	Sold	-700	12.0 USD	American	16/01/2026

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 .

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