Citadel Group — Director's Dealing 2025

Mar 14, 2025

National Storage Mechanism | Additional information

RNS Number : 7334A

Citadel Group

14 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	13 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:	1,240,987	1.05	275,773	0.23
(2) Cash-settled derivatives:	0	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	1,039,200	0.88	607,700	0.51
TOTAL:	2,280,187	1.93	883,473	0.75

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	1	4.4000 USD
Common	Buy Transaction	99	4.4065 USD
Common	Buy Transaction	2,501	4.4100 USD
Common	Buy Transaction	1,244	4.4100 USD
Common	Buy Transaction	452	4.4104 USD
Common	Buy Transaction	53	4.4108 USD
Common	Buy Transaction	42	4.4110 USD
Common	Buy Transaction	501	4.4112 USD
Common	Buy Transaction	6,300	4.4130 USD
Common	Buy Transaction	11,337	4.4141 USD
Common	Buy Transaction	1,450	4.4150 USD
Common	Buy Transaction	155	4.4150 USD
Common	Buy Transaction	87	4.4151 USD
Common	Buy Transaction	42	4.4160 USD
Common	Buy Transaction	160	4.4175 USD
Common	Buy Transaction	1,498	4.4200 USD
Common	Buy Transaction	624	4.4201 USD
Common	Buy Transaction	677	4.4231 USD
Common	Buy Transaction	559	4.4248 USD
Common	Buy Transaction	2,379	4.4262 USD
Common	Buy Transaction	62	4.4266 USD
Common	Buy Transaction	550	4.4268 USD
Common	Buy Transaction	1,192	4.4289 USD
Common	Buy Transaction	113,170	4.4300 USD
Common	Buy Transaction	4,030	4.4300 USD
Common	Buy Transaction	63	4.4328 USD
Common	Buy Transaction	4,746	4.4331 USD
Common	Buy Transaction	254	4.4336 USD
Common	Buy Transaction	1,725	4.4344 USD
Common	Buy Transaction	8,100	4.4348 USD
Common	Buy Transaction	609	4.4348 USD
Common	Buy Transaction	200	4.4350 USD
Common	Buy Transaction	2,734	4.4359 USD
Common	Buy Transaction	72	4.4369 USD
Common	Buy Transaction	6,826	4.4371 USD
Common	Buy Transaction	545	4.4372 USD
Common	Buy Transaction	1,973	4.4374 USD
Common	Buy Transaction	273	4.4378 USD
Common	Buy Transaction	50	4.4380 USD
Common	Buy Transaction	700	4.4386 USD
Common	Buy Transaction	1,071	4.4392 USD
Common	Buy Transaction	2,189	4.4393 USD
Common	Buy Transaction	21	4.4395 USD
Common	Buy Transaction	5,762	4.4396 USD
Common	Buy Transaction	1,963	4.4397 USD
Common	Buy Transaction	3,448	4.4399 USD
Common	Buy Transaction	1,234	4.4400 USD
Common	Buy Transaction	30	4.4407 USD
Common	Buy Transaction	221	4.4408 USD
Common	Buy Transaction	127	4.4408 USD
Common	Buy Transaction	245	4.4418 USD
Common	Buy Transaction	109	4.4437 USD
Common	Buy Transaction	11	4.4445 USD
Common	Buy Transaction	3,465	4.4448 USD
Common	Buy Transaction	392	4.4450 USD
Common	Buy Transaction	11,579	4.4463 USD
Common	Buy Transaction	1,200	4.4467 USD
Common	Buy Transaction	151	4.4491 USD
Common	Buy Transaction	2,104	4.4499 USD
Common	Buy Transaction	383	4.4500 USD
Common	Buy Transaction	448	4.4500 USD
Common	Buy Transaction	2,000	4.4501 USD
Common	Buy Transaction	800	4.4538 USD
Common	Buy Transaction	585	4.4546 USD
Common	Buy Transaction	11,538	4.4550 USD
Common	Buy Transaction	200	4.4550 USD
Common	Buy Transaction	617	4.4559 USD
Common	Buy Transaction	500	4.4560 USD
Common	Buy Transaction	547	4.4564 USD
Common	Buy Transaction	290	4.4566 USD
Common	Buy Transaction	1,587	4.4568 USD
Common	Buy Transaction	519	4.4585 USD
Common	Buy Transaction	500	4.4600 USD
Common	Buy Transaction	235	4.4609 USD
Common	Buy Transaction	195	4.4610 USD
Common	Buy Transaction	53	4.4625 USD
Common	Buy Transaction	36,103	4.4658 USD
Common	Buy Transaction	418	4.4670 USD
Common	Buy Transaction	197	4.4687 USD
Common	Buy Transaction	323	4.4695 USD
Common	Buy Transaction	100	4.4700 USD
Common	Buy Transaction	700	4.4714 USD
Common	Buy Transaction	795	4.4767 USD
Common	Buy Transaction	1,248	4.4780 USD
Common	Buy Transaction	212	4.4783 USD
Common	Buy Transaction	301	4.4800 USD
Common	Buy Transaction	200	4.4950 USD
Common	Buy Transaction	1,097	4.4956 USD
Common	Buy Transaction	31	4.5003 USD
Common	Buy Transaction	10	4.5100 USD
Common	Buy Transaction	2,500	4.5103 USD
Common	Buy Transaction	797	4.5122 USD
Common	Buy Transaction	5	4.5200 USD
Common	Buy Transaction	140	4.5304 USD
Common	Buy Transaction	14	4.5350 USD
Common	Buy Transaction	1	4.5400 USD
Common	Buy Transaction	360	4.5500 USD
Common	Buy Transaction	67	4.5600 USD
Common	DVP Transaction	108	4.4000 USD
Common	DVP Transaction	100	4.4050 USD
Common	DVP Transaction	72	4.4061 USD
Common	DVP Transaction	44	4.4100 USD
Common	DVP Transaction	250	4.4150 USD
Common	DVP Transaction	132	4.4183 USD
Common	DVP Transaction	5	4.4200 USD
Common	DVP Transaction	94,900	4.4300 USD
Common	DVP Transaction	334	4.4395 USD
Common	DVP Transaction	176	4.4425 USD
Common	DVP Transaction	204	4.4446 USD
Common	DVP Transaction	144	4.4450 USD
Common	DVP Transaction	308	4.4457 USD
Common	DVP Transaction	104	4.4500 USD
Common	DVP Transaction	72	4.4628 USD
Common	DVP Transaction	76	4.4692 USD
Common	DVP Transaction	578	4.4800 USD
Common	DVP Transaction	58	4.4895 USD
Common	DVP Transaction	44	4.5000 USD
Common	DVP Transaction	2	4.5100 USD
Common	RVP Transaction	307	4.4118 USD
Common	RVP Transaction	207	4.4251 USD
Common	RVP Transaction	137	4.4289 USD
Common	RVP Transaction	94,768	4.4300 USD
Common	RVP Transaction	1,612	4.4429 USD
Common	RVP Transaction	100	4.4450 USD
Common	RVP Transaction	578	4.4800 USD
Common	RVP Transaction	2	4.5100 USD
Common	Sell Transaction	687	4.4000 USD
Common	Sell Transaction	14	4.4093 USD
Common	Sell Transaction	200	4.4100 USD
Common	Sell Transaction	86	4.4114 USD
Common	Sell Transaction	149	4.4150 USD
Common	Sell Transaction	1	4.4150 USD
Common	Sell Transaction	75	4.4151 USD
Common	Sell Transaction	115	4.4152 USD
Common	Sell Transaction	4,849	4.4198 USD
Common	Sell Transaction	1,852	4.4200 USD
Common	Sell Transaction	1,308	4.4207 USD
Common	Sell Transaction	178	4.4226 USD
Common	Sell Transaction	1,080	4.4239 USD
Common	Sell Transaction	769	4.4241 USD
Common	Sell Transaction	5,968	4.4249 USD
Common	Sell Transaction	440	4.4264 USD
Common	Sell Transaction	4,938	4.4292 USD
Common	Sell Transaction	106,367	4.4300 USD
Common	Sell Transaction	920	4.4307 USD
Common	Sell Transaction	29	4.4310 USD
Common	Sell Transaction	1,931	4.4318 USD
Common	Sell Transaction	410	4.4327 USD
Common	Sell Transaction	284	4.4330 USD
Common	Sell Transaction	1,066	4.4330 USD
Common	Sell Transaction	78	4.4338 USD
Common	Sell Transaction	56	4.4345 USD
Common	Sell Transaction	2,299	4.4353 USD
Common	Sell Transaction	1,126	4.4356 USD
Common	Sell Transaction	1,295	4.4361 USD
Common	Sell Transaction	15	4.4367 USD
Common	Sell Transaction	956	4.4369 USD
Common	Sell Transaction	188	4.4370 USD
Common	Sell Transaction	70	4.4371 USD
Common	Sell Transaction	1	4.4374 USD
Common	Sell Transaction	315	4.4376 USD
Common	Sell Transaction	4,975	4.4388 USD
Common	Sell Transaction	1,570	4.4390 USD
Common	Sell Transaction	3,637	4.4393 USD
Common	Sell Transaction	372	4.4394 USD
Common	Sell Transaction	1,410	4.4400 USD
Common	Sell Transaction	41	4.4402 USD
Common	Sell Transaction	258	4.4407 USD
Common	Sell Transaction	173	4.4416 USD
Common	Sell Transaction	4,152	4.4416 USD
Common	Sell Transaction	3,601	4.4417 USD
Common	Sell Transaction	12,481	4.4417 USD
Common	Sell Transaction	42	4.4419 USD
Common	Sell Transaction	200	4.4425 USD
Common	Sell Transaction	3,672	4.4435 USD
Common	Sell Transaction	2,887	4.4445 USD
Common	Sell Transaction	1,890	4.4450 USD
Common	Sell Transaction	46,915	4.4451 USD
Common	Sell Transaction	1,200	4.4456 USD
Common	Sell Transaction	1,816	4.4456 USD
Common	Sell Transaction	700	4.4457 USD
Common	Sell Transaction	1,380	4.4459 USD
Common	Sell Transaction	36	4.4461 USD
Common	Sell Transaction	387	4.4464 USD
Common	Sell Transaction	1,301	4.4466 USD
Common	Sell Transaction	300	4.4467 USD
Common	Sell Transaction	95	4.4474 USD
Common	Sell Transaction	687	4.4476 USD
Common	Sell Transaction	14	4.4479 USD
Common	Sell Transaction	663	4.4480 USD
Common	Sell Transaction	759	4.4484 USD
Common	Sell Transaction	8,286	4.4485 USD
Common	Sell Transaction	700	4.4486 USD
Common	Sell Transaction	7,240	4.4488 USD
Common	Sell Transaction	148	4.4495 USD
Common	Sell Transaction	33,578	4.4495 USD
Common	Sell Transaction	1,274	4.4500 USD
Common	Sell Transaction	864	4.4510 USD
Common	Sell Transaction	465	4.4525 USD
Common	Sell Transaction	6,980	4.4533 USD
Common	Sell Transaction	552	4.4539 USD
Common	Sell Transaction	1,000	4.4545 USD
Common	Sell Transaction	257	4.4545 USD
Common	Sell Transaction	21,382	4.4550 USD
Common	Sell Transaction	300	4.4550 USD
Common	Sell Transaction	521	4.4552 USD
Common	Sell Transaction	2,230	4.4557 USD
Common	Sell Transaction	8,978	4.4566 USD
Common	Sell Transaction	400	4.4575 USD
Common	Sell Transaction	4,729	4.4576 USD
Common	Sell Transaction	900	4.4578 USD
Common	Sell Transaction	1,986	4.4582 USD
Common	Sell Transaction	4,099	4.4585 USD
Common	Sell Transaction	200	4.4590 USD
Common	Sell Transaction	279	4.4592 USD
Common	Sell Transaction	211	4.4595 USD
Common	Sell Transaction	168	4.4600 USD
Common	Sell Transaction	118	4.4605 USD
Common	Sell Transaction	586	4.4613 USD
Common	Sell Transaction	7,500	4.4627 USD
Common	Sell Transaction	146	4.4640 USD
Common	Sell Transaction	4,316	4.4641 USD
Common	Sell Transaction	379	4.4643 USD
Common	Sell Transaction	2,068	4.4661 USD
Common	Sell Transaction	7,323	4.4700 USD
Common	Sell Transaction	265	4.4710 USD
Common	Sell Transaction	733	4.4747 USD
Common	Sell Transaction	2	4.4750 USD
Common	Sell Transaction	178	4.4751 USD
Common	Sell Transaction	1,216	4.4753 USD
Common	Sell Transaction	585	4.4774 USD
Common	Sell Transaction	2,528	4.4792 USD
Common	Sell Transaction	251	4.4795 USD
Common	Sell Transaction	246	4.4812 USD
Common	Sell Transaction	213	4.4853 USD
Common	Sell Transaction	202	4.4900 USD
Common	Sell Transaction	652	4.4941 USD
Common	Sell Transaction	331	4.5000 USD
Common	Sell Transaction	500	4.5020 USD
Common	Sell Transaction	500	4.5040 USD
Common	Sell Transaction	300	4.5067 USD
Common	Sell Transaction	100	4.5200 USD
Common	Sell Transaction	371	4.5229 USD
Common	Sell Transaction	67	4.5300 USD
Common	Sell Transaction	67	4.5351 USD
Common	Sell Transaction	501	4.5400 USD
Common	Sell Transaction	2,624	4.5500 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

(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	Put Option	Buy Transaction	10	4.0000 USD	American	2026-Jan-16	0.5000 USD
Common	Call Option	Sell Transaction	9	6.0000 USD	American	2025-Jun-20	0.1500 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:	14 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	Call Option	Purchased	600,000	6.0 USD	American	18/07/2025
Common	Put Option	Purchased	-700	7.0 USD	American	18/07/2025
Common	Put Option	Purchased	-800	5.0 USD	American	20/06/2025
Common	Put Option	Purchased	-800	5.0 USD	American	17/04/2025
Common	Put Option	Purchased	-4,300	4.0 USD	American	20/06/2025
Common	Put Option	Purchased	-104,200	6.0 USD	American	20/06/2025
Common	Call Option	Purchased	900	5.0 USD	American	16/01/2026
Common	Put Option	Purchased	-5,400	4.0 USD	American	18/07/2025
Common	Call Option	Purchased	2,300	7.0 USD	American	20/06/2025
Common	Put Option	Purchased	-100	8.0 USD	American	21/03/2025
Common	Call Option	Purchased	300	8.0 USD	American	20/06/2025
Common	Put Option	Purchased	-1,000	4.0 USD	American	16/01/2026
Common	Call Option	Purchased	246,200	6.0 USD	American	18/07/2025
Common	Call Option	Purchased	2,500	10.0 USD	American	16/01/2026
Common	Put Option	Purchased	-99,800	7.0 USD	American	20/06/2025
Common	Put Option	Purchased	-200	5.0 USD	American	18/07/2025
Common	Put Option	Purchased	-3,800	4.0 USD	American	17/04/2025
Common	Put Option	Purchased	-8,400	5.0 USD	American	16/01/2026
Common	Call Option	Purchased	700	4.0 USD	American	21/03/2025
Common	Call Option	Purchased	700	10.0 USD	American	18/07/2025
Common	Put Option	Purchased	-500	5.0 USD	American	17/10/2025
Common	Put Option	Purchased	-5,800	5.0 USD	American	21/03/2025
Common	Put Option	Purchased	-4,000	3.0 USD	American	16/01/2026
Common	Call Option	Purchased	600	10.0 USD	American	17/04/2025
Common	Call Option	Sold	-800	12.0 USD	American	16/01/2026
Common	Call Option	Sold	-1,600	5.0 USD	American	20/06/2025
Common	Call Option	Sold	-1,000	3.0 USD	American	16/01/2026
Common	Put Option	Sold	74,900	7.0 USD	American	16/01/2026
Common	Call Option	Sold	-1,900	9.0 USD	American	17/04/2025
Common	Put Option	Sold	99,900	8.0 USD	American	20/06/2025
Common	Call Option	Sold	-13,900	5.0 USD	American	17/04/2025
Common	Call Option	Sold	-8,600	8.0 USD	American	17/04/2025
Common	Call Option	Sold	-100,800	5.0 USD	American	18/07/2025
Common	Call Option	Sold	-3,400	10.0 USD	American	17/07/2026
Common	Call Option	Sold	-12,700	7.0 USD	American	17/04/2025
Common	Put Option	Sold	7,600	6.0 USD	American	17/04/2025
Common	Call Option	Sold	-31,700	5.0 USD	American	17/07/2026
Common	Call Option	Sold	-3,200	4.0 USD	American	17/04/2025
Common	Call Option	Sold	-200	7.0 USD	American	18/07/2025
Common	Call Option	Sold	-200	6.0 USD	American	17/10/2025
Common	Put Option	Sold	1,000	6.0 USD	American	18/07/2025
Common	Call Option	Sold	-500	4.0 USD	American	16/01/2026
Common	Call Option	Sold	-116,600	7.0 USD	American	16/01/2026
Common	Call Option	Sold	-3,600	4.0 USD	American	18/07/2025
Common	Call Option	Sold	-29,400	8.0 USD	American	18/07/2025
Common	Call Option	Sold	-200	15.0 USD	American	16/01/2026
Common	Call Option	Sold	-300	5.0 USD	American	21/03/2025
Common	Call Option	Sold	-500	3.0 USD	American	17/07/2026
Common	Put Option	Sold	1,600	4.0 USD	American	21/03/2025
Common	Call Option	Sold	-14,100	6.0 USD	American	21/03/2025
Common	Call Option	Sold	-2,000	6.0 USD	American	20/06/2025
Common	Call Option	Sold	-8,800	4.0 USD	American	20/06/2025
Common	Call Option	Sold	-1,700	6.0 USD	American	17/04/2025
Common	Call Option	Sold	-2,500	4.0 USD	American	17/07/2026
Common	Call Option	Sold	-7,700	7.0 USD	American	21/03/2025

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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