Citadel Group — Major Shareholding Notification 2025

Feb 11, 2025

National Storage Mechanism | Additional information

RNS Number : 7202W

Citadel Group

11 February 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	10 February 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:	991,266	0.84	1,220,766	1.03
(2) Cash-settled derivatives:	0	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	393,000	0.33	542,200	0.46
TOTAL:	1,384,266	1.17	1,762,966	1.49

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	82,169	4.9000 USD
Common	Buy Transaction	399	4.9025 USD
Common	Buy Transaction	500	4.9040 USD
Common	Buy Transaction	12	4.9075 USD
Common	Buy Transaction	123	4.9100 USD
Common	Buy Transaction	1,874	4.9101 USD
Common	Buy Transaction	177	4.9118 USD
Common	Buy Transaction	2,002	4.9200 USD
Common	Buy Transaction	4,862	4.9200 USD
Common	Buy Transaction	1,900	4.9205 USD
Common	Buy Transaction	2,449	4.9237 USD
Common	Buy Transaction	800	4.9250 USD
Common	Buy Transaction	2,455	4.9316 USD
Common	Buy Transaction	310	4.9325 USD
Common	Buy Transaction	2,700	4.9380 USD
Common	Buy Transaction	1,442	4.9393 USD
Common	Buy Transaction	4,577	4.9400 USD
Common	Buy Transaction	286	4.9407 USD
Common	Buy Transaction	21	4.9433 USD
Common	Buy Transaction	4,805	4.9441 USD
Common	Buy Transaction	923	4.9452 USD
Common	Buy Transaction	1,423	4.9472 USD
Common	Buy Transaction	25	4.9480 USD
Common	Buy Transaction	482	4.9532 USD
Common	Buy Transaction	16	4.9554 USD
Common	Buy Transaction	1,080	4.9556 USD
Common	Buy Transaction	3,780	4.9558 USD
Common	Buy Transaction	18,850	4.9609 USD
Common	Buy Transaction	186	4.9637 USD
Common	Buy Transaction	519	4.9662 USD
Common	Buy Transaction	134	4.9670 USD
Common	Buy Transaction	361	4.9691 USD
Common	Buy Transaction	22	4.9691 USD
Common	Buy Transaction	5	4.9700 USD
Common	Buy Transaction	134	4.9710 USD
Common	Buy Transaction	220	4.9711 USD
Common	Buy Transaction	655	4.9726 USD
Common	Buy Transaction	16,580	4.9737 USD
Common	Buy Transaction	1,976	4.9748 USD
Common	Buy Transaction	300	4.9767 USD
Common	Buy Transaction	31	4.9795 USD
Common	Buy Transaction	1,142	4.9800 USD
Common	Buy Transaction	101	4.9802 USD
Common	Buy Transaction	1,860	4.9808 USD
Common	Buy Transaction	145	4.9858 USD
Common	Buy Transaction	316	4.9863 USD
Common	Buy Transaction	5,294	4.9872 USD
Common	Buy Transaction	2,369	4.9888 USD
Common	Buy Transaction	700	4.9900 USD
Common	Buy Transaction	72	4.9906 USD
Common	Buy Transaction	8,792	4.9906 USD
Common	Buy Transaction	259	4.9906 USD
Common	Buy Transaction	244	4.9908 USD
Common	Buy Transaction	119	4.9910 USD
Common	Buy Transaction	281	4.9917 USD
Common	Buy Transaction	815	4.9963 USD
Common	Buy Transaction	9,692	4.9966 USD
Common	Buy Transaction	578	4.9993 USD
Common	Buy Transaction	1,225	5.0000 USD
Common	Buy Transaction	1,023	5.0002 USD
Common	Buy Transaction	1,285	5.0003 USD
Common	Buy Transaction	277	5.0009 USD
Common	Buy Transaction	1,949	5.0021 USD
Common	Buy Transaction	1,854	5.0021 USD
Common	Buy Transaction	9	5.0028 USD
Common	Buy Transaction	483	5.0035 USD
Common	Buy Transaction	610	5.0039 USD
Common	Buy Transaction	335	5.0042 USD
Common	Buy Transaction	2,196	5.0051 USD
Common	Buy Transaction	678	5.0053 USD
Common	Buy Transaction	2,151	5.0100 USD
Common	Buy Transaction	34	5.0138 USD
Common	Buy Transaction	364	5.0142 USD
Common	Buy Transaction	10	5.0145 USD
Common	Buy Transaction	200	5.0150 USD
Common	Buy Transaction	323	5.0151 USD
Common	Buy Transaction	333	5.0151 USD
Common	Buy Transaction	3,259	5.0157 USD
Common	Buy Transaction	215	5.0167 USD
Common	Buy Transaction	198	5.0172 USD
Common	Buy Transaction	3,284	5.0200 USD
Common	Buy Transaction	28,072	5.0201 USD
Common	Buy Transaction	1,602	5.0225 USD
Common	Buy Transaction	524	5.0232 USD
Common	Buy Transaction	200	5.0239 USD
Common	Buy Transaction	100	5.0250 USD
Common	Buy Transaction	5,389	5.0284 USD
Common	Buy Transaction	2,622	5.0292 USD
Common	Buy Transaction	2,213	5.0300 USD
Common	Buy Transaction	108	5.0307 USD
Common	Buy Transaction	416	5.0324 USD
Common	Buy Transaction	4,486	5.0327 USD
Common	Buy Transaction	341	5.0337 USD
Common	Buy Transaction	700	5.0343 USD
Common	Buy Transaction	300	5.0350 USD
Common	Buy Transaction	2,626	5.0356 USD
Common	Buy Transaction	1,038	5.0360 USD
Common	Buy Transaction	42	5.0376 USD
Common	Buy Transaction	3,448	5.0388 USD
Common	Buy Transaction	300	5.0390 USD
Common	Buy Transaction	102	5.0390 USD
Common	Buy Transaction	131	5.0394 USD
Common	Buy Transaction	2,131	5.0398 USD
Common	Buy Transaction	6,289	5.0400 USD
Common	Buy Transaction	1	5.0454 USD
Common	Buy Transaction	31	5.0500 USD
Common	DVP Transaction	46,964	4.9000 USD
Common	DVP Transaction	503	4.9001 USD
Common	DVP Transaction	1,204	4.9378 USD
Common	DVP Transaction	148	4.9665 USD
Common	DVP Transaction	106	4.9717 USD
Common	DVP Transaction	11	5.0000 USD
Common	DVP Transaction	2	5.0300 USD
Common	DVP Transaction	1	5.0700 USD
Common	DVP Transaction	160	5.0781 USD
Common	DVP Transaction	275	5.0800 USD
Common	RVP Transaction	47,058	4.9000 USD
Common	RVP Transaction	6	4.9050 USD
Common	RVP Transaction	83	4.9051 USD
Common	RVP Transaction	49	4.9100 USD
Common	RVP Transaction	388	4.9276 USD
Common	RVP Transaction	30	4.9290 USD
Common	RVP Transaction	671	4.9441 USD
Common	RVP Transaction	217	4.9480 USD
Common	RVP Transaction	182	4.9498 USD
Common	RVP Transaction	30	4.9550 USD
Common	RVP Transaction	106	4.9717 USD
Common	RVP Transaction	192	4.9750 USD
Common	RVP Transaction	18	4.9817 USD
Common	RVP Transaction	24	4.9825 USD
Common	RVP Transaction	22	4.9850 USD
Common	RVP Transaction	12	5.0050 USD
Common	RVP Transaction	10	5.0080 USD
Common	RVP Transaction	1	5.0300 USD
Common	RVP Transaction	275	5.0800 USD
Common	Sell Transaction	63,851	4.9000 USD
Common	Sell Transaction	800	4.9025 USD
Common	Sell Transaction	506	4.9040 USD
Common	Sell Transaction	166	4.9053 USD
Common	Sell Transaction	33	4.9091 USD
Common	Sell Transaction	3,500	4.9093 USD
Common	Sell Transaction	19	4.9100 USD
Common	Sell Transaction	967	4.9135 USD
Common	Sell Transaction	600	4.9167 USD
Common	Sell Transaction	2,002	4.9200 USD
Common	Sell Transaction	411	4.9200 USD
Common	Sell Transaction	1,759	4.9206 USD
Common	Sell Transaction	220	4.9210 USD
Common	Sell Transaction	1,707	4.9267 USD
Common	Sell Transaction	1,547	4.9278 USD
Common	Sell Transaction	10	4.9280 USD
Common	Sell Transaction	109	4.9299 USD
Common	Sell Transaction	3,253	4.9307 USD
Common	Sell Transaction	279	4.9318 USD
Common	Sell Transaction	1,172	4.9322 USD
Common	Sell Transaction	19,756	4.9323 USD
Common	Sell Transaction	40	4.9325 USD
Common	Sell Transaction	529	4.9338 USD
Common	Sell Transaction	1,648	4.9391 USD
Common	Sell Transaction	520	4.9400 USD
Common	Sell Transaction	7,973	4.9415 USD
Common	Sell Transaction	18,294	4.9424 USD
Common	Sell Transaction	547	4.9431 USD
Common	Sell Transaction	175	4.9433 USD
Common	Sell Transaction	11,478	4.9435 USD
Common	Sell Transaction	200	4.9450 USD
Common	Sell Transaction	448	4.9471 USD
Common	Sell Transaction	300	4.9500 USD
Common	Sell Transaction	38,181	4.9524 USD
Common	Sell Transaction	300	4.9533 USD
Common	Sell Transaction	3,079	4.9577 USD
Common	Sell Transaction	17	4.9607 USD
Common	Sell Transaction	11,830	4.9640 USD
Common	Sell Transaction	222	4.9650 USD
Common	Sell Transaction	875	4.9672 USD
Common	Sell Transaction	782	4.9675 USD
Common	Sell Transaction	400	4.9675 USD
Common	Sell Transaction	4,038	4.9689 USD
Common	Sell Transaction	1,666	4.9700 USD
Common	Sell Transaction	2,074	4.9711 USD
Common	Sell Transaction	618	4.9724 USD
Common	Sell Transaction	264	4.9744 USD
Common	Sell Transaction	2,343	4.9748 USD
Common	Sell Transaction	486	4.9756 USD
Common	Sell Transaction	234	4.9763 USD
Common	Sell Transaction	1,500	4.9780 USD
Common	Sell Transaction	255	4.9800 USD
Common	Sell Transaction	2,610	4.9834 USD
Common	Sell Transaction	218	4.9837 USD
Common	Sell Transaction	200	4.9850 USD
Common	Sell Transaction	5,627	4.9860 USD
Common	Sell Transaction	2,558	4.9872 USD
Common	Sell Transaction	19	4.9876 USD
Common	Sell Transaction	1,043	4.9885 USD
Common	Sell Transaction	228	4.9900 USD
Common	Sell Transaction	2,303	4.9904 USD
Common	Sell Transaction	2,252	4.9906 USD
Common	Sell Transaction	1,349	4.9921 USD
Common	Sell Transaction	500	4.9940 USD
Common	Sell Transaction	6,715	4.9963 USD
Common	Sell Transaction	300	4.9967 USD
Common	Sell Transaction	253	4.9991 USD
Common	Sell Transaction	1,827	4.9992 USD
Common	Sell Transaction	151	4.9999 USD
Common	Sell Transaction	600	5.0000 USD
Common	Sell Transaction	31,500	5.0005 USD
Common	Sell Transaction	13,690	5.0036 USD
Common	Sell Transaction	1,470	5.0050 USD
Common	Sell Transaction	410	5.0056 USD
Common	Sell Transaction	571	5.0062 USD
Common	Sell Transaction	300	5.0067 USD
Common	Sell Transaction	162	5.0070 USD
Common	Sell Transaction	1,980	5.0079 USD
Common	Sell Transaction	510	5.0084 USD
Common	Sell Transaction	1,892	5.0100 USD
Common	Sell Transaction	550	5.0119 USD
Common	Sell Transaction	272	5.0148 USD
Common	Sell Transaction	400	5.0175 USD
Common	Sell Transaction	11	5.0191 USD
Common	Sell Transaction	1,156	5.0193 USD
Common	Sell Transaction	2,000	5.0193 USD
Common	Sell Transaction	31	5.0194 USD
Common	Sell Transaction	915	5.0200 USD
Common	Sell Transaction	412	5.0210 USD
Common	Sell Transaction	523	5.0247 USD
Common	Sell Transaction	721	5.0247 USD
Common	Sell Transaction	600	5.0250 USD
Common	Sell Transaction	215	5.0265 USD
Common	Sell Transaction	1,300	5.0273 USD
Common	Sell Transaction	11	5.0291 USD
Common	Sell Transaction	69	5.0291 USD
Common	Sell Transaction	50	5.0292 USD
Common	Sell Transaction	908	5.0300 USD
Common	Sell Transaction	415	5.0328 USD
Common	Sell Transaction	3,102	5.0329 USD
Common	Sell Transaction	128	5.0356 USD
Common	Sell Transaction	12	5.0375 USD
Common	Sell Transaction	1,786	5.0382 USD
Common	Sell Transaction	7,705	5.0400 USD
Common	Sell Transaction	1,336	5.0407 USD
Common	Sell Transaction	308	5.0418 USD
Common	Sell Transaction	300	5.0433 USD
Common	Sell Transaction	220	5.0450 USD
Common	Sell Transaction	1,904	5.0500 USD
Common	Sell Transaction	74	5.0600 USD
Common	Sell Transaction	100	5.0800 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	2	4.0000 USD	American	2025-Apr-17	0.1000 USD
Common	Put Option	Buy Transaction	1	4.0000 USD	American	2025-Jul-18	0.2100 USD
Common	Put Option	Sell Transaction	1	4.0000 USD	American	2025-Mar-21	0.1500 USD
Common	Call Option	Sell Transaction	44	6.0000 USD	American	2025-Jul-18	0.3500 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:	11 February 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	700	10.0 USD	American	18/07/2025
Common	Put Option	Purchased	-4,900	5.0 USD	American	21/03/2025
Common	Put Option	Purchased	-1,100	5.0 USD	American	18/07/2025
Common	Call Option	Purchased	2,100	6.0 USD	American	21/02/2025
Common	Put Option	Purchased	-3,900	4.0 USD	American	17/04/2025
Common	Call Option	Purchased	300	8.0 USD	American	20/06/2025
Common	Put Option	Purchased	-800	5.0 USD	American	20/06/2025
Common	Put Option	Purchased	-100,000	7.0 USD	American	20/06/2025
Common	Put Option	Purchased	-100	7.0 USD	American	21/02/2025
Common	Call Option	Purchased	600	10.0 USD	American	17/04/2025
Common	Call Option	Purchased	900	5.0 USD	American	16/01/2026
Common	Put Option	Purchased	-104,200	6.0 USD	American	20/06/2025
Common	Put Option	Purchased	-600	6.0 USD	American	21/02/2025
Common	Call Option	Purchased	188,900	6.0 USD	American	18/07/2025
Common	Call Option	Purchased	2,500	10.0 USD	American	16/01/2026
Common	Put Option	Purchased	-4,000	4.0 USD	American	20/06/2025
Common	Put Option	Purchased	-4,000	3.0 USD	American	16/01/2026
Common	Call Option	Purchased	2,500	7.0 USD	American	20/06/2025
Common	Call Option	Purchased	1,200	6.0 USD	American	17/04/2025
Common	Put Option	Purchased	-8,400	5.0 USD	American	16/01/2026
Common	Call Option	Purchased	100	6.0 USD	American	20/06/2025
Common	Put Option	Purchased	-6,700	5.0 USD	American	21/02/2025
Common	Put Option	Purchased	-800	7.0 USD	American	18/07/2025
Common	Put Option	Purchased	-5,400	4.0 USD	American	18/07/2025
Common	Put Option	Sold	99,900	8.0 USD	American	20/06/2025
Common	Call Option	Sold	-100	5.0 USD	American	21/03/2025
Common	Call Option	Sold	-1,000	5.0 USD	American	21/02/2025
Common	Call Option	Sold	-700	10.0 USD	American	17/07/2026
Common	Call Option	Sold	-1,500	7.0 USD	American	21/03/2025
Common	Put Option	Sold	9,200	5.0 USD	American	17/04/2025
Common	Call Option	Sold	-100,900	5.0 USD	American	18/07/2025
Common	Put Option	Sold	7,500	6.0 USD	American	17/04/2025
Common	Call Option	Sold	-3,600	6.0 USD	American	21/03/2025
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	-9,100	5.0 USD	American	17/04/2025
Common	Call Option	Sold	-500	4.0 USD	American	16/01/2026
Common	Call Option	Sold	-600	4.0 USD	American	21/02/2025
Common	Call Option	Sold	-14,800	7.0 USD	American	17/04/2025
Common	Put Option	Sold	200	7.0 USD	American	17/04/2025
Common	Call Option	Sold	-1,000	7.0 USD	American	21/02/2025
Common	Put Option	Sold	100	4.0 USD	American	21/03/2025
Common	Call Option	Sold	-200	15.0 USD	American	16/01/2026
Common	Call Option	Sold	-1,000	3.0 USD	American	16/01/2026
Common	Call Option	Sold	-200	7.0 USD	American	18/07/2025
Common	Put Option	Sold	75,400	7.0 USD	American	16/01/2026
Common	Call Option	Sold	-1,000	5.0 USD	American	20/06/2025
Common	Put Option	Sold	900	6.0 USD	American	18/07/2025
Common	Call Option	Sold	-118,700	7.0 USD	American	16/01/2026
Common	Call Option	Sold	-8,600	8.0 USD	American	17/04/2025
Common	Call Option	Sold	-1,700	4.0 USD	American	17/04/2025
Common	Call Option	Sold	-29,400	8.0 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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