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Citadel Group Major Shareholding Notification 2025

Feb 28, 2025

10454_pos_2025-02-28_0b1f6ba7-9461-46d5-80fe-617ecbc07cb9.html

Major Shareholding Notification

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National Storage Mechanism | Additional information

RNS Number : 9368Y

Citadel Group

28 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
27 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: 1,128,360 0.95 1,203,173 1.02
(2) Cash-settled derivatives: 0 0.00 0 0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell: 448,200 0.38 587,000 0.49
TOTAL: 1,576,560 1.34 1,790,173 1.52

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 2,748 4.9192 USD
Common Buy Transaction 301 4.9200 USD
Common Buy Transaction 100 4.9250 USD
Common Buy Transaction 600 4.9258 USD
Common Buy Transaction 632 4.9300 USD
Common Buy Transaction 500 4.9309 USD
Common Buy Transaction 6 4.9317 USD
Common Buy Transaction 696 4.9420 USD
Common Buy Transaction 2,200 4.9450 USD
Common Buy Transaction 1,200 4.9479 USD
Common Buy Transaction 100 4.9500 USD
Common Buy Transaction 698 4.9515 USD
Common Buy Transaction 435 4.9523 USD
Common Buy Transaction 400 4.9525 USD
Common Buy Transaction 1,185 4.9568 USD
Common Buy Transaction 27 4.9600 USD
Common Buy Transaction 413 4.9604 USD
Common Buy Transaction 2,866 4.9613 USD
Common Buy Transaction 1,496 4.9616 USD
Common Buy Transaction 3,203 4.9646 USD
Common Buy Transaction 2,284 4.9652 USD
Common Buy Transaction 262 4.9671 USD
Common Buy Transaction 4,834 4.9671 USD
Common Buy Transaction 1,675 4.9674 USD
Common Buy Transaction 6,043 4.9674 USD
Common Buy Transaction 59 4.9678 USD
Common Buy Transaction 2,057 4.9700 USD
Common Buy Transaction 599 4.9701 USD
Common Buy Transaction 583 4.9708 USD
Common Buy Transaction 3,098 4.9716 USD
Common Buy Transaction 3,841 4.9725 USD
Common Buy Transaction 4,129 4.9726 USD
Common Buy Transaction 1,554 4.9760 USD
Common Buy Transaction 9 4.9800 USD
Common Buy Transaction 600 4.9867 USD
Common Buy Transaction 715 4.9867 USD
Common Buy Transaction 1,083 4.9880 USD
Common Buy Transaction 1,220 4.9951 USD
Common Buy Transaction 1,732 4.9960 USD
Common Buy Transaction 392 4.9989 USD
Common Buy Transaction 24,326 5.0000 USD
Common Buy Transaction 50 5.0100 USD
Common Buy Transaction 2,280 5.0117 USD
Common Buy Transaction 3,300 5.0170 USD
Common Buy Transaction 1,609 5.0192 USD
Common Buy Transaction 1,016 5.0220 USD
Common Buy Transaction 4,423 5.0245 USD
Common Buy Transaction 563 5.0274 USD
Common Buy Transaction 401 5.0292 USD
Common Buy Transaction 3,488 5.0304 USD
Common Buy Transaction 2,700 5.0322 USD
Common Buy Transaction 378 5.0381 USD
Common Buy Transaction 1,210 5.0405 USD
Common Buy Transaction 3,720 5.0465 USD
Common Buy Transaction 600 5.0483 USD
Common Buy Transaction 112 5.0500 USD
Common Buy Transaction 4,481 5.0533 USD
Common Buy Transaction 300 5.0533 USD
Common Buy Transaction 1,172 5.0563 USD
Common Buy Transaction 713 5.0571 USD
Common Buy Transaction 891 5.0575 USD
Common Buy Transaction 519 5.0674 USD
Common Buy Transaction 238 5.0720 USD
Common Buy Transaction 2,500 5.0730 USD
Common Buy Transaction 206 5.0738 USD
Common Buy Transaction 412 5.0760 USD
Common Buy Transaction 745 5.0806 USD
Common Buy Transaction 1,925 5.0808 USD
Common Buy Transaction 1,015 5.0811 USD
Common Buy Transaction 200 5.0850 USD
Common Buy Transaction 30 5.0867 USD
Common Buy Transaction 20 5.0900 USD
Common Buy Transaction 17 5.0951 USD
Common Buy Transaction 3,958 5.0998 USD
Common Buy Transaction 1,000 5.1000 USD
Common Buy Transaction 38 5.1007 USD
Common Buy Transaction 2,572 5.1012 USD
Common Buy Transaction 519 5.1017 USD
Common Buy Transaction 848 5.1017 USD
Common Buy Transaction 300 5.1067 USD
Common Buy Transaction 18 5.1100 USD
Common Buy Transaction 585 5.1112 USD
Common Buy Transaction 2 5.1125 USD
Common Buy Transaction 545 5.1137 USD
Common Buy Transaction 100 5.1150 USD
Common Buy Transaction 5,455 5.1153 USD
Common Buy Transaction 6,559 5.1174 USD
Common Buy Transaction 656 5.1200 USD
Common Buy Transaction 1,257 5.1207 USD
Common Buy Transaction 634 5.1226 USD
Common Buy Transaction 617 5.1236 USD
Common Buy Transaction 5,251 5.1298 USD
Common Buy Transaction 465 5.1300 USD
Common Buy Transaction 103 5.1326 USD
Common Buy Transaction 110 5.1327 USD
Common Buy Transaction 1,105 5.1332 USD
Common Buy Transaction 300 5.1350 USD
Common Buy Transaction 410 5.1388 USD
Common Buy Transaction 526 5.1400 USD
Common Buy Transaction 8 5.1425 USD
Common Buy Transaction 365 5.1445 USD
Common Buy Transaction 118 5.1454 USD
Common Buy Transaction 1,443 5.1534 USD
Common Buy Transaction 686 5.1551 USD
Common Buy Transaction 100 5.1564 USD
Common Buy Transaction 10 5.1600 USD
Common Buy Transaction 2,006 5.1611 USD
Common Buy Transaction 1,082 5.1622 USD
Common Buy Transaction 1,404 5.1648 USD
Common Buy Transaction 100 5.1650 USD
Common Buy Transaction 124 5.1655 USD
Common Buy Transaction 410 5.1678 USD
Common Buy Transaction 183 5.1683 USD
Common Buy Transaction 1,029 5.1720 USD
Common Buy Transaction 220 5.1800 USD
Common Buy Transaction 591 5.1806 USD
Common Buy Transaction 100 5.1850 USD
Common Buy Transaction 400 5.1887 USD
Common Buy Transaction 420 5.1900 USD
Common Buy Transaction 3,939 5.1909 USD
Common Buy Transaction 5,500 5.2018 USD
Common Buy Transaction 10 5.2100 USD
Common Buy Transaction 200 5.2150 USD
Common Buy Transaction 600 5.2200 USD
Common Buy Transaction 100 5.2300 USD
Common Buy Transaction 40 5.2313 USD
Common Buy Transaction 100 5.2600 USD
Common Buy Transaction 109 5.2609 USD
Common Buy Transaction 79 5.2614 USD
Common Buy Transaction 248 5.2700 USD
Common DVP Transaction 7,944 5.0000 USD
Common DVP Transaction 40 5.0053 USD
Common DVP Transaction 1,000 5.0300 USD
Common DVP Transaction 40 5.1250 USD
Common DVP Transaction 2 5.1600 USD
Common DVP Transaction 1 5.1700 USD
Common DVP Transaction 1 5.1900 USD
Common DVP Transaction 322 5.2100 USD
Common DVP Transaction 1 5.2900 USD
Common RVP Transaction 7,983 5.0000 USD
Common RVP Transaction 1,000 5.0300 USD
Common RVP Transaction 40 5.1250 USD
Common RVP Transaction 1 5.1600 USD
Common RVP Transaction 2 5.1650 USD
Common RVP Transaction 1 5.1900 USD
Common RVP Transaction 323 5.2100 USD
Common RVP Transaction 1 5.2900 USD
Common Sell Transaction 2,513 4.9008 USD
Common Sell Transaction 200 4.9400 USD
Common Sell Transaction 500 4.9450 USD
Common Sell Transaction 4,600 4.9450 USD
Common Sell Transaction 804 4.9463 USD
Common Sell Transaction 573 4.9477 USD
Common Sell Transaction 400 4.9499 USD
Common Sell Transaction 400 4.9500 USD
Common Sell Transaction 424 4.9503 USD
Common Sell Transaction 975 4.9531 USD
Common Sell Transaction 253 4.9535 USD
Common Sell Transaction 2,200 4.9573 USD
Common Sell Transaction 2,700 4.9600 USD
Common Sell Transaction 200 4.9650 USD
Common Sell Transaction 1,133 4.9661 USD
Common Sell Transaction 1,300 4.9685 USD
Common Sell Transaction 1,400 4.9690 USD
Common Sell Transaction 12,131 4.9700 USD
Common Sell Transaction 6,343 4.9791 USD
Common Sell Transaction 1,506 4.9800 USD
Common Sell Transaction 656 4.9815 USD
Common Sell Transaction 300 4.9833 USD
Common Sell Transaction 14 4.9857 USD
Common Sell Transaction 500 4.9870 USD
Common Sell Transaction 2,000 4.9880 USD
Common Sell Transaction 689 4.9884 USD
Common Sell Transaction 7,344 4.9892 USD
Common Sell Transaction 501 4.9900 USD
Common Sell Transaction 125 4.9920 USD
Common Sell Transaction 104 4.9931 USD
Common Sell Transaction 200 4.9950 USD
Common Sell Transaction 4,000 4.9958 USD
Common Sell Transaction 700 4.9971 USD
Common Sell Transaction 559 4.9987 USD
Common Sell Transaction 1,700 4.9994 USD
Common Sell Transaction 20,341 5.0000 USD
Common Sell Transaction 2 5.0011 USD
Common Sell Transaction 2,549 5.0095 USD
Common Sell Transaction 450 5.0100 USD
Common Sell Transaction 247 5.0102 USD
Common Sell Transaction 196 5.0231 USD
Common Sell Transaction 10 5.0260 USD
Common Sell Transaction 4,325 5.0293 USD
Common Sell Transaction 79 5.0300 USD
Common Sell Transaction 194 5.0317 USD
Common Sell Transaction 9,143 5.0343 USD
Common Sell Transaction 286 5.0371 USD
Common Sell Transaction 1,347 5.0378 USD
Common Sell Transaction 1 5.0400 USD
Common Sell Transaction 129 5.0403 USD
Common Sell Transaction 1,876 5.0427 USD
Common Sell Transaction 96 5.0442 USD
Common Sell Transaction 900 5.0467 USD
Common Sell Transaction 1,150 5.0474 USD
Common Sell Transaction 33 5.0491 USD
Common Sell Transaction 0 5.0492 USD
Common Sell Transaction 14 5.0500 USD
Common Sell Transaction 300 5.0533 USD
Common Sell Transaction 742 5.0565 USD
Common Sell Transaction 994 5.0592 USD
Common Sell Transaction 136 5.0600 USD
Common Sell Transaction 306 5.0610 USD
Common Sell Transaction 618 5.0612 USD
Common Sell Transaction 867 5.0616 USD
Common Sell Transaction 100 5.0700 USD
Common Sell Transaction 23,045 5.0723 USD
Common Sell Transaction 690 5.0761 USD
Common Sell Transaction 1 5.0800 USD
Common Sell Transaction 497 5.0838 USD
Common Sell Transaction 640 5.0872 USD
Common Sell Transaction 220 5.0900 USD
Common Sell Transaction 240 5.0922 USD
Common Sell Transaction 300 5.0967 USD
Common Sell Transaction 963 5.0976 USD
Common Sell Transaction 634 5.0982 USD
Common Sell Transaction 1,621 5.0998 USD
Common Sell Transaction 4,857 5.0999 USD
Common Sell Transaction 612 5.1000 USD
Common Sell Transaction 19 5.1007 USD
Common Sell Transaction 37 5.1100 USD
Common Sell Transaction 1,100 5.1145 USD
Common Sell Transaction 136 5.1150 USD
Common Sell Transaction 241 5.1194 USD
Common Sell Transaction 2,001 5.1200 USD
Common Sell Transaction 127 5.1239 USD
Common Sell Transaction 5 5.1300 USD
Common Sell Transaction 389 5.1391 USD
Common Sell Transaction 19 5.1468 USD
Common Sell Transaction 575 5.1500 USD
Common Sell Transaction 4,669 5.1578 USD
Common Sell Transaction 75 5.1595 USD
Common Sell Transaction 500 5.1600 USD
Common Sell Transaction 2,448 5.1694 USD
Common Sell Transaction 100 5.1700 USD
Common Sell Transaction 227 5.1800 USD
Common Sell Transaction 393 5.1847 USD
Common Sell Transaction 40 5.1850 USD
Common Sell Transaction 298 5.1874 USD
Common Sell Transaction 108 5.1900 USD
Common Sell Transaction 686 5.1946 USD
Common Sell Transaction 100 5.2000 USD
Common Sell Transaction 55 5.2022 USD
Common Sell Transaction 1,749 5.2028 USD
Common Sell Transaction 100 5.2091 USD
Common Sell Transaction 3,199 5.2099 USD
Common Sell Transaction 113 5.2100 USD
Common Sell Transaction 800 5.2133 USD
Common Sell Transaction 144 5.2200 USD
Common Sell Transaction 336 5.2232 USD
Common Sell Transaction 182 5.2233 USD
Common Sell Transaction 208 5.2300 USD
Common Sell Transaction 47 5.2321 USD
Common Sell Transaction 89 5.2346 USD
Common Sell Transaction 202 5.2400 USD
Common Sell Transaction 19 5.2500 USD
Common Sell Transaction 400 5.2595 USD
Common Sell Transaction 359 5.2674 USD
Common Sell Transaction 650 5.2758 USD
Common Sell Transaction 1,439 5.2800 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 Call Option Sell Transaction 12 5.0000 USD American 2025-Mar-21 0.2500 USD

(ii)        Exercise

Class of relevant security Product description

e.g. call option
Exercising/ exercised against Number of securities Exercise price per unit
Common Put Option Exercised against 2 7.0000 USD

(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: 28 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 2,300 7.0 USD American 20/06/2025
Common Put Option Purchased -3,800 4.0 USD American 17/04/2025
Common Put Option Purchased -800 5.0 USD American 20/06/2025
Common Put Option Purchased -4,000 4.0 USD American 20/06/2025
Common Put Option Purchased -8,400 5.0 USD American 16/01/2026
Common Put Option Purchased -100,000 7.0 USD American 20/06/2025
Common Call Option Purchased 1,500 6.0 USD American 17/04/2025
Common Put Option Purchased -4,000 3.0 USD American 16/01/2026
Common Call Option Purchased 300 8.0 USD American 20/06/2025
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 Put Option Purchased -5,400 4.0 USD American 18/07/2025
Common Put Option Purchased -200 5.0 USD American 18/07/2025
Common Put Option Purchased -104,200 6.0 USD American 20/06/2025
Common Call Option Purchased 600 10.0 USD American 17/04/2025
Common Call Option Purchased 700 10.0 USD American 18/07/2025
Common Put Option Purchased -800 7.0 USD American 18/07/2025
Common Put Option Purchased -100 8.0 USD American 21/03/2025
Common Put Option Purchased -5,800 5.0 USD American 21/03/2025
Common Call Option Purchased 246,200 6.0 USD American 18/07/2025
Common Call Option Purchased 100 4.0 USD American 21/03/2025
Common Put Option Sold 99,900 8.0 USD American 20/06/2025
Common Call Option Sold -1,300 6.0 USD American 20/06/2025
Common Call Option Sold -116,600 7.0 USD American 16/01/2026
Common Put Option Sold 75,400 7.0 USD American 16/01/2026
Common Call Option Sold -200 7.0 USD American 18/07/2025
Common Call Option Sold -13,900 5.0 USD American 17/04/2025
Common Put Option Sold 7,600 6.0 USD American 17/04/2025
Common Call Option Sold -400 4.0 USD American 20/06/2025
Common Call Option Sold -1,600 5.0 USD American 20/06/2025
Common Call Option Sold -500 10.0 USD American 17/07/2026
Common Put Option Sold 9,200 5.0 USD American 17/04/2025
Common Call Option Sold -14,000 6.0 USD American 21/03/2025
Common Put Option Sold 900 6.0 USD American 18/07/2025
Common Call Option Sold -100 15.0 USD American 16/01/2026
Common Call Option Sold -800 12.0 USD American 16/01/2026
Common Call Option Sold -100,700 5.0 USD American 18/07/2025
Common Put Option Sold 100 4.0 USD American 21/03/2025
Common Call Option Sold -1,900 9.0 USD American 17/04/2025
Common Call Option Sold -12,700 7.0 USD American 17/04/2025
Common Call Option Sold -2,500 4.0 USD American 17/07/2026
Common Call Option Sold -500 4.0 USD American 16/01/2026
Common Call Option Sold -31,700 5.0 USD American 17/07/2026
Common Call Option Sold -7,700 7.0 USD American 21/03/2025
Common Call Option Sold -2,700 4.0 USD American 17/04/2025
Common Call Option Sold -8,600 8.0 USD American 17/04/2025
Common Call Option Sold -500 3.0 USD American 17/07/2026
Common Call Option Sold -29,400 8.0 USD American 18/07/2025
Common Call Option Sold -1,000 3.0 USD American 16/01/2026
Common Call Option Sold -200 5.0 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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END

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