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Citadel Group Major Shareholding Notification 2025
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Major Shareholding Notification
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National Storage Mechanism | Additional information 
RNS Number : 3285D
Citadel Group
02 April 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 |
1 April 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: | 827,073 | 0.69 | 268,042 | 0.22 |
| (2) Cash-settled derivatives: | 120,398 | 0.10 | 0 | 0.00 |
| (3) Stock-settled derivatives (including options) and agreements to purchase/sell: | 2,049,100 | 1.73 | 593,300 | 0.50 |
| TOTAL: | 2,996,571 | 2.53 | 861,342 | 0.72 |
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 | 13 | 3.8400 USD |
| Common | Buy Transaction | 455 | 3.8500 USD |
| Common | Buy Transaction | 100 | 3.8550 USD |
| Common | Buy Transaction | 409 | 3.8600 USD |
| Common | Buy Transaction | 30 | 3.8650 USD |
| Common | Buy Transaction | 1,243 | 3.8700 USD |
| Common | Buy Transaction | 236 | 3.8735 USD |
| Common | Buy Transaction | 460 | 3.8750 USD |
| Common | Buy Transaction | 2,984 | 3.8760 USD |
| Common | Buy Transaction | 1,034 | 3.8766 USD |
| Common | Buy Transaction | 924 | 3.8779 USD |
| Common | Buy Transaction | 33 | 3.8797 USD |
| Common | Buy Transaction | 3 | 3.8800 USD |
| Common | Buy Transaction | 2 | 3.8811 USD |
| Common | Buy Transaction | 930 | 3.8819 USD |
| Common | Buy Transaction | 821 | 3.8840 USD |
| Common | Buy Transaction | 45,930 | 3.8845 USD |
| Common | Buy Transaction | 522 | 3.8849 USD |
| Common | Buy Transaction | 100 | 3.8850 USD |
| Common | Buy Transaction | 2,442 | 3.8863 USD |
| Common | Buy Transaction | 346 | 3.8868 USD |
| Common | Buy Transaction | 1,128 | 3.8871 USD |
| Common | Buy Transaction | 90 | 3.8874 USD |
| Common | Buy Transaction | 701 | 3.8877 USD |
| Common | Buy Transaction | 1,793 | 3.8882 USD |
| Common | Buy Transaction | 107 | 3.8887 USD |
| Common | Buy Transaction | 1,200 | 3.8890 USD |
| Common | Buy Transaction | 207 | 3.8893 USD |
| Common | Buy Transaction | 214 | 3.8893 USD |
| Common | Buy Transaction | 6,133 | 3.8900 USD |
| Common | Buy Transaction | 1,887 | 3.8902 USD |
| Common | Buy Transaction | 584 | 3.8907 USD |
| Common | Buy Transaction | 1,000 | 3.8908 USD |
| Common | Buy Transaction | 88 | 3.8909 USD |
| Common | Buy Transaction | 137 | 3.8912 USD |
| Common | Buy Transaction | 1,710 | 3.8912 USD |
| Common | Buy Transaction | 543 | 3.8918 USD |
| Common | Buy Transaction | 1,916 | 3.8927 USD |
| Common | Buy Transaction | 5,493 | 3.8928 USD |
| Common | Buy Transaction | 9,068 | 3.8933 USD |
| Common | Buy Transaction | 814 | 3.8939 USD |
| Common | Buy Transaction | 248 | 3.8940 USD |
| Common | Buy Transaction | 1,203 | 3.8942 USD |
| Common | Buy Transaction | 38 | 3.8947 USD |
| Common | Buy Transaction | 2,009 | 3.8948 USD |
| Common | Buy Transaction | 424 | 3.8950 USD |
| Common | Buy Transaction | 782 | 3.8953 USD |
| Common | Buy Transaction | 1,133 | 3.8956 USD |
| Common | Buy Transaction | 3,381 | 3.8962 USD |
| Common | Buy Transaction | 455 | 3.8966 USD |
| Common | Buy Transaction | 11,462 | 3.8967 USD |
| Common | Buy Transaction | 3,990 | 3.8967 USD |
| Common | Buy Transaction | 301 | 3.8970 USD |
| Common | Buy Transaction | 34 | 3.8971 USD |
| Common | Buy Transaction | 1,322 | 3.8973 USD |
| Common | Buy Transaction | 530 | 3.8974 USD |
| Common | Buy Transaction | 309 | 3.8974 USD |
| Common | Buy Transaction | 271 | 3.8974 USD |
| Common | Buy Transaction | 651 | 3.8977 USD |
| Common | Buy Transaction | 864 | 3.8977 USD |
| Common | Buy Transaction | 260,723 | 3.8984 USD |
| Common | Buy Transaction | 5,234 | 3.9000 USD |
| Common | Buy Transaction | 458 | 3.9006 USD |
| Common | Buy Transaction | 35 | 3.9009 USD |
| Common | Buy Transaction | 8,437 | 3.9018 USD |
| Common | Buy Transaction | 1,177 | 3.9026 USD |
| Common | Buy Transaction | 9,500 | 3.9032 USD |
| Common | Buy Transaction | 307 | 3.9036 USD |
| Common | Buy Transaction | 1,126 | 3.9047 USD |
| Common | Buy Transaction | 300 | 3.9050 USD |
| Common | Buy Transaction | 524 | 3.9055 USD |
| Common | Buy Transaction | 595 | 3.9085 USD |
| Common | Buy Transaction | 169 | 3.9100 USD |
| Common | Buy Transaction | 126 | 3.9102 USD |
| Common | Buy Transaction | 333 | 3.9105 USD |
| Common | Buy Transaction | 27 | 3.9115 USD |
| Common | Buy Transaction | 1,301 | 3.9116 USD |
| Common | Buy Transaction | 142 | 3.9118 USD |
| Common | Buy Transaction | 230 | 3.9118 USD |
| Common | Buy Transaction | 214 | 3.9127 USD |
| Common | Buy Transaction | 335 | 3.9138 USD |
| Common | Buy Transaction | 32 | 3.9147 USD |
| Common | Buy Transaction | 200 | 3.9150 USD |
| Common | Buy Transaction | 541 | 3.9164 USD |
| Common | Buy Transaction | 232 | 3.9171 USD |
| Common | Buy Transaction | 1,032 | 3.9184 USD |
| Common | Buy Transaction | 34,748 | 3.9200 USD |
| Common | Buy Transaction | 17,454 | 3.9205 USD |
| Common | Buy Transaction | 1,300 | 3.9208 USD |
| Common | Buy Transaction | 6,025 | 3.9234 USD |
| Common | Buy Transaction | 260 | 3.9250 USD |
| Common | Buy Transaction | 1,111 | 3.9264 USD |
| Common | Buy Transaction | 1,139 | 3.9286 USD |
| Common | Buy Transaction | 2,314 | 3.9300 USD |
| Common | Buy Transaction | 100 | 3.9310 USD |
| Common | Buy Transaction | 130 | 3.9323 USD |
| Common | Buy Transaction | 273 | 3.9327 USD |
| Common | Buy Transaction | 13,800 | 3.9370 USD |
| Common | Buy Transaction | 588 | 3.9385 USD |
| Common | Buy Transaction | 4,717 | 3.9393 USD |
| Common | Buy Transaction | 1,022 | 3.9400 USD |
| Common | Buy Transaction | 984 | 3.9402 USD |
| Common | Buy Transaction | 1,203 | 3.9407 USD |
| Common | Buy Transaction | 265 | 3.9409 USD |
| Common | Buy Transaction | 201 | 3.9432 USD |
| Common | Buy Transaction | 1,000 | 3.9465 USD |
| Common | Buy Transaction | 761 | 3.9503 USD |
| Common | Buy Transaction | 15 | 3.9507 USD |
| Common | Buy Transaction | 800 | 3.9512 USD |
| Common | Buy Transaction | 1,172 | 3.9521 USD |
| Common | Buy Transaction | 302 | 3.9532 USD |
| Common | Buy Transaction | 1,003 | 3.9538 USD |
| Common | Buy Transaction | 38 | 3.9550 USD |
| Common | Buy Transaction | 471 | 3.9573 USD |
| Common | Buy Transaction | 1,239 | 3.9581 USD |
| Common | Buy Transaction | 900 | 3.9589 USD |
| Common | Buy Transaction | 929 | 3.9592 USD |
| Common | Buy Transaction | 834 | 3.9606 USD |
| Common | Buy Transaction | 145,002 | 3.9685 USD |
| Common | Buy Transaction | 200 | 3.9690 USD |
| Common | Buy Transaction | 851 | 3.9700 USD |
| Common | DVP Transaction | 67 | 3.8627 USD |
| Common | DVP Transaction | 2,380 | 3.8700 USD |
| Common | DVP Transaction | 694 | 3.9028 USD |
| Common | DVP Transaction | 188 | 3.9100 USD |
| Common | DVP Transaction | 12,080 | 3.9200 USD |
| Common | RVP Transaction | 2,380 | 3.8700 USD |
| Common | RVP Transaction | 744 | 3.8992 USD |
| Common | RVP Transaction | 17 | 3.9000 USD |
| Common | RVP Transaction | 188 | 3.9100 USD |
| Common | RVP Transaction | 12,080 | 3.9200 USD |
| Common | Sell Transaction | 356 | 3.8501 USD |
| Common | Sell Transaction | 64 | 3.8594 USD |
| Common | Sell Transaction | 0 | 3.8595 USD |
| Common | Sell Transaction | 1 | 3.8600 USD |
| Common | Sell Transaction | 1,126 | 3.8650 USD |
| Common | Sell Transaction | 1,501 | 3.8700 USD |
| Common | Sell Transaction | 130 | 3.8723 USD |
| Common | Sell Transaction | 447 | 3.8755 USD |
| Common | Sell Transaction | 271 | 3.8762 USD |
| Common | Sell Transaction | 321 | 3.8762 USD |
| Common | Sell Transaction | 300 | 3.8767 USD |
| Common | Sell Transaction | 4,832 | 3.8787 USD |
| Common | Sell Transaction | 201 | 3.8800 USD |
| Common | Sell Transaction | 2,004 | 3.8800 USD |
| Common | Sell Transaction | 63 | 3.8800 USD |
| Common | Sell Transaction | 13,413 | 3.8811 USD |
| Common | Sell Transaction | 6,676 | 3.8828 USD |
| Common | Sell Transaction | 208 | 3.8833 USD |
| Common | Sell Transaction | 13,406 | 3.8850 USD |
| Common | Sell Transaction | 2,752 | 3.8850 USD |
| Common | Sell Transaction | 308 | 3.8895 USD |
| Common | Sell Transaction | 1,961 | 3.8900 USD |
| Common | Sell Transaction | 1,967 | 3.8902 USD |
| Common | Sell Transaction | 1,522 | 3.8904 USD |
| Common | Sell Transaction | 4,206 | 3.8904 USD |
| Common | Sell Transaction | 840 | 3.8908 USD |
| Common | Sell Transaction | 47 | 3.8909 USD |
| Common | Sell Transaction | 3 | 3.8918 USD |
| Common | Sell Transaction | 5,000 | 3.8933 USD |
| Common | Sell Transaction | 251 | 3.8934 USD |
| Common | Sell Transaction | 17 | 3.8953 USD |
| Common | Sell Transaction | 1,935 | 3.8955 USD |
| Common | Sell Transaction | 234 | 3.8955 USD |
| Common | Sell Transaction | 679 | 3.8980 USD |
| Common | Sell Transaction | 26 | 3.8981 USD |
| Common | Sell Transaction | 68 | 3.8982 USD |
| Common | Sell Transaction | 91 | 3.8982 USD |
| Common | Sell Transaction | 2,081 | 3.8985 USD |
| Common | Sell Transaction | 1,425 | 3.8986 USD |
| Common | Sell Transaction | 2,602 | 3.8989 USD |
| Common | Sell Transaction | 608 | 3.8999 USD |
| Common | Sell Transaction | 3,281 | 3.9000 USD |
| Common | Sell Transaction | 622 | 3.9004 USD |
| Common | Sell Transaction | 1,400 | 3.9004 USD |
| Common | Sell Transaction | 464 | 3.9011 USD |
| Common | Sell Transaction | 9,492 | 3.9012 USD |
| Common | Sell Transaction | 88 | 3.9018 USD |
| Common | Sell Transaction | 180 | 3.9024 USD |
| Common | Sell Transaction | 1,700 | 3.9029 USD |
| Common | Sell Transaction | 1,156 | 3.9030 USD |
| Common | Sell Transaction | 36 | 3.9033 USD |
| Common | Sell Transaction | 1,966 | 3.9040 USD |
| Common | Sell Transaction | 1,187 | 3.9040 USD |
| Common | Sell Transaction | 2,237 | 3.9055 USD |
| Common | Sell Transaction | 281 | 3.9060 USD |
| Common | Sell Transaction | 789 | 3.9065 USD |
| Common | Sell Transaction | 71 | 3.9076 USD |
| Common | Sell Transaction | 16 | 3.9081 USD |
| Common | Sell Transaction | 25 | 3.9084 USD |
| Common | Sell Transaction | 34 | 3.9093 USD |
| Common | Sell Transaction | 313 | 3.9094 USD |
| Common | Sell Transaction | 2,508 | 3.9096 USD |
| Common | Sell Transaction | 446 | 3.9098 USD |
| Common | Sell Transaction | 757 | 3.9100 USD |
| Common | Sell Transaction | 1,324 | 3.9114 USD |
| Common | Sell Transaction | 440 | 3.9119 USD |
| Common | Sell Transaction | 142 | 3.9128 USD |
| Common | Sell Transaction | 664 | 3.9134 USD |
| Common | Sell Transaction | 700 | 3.9171 USD |
| Common | Sell Transaction | 1,169 | 3.9183 USD |
| Common | Sell Transaction | 13 | 3.9185 USD |
| Common | Sell Transaction | 1 | 3.9192 USD |
| Common | Sell Transaction | 594 | 3.9193 USD |
| Common | Sell Transaction | 76 | 3.9195 USD |
| Common | Sell Transaction | 24,912 | 3.9200 USD |
| Common | Sell Transaction | 526 | 3.9206 USD |
| Common | Sell Transaction | 5,562 | 3.9245 USD |
| Common | Sell Transaction | 500 | 3.9245 USD |
| Common | Sell Transaction | 3,125 | 3.9252 USD |
| Common | Sell Transaction | 192 | 3.9265 USD |
| Common | Sell Transaction | 1,900 | 3.9279 USD |
| Common | Sell Transaction | 35 | 3.9283 USD |
| Common | Sell Transaction | 800 | 3.9287 USD |
| Common | Sell Transaction | 2,497 | 3.9297 USD |
| Common | Sell Transaction | 3,045 | 3.9300 USD |
| Common | Sell Transaction | 1,123 | 3.9300 USD |
| Common | Sell Transaction | 1,500 | 3.9313 USD |
| Common | Sell Transaction | 6,804 | 3.9318 USD |
| Common | Sell Transaction | 4 | 3.9325 USD |
| Common | Sell Transaction | 352 | 3.9326 USD |
| Common | Sell Transaction | 1,000 | 3.9360 USD |
| Common | Sell Transaction | 217 | 3.9382 USD |
| Common | Sell Transaction | 300 | 3.9390 USD |
| Common | Sell Transaction | 1,971 | 3.9399 USD |
| Common | Sell Transaction | 11,473 | 3.9399 USD |
| Common | Sell Transaction | 2,998 | 3.9399 USD |
| Common | Sell Transaction | 2,854 | 3.9400 USD |
| Common | Sell Transaction | 3,599 | 3.9402 USD |
| Common | Sell Transaction | 495 | 3.9444 USD |
| Common | Sell Transaction | 300 | 3.9467 USD |
| Common | Sell Transaction | 1,531 | 3.9471 USD |
| Common | Sell Transaction | 203 | 3.9492 USD |
| Common | Sell Transaction | 234 | 3.9500 USD |
| Common | Sell Transaction | 8,707 | 3.9535 USD |
| Common | Sell Transaction | 307 | 3.9600 USD |
| Common | Sell Transaction | 15,100 | 3.9632 USD |
| Common | Sell Transaction | 588 | 3.9699 USD |
| Common | Sell Transaction | 808 | 3.9700 USD |
| Common | Sell Transaction | 8 | 3.9800 USD |
| Common | Sell Transaction | 129 | 3.9900 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 | 100 | 3.8800 USD |
| Common | CFD | Reducing long position | 68 | 3.8900 USD |
| Common | CFD | Reducing long position | 4,229 | 3.8955 USD |
| Common | CFD | Reducing long position | 785 | 3.9041 USD |
| Common | CFD | Reducing long position | 846 | 3.9125 USD |
| Common | CFD | Reducing long position | 600 | 3.9133 USD |
| Common | CFD | Reducing long position | 202 | 3.9145 USD |
| Common | CFD | Reducing long position | 160 | 3.9200 USD |
| Common | CFD | Reducing long position | 300 | 3.9283 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 | 1 | 4.0000 USD | American | 2025-Apr-17 | 0.1500 USD |
| Common | Put Option | Buy Transaction | 10 | 4.0000 USD | American | 2025-Apr-17 | 0.2000 USD |
| Common | Put Option | Buy Transaction | 70 | 3.0000 USD | American | 2026-Jan-16 | 0.3500 USD |
| Common | Call Option | Buy Transaction | 1 | 5.0000 USD | American | 2026-Jan-16 | 0.4400 USD |
| Common | Call Option | Buy Transaction | 60 | 4.0000 USD | American | 2025-Oct-17 | 0.5900 USD |
| Common | Put Option | Buy Transaction | 4 | 4.0000 USD | American | 2026-Jan-16 | 0.7000 USD |
| Common | Put Option | Sell Transaction | 1 | 4.0000 USD | American | 2025-Apr-17 | 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 | 6 | 6.0000 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: | 2 April 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 | -4,300 | 4.0 USD | American | 20/06/2025 |
| Common | Call Option | Purchased | 1,000,000 | 5.0 USD | American | 20/06/2025 |
| Common | Put Option | Purchased | -5,800 | 4.0 USD | American | 17/04/2025 |
| Common | Call Option | Purchased | 1,000 | 5.0 USD | American | 16/01/2026 |
| Common | Put Option | Purchased | -300 | 5.0 USD | American | 17/10/2025 |
| Common | Call Option | Purchased | 2,500 | 10.0 USD | American | 16/01/2026 |
| Common | Call Option | Purchased | 700 | 10.0 USD | American | 18/07/2025 |
| Common | Call Option | Purchased | 2,300 | 7.0 USD | American | 20/06/2025 |
| Common | Call Option | Purchased | 600 | 10.0 USD | American | 17/04/2025 |
| Common | Call Option | Purchased | 1,300 | 5.0 USD | American | 16/05/2025 |
| Common | Call Option | Purchased | 600,000 | 6.0 USD | American | 18/07/2025 |
| Common | Call Option | Purchased | 200 | 6.0 USD | American | 17/10/2025 |
| Common | Put Option | Purchased | -1,400 | 5.0 USD | American | 20/06/2025 |
| Common | Put Option | Purchased | -900 | 5.0 USD | American | 17/07/2026 |
| Common | Put Option | Purchased | -8,400 | 5.0 USD | American | 16/01/2026 |
| Common | Put Option | Purchased | -1,400 | 4.0 USD | American | 16/01/2026 |
| Common | Put Option | Purchased | -11,000 | 3.0 USD | American | 16/01/2026 |
| Common | Put Option | Purchased | -5,400 | 4.0 USD | American | 18/07/2025 |
| Common | Put Option | Purchased | -300 | 4.0 USD | American | 16/05/2025 |
| Common | Call Option | Purchased | 1,100 | 4.0 USD | American | 17/04/2025 |
| Common | Put Option | Purchased | -99,800 | 7.0 USD | American | 20/06/2025 |
| Common | Call Option | Purchased | 300 | 8.0 USD | American | 20/06/2025 |
| Common | Call Option | Purchased | 6,800 | 5.0 USD | American | 20/06/2025 |
| Common | Call Option | Purchased | 245,600 | 6.0 USD | American | 18/07/2025 |
| Common | Put Option | Purchased | -1,000 | 5.0 USD | American | 17/04/2025 |
| Common | Put Option | Purchased | -104,200 | 6.0 USD | American | 20/06/2025 |
| Common | Put Option | Purchased | -700 | 7.0 USD | American | 18/07/2025 |
| Common | Call Option | Purchased | 6,000 | 4.0 USD | American | 17/10/2025 |
| Common | Put Option | Sold | 99,900 | 8.0 USD | American | 20/06/2025 |
| Common | Call Option | Sold | -200 | 7.0 USD | American | 18/07/2025 |
| Common | Put Option | Sold | 5,100 | 6.0 USD | American | 17/04/2025 |
| Common | Call Option | Sold | -8,600 | 8.0 USD | American | 17/04/2025 |
| Common | Call Option | Sold | -800 | 12.0 USD | American | 16/01/2026 |
| Common | Call Option | Sold | -8,800 | 4.0 USD | American | 20/06/2025 |
| Common | Call Option | Sold | -2,000 | 6.0 USD | American | 20/06/2025 |
| Common | Call Option | Sold | -1,000 | 3.0 USD | American | 16/01/2026 |
| Common | Call Option | Sold | -29,400 | 8.0 USD | American | 18/07/2025 |
| Common | Call Option | Sold | -9,400 | 4.0 USD | American | 18/07/2025 |
| Common | Call Option | Sold | -12,700 | 7.0 USD | American | 17/04/2025 |
| Common | Put Option | Sold | 800 | 5.0 USD | American | 18/07/2025 |
| Common | Call Option | Sold | -1,700 | 6.0 USD | American | 17/04/2025 |
| Common | Call Option | Sold | -500 | 4.0 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 | Call Option | Sold | -500 | 3.0 USD | American | 17/07/2026 |
| Common | Call Option | Sold | -100,900 | 5.0 USD | American | 18/07/2025 |
| Common | Call Option | Sold | -2,500 | 4.0 USD | American | 17/07/2026 |
| Common | Call Option | Sold | -13,900 | 5.0 USD | American | 17/04/2025 |
| Common | Call Option | Sold | -118,300 | 7.0 USD | American | 16/01/2026 |
| Common | Call Option | Sold | -3,400 | 10.0 USD | American | 17/07/2026 |
| Common | Call Option | Sold | -200 | 15.0 USD | American | 16/01/2026 |
| Common | Call Option | Sold | -31,700 | 5.0 USD | American | 17/07/2026 |
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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