Citadel Group

Major Shareholding Notification • Sep 18, 2025

National Storage Mechanism | Additional information

RNS Number : 8949Z

Citadel Group

18 September 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	17 September 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:	1,072,511	0.90	102,086	0.08
(2) Cash-settled derivatives:	0	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	420,900	0.35	994,300	0.83
TOTAL:	1,493,411	1.25	1,096,386	0.92

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	5	6.2300 USD
Common	Buy Transaction	1	6.2373 USD
Common	Buy Transaction	26	6.2415 USD
Common	Buy Transaction	20	6.2425 USD
Common	Buy Transaction	276	6.2450 USD
Common	Buy Transaction	1,760	6.2500 USD
Common	Buy Transaction	1	6.2537 USD
Common	Buy Transaction	300	6.2550 USD
Common	Buy Transaction	131	6.2550 USD
Common	Buy Transaction	5,984	6.2551 USD
Common	Buy Transaction	3,057	6.2571 USD
Common	Buy Transaction	18,170	6.2600 USD
Common	Buy Transaction	59	6.2603 USD
Common	Buy Transaction	250	6.2650 USD
Common	Buy Transaction	16	6.2687 USD
Common	Buy Transaction	1	6.2740 USD
Common	Buy Transaction	5	6.2760 USD
Common	Buy Transaction	213	6.2768 USD
Common	Buy Transaction	2,700	6.2780 USD
Common	Buy Transaction	1,392	6.2788 USD
Common	Buy Transaction	1,050	6.2800 USD
Common	Buy Transaction	825	6.2804 USD
Common	Buy Transaction	267	6.2831 USD
Common	Buy Transaction	110	6.2835 USD
Common	Buy Transaction	1,621	6.2836 USD
Common	Buy Transaction	68	6.2857 USD
Common	Buy Transaction	207	6.2882 USD
Common	Buy Transaction	4	6.2900 USD
Common	Buy Transaction	37	6.2908 USD
Common	Buy Transaction	700	6.2909 USD
Common	Buy Transaction	333	6.2911 USD
Common	Buy Transaction	1,594	6.2930 USD
Common	Buy Transaction	1,600	6.2931 USD
Common	Buy Transaction	1,054	6.2940 USD
Common	Buy Transaction	118	6.2950 USD
Common	Buy Transaction	368	6.3000 USD
Common	Buy Transaction	2,944	6.3004 USD
Common	Buy Transaction	45	6.3040 USD
Common	Buy Transaction	45	6.3050 USD
Common	Buy Transaction	1,110	6.3053 USD
Common	Buy Transaction	353	6.3057 USD
Common	Buy Transaction	3,033	6.3075 USD
Common	Buy Transaction	228	6.3084 USD
Common	Buy Transaction	2,836	6.3098 USD
Common	Buy Transaction	2,000	6.3100 USD
Common	Buy Transaction	8,384	6.3111 USD
Common	Buy Transaction	1,229	6.3125 USD
Common	Buy Transaction	1,062	6.3130 USD
Common	Buy Transaction	290	6.3162 USD
Common	Buy Transaction	340	6.3187 USD
Common	Buy Transaction	124	6.3190 USD
Common	Buy Transaction	2,719	6.3207 USD
Common	Buy Transaction	9,728	6.3221 USD
Common	Buy Transaction	618	6.3227 USD
Common	Buy Transaction	280	6.3241 USD
Common	Buy Transaction	2,400	6.3246 USD
Common	Buy Transaction	168	6.3260 USD
Common	Buy Transaction	19,495	6.3297 USD
Common	Buy Transaction	3,256	6.3308 USD
Common	Buy Transaction	116	6.3347 USD
Common	Buy Transaction	8,328	6.3352 USD
Common	Buy Transaction	1,855	6.3354 USD
Common	Buy Transaction	7,613	6.3359 USD
Common	Buy Transaction	20,896	6.3362 USD
Common	Buy Transaction	2,626	6.3366 USD
Common	Buy Transaction	2,457	6.3371 USD
Common	Buy Transaction	264	6.3373 USD
Common	Buy Transaction	749	6.3390 USD
Common	Buy Transaction	8,015	6.3431 USD
Common	Buy Transaction	5,000	6.3450 USD
Common	Buy Transaction	6,152	6.3462 USD
Common	Buy Transaction	406	6.3487 USD
Common	Buy Transaction	1,476	6.3503 USD
Common	Buy Transaction	296	6.3503 USD
Common	Buy Transaction	1,421	6.3505 USD
Common	Buy Transaction	17,511	6.3507 USD
Common	Buy Transaction	3,121	6.3518 USD
Common	Buy Transaction	2,025	6.3518 USD
Common	Buy Transaction	38	6.3526 USD
Common	Buy Transaction	312	6.3541 USD
Common	Buy Transaction	3,863	6.3562 USD
Common	Buy Transaction	8,660	6.3567 USD
Common	Buy Transaction	1,721	6.3600 USD
Common	Buy Transaction	784	6.3688 USD
Common	Buy Transaction	1,409	6.3723 USD
Common	Buy Transaction	7	6.3729 USD
Common	Buy Transaction	155	6.3750 USD
Common	Buy Transaction	500	6.3760 USD
Common	Buy Transaction	2,935	6.3800 USD
Common	Buy Transaction	7,356	6.3803 USD
Common	Buy Transaction	100	6.3811 USD
Common	Buy Transaction	961	6.3816 USD
Common	Buy Transaction	329	6.3818 USD
Common	Buy Transaction	165,091	6.3828 USD
Common	Buy Transaction	6,226	6.3829 USD
Common	Buy Transaction	87	6.3872 USD
Common	Buy Transaction	647	6.3873 USD
Common	Buy Transaction	492	6.3909 USD
Common	Buy Transaction	3,742	6.3936 USD
Common	Buy Transaction	200	6.3950 USD
Common	Buy Transaction	501	6.4000 USD
Common	Buy Transaction	3,182	6.4017 USD
Common	Buy Transaction	452	6.4058 USD
Common	Buy Transaction	1,149	6.4061 USD
Common	Buy Transaction	325	6.4074 USD
Common	Buy Transaction	100	6.4100 USD
Common	Buy Transaction	1,628	6.4160 USD
Common	Buy Transaction	2	6.4250 USD
Common	Buy Transaction	1,000	6.4350 USD
Common	Buy Transaction	201	6.4400 USD
Common	Buy Transaction	300	6.4567 USD
Common	Buy Transaction	3,000	6.4600 USD
Common	Buy Transaction	771	6.4606 USD
Common	Buy Transaction	157	6.4674 USD
Common	Buy Transaction	2	6.4800 USD
Common	Buy Transaction	580	6.4929 USD
Common	Buy Transaction	460	6.4950 USD
Common	Buy Transaction	6	6.5000 USD
Common	Buy Transaction	5,000	6.5050 USD
Common	Sell Transaction	35	6.1851 USD
Common	Sell Transaction	100	6.2100 USD
Common	Sell Transaction	707	6.2150 USD
Common	Sell Transaction	1,179	6.2160 USD
Common	Sell Transaction	400	6.2175 USD
Common	Sell Transaction	475	6.2200 USD
Common	Sell Transaction	855	6.2215 USD
Common	Sell Transaction	870	6.2224 USD
Common	Sell Transaction	679	6.2248 USD
Common	Sell Transaction	240	6.2299 USD
Common	Sell Transaction	23	6.2400 USD
Common	Sell Transaction	1,100	6.2500 USD
Common	Sell Transaction	4,958	6.2550 USD
Common	Sell Transaction	600	6.2583 USD
Common	Sell Transaction	49,870	6.2600 USD
Common	Sell Transaction	4,003	6.2616 USD
Common	Sell Transaction	190	6.2642 USD
Common	Sell Transaction	1,321	6.2700 USD
Common	Sell Transaction	4,086	6.2709 USD
Common	Sell Transaction	100	6.2742 USD
Common	Sell Transaction	100	6.2750 USD
Common	Sell Transaction	1,253	6.2762 USD
Common	Sell Transaction	218	6.2778 USD
Common	Sell Transaction	20	6.2785 USD
Common	Sell Transaction	3,608	6.2800 USD
Common	Sell Transaction	172	6.2819 USD
Common	Sell Transaction	10,000	6.2850 USD
Common	Sell Transaction	7	6.2857 USD
Common	Sell Transaction	1,100	6.2859 USD
Common	Sell Transaction	912	6.2900 USD
Common	Sell Transaction	3,800	6.2905 USD
Common	Sell Transaction	1,540	6.2909 USD
Common	Sell Transaction	300	6.2917 USD
Common	Sell Transaction	782	6.2923 USD
Common	Sell Transaction	973	6.2946 USD
Common	Sell Transaction	520	6.2954 USD
Common	Sell Transaction	878	6.2984 USD
Common	Sell Transaction	346	6.2986 USD
Common	Sell Transaction	1,086	6.2994 USD
Common	Sell Transaction	951	6.3000 USD
Common	Sell Transaction	1,900	6.3005 USD
Common	Sell Transaction	1,851	6.3032 USD
Common	Sell Transaction	1,400	6.3043 USD
Common	Sell Transaction	5,430	6.3062 USD
Common	Sell Transaction	952	6.3078 USD
Common	Sell Transaction	1,960	6.3080 USD
Common	Sell Transaction	1,296	6.3100 USD
Common	Sell Transaction	87	6.3102 USD
Common	Sell Transaction	2,917	6.3104 USD
Common	Sell Transaction	1,762	6.3136 USD
Common	Sell Transaction	8	6.3137 USD
Common	Sell Transaction	200	6.3150 USD
Common	Sell Transaction	278	6.3164 USD
Common	Sell Transaction	3,971	6.3174 USD
Common	Sell Transaction	1,149	6.3195 USD
Common	Sell Transaction	1	6.3200 USD
Common	Sell Transaction	1,662	6.3206 USD
Common	Sell Transaction	532	6.3206 USD
Common	Sell Transaction	2,382	6.3224 USD
Common	Sell Transaction	268	6.3254 USD
Common	Sell Transaction	3,250	6.3267 USD
Common	Sell Transaction	430	6.3268 USD
Common	Sell Transaction	210	6.3280 USD
Common	Sell Transaction	754	6.3283 USD
Common	Sell Transaction	1,070	6.3309 USD
Common	Sell Transaction	6	6.3317 USD
Common	Sell Transaction	1,776	6.3326 USD
Common	Sell Transaction	6,200	6.3356 USD
Common	Sell Transaction	2,032	6.3363 USD
Common	Sell Transaction	6,828	6.3370 USD
Common	Sell Transaction	490	6.3380 USD
Common	Sell Transaction	1,847	6.3388 USD
Common	Sell Transaction	0	6.3396 USD
Common	Sell Transaction	1,310	6.3468 USD
Common	Sell Transaction	69	6.3472 USD
Common	Sell Transaction	6,764	6.3477 USD
Common	Sell Transaction	2,833	6.3479 USD
Common	Sell Transaction	3,246	6.3485 USD
Common	Sell Transaction	720	6.3488 USD
Common	Sell Transaction	272	6.3491 USD
Common	Sell Transaction	564	6.3500 USD
Common	Sell Transaction	96	6.3510 USD
Common	Sell Transaction	308	6.3514 USD
Common	Sell Transaction	844	6.3514 USD
Common	Sell Transaction	3,707	6.3592 USD
Common	Sell Transaction	12,496	6.3612 USD
Common	Sell Transaction	2,228	6.3643 USD
Common	Sell Transaction	1,550	6.3672 USD
Common	Sell Transaction	5,544	6.3684 USD
Common	Sell Transaction	1,266	6.3686 USD
Common	Sell Transaction	10	6.3690 USD
Common	Sell Transaction	110	6.3700 USD
Common	Sell Transaction	105	6.3705 USD
Common	Sell Transaction	619	6.3764 USD
Common	Sell Transaction	461	6.3773 USD
Common	Sell Transaction	1,725	6.3787 USD
Common	Sell Transaction	1,746	6.3790 USD
Common	Sell Transaction	2,150	6.3800 USD
Common	Sell Transaction	2,234	6.3807 USD
Common	Sell Transaction	1,134	6.3810 USD
Common	Sell Transaction	10,200	6.3820 USD
Common	Sell Transaction	165,091	6.3828 USD
Common	Sell Transaction	20,090	6.3865 USD
Common	Sell Transaction	100	6.3884 USD
Common	Sell Transaction	1,000	6.3890 USD
Common	Sell Transaction	8,500	6.3891 USD
Common	Sell Transaction	110	6.3891 USD
Common	Sell Transaction	2,315	6.3900 USD
Common	Sell Transaction	351	6.3914 USD
Common	Sell Transaction	2,600	6.3935 USD
Common	Sell Transaction	100	6.4000 USD
Common	Sell Transaction	200	6.4050 USD
Common	Sell Transaction	1,483	6.4055 USD
Common	Sell Transaction	5	6.4080 USD
Common	Sell Transaction	624	6.4132 USD
Common	Sell Transaction	808	6.4163 USD
Common	Sell Transaction	200	6.4250 USD
Common	Sell Transaction	262	6.4500 USD
Common	Sell Transaction	3,300	6.4548 USD
Common	Sell Transaction	136	6.4750 USD
Common	Sell Transaction	100	6.4900 USD
Common	Sell Transaction	3,815	6.4978 USD
Common	Sell Transaction	55	6.5000 USD
Common	Sell Transaction	2,132	6.5100 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	300	4.0000 USD	American	2026-01-16	0.0600 USD
Common	Call Option	Buy Transaction	300	10.0000 USD	American	2026-07-17	0.2500 USD
Common	Call Option	Buy Transaction	200	6.0000 USD	American	2025-09-19	0.3000 USD
Common	Call Option	Buy Transaction	1,000	10.0000 USD	American	2026-07-17	0.3600 USD
Common	Call Option	Buy Transaction	100	6.0000 USD	American	2025-09-19	0.4900 USD
Common	Call Option	Buy Transaction	500	7.0000 USD	American	2026-01-16	0.5500 USD
Common	Call Option	Buy Transaction	100	7.0000 USD	American	2026-04-17	0.8000 USD
Common	Call Option	Buy Transaction	1,500	6.0000 USD	American	2026-01-16	0.9000 USD
Common	Call Option	Buy Transaction	100	6.0000 USD	American	2026-01-16	0.9500 USD
Common	Call Option	Buy Transaction	100	6.0000 USD	American	2026-01-16	1.0000 USD
Common	Call Option	Buy Transaction	100	6.0000 USD	American	2026-01-16	1.0500 USD
Common	Call Option	Buy Transaction	200	6.0000 USD	American	2026-04-17	1.1300 USD
Common	Call Option	Buy Transaction	1,600	6.0000 USD	American	2026-04-17	1.1500 USD
Common	Call Option	Buy Transaction	300	6.0000 USD	American	2026-04-17	1.2500 USD
Common	Call Option	Buy Transaction	100	5.0000 USD	American	2026-01-16	1.6500 USD
Common	Call Option	Sell Transaction	2,100	7.0000 USD	American	2025-10-17	0.2000 USD
Common	Call Option	Sell Transaction	100	7.0000 USD	American	2025-10-17	0.2500 USD
Common	Call Option	Sell Transaction	200	6.0000 USD	American	2025-10-17	0.6000 USD
Common	Call Option	Sell Transaction	400	7.0000 USD	American	2026-04-17	0.7500 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:	18 September 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	10,100	7.0 USD	American	18/12/2026
Common	Put Option	Purchased	-216,000	4.0 USD	American	16/01/2026
Common	Call Option	Purchased	3,100	10.0 USD	American	16/01/2026
Common	Call Option	Purchased	1,500	5.0 USD	American	19/09/2025
Common	Put Option	Purchased	-10,800	5.0 USD	American	17/04/2026
Common	Call Option	Purchased	500	8.0 USD	American	16/01/2026
Common	Put Option	Purchased	-17,200	3.0 USD	American	16/01/2026
Common	Put Option	Purchased	-500	3.0 USD	American	18/12/2026
Common	Call Option	Purchased	169,700	5.0 USD	American	17/10/2025
Common	Put Option	Purchased	-8,200	6.0 USD	American	16/01/2026
Common	Call Option	Purchased	100	4.0 USD	American	19/09/2025
Common	Call Option	Purchased	15,700	4.0 USD	American	17/10/2025
Common	Call Option	Purchased	200	11.0 USD	American	17/04/2026
Common	Call Option	Purchased	800	10.0 USD	American	17/07/2026
Common	Call Option	Purchased	1,000	8.0 USD	American	17/10/2025
Common	Put Option	Purchased	-500	3.0 USD	American	17/04/2026
Common	Call Option	Purchased	46,500	6.0 USD	American	16/01/2026
Common	Call Option	Purchased	12,700	6.0 USD	American	17/04/2026
Common	Call Option	Purchased	5,700	6.0 USD	American	19/09/2025
Common	Call Option	Purchased	43,100	6.0 USD	American	17/10/2025
Common	Call Option	Purchased	2,600	5.0 USD	American	17/04/2026
Common	Put Option	Purchased	-800	7.0 USD	American	17/07/2026
Common	Put Option	Purchased	-1,000	7.0 USD	American	16/01/2026
Common	Call Option	Purchased	14,000	7.0 USD	American	17/10/2025
Common	Call Option	Purchased	300	3.0 USD	American	17/10/2025
Common	Call Option	Purchased	300	2.0 USD	American	17/10/2025
Common	Call Option	Purchased	100	9.0 USD	American	17/04/2026
Common	Put Option	Purchased	-1,200	5.0 USD	American	17/07/2026
Common	Call Option	Purchased	800	3.0 USD	American	17/07/2026
Common	Put Option	Purchased	-400	5.0 USD	American	19/09/2025
Common	Put Option	Sold	700	6.0 USD	American	19/09/2025
Common	Call Option	Sold	-508,700	7.0 USD	American	17/04/2026
Common	Put Option	Sold	89,700	5.0 USD	American	16/01/2026
Common	Call Option	Sold	-6,200	12.0 USD	American	16/01/2026
Common	Put Option	Sold	800	5.0 USD	American	17/10/2025
Common	Call Option	Sold	-1,000	7.0 USD	American	19/09/2025
Common	Call Option	Sold	-1,400	3.0 USD	American	16/01/2026
Common	Call Option	Sold	-1,400	4.0 USD	American	16/01/2026
Common	Call Option	Sold	-300	7.0 USD	American	17/07/2026
Common	Call Option	Sold	-111,200	7.0 USD	American	16/01/2026
Common	Call Option	Sold	-400	5.0 USD	American	18/12/2026
Common	Call Option	Sold	-12,500	15.0 USD	American	16/01/2026
Common	Call Option	Sold	-100	1.0 USD	American	17/07/2026
Common	Call Option	Sold	-39,400	5.0 USD	American	17/07/2026
Common	Put Option	Sold	300	6.0 USD	American	17/10/2025
Common	Put Option	Sold	600	3.0 USD	American	17/10/2025
Common	Call Option	Sold	-900	4.0 USD	American	17/07/2026
Common	Call Option	Sold	-54,200	5.0 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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END

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