Form 8.5 EPT/Non RI DOWLAIS GROUP PLC

RNS Number : 3454Q

Barclays PLC

26 January 2026

FORM 8.5 (EPT/NON-RI)
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN
EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS
(OR WHERE RI STATUS IS NOT APPLICABLE)
Rule 8.5 of the Takeover Code (the "Code")
1.				KEY INFORMATION
(a)	Name of exempt principal trader:				BARCLAYS CAPITAL SECURITIES LTD
(b)	Name of offeror/offeree in relation to whose				DOWLAIS GROUP PLC
	relevant securities this form relates:
(c)	Name of the party to the offer with which exempt				DOWLAIS GROUP PLC
	principal trader is connected
(d)	Date position held/dealing undertaken:				23 Jan 2026
(e)	In addition to the company in 1(b) above, is the exempt principal				YES:
	trader making disclosures in respect of any other party to the offer?				AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
2.				POSITIONS OF THE EXEMPT PRINCIPAL TRADER
(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:				1p ordinary
				Interests		Short Positions
				Number	(%)	Number	(%)
(1)	Relevant securities owned
	and/or controlled:			36,005,224	2.73%	1,566,123	0.12%
(2)	Cash-settled derivatives:
	and/or controlled:			390,733	0.03%	35,556,110	2.70%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:			0	0.00%	0	0.00%

	TOTAL:			36,395,957	2.76%	37,122,233	2.82%
(b)	Rights to subscribe for new securities (including directors and other executive
	options)
Class of relevant security in relation to
which subscription right exists
Details, including nature of the rights
concerned and relevant percentages:
3.				DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER
(a)	Purchases and sales
Class of relevant		Purchase/sale		Total number of		Highest price per unit	Lowest price per unit
security				securities		paid/received	paid/received
1p ordinary		Purchase		2,831,361		0.9655 GBP	0.9495 GBP
1p ordinary		Sale		2,268,848		0.9655 GBP	0.9495 GBP

(b)	Cash-settled derivative transactions
Class of		Product		Nature of dealing		Number of	Price per
relevant		description				reference	unit
security						securities
1p ordinary		SWAP		Decreasing Short		48,076	0.9532 GBP
1p ordinary		SWAP		Decreasing Short		37,858	0.9551 GBP
1p ordinary		SWAP		Decreasing Short		16,567	0.9552 GBP
1p ordinary		SWAP		Decreasing Short		7,052	0.9554 GBP
1p ordinary		SWAP		Decreasing Short		6,396	0.9555 GBP
1p ordinary		SWAP		Decreasing Short		33,579	0.9556 GBP
1p ordinary		SWAP		Decreasing Short		3,786	0.9577 GBP
1p ordinary		SWAP		Decreasing Short		2,577	0.9590 GBP
1p ordinary		SWAP		Decreasing Short		259,953	0.9700 GBP
1p ordinary		SWAP		Increasing Short		160,227	0.9515 GBP
1p ordinary		SWAP		Increasing Short		56,790	0.9535 GBP
1p ordinary		SWAP		Increasing Short		41,951	0.9538 GBP
1p ordinary		SWAP		Increasing Short		4,136	0.9546 GBP
1p ordinary		SWAP		Increasing Short		21,348	0.9550 GBP
1p ordinary		SWAP		Increasing Short		31,614	0.9554 GBP
1p ordinary		SWAP		Increasing Short		156,304	0.9555 GBP
1p ordinary		SWAP		Increasing Short		9,269	0.9560 GBP
1p ordinary		SWAP		Increasing Short		13,173	0.9562 GBP
1p ordinary		SWAP		Increasing Short		12,372	0.9564 GBP
1p ordinary		SWAP		Increasing Short		38,947	0.9565 GBP
1p ordinary		SWAP		Increasing Short		13,793	0.9594 GBP
1p ordinary		SWAP		Increasing Short		3	0.9600 GBP
1p ordinary		SWAP		Increasing Short		259,953	0.9725 GBP
1p ordinary		CFD		Decreasing Short		4,573	0.9554 GBP
1p ordinary		CFD		Decreasing Short		142,254	0.9555 GBP
1p ordinary		CFD		Decreasing Short		5,062	0.9596 GBP
1p ordinary		CFD		Increasing Short		142,254	0.9555 GBP
1p ordinary		CFD		Increasing Short		14,611	0.9559 GBP
1p ordinary		CFD		Increasing Short		80,098	0.9611 GBP

(c)	Stock-settled derivative transactions (including options)
(i)	Writing, selling, purchasing or varying
Class	Product	Writing,	Number	Exercise	Type	Expiry	Option
of	description	purchasing,	of	price		date	money
relevant		selling,	securities	per unit			paid/
security		varying etc	to which				received
			option				per unit
			relates


(ii)	Exercising
Class of relevant		Product description		Exercising/ exercised against		Number of	Exercise price per
security						securities	unit


(d)	Other dealings (including subscribing for new securities)
Class of relevant		Nature of Dealings		Details		Price per unit (if
security						applicable)

4.				OTHER INFORMATION
(a)	Indemnity and other dealings 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 exempt principal trader making the disclosure and any party
to the offer or any person acting in concert with a party to the offer:
NONE
(b)	Agreements, arrangements or understandings relating to options or derivatives
Details of any agreement, arrangement or understanding, formal or informal, between
the exempt principal trader 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 of future acquisition or disposal of any relevant securities to which
any derivative is referenced:
NONE
(c)	Attachments
Is a Supplemental Form 8 (Open Positions) attached?				NO
Date of disclosure:				26 Jan 2026
Contact name:				Large Holdings Regulatory Operations
Telephone number:				020 3134 7213

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END

FEOEAPFKALEKEEA

TIDM	BARC
Share Price	494.70p0.39%
Market Cap	£66.57bn

Date	26 Jan 2026
Time	08:54:20
Category	Holding(s) in company
ID	3454Q

TIDM	BARC
Share Price	494.70p0.39%
Market Cap	£66.57bn

Date	26 Jan 2026
Time	08:54:20
Category	Holding(s) in company
ID	3454Q

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Form 8.5 EPT/Non RI DOWLAIS GROUP PLC