⌘K
t
Barclays Capital Securities Ltd disclosed its positions and dealings in Dowlais Group PLC 1p ordinary shares, relating to an offer involving Dowlais Group PLC and Dauch Corporation, as of 02 February 2026. Following these dealings, Barclays Capital Securities Ltd reported total interests of 82,380,740 shares (6.26%) and total short positions of 81,836,258 shares (6.22%). Dealings on that date included purchases of 53,116,039 shares and sales of 23,073,073 shares, alongside various cash-settled derivative transactions.
| Date | 3 Feb 2026 |
| Time | 11:42:11 |
| Category | Holding(s) in company |
| ID | 5370R |
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FORM 8.5 (EPT/NON-RI) |
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PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN |
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EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS |
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(OR WHERE RI STATUS IS NOT APPLICABLE) |
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Rule 8.5 of the Takeover Code (the "Code") |
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1. |
KEY INFORMATION |
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(a) |
Name of exempt principal trader: |
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BARCLAYS CAPITAL SECURITIES LTD |
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(b) |
Name of offeror/offeree in relation to whose |
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DOWLAIS GROUP PLC |
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relevant securities this form relates: |
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(c) |
Name of the party to the offer with which exempt |
DOWLAIS GROUP PLC |
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principal trader is connected |
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(d) |
Date position held/dealing undertaken: |
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02 Feb 2026 |
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(e) |
In addition to the company in 1(b) above, is the exempt principal |
YES: |
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trader making disclosures in respect of any other party to the offer? |
DAUCH CORPORATION |
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2. |
POSITIONS OF THE EXEMPT PRINCIPAL TRADER |
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(a) |
Interests and short positions in the relevant securities of the offeror or offeree |
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to which the disclosure relates following the dealing (if any) |
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Class of relevant security: |
1p ordinary |
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Interests |
Short Positions |
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Number |
(%) |
Number |
(%) |
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(1) |
Relevant securities owned |
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and/or controlled: |
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81,951,281 |
6.22% |
686,982 |
0.05% |
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(2) |
Cash-settled derivatives: |
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and/or controlled: |
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429,459 |
0.03% |
81,149,276 |
6.16% |
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(3) |
Stock-settled derivatives (including options) |
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and agreements to purchase/sell: |
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0 |
0.00% |
0 |
0.00% |
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TOTAL: |
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82,380,740 |
6.26% |
81,836,258 |
6.22% |
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(b) |
Rights to subscribe for new securities (including directors and other executive |
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options) |
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Class of relevant security in relation to |
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which subscription right exists |
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Details, including nature of the rights |
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concerned and relevant percentages: |
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3. |
DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER |
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(a) |
Purchases and sales |
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Class of relevant |
Purchase/sale |
Total number of |
Highest price per unit |
Lowest price per unit |
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security |
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securities |
paid/received |
paid/received |
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1p ordinary |
Purchase |
53,116,039 |
0.9450 GBP |
0.9275 GBP |
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1p ordinary |
Sale |
23,073,073 |
0.9520 GBP |
0.9275 GBP |
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(b) |
Cash-settled derivative transactions |
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Class of |
Product |
Nature of dealing |
Number of |
Price per |
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relevant |
description |
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reference |
unit |
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security |
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securities |
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1p ordinary |
SWAP |
Decreasing Short |
47,874 |
0.9323 GBP |
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1p ordinary |
SWAP |
Decreasing Short |
109,210 |
0.9325 GBP |
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1p ordinary |
SWAP |
Decreasing Short |
64,147 |
0.9328 GBP |
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1p ordinary |
SWAP |
Decreasing Short |
56,663 |
0.9385 GBP |
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1p ordinary |
SWAP |
Decreasing Short |
2,951 |
0.9409 GBP |
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1p ordinary |
SWAP |
Decreasing Short |
191,316 |
0.9483 GBP |
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1p ordinary |
SWAP |
Decreasing Short |
5 |
0.9520 GBP |
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1p ordinary |
SWAP |
Increasing Short |
250,687 |
0.9300 GBP |
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1p ordinary |
SWAP |
Increasing Short |
31,298 |
0.9319 GBP |
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1p ordinary |
SWAP |
Increasing Short |
17,637 |
0.9320 GBP |
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1p ordinary |
SWAP |
Increasing Short |
25,377 |
0.9322 GBP |
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1p ordinary |
SWAP |
Increasing Short |
21,503 |
0.9338 GBP |
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1p ordinary |
SWAP |
Increasing Short |
1,798 |
0.9360 GBP |
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1p ordinary |
SWAP |
Increasing Short |
3,289 |
0.9364 GBP |
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1p ordinary |
SWAP |
Increasing Short |
385,370 |
0.9380 GBP |
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1p ordinary |
SWAP |
Increasing Short |
16,701,730 |
0.9384 GBP |
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1p ordinary |
SWAP |
Increasing Short |
6,917,233 |
0.9385 GBP |
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1p ordinary |
SWAP |
Increasing Short |
1,870,241 |
0.9386 GBP |
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1p ordinary |
CFD |
Decreasing Short |
6 |
0.9366 GBP |
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1p ordinary |
CFD |
Increasing Short |
155,871 |
0.9384 GBP |
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1p ordinary |
CFD |
Increasing Short |
3,000,000 |
0.9385 GBP |
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(c) |
Stock-settled derivative transactions (including options) |
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(i) |
Writing, selling, purchasing or varying |
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Class |
Product |
Writing, |
Number |
Exercise |
Type |
Expiry |
Option |
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of |
description |
purchasing, |
of |
price |
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date |
money |
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relevant |
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selling, |
securities |
per unit |
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paid/ |
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security |
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varying etc |
to which |
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received |
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option |
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per unit |
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relates |
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(ii) |
Exercising |
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Class of relevant |
Product description |
Exercising/ exercised against |
Number of |
Exercise price per |
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security |
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securities |
unit |
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(d) |
Other dealings (including subscribing for new securities) |
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Class of relevant |
Nature of Dealings |
Details |
Price per unit (if |
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security |
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applicable) |
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4. |
OTHER INFORMATION |
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(a) |
Indemnity and other dealings arrangements |
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Details of any indemnity or option arrangement, or any agreement or understanding, |
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formal or informal, relating to relevant securities which may be an inducement to deal |
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or refrain from dealing entered into by the exempt principal trader making the disclosure and any party |
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to the offer or any person acting in concert with a party to the offer: |
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NONE |
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(b) |
Agreements, arrangements or understandings relating to options or derivatives |
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Details of any agreement, arrangement or understanding, formal or informal, between |
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the exempt principal trader making the disclosure and any other person relating to: |
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(i) the voting rights of any relevant securities under any option; or |
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(ii) the voting rights of future acquisition or disposal of any relevant securities to which |
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any derivative is referenced: |
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NONE |
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(c) |
Attachments |
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Is a Supplemental Form 8 (Open Positions) attached? |
NO |
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Date of disclosure: |
03 Feb 2026 |
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Contact name: |
Large Holdings Regulatory Operations |
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Telephone number: |
020 3134 7213 |
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