/Equities/XLON/DWL/RNS

Form 8.3 - American Axle & manufacturing Holdings

RNS Number : 4169A

Citadel Group

12 March 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	11 March 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:	1,245,526	1.05	165,921	0.14
(2) Cash-settled derivatives:	0	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	1,039,200	0.88	605,900	0.51
TOTAL:	2,284,726	1.94	771,821	0.65

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	120	4.4700 USD
Common	Buy Transaction	200	4.4710 USD
Common	Buy Transaction	2,365	4.4720 USD
Common	Buy Transaction	1,400	4.4750 USD
Common	Buy Transaction	100	4.4800 USD
Common	Buy Transaction	30	4.4807 USD
Common	Buy Transaction	260	4.4850 USD
Common	Buy Transaction	1,366	4.4869 USD
Common	Buy Transaction	316	4.4877 USD
Common	Buy Transaction	621	4.4879 USD
Common	Buy Transaction	2,400	4.4879 USD
Common	Buy Transaction	743	4.4897 USD
Common	Buy Transaction	589	4.4900 USD
Common	Buy Transaction	100	4.4901 USD
Common	Buy Transaction	114	4.4910 USD
Common	Buy Transaction	646	4.4937 USD
Common	Buy Transaction	3,382	4.4959 USD
Common	Buy Transaction	462	4.4966 USD
Common	Buy Transaction	220	4.4991 USD
Common	Buy Transaction	35,007	4.4994 USD
Common	Buy Transaction	35	4.4997 USD
Common	Buy Transaction	269	4.5000 USD
Common	Buy Transaction	101	4.5006 USD
Common	Buy Transaction	204	4.5010 USD
Common	Buy Transaction	1,057	4.5020 USD
Common	Buy Transaction	772	4.5038 USD
Common	Buy Transaction	20	4.5050 USD
Common	Buy Transaction	700	4.5064 USD
Common	Buy Transaction	769	4.5100 USD
Common	Buy Transaction	1,126	4.5103 USD
Common	Buy Transaction	1,200	4.5125 USD
Common	Buy Transaction	1,600	4.5141 USD
Common	Buy Transaction	109	4.5141 USD
Common	Buy Transaction	1,343	4.5142 USD
Common	Buy Transaction	200	4.5150 USD
Common	Buy Transaction	1,240	4.5156 USD
Common	Buy Transaction	280	4.5157 USD
Common	Buy Transaction	374	4.5169 USD
Common	Buy Transaction	3,700	4.5181 USD
Common	Buy Transaction	2,900	4.5184 USD
Common	Buy Transaction	154	4.5190 USD
Common	Buy Transaction	59	4.5193 USD
Common	Buy Transaction	1,065	4.5193 USD
Common	Buy Transaction	3,015	4.5195 USD
Common	Buy Transaction	46	4.5200 USD
Common	Buy Transaction	3,099	4.5211 USD
Common	Buy Transaction	137	4.5216 USD
Common	Buy Transaction	68	4.5218 USD
Common	Buy Transaction	3,069	4.5218 USD
Common	Buy Transaction	38	4.5242 USD
Common	Buy Transaction	156	4.5269 USD
Common	Buy Transaction	213	4.5274 USD
Common	Buy Transaction	724	4.5283 USD
Common	Buy Transaction	2,395	4.5287 USD
Common	Buy Transaction	100	4.5300 USD
Common	Buy Transaction	3,038	4.5314 USD
Common	Buy Transaction	762	4.5322 USD
Common	Buy Transaction	40	4.5325 USD
Common	Buy Transaction	195	4.5346 USD
Common	Buy Transaction	363	4.5349 USD
Common	Buy Transaction	180	4.5353 USD
Common	Buy Transaction	5,504	4.5354 USD
Common	Buy Transaction	516	4.5360 USD
Common	Buy Transaction	1,907	4.5373 USD
Common	Buy Transaction	3,749	4.5373 USD
Common	Buy Transaction	148	4.5386 USD
Common	Buy Transaction	2,507	4.5392 USD
Common	Buy Transaction	1,055	4.5396 USD
Common	Buy Transaction	697	4.5397 USD
Common	Buy Transaction	266	4.5400 USD
Common	Buy Transaction	147	4.5400 USD
Common	Buy Transaction	839	4.5409 USD
Common	Buy Transaction	1,124	4.5422 USD
Common	Buy Transaction	1,300	4.5438 USD
Common	Buy Transaction	1,246	4.5440 USD
Common	Buy Transaction	874	4.5441 USD
Common	Buy Transaction	204	4.5445 USD
Common	Buy Transaction	1,083	4.5449 USD
Common	Buy Transaction	27	4.5463 USD
Common	Buy Transaction	235	4.5464 USD
Common	Buy Transaction	325	4.5469 USD
Common	Buy Transaction	3,930	4.5480 USD
Common	Buy Transaction	138	4.5491 USD
Common	Buy Transaction	1,895	4.5493 USD
Common	Buy Transaction	205	4.5495 USD
Common	Buy Transaction	3,988	4.5498 USD
Common	Buy Transaction	9,670	4.5499 USD
Common	Buy Transaction	217	4.5500 USD
Common	Buy Transaction	27,118	4.5500 USD
Common	Buy Transaction	349	4.5514 USD
Common	Buy Transaction	369	4.5515 USD
Common	Buy Transaction	57	4.5526 USD
Common	Buy Transaction	325	4.5560 USD
Common	Buy Transaction	238	4.5568 USD
Common	Buy Transaction	350	4.5577 USD
Common	Buy Transaction	1,806	4.5585 USD
Common	Buy Transaction	377	4.5585 USD
Common	Buy Transaction	3,561	4.5594 USD
Common	Buy Transaction	257	4.5599 USD
Common	Buy Transaction	20,796	4.5600 USD
Common	Buy Transaction	648	4.5609 USD
Common	Buy Transaction	600	4.5617 USD
Common	Buy Transaction	2,205	4.5617 USD
Common	Buy Transaction	809	4.5631 USD
Common	Buy Transaction	623	4.5633 USD
Common	Buy Transaction	21	4.5700 USD
Common	Buy Transaction	797	4.5707 USD
Common	Buy Transaction	82	4.5800 USD
Common	Buy Transaction	1	4.5900 USD
Common	Buy Transaction	130	4.6000 USD
Common	Buy Transaction	100	4.6100 USD
Common	DVP Transaction	5,000	4.5000 USD
Common	DVP Transaction	25	4.5100 USD
Common	DVP Transaction	7,281	4.5245 USD
Common	DVP Transaction	2,379	4.5500 USD
Common	DVP Transaction	14,798	4.5600 USD
Common	DVP Transaction	1,076	4.5900 USD
Common	RVP Transaction	108	4.4850 USD
Common	RVP Transaction	197	4.4850 USD
Common	RVP Transaction	120	4.4880 USD
Common	RVP Transaction	266	4.4912 USD
Common	RVP Transaction	273	4.4963 USD
Common	RVP Transaction	5,028	4.5003 USD
Common	RVP Transaction	398	4.5050 USD
Common	RVP Transaction	25	4.5100 USD
Common	RVP Transaction	1,199	4.5125 USD
Common	RVP Transaction	4	4.5150 USD
Common	RVP Transaction	414	4.5199 USD
Common	RVP Transaction	504	4.5201 USD
Common	RVP Transaction	214	4.5229 USD
Common	RVP Transaction	241	4.5259 USD
Common	RVP Transaction	162	4.5309 USD
Common	RVP Transaction	743	4.5359 USD
Common	RVP Transaction	988	4.5381 USD
Common	RVP Transaction	324	4.5417 USD
Common	RVP Transaction	838	4.5479 USD
Common	RVP Transaction	2,390	4.5500 USD
Common	RVP Transaction	78	4.5596 USD
Common	RVP Transaction	14,798	4.5600 USD
Common	RVP Transaction	174	4.5670 USD
Common	RVP Transaction	1,073	4.5900 USD
Common	Sell Transaction	5	4.4600 USD
Common	Sell Transaction	6	4.4700 USD
Common	Sell Transaction	1,600	4.4806 USD
Common	Sell Transaction	4,043	4.4809 USD
Common	Sell Transaction	24	4.4850 USD
Common	Sell Transaction	8,477	4.4892 USD
Common	Sell Transaction	301	4.4897 USD
Common	Sell Transaction	111	4.4900 USD
Common	Sell Transaction	3,271	4.4902 USD
Common	Sell Transaction	173	4.4928 USD
Common	Sell Transaction	6,274	4.4938 USD
Common	Sell Transaction	41	4.4941 USD
Common	Sell Transaction	50	4.4944 USD
Common	Sell Transaction	5,110	4.4954 USD
Common	Sell Transaction	1,190	4.4958 USD
Common	Sell Transaction	100	4.4975 USD
Common	Sell Transaction	92	4.4985 USD
Common	Sell Transaction	1,168	4.5000 USD
Common	Sell Transaction	29,369	4.5000 USD
Common	Sell Transaction	2,551	4.5014 USD
Common	Sell Transaction	400	4.5025 USD
Common	Sell Transaction	267	4.5036 USD
Common	Sell Transaction	399	4.5047 USD
Common	Sell Transaction	65	4.5060 USD
Common	Sell Transaction	88	4.5066 USD
Common	Sell Transaction	371	4.5077 USD
Common	Sell Transaction	29	4.5083 USD
Common	Sell Transaction	1,231	4.5096 USD
Common	Sell Transaction	2	4.5100 USD
Common	Sell Transaction	101	4.5117 USD
Common	Sell Transaction	29,050	4.5138 USD
Common	Sell Transaction	12,274	4.5144 USD
Common	Sell Transaction	158	4.5149 USD
Common	Sell Transaction	746	4.5150 USD
Common	Sell Transaction	647	4.5156 USD
Common	Sell Transaction	59	4.5193 USD
Common	Sell Transaction	100	4.5194 USD
Common	Sell Transaction	200	4.5200 USD
Common	Sell Transaction	5,206	4.5239 USD
Common	Sell Transaction	3,311	4.5245 USD
Common	Sell Transaction	619	4.5247 USD
Common	Sell Transaction	354	4.5259 USD
Common	Sell Transaction	99	4.5267 USD
Common	Sell Transaction	3,325	4.5286 USD
Common	Sell Transaction	1,800	4.5294 USD
Common	Sell Transaction	2,567	4.5300 USD
Common	Sell Transaction	103	4.5300 USD
Common	Sell Transaction	1,001	4.5303 USD
Common	Sell Transaction	1,268	4.5311 USD
Common	Sell Transaction	342	4.5312 USD
Common	Sell Transaction	116	4.5322 USD
Common	Sell Transaction	411	4.5332 USD
Common	Sell Transaction	445	4.5337 USD
Common	Sell Transaction	2,044	4.5340 USD
Common	Sell Transaction	407	4.5342 USD
Common	Sell Transaction	200	4.5350 USD
Common	Sell Transaction	400	4.5375 USD
Common	Sell Transaction	78	4.5381 USD
Common	Sell Transaction	1,074	4.5400 USD
Common	Sell Transaction	1,474	4.5410 USD
Common	Sell Transaction	783	4.5413 USD
Common	Sell Transaction	1,555	4.5423 USD
Common	Sell Transaction	1,100	4.5468 USD
Common	Sell Transaction	325	4.5469 USD
Common	Sell Transaction	3,999	4.5478 USD
Common	Sell Transaction	27,633	4.5500 USD
Common	Sell Transaction	584	4.5523 USD
Common	Sell Transaction	2,199	4.5533 USD
Common	Sell Transaction	417	4.5545 USD
Common	Sell Transaction	204	4.5550 USD
Common	Sell Transaction	1	4.5551 USD
Common	Sell Transaction	333	4.5551 USD
Common	Sell Transaction	745	4.5559 USD
Common	Sell Transaction	283	4.5561 USD
Common	Sell Transaction	179	4.5564 USD
Common	Sell Transaction	592	4.5569 USD
Common	Sell Transaction	400	4.5575 USD
Common	Sell Transaction	815	4.5587 USD
Common	Sell Transaction	9	4.5589 USD
Common	Sell Transaction	56	4.5593 USD
Common	Sell Transaction	15,007	4.5600 USD
Common	Sell Transaction	284	4.5617 USD
Common	Sell Transaction	518	4.5619 USD
Common	Sell Transaction	13	4.5631 USD
Common	Sell Transaction	449	4.5663 USD
Common	Sell Transaction	8,280	4.5673 USD
Common	Sell Transaction	314	4.5676 USD
Common	Sell Transaction	129	4.5678 USD
Common	Sell Transaction	12	4.5692 USD
Common	Sell Transaction	204	4.5698 USD
Common	Sell Transaction	2,987	4.5700 USD
Common	Sell Transaction	425	4.5724 USD
Common	Sell Transaction	307	4.5741 USD
Common	Sell Transaction	836	4.5748 USD
Common	Sell Transaction	2,643	4.5753 USD
Common	Sell Transaction	1,452	4.5800 USD
Common	Sell Transaction	1,921	4.5808 USD
Common	Sell Transaction	1,140	4.5813 USD
Common	Sell Transaction	600	4.5845 USD
Common	Sell Transaction	600	4.5850 USD
Common	Sell Transaction	1	4.5900 USD
Common	Sell Transaction	200	4.6000 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

(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	1	6.0000 USD	American	2025-Mar-21	0.0500 USD
Common	Call Option	Sell Transaction	29	10.0000 USD	American	2026-Jul-17	0.2000 USD
Common	Put Option	Sell Transaction	1	7.0000 USD	American	2025-Jun-20	2.5100 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

Is a Supplemental Form 8 (Open Positions) attached?

YES

Date of disclosure:	12 March 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	2,500	10.0 USD	American	16/01/2026
Common	Put Option	Purchased	-200	5.0 USD	American	18/07/2025
Common	Put Option	Purchased	-4,300	4.0 USD	American	20/06/2025
Common	Put Option	Purchased	-800	5.0 USD	American	17/04/2025
Common	Put Option	Purchased	-700	7.0 USD	American	18/07/2025
Common	Put Option	Purchased	-800	5.0 USD	American	20/06/2025
Common	Put Option	Purchased	-500	5.0 USD	American	17/10/2025
Common	Call Option	Purchased	246,200	6.0 USD	American	18/07/2025
Common	Put Option	Purchased	-104,200	6.0 USD	American	20/06/2025
Common	Put Option	Purchased	-3,800	4.0 USD	American	17/04/2025
Common	Put Option	Purchased	-5,800	5.0 USD	American	21/03/2025
Common	Call Option	Purchased	600,000	6.0 USD	American	18/07/2025
Common	Call Option	Purchased	900	5.0 USD	American	16/01/2026
Common	Call Option	Purchased	2,300	7.0 USD	American	20/06/2025
Common	Call Option	Purchased	300	8.0 USD	American	20/06/2025
Common	Put Option	Purchased	-5,400	4.0 USD	American	18/07/2025
Common	Call Option	Purchased	700	10.0 USD	American	18/07/2025
Common	Put Option	Purchased	-99,800	7.0 USD	American	20/06/2025
Common	Put Option	Purchased	-8,400	5.0 USD	American	16/01/2026
Common	Call Option	Purchased	600	10.0 USD	American	17/04/2025
Common	Call Option	Purchased	700	4.0 USD	American	21/03/2025
Common	Put Option	Purchased	-100	8.0 USD	American	21/03/2025
Common	Put Option	Purchased	-4,000	3.0 USD	American	16/01/2026
Common	Put Option	Sold	7,600	6.0 USD	American	17/04/2025
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	-1,700	6.0 USD	American	17/04/2025
Common	Put Option	Sold	74,900	7.0 USD	American	16/01/2026
Common	Call Option	Sold	-116,600	7.0 USD	American	16/01/2026
Common	Call Option	Sold	-1,900	9.0 USD	American	17/04/2025
Common	Call Option	Sold	-3,600	4.0 USD	American	18/07/2025
Common	Call Option	Sold	-14,100	6.0 USD	American	21/03/2025
Common	Call Option	Sold	-1,200	6.0 USD	American	20/06/2025
Common	Call Option	Sold	-8,800	4.0 USD	American	20/06/2025
Common	Put Option	Sold	1,000	6.0 USD	American	18/07/2025
Common	Call Option	Sold	-500	4.0 USD	American	16/01/2026
Common	Call Option	Sold	-2,500	4.0 USD	American	17/07/2026
Common	Call Option	Sold	-8,600	8.0 USD	American	17/04/2025
Common	Call Option	Sold	-1,000	3.0 USD	American	16/01/2026
Common	Call Option	Sold	-500	3.0 USD	American	17/07/2026
Common	Call Option	Sold	-3,200	4.0 USD	American	17/04/2025
Common	Call Option	Sold	-100,800	5.0 USD	American	18/07/2025
Common	Call Option	Sold	-13,900	5.0 USD	American	17/04/2025
Common	Call Option	Sold	-3,400	10.0 USD	American	17/07/2026
Common	Put Option	Sold	99,900	8.0 USD	American	20/06/2025
Common	Put Option	Sold	1,600	4.0 USD	American	21/03/2025
Common	Call Option	Sold	-200	7.0 USD	American	18/07/2025
Common	Call Option	Sold	-800	12.0 USD	American	16/01/2026
Common	Call Option	Sold	-200	6.0 USD	American	17/10/2025
Common	Call Option	Sold	-29,400	8.0 USD	American	18/07/2025
Common	Call Option	Sold	-12,700	7.0 USD	American	17/04/2025
Common	Call Option	Sold	-1,600	5.0 USD	American	20/06/2025
Common	Call Option	Sold	-300	5.0 USD	American	21/03/2025
Common	Call Option	Sold	-200	15.0 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

RETPKBBBNBKDPND

Date	12 Mar 2025
Time	15:00:01
Category	Holding(s) in company
ID	4169A

Date	12 Mar 2025
Time	15:00:01
Category	Holding(s) in company
ID	4169A

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Form 8.3 - American Axle & manufacturing Holdings