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Form 8.3 - American Axle & manufacturing Holdings

12th Mar 2025 15:00

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

 

(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

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

 

 

(c) Attachments

 

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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