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Form 8.3 - American Axle & Manufacturing Holdings

28th Apr 2025 15:00

RNS Number : 4716G
Citadel Group
28 April 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

25 April 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:

750,549

0.63

15,525

0.01

(2) Cash-settled derivatives:

 

36,427

0.03

0

0.00

(3) Stock-settled derivatives (including options) and agreements to purchase/sell:

2,119,600

1.79

389,900

0.32

 

TOTAL:

2,906,576

2.45

405,425

0.34

 

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

100

3.6150 USD

Common

Buy Transaction

2,209

3.6200 USD

Common

Buy Transaction

512

3.6202 USD

Common

Buy Transaction

229

3.6244 USD

Common

Buy Transaction

900

3.6244 USD

Common

Buy Transaction

1,704

3.6259 USD

Common

Buy Transaction

366

3.6290 USD

Common

Buy Transaction

326

3.6300 USD

Common

Buy Transaction

267

3.6312 USD

Common

Buy Transaction

124

3.6345 USD

Common

Buy Transaction

1,800

3.6350 USD

Common

Buy Transaction

3,390

3.6400 USD

Common

Buy Transaction

1,584

3.6401 USD

Common

Buy Transaction

514

3.6450 USD

Common

Buy Transaction

19

3.6453 USD

Common

Buy Transaction

2,541

3.6464 USD

Common

Buy Transaction

4,217

3.6477 USD

Common

Buy Transaction

721

3.6500 USD

Common

Buy Transaction

5,377

3.6585 USD

Common

Buy Transaction

2,220

3.6586 USD

Common

Buy Transaction

8,839

3.6598 USD

Common

Buy Transaction

613

3.6600 USD

Common

Buy Transaction

15,400

3.6601 USD

Common

Buy Transaction

221

3.6607 USD

Common

Buy Transaction

2,284

3.6633 USD

Common

Buy Transaction

991

3.6635 USD

Common

Buy Transaction

990

3.6649 USD

Common

Buy Transaction

8,555

3.6649 USD

Common

Buy Transaction

1

3.6657 USD

Common

Buy Transaction

493

3.6662 USD

Common

Buy Transaction

12,540

3.6665 USD

Common

Buy Transaction

428

3.6676 USD

Common

Buy Transaction

2,345

3.6681 USD

Common

Buy Transaction

550

3.6681 USD

Common

Buy Transaction

15,714

3.6699 USD

Common

Buy Transaction

398

3.6700 USD

Common

Buy Transaction

5,010

3.6711 USD

Common

Buy Transaction

25,959

3.6712 USD

Common

Buy Transaction

3,438

3.6722 USD

Common

Buy Transaction

902

3.6733 USD

Common

Buy Transaction

236

3.6739 USD

Common

Buy Transaction

200

3.6750 USD

Common

Buy Transaction

21,175

3.6752 USD

Common

Buy Transaction

7,459

3.6759 USD

Common

Buy Transaction

7,416

3.6761 USD

Common

Buy Transaction

6,337

3.6765 USD

Common

Buy Transaction

395

3.6769 USD

Common

Buy Transaction

2,905

3.6777 USD

Common

Buy Transaction

6,228

3.6780 USD

Common

Buy Transaction

1,367

3.6788 USD

Common

Buy Transaction

1,000

3.6800 USD

Common

Buy Transaction

7,818

3.6809 USD

Common

Buy Transaction

632

3.6820 USD

Common

Buy Transaction

746

3.6825 USD

Common

Buy Transaction

1,000

3.6830 USD

Common

Buy Transaction

10,557

3.6832 USD

Common

Buy Transaction

961

3.6834 USD

Common

Buy Transaction

3,010

3.6834 USD

Common

Buy Transaction

361

3.6837 USD

Common

Buy Transaction

943

3.6841 USD

Common

Buy Transaction

2,592

3.6842 USD

Common

Buy Transaction

2,293

3.6860 USD

Common

Buy Transaction

937

3.6862 USD

Common

Buy Transaction

1,053

3.6873 USD

Common

Buy Transaction

4,173

3.6877 USD

Common

Buy Transaction

618

3.6882 USD

Common

Buy Transaction

42,865

3.6889 USD

Common

Buy Transaction

701

3.6900 USD

Common

Buy Transaction

600

3.6900 USD

Common

Buy Transaction

10

3.6910 USD

Common

Buy Transaction

26,226

3.6922 USD

Common

Buy Transaction

903

3.6922 USD

Common

Buy Transaction

2,605

3.6927 USD

Common

Buy Transaction

900

3.6933 USD

Common

Buy Transaction

213

3.6939 USD

Common

Buy Transaction

110

3.6940 USD

Common

Buy Transaction

2,167

3.6945 USD

Common

Buy Transaction

770

3.6950 USD

Common

Buy Transaction

2,549

3.6951 USD

Common

Buy Transaction

566

3.6956 USD

Common

Buy Transaction

46,655

3.6977 USD

Common

Buy Transaction

12,729

3.6993 USD

Common

Buy Transaction

4,818

3.6994 USD

Common

Buy Transaction

6,260

3.7000 USD

Common

Buy Transaction

1,410

3.7002 USD

Common

Buy Transaction

3,000

3.7008 USD

Common

Buy Transaction

2,000

3.7009 USD

Common

Buy Transaction

33

3.7012 USD

Common

Buy Transaction

115

3.7016 USD

Common

Buy Transaction

1,538

3.7033 USD

Common

Buy Transaction

41

3.7034 USD

Common

Buy Transaction

116

3.7034 USD

Common

Buy Transaction

265

3.7042 USD

Common

Buy Transaction

981

3.7044 USD

Common

Buy Transaction

28

3.7046 USD

Common

Buy Transaction

436

3.7055 USD

Common

Buy Transaction

153

3.7067 USD

Common

Buy Transaction

100

3.7089 USD

Common

Buy Transaction

64

3.7097 USD

Common

Buy Transaction

750

3.7099 USD

Common

Buy Transaction

2,398

3.7100 USD

Common

Buy Transaction

10

3.7110 USD

Common

Buy Transaction

310

3.7131 USD

Common

Buy Transaction

520

3.7154 USD

Common

Buy Transaction

158

3.7298 USD

Common

Buy Transaction

4,961

3.7300 USD

Common

Buy Transaction

65,097

3.7400 USD

Common

DVP Transaction

282

3.6400 USD

Common

DVP Transaction

1

3.6500 USD

Common

DVP Transaction

1

3.6600 USD

Common

DVP Transaction

342

3.6739 USD

Common

DVP Transaction

12

3.6900 USD

Common

DVP Transaction

12

3.6950 USD

Common

DVP Transaction

26

3.7000 USD

Common

DVP Transaction

12

3.7025 USD

Common

DVP Transaction

7

3.7086 USD

Common

DVP Transaction

9

3.7089 USD

Common

DVP Transaction

12

3.7100 USD

Common

DVP Transaction

13

3.7138 USD

Common

DVP Transaction

82

3.7300 USD

Common

DVP Transaction

65,097

3.7400 USD

Common

RVP Transaction

284

3.6400 USD

Common

RVP Transaction

201

3.6401 USD

Common

RVP Transaction

1

3.6500 USD

Common

RVP Transaction

2

3.7000 USD

Common

RVP Transaction

102

3.7031 USD

Common

RVP Transaction

100

3.7200 USD

Common

RVP Transaction

121

3.7300 USD

Common

RVP Transaction

65,097

3.7400 USD

Common

Sell Transaction

383

3.6100 USD

Common

Sell Transaction

600

3.6117 USD

Common

Sell Transaction

600

3.6133 USD

Common

Sell Transaction

469

3.6164 USD

Common

Sell Transaction

724

3.6172 USD

Common

Sell Transaction

3,600

3.6199 USD

Common

Sell Transaction

108

3.6200 USD

Common

Sell Transaction

7,437

3.6274 USD

Common

Sell Transaction

732

3.6290 USD

Common

Sell Transaction

10

3.6350 USD

Common

Sell Transaction

3,668

3.6380 USD

Common

Sell Transaction

156

3.6391 USD

Common

Sell Transaction

2,075

3.6400 USD

Common

Sell Transaction

700

3.6443 USD

Common

Sell Transaction

734

3.6450 USD

Common

Sell Transaction

864

3.6465 USD

Common

Sell Transaction

400

3.6475 USD

Common

Sell Transaction

838

3.6500 USD

Common

Sell Transaction

118

3.6509 USD

Common

Sell Transaction

100

3.6550 USD

Common

Sell Transaction

800

3.6575 USD

Common

Sell Transaction

736

3.6577 USD

Common

Sell Transaction

301

3.6600 USD

Common

Sell Transaction

94

3.6639 USD

Common

Sell Transaction

28

3.6679 USD

Common

Sell Transaction

33

3.6697 USD

Common

Sell Transaction

200

3.6700 USD

Common

Sell Transaction

4,598

3.6705 USD

Common

Sell Transaction

2,724

3.6705 USD

Common

Sell Transaction

165

3.6750 USD

Common

Sell Transaction

499

3.6760 USD

Common

Sell Transaction

3,419

3.6772 USD

Common

Sell Transaction

400

3.6775 USD

Common

Sell Transaction

1,914

3.6777 USD

Common

Sell Transaction

900

3.6789 USD

Common

Sell Transaction

1,734

3.6790 USD

Common

Sell Transaction

100

3.6800 USD

Common

Sell Transaction

758

3.6809 USD

Common

Sell Transaction

8

3.6825 USD

Common

Sell Transaction

12,095

3.6828 USD

Common

Sell Transaction

4,122

3.6829 USD

Common

Sell Transaction

200

3.6850 USD

Common

Sell Transaction

945

3.6850 USD

Common

Sell Transaction

3,427

3.6856 USD

Common

Sell Transaction

51,464

3.6860 USD

Common

Sell Transaction

300

3.6867 USD

Common

Sell Transaction

700

3.6871 USD

Common

Sell Transaction

500

3.6880 USD

Common

Sell Transaction

2,095

3.6887 USD

Common

Sell Transaction

16,647

3.6891 USD

Common

Sell Transaction

318

3.6900 USD

Common

Sell Transaction

1,670

3.6937 USD

Common

Sell Transaction

1

3.6946 USD

Common

Sell Transaction

468

3.6950 USD

Common

Sell Transaction

1,100

3.6950 USD

Common

Sell Transaction

459

3.6954 USD

Common

Sell Transaction

23,128

3.6970 USD

Common

Sell Transaction

1,700

3.6971 USD

Common

Sell Transaction

10

3.6990 USD

Common

Sell Transaction

118

3.6994 USD

Common

Sell Transaction

447

3.7000 USD

Common

Sell Transaction

1,100

3.7009 USD

Common

Sell Transaction

883

3.7020 USD

Common

Sell Transaction

1,520

3.7039 USD

Common

Sell Transaction

5,510

3.7050 USD

Common

Sell Transaction

446

3.7053 USD

Common

Sell Transaction

200

3.7089 USD

Common

Sell Transaction

109

3.7091 USD

Common

Sell Transaction

1,711

3.7091 USD

Common

Sell Transaction

176

3.7092 USD

Common

Sell Transaction

43

3.7100 USD

Common

Sell Transaction

1,489

3.7106 USD

Common

Sell Transaction

1,283

3.7166 USD

Common

Sell Transaction

10,191

3.7170 USD

Common

Sell Transaction

464

3.7191 USD

Common

Sell Transaction

4,024

3.7200 USD

Common

Sell Transaction

1,953

3.7252 USD

Common

Sell Transaction

1,976

3.7300 USD

Common

Sell Transaction

65,097

3.7400 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

Common

CFD

Reducing long position

197

3.7102 USD

Common

CFD

Reducing long position

2,175

3.7103 USD

 

(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

Buy Transaction

3

5.0000 USD

American

2025-Jun-20

0.0500 USD

Common

Call Option

Buy Transaction

24

4.0000 USD

American

2025-Jul-18

0.3000 USD

Common

Put Option

Buy Transaction

13

5.0000 USD

American

2025-May-16

1.3000 USD

Common

Call Option

DVP Transaction

3

5.0000 USD

American

2025-Jun-20

0.0500 USD

Common

Call Option

DVP Transaction

4

5.0000 USD

American

2025-Jul-18

0.1500 USD

Common

Call Option

DVP Transaction

11

5.0000 USD

American

2025-Jul-18

0.1573 USD

Common

Call Option

DVP Transaction

30

5.0000 USD

American

2025-Jul-18

0.1800 USD

Common

Call Option

DVP Transaction

7

5.0000 USD

American

2025-Jul-18

0.1843 USD

Common

Call Option

DVP Transaction

30

4.0000 USD

American

2025-Jul-18

0.3900 USD

Common

Call Option

RVP Transaction

3

5.0000 USD

American

2025-Jun-20

0.0500 USD

Common

Call Option

RVP Transaction

3

5.0000 USD

American

2025-Jul-18

0.1500 USD

Common

Call Option

RVP Transaction

7

5.0000 USD

American

2025-Jul-18

0.1600 USD

Common

Call Option

RVP Transaction

39

5.0000 USD

American

2025-Jul-18

0.1756 USD

Common

Call Option

RVP Transaction

3

5.0000 USD

American

2025-Jul-18

0.2000 USD

Common

Call Option

RVP Transaction

30

4.0000 USD

American

2025-Jul-18

0.3900 USD

Common

Call Option

Sell Transaction

7

5.0000 USD

American

2025-Jun-20

0.0600 USD

Common

Call Option

Sell Transaction

6

5.0000 USD

American

2025-Jun-20

0.1000 USD

Common

Call Option

Sell Transaction

204

5.0000 USD

American

2025-Jul-18

0.1500 USD

Common

Call Option

Sell Transaction

5

5.0000 USD

American

2025-Jul-18

0.1600 USD

Common

Call Option

Sell Transaction

52

5.0000 USD

American

2025-Jul-18

0.1700 USD

Common

Call Option

Sell Transaction

12

4.0000 USD

American

2025-May-16

0.1700 USD

Common

Call Option

Sell Transaction

19

5.0000 USD

American

2025-Jul-18

0.1800 USD

Common

Call Option

Sell Transaction

22

5.0000 USD

American

2025-Jul-18

0.2000 USD

 

(ii) Exercise

 

Class of relevant security

Product description

e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

Common

Put Option

Exercising

1,042

6.0000 USD

 

Common

Put Option

Exercising

998

7.0000 USD

 

 

(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:

28 April 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

200

6.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Purchased

700

10.0 USD

 

American

 

18/07/2025

 

Common

Put Option

Purchased

-1,300

5.0 USD

 

American

 

16/05/2025

 

Common

Call Option

Purchased

150,000

4.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Purchased

245,600

6.0 USD

 

American

 

18/07/2025

 

Common

Put Option

Purchased

-8,400

5.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Purchased

-1,400

4.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Purchased

7,800

5.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Purchased

600,000

6.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Purchased

1,000,000

5.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Purchased

800

5.0 USD

 

American

 

16/05/2025

 

Common

Call Option

Purchased

2,500

10.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Purchased

-13,000

3.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Purchased

-900

5.0 USD

 

American

 

17/07/2026

 

Common

Put Option

Purchased

-300

5.0 USD

 

American

 

17/10/2025

 

Common

Put Option

Purchased

-400

4.0 USD

 

American

 

16/05/2025

 

Common

Put Option

Purchased

-4,300

4.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Purchased

3,500

4.0 USD

 

American

 

16/05/2025

 

Common

Put Option

Purchased

-1,400

5.0 USD

 

American

 

20/06/2025

 

Common

Put Option

Purchased

-500

3.0 USD

 

American

 

16/05/2025

 

Common

Call Option

Purchased

5,000

5.0 USD

 

American

 

20/06/2025

 

Common

Put Option

Purchased

-700

7.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Purchased

800

5.0 USD

 

American

 

17/10/2025

 

Common

Put Option

Purchased

-5,400

4.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Purchased

300

8.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Purchased

2,300

7.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Sold

-12,000

4.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Sold

-100

3.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Sold

-500

3.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Sold

-500

4.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-2,000

6.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Sold

-29,400

8.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Sold

-900

3.0 USD

 

American

 

16/05/2025

 

Common

Call Option

Sold

-200

15.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Sold

200

5.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Sold

-200

7.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Sold

-2,800

4.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Sold

-118,400

7.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-9,100

4.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Sold

-100

7.0 USD

 

American

 

17/10/2025

 

Common

Call Option

Sold

-1,400

3.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-800

12.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Sold

99,900

8.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Sold

-3,400

10.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Sold

-36,100

5.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Sold

-2,500

4.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Sold

-100

3.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Sold

-200

3.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Sold

-131,200

5.0 USD

 

American

 

18/07/2025

 

 

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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