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Form 8.3 - American Axle & Manufacturing Holdings

24th Feb 2025 15:00

RNS Number : 2418Y
Citadel Group
24 February 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

21 February 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:

1,128,570

0.95

1,300,696

1.10

(2) Cash-settled derivatives:

 

0

0.00

0

0.00

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

449,600

0.38

584,600

0.49

 

TOTAL:

1,578,170

1.34

1,885,296

1.60

 

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

62,999

5.6000 USD

Common

Buy Transaction

538

5.6007 USD

Common

Buy Transaction

108

5.6008 USD

Common

Buy Transaction

1,400

5.6050 USD

Common

Buy Transaction

1,352

5.6056 USD

Common

Buy Transaction

166

5.6100 USD

Common

Buy Transaction

787

5.6141 USD

Common

Buy Transaction

2

5.6200 USD

Common

Buy Transaction

100

5.6300 USD

Common

Buy Transaction

101

5.6320 USD

Common

Buy Transaction

245

5.6348 USD

Common

Buy Transaction

46

5.6350 USD

Common

Buy Transaction

28

5.6400 USD

Common

Buy Transaction

267

5.6425 USD

Common

Buy Transaction

1,920

5.6429 USD

Common

Buy Transaction

609

5.6495 USD

Common

Buy Transaction

614

5.6500 USD

Common

Buy Transaction

432

5.6510 USD

Common

Buy Transaction

800

5.6513 USD

Common

Buy Transaction

3,115

5.6524 USD

Common

Buy Transaction

5,597

5.6532 USD

Common

Buy Transaction

2

5.6550 USD

Common

Buy Transaction

22

5.6591 USD

Common

Buy Transaction

600

5.6600 USD

Common

Buy Transaction

2,302

5.6636 USD

Common

Buy Transaction

328

5.6638 USD

Common

Buy Transaction

10

5.6650 USD

Common

Buy Transaction

312

5.6655 USD

Common

Buy Transaction

17

5.6665 USD

Common

Buy Transaction

1,632

5.6700 USD

Common

Buy Transaction

20

5.6705 USD

Common

Buy Transaction

440

5.6725 USD

Common

Buy Transaction

6

5.6767 USD

Common

Buy Transaction

2,392

5.6776 USD

Common

Buy Transaction

293

5.6825 USD

Common

Buy Transaction

1,251

5.6827 USD

Common

Buy Transaction

2,889

5.6843 USD

Common

Buy Transaction

4,168

5.6860 USD

Common

Buy Transaction

33

5.6868 USD

Common

Buy Transaction

1,136

5.6923 USD

Common

Buy Transaction

4,161

5.6927 USD

Common

Buy Transaction

222

5.6967 USD

Common

Buy Transaction

7,997

5.6991 USD

Common

Buy Transaction

1,738

5.7001 USD

Common

Buy Transaction

4,700

5.7012 USD

Common

Buy Transaction

862

5.7024 USD

Common

Buy Transaction

5

5.7040 USD

Common

Buy Transaction

410

5.7050 USD

Common

Buy Transaction

1,000

5.7060 USD

Common

Buy Transaction

82

5.7077 USD

Common

Buy Transaction

1,300

5.7092 USD

Common

Buy Transaction

3,776

5.7152 USD

Common

Buy Transaction

400

5.7175 USD

Common

Buy Transaction

100

5.7200 USD

Common

Buy Transaction

450

5.7211 USD

Common

Buy Transaction

771

5.7215 USD

Common

Buy Transaction

655

5.7220 USD

Common

Buy Transaction

700

5.7229 USD

Common

Buy Transaction

63

5.7236 USD

Common

Buy Transaction

174

5.7269 USD

Common

Buy Transaction

711

5.7270 USD

Common

Buy Transaction

504

5.7281 USD

Common

Buy Transaction

285

5.7300 USD

Common

Buy Transaction

4,453

5.7314 USD

Common

Buy Transaction

358

5.7324 USD

Common

Buy Transaction

70

5.7336 USD

Common

Buy Transaction

3

5.7367 USD

Common

Buy Transaction

301

5.7367 USD

Common

Buy Transaction

428

5.7373 USD

Common

Buy Transaction

12

5.7375 USD

Common

Buy Transaction

1,082

5.7404 USD

Common

Buy Transaction

202

5.7417 USD

Common

Buy Transaction

3,693

5.7418 USD

Common

Buy Transaction

856

5.7424 USD

Common

Buy Transaction

684

5.7430 USD

Common

Buy Transaction

513

5.7454 USD

Common

Buy Transaction

3

5.7467 USD

Common

Buy Transaction

1,690

5.7509 USD

Common

Buy Transaction

15

5.7520 USD

Common

Buy Transaction

6,919

5.7572 USD

Common

Buy Transaction

137

5.7580 USD

Common

Buy Transaction

600

5.7600 USD

Common

Buy Transaction

476

5.7651 USD

Common

Buy Transaction

40

5.7675 USD

Common

Buy Transaction

948

5.7677 USD

Common

Buy Transaction

166

5.7678 USD

Common

Buy Transaction

38

5.7700 USD

Common

Buy Transaction

81

5.7723 USD

Common

Buy Transaction

219

5.7738 USD

Common

Buy Transaction

326

5.7739 USD

Common

Buy Transaction

539

5.7797 USD

Common

Buy Transaction

16

5.7800 USD

Common

Buy Transaction

260

5.7823 USD

Common

Buy Transaction

4

5.7825 USD

Common

Buy Transaction

876

5.7827 USD

Common

Buy Transaction

1,083

5.7841 USD

Common

Buy Transaction

100

5.7850 USD

Common

Buy Transaction

608

5.7873 USD

Common

Buy Transaction

88

5.7892 USD

Common

Buy Transaction

1

5.7900 USD

Common

Buy Transaction

80

5.7901 USD

Common

Buy Transaction

655

5.7903 USD

Common

Buy Transaction

240

5.7928 USD

Common

Buy Transaction

1,867

5.8000 USD

Common

Buy Transaction

100

5.8050 USD

Common

Buy Transaction

101

5.8059 USD

Common

Buy Transaction

3,668

5.8063 USD

Common

Buy Transaction

1,953

5.8100 USD

Common

Buy Transaction

444

5.8134 USD

Common

Buy Transaction

110

5.8136 USD

Common

Buy Transaction

400

5.8145 USD

Common

Buy Transaction

97

5.8155 USD

Common

Buy Transaction

70

5.8199 USD

Common

Buy Transaction

475

5.8200 USD

Common

Buy Transaction

200

5.8350 USD

Common

Buy Transaction

317

5.8500 USD

Common

Buy Transaction

368

5.9000 USD

Common

DVP Transaction

59,512

5.6000 USD

Common

DVP Transaction

4,679

5.7164 USD

Common

DVP Transaction

1

5.8600 USD

Common

DVP Transaction

1

5.9100 USD

Common

DVP Transaction

183

5.9115 USD

Common

DVP Transaction

1

5.9700 USD

Common

DVP Transaction

8,573

5.9800 USD

Common

RVP Transaction

59,445

5.6000 USD

Common

RVP Transaction

120

5.6050 USD

Common

RVP Transaction

20

5.6055 USD

Common

RVP Transaction

101

5.6154 USD

Common

RVP Transaction

100

5.6300 USD

Common

RVP Transaction

100

5.6350 USD

Common

RVP Transaction

114

5.6455 USD

Common

RVP Transaction

292

5.6564 USD

Common

RVP Transaction

227

5.6617 USD

Common

RVP Transaction

129

5.6729 USD

Common

RVP Transaction

213

5.6889 USD

Common

RVP Transaction

457

5.7095 USD

Common

RVP Transaction

759

5.7147 USD

Common

RVP Transaction

207

5.7357 USD

Common

RVP Transaction

588

5.7553 USD

Common

RVP Transaction

169

5.7601 USD

Common

RVP Transaction

676

5.7653 USD

Common

RVP Transaction

120

5.7728 USD

Common

RVP Transaction

203

5.7875 USD

Common

RVP Transaction

84

5.8093 USD

Common

RVP Transaction

1

5.8600 USD

Common

RVP Transaction

2

5.9400 USD

Common

RVP Transaction

8,114

5.9753 USD

Common

RVP Transaction

709

5.9800 USD

Common

Sell Transaction

62,574

5.6000 USD

Common

Sell Transaction

132

5.6013 USD

Common

Sell Transaction

100

5.6100 USD

Common

Sell Transaction

211

5.6143 USD

Common

Sell Transaction

330

5.6200 USD

Common

Sell Transaction

2,713

5.6212 USD

Common

Sell Transaction

400

5.6250 USD

Common

Sell Transaction

1,551

5.6252 USD

Common

Sell Transaction

1,262

5.6259 USD

Common

Sell Transaction

774

5.6277 USD

Common

Sell Transaction

20,416

5.6286 USD

Common

Sell Transaction

1,828

5.6287 USD

Common

Sell Transaction

1,626

5.6300 USD

Common

Sell Transaction

1,663

5.6318 USD

Common

Sell Transaction

645

5.6386 USD

Common

Sell Transaction

600

5.6400 USD

Common

Sell Transaction

238

5.6417 USD

Common

Sell Transaction

1,291

5.6458 USD

Common

Sell Transaction

18,423

5.6468 USD

Common

Sell Transaction

1,000

5.6470 USD

Common

Sell Transaction

2,820

5.6472 USD

Common

Sell Transaction

572

5.6472 USD

Common

Sell Transaction

131

5.6492 USD

Common

Sell Transaction

35

5.6500 USD

Common

Sell Transaction

1,013

5.6506 USD

Common

Sell Transaction

108

5.6507 USD

Common

Sell Transaction

3,039

5.6526 USD

Common

Sell Transaction

1,794

5.6540 USD

Common

Sell Transaction

1,000

5.6540 USD

Common

Sell Transaction

562

5.6550 USD

Common

Sell Transaction

1,953

5.6552 USD

Common

Sell Transaction

4,131

5.6561 USD

Common

Sell Transaction

1,074

5.6586 USD

Common

Sell Transaction

5,107

5.6589 USD

Common

Sell Transaction

900

5.6591 USD

Common

Sell Transaction

7,853

5.6600 USD

Common

Sell Transaction

693

5.6600 USD

Common

Sell Transaction

4,821

5.6622 USD

Common

Sell Transaction

1,035

5.6630 USD

Common

Sell Transaction

179

5.6644 USD

Common

Sell Transaction

672

5.6650 USD

Common

Sell Transaction

440

5.6662 USD

Common

Sell Transaction

564

5.6684 USD

Common

Sell Transaction

329

5.6685 USD

Common

Sell Transaction

100

5.6690 USD

Common

Sell Transaction

1

5.6700 USD

Common

Sell Transaction

186

5.6729 USD

Common

Sell Transaction

1,865

5.6743 USD

Common

Sell Transaction

2,933

5.6753 USD

Common

Sell Transaction

297

5.6758 USD

Common

Sell Transaction

2,127

5.6807 USD

Common

Sell Transaction

349

5.6811 USD

Common

Sell Transaction

432

5.6859 USD

Common

Sell Transaction

291

5.6878 USD

Common

Sell Transaction

2,540

5.6898 USD

Common

Sell Transaction

818

5.6899 USD

Common

Sell Transaction

558

5.6929 USD

Common

Sell Transaction

1,408

5.6932 USD

Common

Sell Transaction

4,751

5.6974 USD

Common

Sell Transaction

16

5.7012 USD

Common

Sell Transaction

6,555

5.7016 USD

Common

Sell Transaction

400

5.7025 USD

Common

Sell Transaction

1,596

5.7060 USD

Common

Sell Transaction

7,186

5.7062 USD

Common

Sell Transaction

2

5.7100 USD

Common

Sell Transaction

400

5.7125 USD

Common

Sell Transaction

5,558

5.7172 USD

Common

Sell Transaction

22

5.7173 USD

Common

Sell Transaction

208

5.7175 USD

Common

Sell Transaction

337

5.7212 USD

Common

Sell Transaction

5,030

5.7216 USD

Common

Sell Transaction

3

5.7233 USD

Common

Sell Transaction

221

5.7254 USD

Common

Sell Transaction

189

5.7280 USD

Common

Sell Transaction

1,582

5.7329 USD

Common

Sell Transaction

513

5.7329 USD

Common

Sell Transaction

134

5.7329 USD

Common

Sell Transaction

926

5.7362 USD

Common

Sell Transaction

256

5.7386 USD

Common

Sell Transaction

2,429

5.7398 USD

Common

Sell Transaction

1,500

5.7473 USD

Common

Sell Transaction

200

5.7500 USD

Common

Sell Transaction

6

5.7567 USD

Common

Sell Transaction

701

5.7579 USD

Common

Sell Transaction

94

5.7587 USD

Common

Sell Transaction

173

5.7590 USD

Common

Sell Transaction

300

5.7600 USD

Common

Sell Transaction

200

5.7750 USD

Common

Sell Transaction

294

5.7757 USD

Common

Sell Transaction

456

5.7772 USD

Common

Sell Transaction

384

5.7862 USD

Common

Sell Transaction

912

5.7991 USD

Common

Sell Transaction

45,197

5.8000 USD

Common

Sell Transaction

148

5.8053 USD

Common

Sell Transaction

2,844

5.8100 USD

Common

Sell Transaction

831

5.8200 USD

Common

Sell Transaction

1,388

5.8205 USD

Common

Sell Transaction

200

5.8250 USD

Common

Sell Transaction

139

5.8251 USD

Common

Sell Transaction

3,003

5.8298 USD

Common

Sell Transaction

2

5.8300 USD

Common

Sell Transaction

300

5.8367 USD

Common

Sell Transaction

1

5.8400 USD

Common

Sell Transaction

300

5.8500 USD

Common

Sell Transaction

397

5.8700 USD

Common

Sell Transaction

1

5.8800 USD

Common

Sell Transaction

106

5.8908 USD

Common

Sell Transaction

2

5.9400 USD

Common

Sell Transaction

189

5.9500 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

Buy Transaction

20

7.0000 USD

American

2025-Apr-17

0.0500 USD

Common

Put Option

Buy Transaction

3

5.0000 USD

American

2025-Mar-21

0.1000 USD

Common

Call Option

Buy Transaction

5

6.0000 USD

American

2025-Mar-21

0.1500 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:

24 February 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

246,200

6.0 USD

 

American

 

18/07/2025

 

Common

Put Option

Purchased

-800

7.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Purchased

2,500

10.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Purchased

300

8.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Purchased

1,500

6.0 USD

 

American

 

17/04/2025

 

Common

Put Option

Purchased

-5,800

5.0 USD

 

American

 

21/03/2025

 

Common

Call Option

Purchased

900

5.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Purchased

-4,000

3.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Purchased

-4,000

4.0 USD

 

American

 

20/06/2025

 

Common

Put Option

Purchased

-800

5.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Purchased

2,300

7.0 USD

 

American

 

20/06/2025

 

Common

Put Option

Purchased

-3,900

4.0 USD

 

American

 

17/04/2025

 

Common

Call Option

Purchased

1,000

5.0 USD

 

American

 

21/03/2025

 

Common

Call Option

Purchased

100

4.0 USD

 

American

 

21/03/2025

 

Common

Put Option

Purchased

-104,200

6.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Purchased

600

10.0 USD

 

American

 

17/04/2025

 

Common

Put Option

Purchased

-200

5.0 USD

 

American

 

18/07/2025

 

Common

Put Option

Purchased

-100,000

7.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Purchased

700

10.0 USD

 

American

 

18/07/2025

 

Common

Put Option

Purchased

-8,400

5.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Purchased

-5,400

4.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Purchased

100

6.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Sold

-800

12.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Sold

75,400

7.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Sold

9,200

5.0 USD

 

American

 

17/04/2025

 

Common

Call Option

Sold

-8,600

8.0 USD

 

American

 

17/04/2025

 

Common

Call Option

Sold

-100,700

5.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Sold

-500

4.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-6,700

7.0 USD

 

American

 

21/03/2025

 

Common

Put Option

Sold

100

6.0 USD

 

American

 

21/03/2025

 

Common

Call Option

Sold

-14,100

6.0 USD

 

American

 

21/03/2025

 

Common

Call Option

Sold

-1,000

3.0 USD

 

American

 

16/01/2026

 

Common

Put Option

Sold

900

6.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Sold

-31,700

5.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Sold

-500

10.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Sold

-2,500

4.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Sold

-29,400

8.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Sold

-116,600

7.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-500

3.0 USD

 

American

 

17/07/2026

 

Common

Call Option

Sold

-13,900

5.0 USD

 

American

 

17/04/2025

 

Common

Put Option

Sold

200

7.0 USD

 

American

 

17/04/2025

 

Common

Put Option

Sold

7,600

6.0 USD

 

American

 

17/04/2025

 

Common

Put Option

Sold

99,900

8.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Sold

-2,700

4.0 USD

 

American

 

17/04/2025

 

Common

Put Option

Sold

100

4.0 USD

 

American

 

21/03/2025

 

Common

Call Option

Sold

-100

15.0 USD

 

American

 

16/01/2026

 

Common

Call Option

Sold

-400

4.0 USD

 

American

 

20/06/2025

 

Common

Call Option

Sold

-200

7.0 USD

 

American

 

18/07/2025

 

Common

Call Option

Sold

-12,700

7.0 USD

 

American

 

17/04/2025

 

Common

Call Option

Sold

-1,900

9.0 USD

 

American

 

17/04/2025

 

Common

Call Option

Sold

-1,600

5.0 USD

 

American

 

20/06/2025

 

 

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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