Form 8.5 EPT/Non RI DOWLAIS GROUP PLC -Replacement

FORM 8.5 Amendment - this form replaces RNS number 0459Q published at 16:33 on 07/07/2025, changes made to section 2A,3A

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS

(OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

1.

KEY INFORMATION

(a)

Name of exempt principal trader:

BARCLAYS CAPITAL SECURITIES LTD

(b)

Name of offeror/offeree in relation to whose relevant securities this form relates:

DOWLAIS GROUP PLC

(c)

Name of the party to the offer with which exempt principal trader is connected

DOWLAIS GROUP PLC

(d)

Date position held/dealing undertaken:

02 Jul 2025

(e)

In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to the offer?

YES: AMERICAN AXLE & MANUFACTURING HOLDINGS INC

2.

POSITIONS OF THE EXEMPT PRINCIPAL TRADER

(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:

1p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

53,504,324

4.06%

1,432,681

0.11%

(2) Cash-settled derivatives:

589,392

0.04%

52,171,785

3.96%

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

0

0.00%

0

0.00%

TOTAL: 

54,093,716

4.10%

53,604,466

4.07%

(b)

Rights to subscribe for new securities (including directors and other executive options)

Class of relevant security in relation to which subscription right exists

Details, including nature of the rights concerned and relevant percentages:

3.

DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

(a)

Purchase and sales

Class of relevant security

Purchase/sale

Total number of securities

Highest price per unit paid/received

Lowest price per unit paid/received

1p ordinary

Purchase

1346630

0.6915 GBP

0.6725 GBP

1p ordinary

Sale

610844

0.6915 GBP

0.6740 GBP

(b)

Cash-settled derivative transactions

Class of relevant security

Product description

Nature of dealing

Number of reference securities

Price per unit

1p ordinary

SWAP

Decreasing Short

3,012

0.6742 GBP

1p ordinary

SWAP

Decreasing Short

7,126

0.6774 GBP

1p ordinary

SWAP

Decreasing Short

21,356

0.6777 GBP

1p ordinary

SWAP

Decreasing Short

1,498

0.6779 GBP

1p ordinary

SWAP

Decreasing Short

10,876

0.6788 GBP

1p ordinary

SWAP

Decreasing Short

3,450

0.6789 GBP

1p ordinary

SWAP

Decreasing Short

38,220

0.6794 GBP

1p ordinary

SWAP

Decreasing Short

42,142

0.6826 GBP

1p ordinary

SWAP

Decreasing Short

83,274

0.6835 GBP

1p ordinary

SWAP

Decreasing Short

8,640

0.6836 GBP

1p ordinary

SWAP

Decreasing Short

30,282

0.6838 GBP

1p ordinary

SWAP

Decreasing Short

19,692

0.6854 GBP

1p ordinary

SWAP

Decreasing Short

1,607

0.6865 GBP

1p ordinary

SWAP

Decreasing Short

90,017

0.6866 GBP

1p ordinary

SWAP

Decreasing Short

535

0.6879 GBP

1p ordinary

SWAP

Decreasing Short

2,413

0.6894 GBP

1p ordinary

SWAP

Decreasing Short

6,887

0.6914 GBP

1p ordinary

SWAP

Decreasing Short

14,907

0.6915 GBP

1p ordinary

SWAP

Increasing Short

700

0.6734 GBP

1p ordinary

SWAP

Increasing Short

18,951

0.6735 GBP

1p ordinary

SWAP

Increasing Short

5,415

0.6737 GBP

1p ordinary

SWAP

Increasing Short

6

0.6754 GBP

1p ordinary

SWAP

Increasing Short

3,824

0.6755 GBP

1p ordinary

SWAP

Increasing Short

13

0.6771 GBP

1p ordinary

SWAP

Increasing Short

2,783

0.6780 GBP

1p ordinary

SWAP

Increasing Short

398,900

0.6792 GBP

1p ordinary

SWAP

Increasing Short

2,598

0.6802 GBP

1p ordinary

SWAP

Increasing Short

37,734

0.6803 GBP

1p ordinary

SWAP

Increasing Short

36,540

0.6806 GBP

1p ordinary

SWAP

Increasing Short

47,604

0.6837 GBP

1p ordinary

SWAP

Increasing Short

16,240

0.6840 GBP

1p ordinary

SWAP

Increasing Short

10,905

0.6863 GBP

1p ordinary

SWAP

Increasing Short

3,416

0.6875 GBP

1p ordinary

SWAP

Increasing Short

4,172

0.6910 GBP

1p ordinary

SWAP

Increasing Short

185,404

0.6915 GBP

1p ordinary

CFD

Decreasing Long

1

0.6700 GBP

1p ordinary

CFD

Decreasing Long

18,840

0.6853 GBP

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class of relevant security

Product description

Writing, purchasing, selling, varying etc

Number of securities to which option relates

Exercise price per unit

Type

Expiry date

Option money paid/ received per unit

(ii)

Exercising

Class of relevant security

Product description

Exercising/ exercised against

Number of securities

Exercise price per unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant security

Nature of Dealings

Details

Price per unit (if applicable)

4.

OTHER INFORMATION

(a)

Indemnity and other dealings 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 exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:

NONE

(b)

Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader 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 of future acquisition or disposal of any relevant securities to which any derivative is referenced:

NONE

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:

8-Jul-25

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213