Form 8.5 (EPT/NON-RI) - Dowlais Group Replacement

FORM 8.5 (EPT/NON-RI) - Amendment - this form replaces RNS number 6928Z published at 14:18 on 06/03/2025, changes made to section 2a and 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:

05 Mar 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:

30,419,963

2.26%

6,958,765

0.52%

(2) Cash-settled derivatives:

4,141,187

0.31%

28,318,467

2.11%

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

0

0.00%

0

0.00%

TOTAL: 

34,561,150

2.57%

35,277,232

2.62%

(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

2280465

0.6970 GBP

0.6656 GBP

1p ordinary

Sale

1663733

0.6970 GBP

0.6659 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

5,965

0.6643 GBP

1p ordinary

SWAP

Decreasing Short

5,811

0.6659 GBP

1p ordinary

SWAP

Decreasing Short

23,559

0.6734 GBP

1p ordinary

SWAP

Decreasing Short

800

0.6770 GBP

1p ordinary

SWAP

Decreasing Short

3,531

0.6798 GBP

1p ordinary

SWAP

Decreasing Short

284,179

0.6841 GBP

1p ordinary

SWAP

Decreasing Short

901

0.6859 GBP

1p ordinary

SWAP

Decreasing Short

3,486

0.6875 GBP

1p ordinary

SWAP

Decreasing Short

1,112

0.6877 GBP

1p ordinary

SWAP

Decreasing Short

565,000

0.6886 GBP

1p ordinary

SWAP

Decreasing Short

332,700

0.6929 GBP

1p ordinary

SWAP

Decreasing Short

73,548

0.6930 GBP

1p ordinary

SWAP

Increasing Short

588,015

0.6620 GBP

1p ordinary

SWAP

Increasing Short

2,044

0.6690 GBP

1p ordinary

SWAP

Increasing Short

85,112

0.6700 GBP

1p ordinary

SWAP

Increasing Short

2

0.6750 GBP

1p ordinary

SWAP

Increasing Short

141,420

0.6771 GBP

1p ordinary

SWAP

Increasing Short

212,235

0.6799 GBP

1p ordinary

SWAP

Increasing Short

80,584

0.6805 GBP

1p ordinary

SWAP

Increasing Short

3,765

0.6815 GBP

1p ordinary

SWAP

Increasing Short

94,363

0.6843 GBP

1p ordinary

SWAP

Increasing Short

477,732

0.6860 GBP

1p ordinary

SWAP

Increasing Short

286,501

0.6868 GBP

1p ordinary

SWAP

Increasing Short

54,458

0.6875 GBP

1p ordinary

SWAP

Increasing Short

2,215

0.6890 GBP

1p ordinary

SWAP

Increasing Short

48,874

0.6896 GBP

1p ordinary

SWAP

Increasing Short

48,054

0.6900 GBP

1p ordinary

SWAP

Increasing Short

72,371

0.6911 GBP

1p ordinary

SWAP

Increasing Short

1,481

0.6922 GBP

1p ordinary

SWAP

Increasing Short

11,839

0.6930 GBP

1p ordinary

CFD

Decreasing Short

18,882

0.6930 GBP

1p ordinary

CFD

Increasing Short

23,256

0.6905 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:

10 Mar 2025

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213