Form 8.5 EPT/Non RI DOWLAIS GROUP PLC

Barclays PLC

25 September 2025

 

FORM 8.5 (EPT/NON-RI)
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				DOWLAIS GROUP PLC
	relevant securities this form relates:
(c)	Name of the party to the offer with which exempt				DOWLAIS GROUP PLC
	principal trader is connected
(d)	Date position held/dealing undertaken:				24 Sep 2025
(e)	In addition to the company in 1(b) above, is the exempt principal				YES:
	trader making disclosures in respect of any other party to the offer?				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:			83,263,097	6.32%	2,032,071	0.15%
(2)	Cash-settled derivatives:
	and/or controlled:			1,515,374	0.12%	83,303,951	6.33%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:			0	0.00%	0	0.00%
	TOTAL:			84,778,471	6.44%	85,336,022	6.48%
(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)	Purchases and sales
Class of relevant		Purchase/sale		Total number of		Highest price per unit	Lowest price per unit
security				securities		paid/received	paid/received
1p ordinary		Purchase		515,288		0.8060  GBP	0.7862  GBP
1p ordinary		Sale		714,207		0.8060  GBP	0.7855  GBP
(b)	Cash-settled derivative transactions
Class of		Product		Nature of dealing		Number of	Price per
relevant		description				reference	unit
security						securities
1p ordinary		SWAP		Decreasing Short		2,909	0.7855  GBP
1p ordinary		SWAP		Decreasing Short		4,891	0.7904  GBP
1p ordinary		SWAP		Decreasing Short		1	0.7909  GBP
1p ordinary		SWAP		Decreasing Short		59,956	0.7920  GBP
1p ordinary		SWAP		Decreasing Short		1,139	0.7924  GBP
1p ordinary		SWAP		Decreasing Short		272,898	0.7950  GBP
1p ordinary		SWAP		Decreasing Short		11	0.7969  GBP
1p ordinary		SWAP		Decreasing Short		2,071	0.7975  GBP
1p ordinary		SWAP		Decreasing Short		11,544	0.7984  GBP
1p ordinary		SWAP		Decreasing Short		72,484	0.7985  GBP
1p ordinary		SWAP		Decreasing Short		44,616	0.7992  GBP
1p ordinary		SWAP		Decreasing Short		3	0.7993  GBP
1p ordinary		SWAP		Decreasing Short		3	0.8001  GBP
1p ordinary		SWAP		Decreasing Short		8,713	0.8013  GBP
1p ordinary		SWAP		Decreasing Short		12,690	0.8014  GBP
1p ordinary		SWAP		Decreasing Short		24,302	0.8019  GBP
1p ordinary		SWAP		Decreasing Short		12	0.8039  GBP
1p ordinary		SWAP		Decreasing Short		580	0.8049  GBP
1p ordinary		SWAP		Increasing Short		144	0.7910  GBP
1p ordinary		SWAP		Increasing Short		9,320	0.7936  GBP
1p ordinary		SWAP		Increasing Short		100,000	0.7955  GBP
1p ordinary		SWAP		Increasing Short		29,938	0.7975  GBP
1p ordinary		SWAP		Increasing Short		22,854	0.7985  GBP
1p ordinary		SWAP		Increasing Short		19,661	0.7988  GBP
1p ordinary		SWAP		Increasing Short		8,581	0.8016  GBP
1p ordinary		SWAP		Increasing Short		4,997	0.8022  GBP
1p ordinary		SWAP		Increasing Short		31,771	0.8024  GBP
1p ordinary		SWAP		Increasing Short		58,608	0.8029  GBP
1p ordinary		SWAP		Increasing Short		5,432	0.8039  GBP
1p ordinary		SWAP		Increasing Short		7,246	0.8050  GBP
1p ordinary		CFD		Increasing Long		909	0.7902  GBP
1p ordinary		CFD		Increasing Long		8,171	0.7950  GBP
1p ordinary		CFD		Decreasing Long		1,834	0.7862  GBP
1p ordinary		CFD		Decreasing Long		585	0.7865  GBP
1p ordinary		CFD		Decreasing Long		1,225	0.7866  GBP
1p ordinary		CFD		Decreasing Long		2,808	0.7868  GBP
1p ordinary		CFD		Decreasing Long		538	0.7894  GBP
1p ordinary		CFD		Decreasing Long		336	0.7910  GBP
1p ordinary		CFD		Decreasing Long		123	0.7937  GBP
1p ordinary		CFD		Decreasing Long		130	0.7938  GBP
1p ordinary		CFD		Decreasing Long		1,501	0.7943  GBP
1p ordinary		CFD		Decreasing Long		20,920	0.7985  GBP
1p ordinary		CFD		Decreasing Long		18,308	0.7995  GBP
1p ordinary		CFD		Decreasing Long		23,465	0.7998  GBP
1p ordinary		CFD		Decreasing Long		29	0.8024  GBP
(c)	Stock-settled derivative transactions (including options)
(i)	Writing, selling, purchasing or varying
Class	Product	Writing,	Number	Exercise	Type	Expiry	Option
of	description	purchasing,	of	price		date	money
relevant		selling,	securities	per unit			paid/
security		varying etc	to which				received
			option				per unit
			relates
(ii)	Exercising
Class of relevant		Product description		Exercising/ exercised against		Number of	Exercise price per
security						securities	unit
(d)	Other dealings (including subscribing for new securities)
Class of relevant		Nature of Dealings		Details		Price per unit (if
security						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:				25 Sep 2025
Contact name:				Large Holdings Regulatory Operations
Telephone number:				020 3134 7213

 

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