Form 8.3 - DOWLAIS GROUP PLC

Goldman Sachs & Co. LLC

03 February 2026

 

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:	GOLDMAN SACHS & CO. LLC
(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.
(c) Name of offeror/offeree in relation to whose relevant securities this form relates:      Use a separate form for each offeror/offeree	DOWLAIS GROUP PLC
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken:      For an opening position disclosure, state the latest practicable date prior to the disclosure	02 February 2026 In addition, Goldman Sachs & CO. LLC has dealt on previous dates during the offer period as attached at the end of this form.
(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 - disclosing today for DAUCH CORPORATION

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:	1p ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	0	0.00	0	0.00
(2) Cash-settled derivatives:	0	0.00	4	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	0	0.00	0	0.00
TOTAL:	0	0.00	4	0.00

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

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
1p ordinary	Purchase	9,627,258	0.9385 GBP
1p ordinary	Sale	9,627,258	0.9385 GBP

(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

(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?

NO

Date of disclosure:	03 February 2026
Contact name:	Papa Lette and Andrzej Szyszka
Telephone number*:	[phone] / [phone]

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 [phone].

*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.

(d)        Purchases and sales

Date	Class of relevant security	Purchase/sale	Number of securities	Price per unit
20 Mar 2025	1p ordinary	Purchase	5,773	0.6500 GBP
20 Mar 2025	1p ordinary	Sale	5,773	0.6500 GBP
21 Mar 2025	1p ordinary	Purchase	591	0.6500 GBP
21 Mar 2025	1p ordinary	Sale	591	0.6500 GBP
24 Apr 2025	1p ordinary	Purchase	21,625	0.5360 GBP
24 Apr 2025	1p ordinary	Sale	21,625	0.5360 GBP
29 Apr 2025	1p ordinary	Purchase	2,222	0.5723 GBP
29 Apr 2025	1p ordinary	Sale	2,222	0.5723 GBP
01 May 2025	1p ordinary	Purchase	258,610	0.5825 GBP
01 May 2025	1p ordinary	Sale	258,610	0.5825 GBP
02 May 2025	1p ordinary	Purchase	258,610	0.5996 GBP
02 May 2025	1p ordinary	Sale	258,610	0.5996 GBP
14 May 2025	1p ordinary	Purchase	176,220	0.6812 GBP
14 May 2025	1p ordinary	Sale	176,220	0.6812 GBP
15 May 2025	1p ordinary	Purchase	1,999	0.6717 GBP
15 May 2025	1p ordinary	Purchase	82,236	0.6722 GBP
15 May 2025	1p ordinary	Purchase	29,859	0.6725 GBP
15 May 2025	1p ordinary	Sale	1,999	0.6717 GBP
15 May 2025	1p ordinary	Sale	82,236	0.6722 GBP
15 May 2025	1p ordinary	Sale	29,859	0.6725 GBP
30 May 2025	1p ordinary	Purchase	291,700	0.6655 GBP
30 May 2025	1p ordinary	Sale	291,700	0.6655 GBP
16 Jun 2025	1p ordinary	Purchase	65,330	0.6741 GBP
16 Jun 2025	1p ordinary	Sale	65,330	0.6741 GBP
01 Aug 2025	1p ordinary	Purchase	263,617	0.6964 GBP
01 Aug 2025	1p ordinary	Sale	263,617	0.6964 GBP
26 Aug 2025	1p ordinary	Purchase	17,819	0.7855 GBP
26 Aug 2025	1p ordinary	Sale	17,819	0.7855 GBP
29 Aug 2025	1p ordinary	Purchase	23,889	0.7785 GBP
29 Aug 2025	1p ordinary	Sale	23,889	0.7785 GBP
03 Sep 2025	1p ordinary	Purchase	10,000	0.7900 GBP
03 Sep 2025	1p ordinary	Sale	10,000	0.7900 GBP
19 Sep 2025	1p ordinary	Purchase	3,677	0.8205 GBP
19 Sep 2025	1p ordinary	Sale	3,677	0.8205 GBP
25 Sep 2025	1p ordinary	Purchase	41,467	0.8050 GBP
25 Sep 2025	1p ordinary	Sale	41,467	0.8050 GBP
30 Sep 2025	1p ordinary	Purchase	22,891	0.7990 GBP
30 Sep 2025	1p ordinary	Sale	22,891	0.7990 GBP
06 Oct 2025	1p ordinary	Purchase	408	0.8150 GBP
06 Oct 2025	1p ordinary	Sale	408	0.8150 GBP
13 Oct 2025	1p ordinary	Purchase	13,142	0.7635 GBP
13 Oct 2025	1p ordinary	Sale	13,142	0.7635 GBP
17 Nov 2025	1p ordinary	Purchase	3	0.8185 GBP
17 Nov 2025	1p ordinary	Sale	3	0.8185 GBP
19 Nov 2025	1p ordinary	Purchase	39,443	0.8225 GBP
19 Nov 2025	1p ordinary	Sale	39,443	0.8225 GBP
24 Nov 2025	1p ordinary	Purchase	232,459	0.8270 GBP
24 Nov 2025	1p ordinary	Sale	232,459	0.8270 GBP
25 Nov 2025	1p ordinary	Purchase	7	0.8334 GBP
25 Nov 2025	1p ordinary	Sale	7	0.8334 GBP
19 Dec 2025	1p ordinary	Purchase	455	0.8660 GBP
19 Dec 2025	1p ordinary	Sale	455	0.8660 GBP
19 Jan 2026	1p ordinary	Purchase	1	0.9250 GBP
19 Jan 2026	1p ordinary	Sale	1	0.9250 GBP
26 Jan 2026	1p ordinary	Purchase	550,000	0.9576 GBP
26 Jan 2026	1p ordinary	Sale	550,000	0.9576 GBP

(b)        Cash-settled derivative transactions

Date	Class of relevant security	Product description	Nature of dealing	Number of reference securities	Price per unit
13 Mar 2025	1p ordinary	SWAP	Reducing a short position	53691	0.8552 USD
13 Mar 2025	1p ordinary	SWAP	Opening a short position	53691	0.8552 USD
23 Apr 2025	1p ordinary	SWAP	Increasing a short position	25590	0.6788 USD
21 May 2025	1p ordinary	SWAP	Increasing a short position	9928	0.8981 USD
29 May 2025	1p ordinary	SWAP	Increasing a short position	24993	0.8851 USD
11 Jun 2025	1p ordinary	SWAP	Opening a short position	75210	0.9062 USD
11 Jun 2025	1p ordinary	SWAP	Reducing a short position	75210	0.9062 USD
11 Jun 2025	1p ordinary	SWAP	Reducing a short position	14513	0.9081 USD
20 Jun 2025	1p ordinary	SWAP	Increasing a short position	9442	0.9045 USD
05 Aug 2025	1p ordinary	SWAP	Increasing a short position	4393	0.9296 USD
27 Aug 2025	1p ordinary	SWAP	Reducing a short position	18849	1.0519 USD
09 Sep 2025	1p ordinary	SWAP	Reducing a short position	55683	1.0828 USD
09 Sep 2025	1p ordinary	SWAP	Opening a short position	55683	1.0828 USD
12 Sep 2025	1p ordinary	SWAP	Reducing a short position	17046	1.0800 USD
15 Sep 2025	1p ordinary	SWAP	Reducing a short position	10468	1.0787 USD
16 Sep 2025	1p ordinary	SWAP	Reducing a short position	10384	1.0961 USD
18 Sep 2025	1p ordinary	SWAP	Reducing a short position	8487	1.1077 USD
02 Oct 2025	1p ordinary	SWAP	Increasing a short position	5814	1.0692 USD
14 Nov 2025	1p ordinary	SWAP	Increasing a short position	30759	1.0800 USD
01 Dec 2025	1p ordinary	SWAP	Reducing a short position	9498	1.1225 USD
04 Dec 2025	1p ordinary	SWAP	Reducing a short position	36369	1.1262 USD
05 Dec 2025	1p ordinary	SWAP	Opening a short position	4	1.1240 USD
05 Dec 2025	1p ordinary	SWAP	Reducing a short position	4	1.1240 USD
08 Jan 2026	1p ordinary	SWAP	Increasing a short position	1242	1.1650 USD
09 Jan 2026	1p ordinary	SWAP	Increasing a short position	1223	1.2181 USD
16 Jan 2026	1p ordinary	SWAP	Reducing a short position	2465	1.2699 USD

 

END