Form 8.3

LONDON--(BUSINESS WIRE)-- 

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:	Qube Research & Technologies Limited
(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	AMG Critical Materials N.V.
(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	20-07-2026
(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”	N/A

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:	EUR 0.02 ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	0	0.00	0	0.00
(2) Cash-settled derivatives:	715,461	1.99	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	32,400	0.09	57,000	0.15
TOTAL:	747,861	2.08	57,000	0.15

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:	0
Details, including nature of the rights concerned and relevant percentages:	0

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 (GBp)

(b) Cash-settled derivative transactions

Class of relevant security	Product description e.g. call option	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of securities	Exercise price per unit (EUR)
EUR 0.02 ordinary	equity swap	decreasing a long position	437	27.92
EUR 0.02 ordinary	equity swap	decreasing a long position	4	28.01
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.02
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.03
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.08
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.09
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.09
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.09
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.10
EUR 0.02 ordinary	equity swap	decreasing a long position	4	28.10
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.11
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.27
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.32
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.33
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.34
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.35
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.35
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.36
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.36
EUR 0.02 ordinary	equity swap	decreasing a long position	4	28.37
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.37
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.38
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.39
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.40
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.40
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.40
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.40
EUR 0.02 ordinary	equity swap	decreasing a long position	4	28.41
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.41
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.41
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.41
EUR 0.02 ordinary	equity swap	decreasing a long position	6	28.41
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.41
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.42
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.42
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.42
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.42
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.42
EUR 0.02 ordinary	equity swap	decreasing a long position	4	28.43
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.44
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.44
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.45
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.45
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.45
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.45
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.45
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.46
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.46
EUR 0.02 ordinary	equity swap	decreasing a long position	5	28.46
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.46
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.47
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.47
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.47
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.47
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.47
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.47
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.47
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.48
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.48
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.49
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.49
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.49
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.50
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.50
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.51
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.51
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.52
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.53
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.53
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.54
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.54
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.55
EUR 0.02 ordinary	equity swap	decreasing a long position	277	28.56
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.59
EUR 0.02 ordinary	equity swap	decreasing a long position	1004	28.60
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.62
EUR 0.02 ordinary	equity swap	decreasing a long position	2	28.63
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.63
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.66
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.68
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.71
EUR 0.02 ordinary	equity swap	decreasing a long position	16	28.74
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.79
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.80
EUR 0.02 ordinary	equity swap	decreasing a long position	1	28.82
EUR 0.02 ordinary	equity swap	decreasing a long position	11	28.88
EUR 0.02 ordinary	equity swap	decreasing a long position	3	28.98
EUR 0.02 ordinary	equity swap	decreasing a long position	3	29.50
EUR 0.02 ordinary	equity swap	decreasing a long position	50	29.56
EUR 0.02 ordinary	equity swap	decreasing a short position	2174	27.92
EUR 0.02 ordinary	equity swap	decreasing a short position	803	28.12
EUR 0.02 ordinary	equity swap	decreasing a short position	2080	28.30
EUR 0.02 ordinary	equity swap	decreasing a short position	114	28.36
EUR 0.02 ordinary	equity swap	decreasing a short position	180	28.42
EUR 0.02 ordinary	equity swap	decreasing a short position	159	28.44
EUR 0.02 ordinary	equity swap	decreasing a short position	160	28.46
EUR 0.02 ordinary	equity swap	decreasing a short position	250	28.48
EUR 0.02 ordinary	equity swap	decreasing a short position	193	28.50
EUR 0.02 ordinary	equity swap	decreasing a short position	423	28.54
EUR 0.02 ordinary	equity swap	decreasing a short position	9	28.66
EUR 0.02 ordinary	equity swap	decreasing a short position	286	28.70
EUR 0.02 ordinary	equity swap	decreasing a short position	1505	28.92
EUR 0.02 ordinary	equity swap	decreasing a short position	408	28.96
EUR 0.02 ordinary	equity swap	decreasing a short position	199	29.06
EUR 0.02 ordinary	equity swap	decreasing a short position	53	29.10
EUR 0.02 ordinary	equity swap	decreasing a short position	229	29.12
EUR 0.02 ordinary	equity swap	decreasing a short position	175	29.16
EUR 0.02 ordinary	equity swap	decreasing a short position	195	29.38
EUR 0.02 ordinary	equity swap	increasing a long position	8824	27.92
EUR 0.02 ordinary	equity swap	increasing a long position	280	28.00
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.02
EUR 0.02 ordinary	equity swap	increasing a long position	2	28.03
EUR 0.02 ordinary	equity swap	increasing a long position	502	28.06
EUR 0.02 ordinary	equity swap	increasing a long position	226	28.08
EUR 0.02 ordinary	equity swap	increasing a long position	3	28.09
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.09
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.10
EUR 0.02 ordinary	equity swap	increasing a long position	596	28.10
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.11
EUR 0.02 ordinary	equity swap	increasing a long position	471	28.12
EUR 0.02 ordinary	equity swap	increasing a long position	433	28.30
EUR 0.02 ordinary	equity swap	increasing a long position	877	28.31
EUR 0.02 ordinary	equity swap	increasing a long position	542	28.32
EUR 0.02 ordinary	equity swap	increasing a long position	2537	28.34
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.35
EUR 0.02 ordinary	equity swap	increasing a long position	3116	28.36
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.36
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.37
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.37
EUR 0.02 ordinary	equity swap	increasing a long position	2	28.37
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.39
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.40
EUR 0.02 ordinary	equity swap	increasing a long position	1673	28.40
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.41
EUR 0.02 ordinary	equity swap	increasing a long position	878	28.41
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.41
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.41
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.41
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.42
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.42
EUR 0.02 ordinary	equity swap	increasing a long position	388	28.42
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.42
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.42
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.43
EUR 0.02 ordinary	equity swap	increasing a long position	2	28.43
EUR 0.02 ordinary	equity swap	increasing a long position	1662	28.44
EUR 0.02 ordinary	equity swap	increasing a long position	574	28.45
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.45
EUR 0.02 ordinary	equity swap	increasing a long position	1522	28.46
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.47
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.47
EUR 0.02 ordinary	equity swap	increasing a long position	2	28.47
EUR 0.02 ordinary	equity swap	increasing a long position	2	28.47
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.47
EUR 0.02 ordinary	equity swap	increasing a long position	999	28.48
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.48
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.50
EUR 0.02 ordinary	equity swap	increasing a long position	1095	28.50
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.51
EUR 0.02 ordinary	equity swap	increasing a long position	482	28.51
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.52
EUR 0.02 ordinary	equity swap	increasing a long position	1073	28.52
EUR 0.02 ordinary	equity swap	increasing a long position	911	28.54
EUR 0.02 ordinary	equity swap	increasing a long position	461	28.56
EUR 0.02 ordinary	equity swap	increasing a long position	1	28.57
EUR 0.02 ordinary	equity swap	increasing a long position	371	28.60
EUR 0.02 ordinary	equity swap	increasing a long position	111	28.62
EUR 0.02 ordinary	equity swap	increasing a long position	422	28.64
EUR 0.02 ordinary	equity swap	increasing a long position	111	28.66
EUR 0.02 ordinary	equity swap	increasing a long position	1587	28.70
EUR 0.02 ordinary	equity swap	increasing a long position	10	28.78
EUR 0.02 ordinary	equity swap	increasing a long position	1717	28.80
EUR 0.02 ordinary	equity swap	increasing a long position	439	28.82
EUR 0.02 ordinary	equity swap	increasing a long position	494	28.86
EUR 0.02 ordinary	equity swap	increasing a long position	112	28.89
EUR 0.02 ordinary	equity swap	increasing a long position	207	28.90
EUR 0.02 ordinary	equity swap	increasing a long position	181	28.92
EUR 0.02 ordinary	equity swap	increasing a long position	296	28.93
EUR 0.02 ordinary	equity swap	increasing a long position	420	28.94
EUR 0.02 ordinary	equity swap	increasing a long position	386	28.96
EUR 0.02 ordinary	equity swap	increasing a long position	511	28.97
EUR 0.02 ordinary	equity swap	increasing a long position	1390	28.98
EUR 0.02 ordinary	equity swap	increasing a long position	993	29.00
EUR 0.02 ordinary	equity swap	increasing a long position	1	29.00
EUR 0.02 ordinary	equity swap	increasing a long position	407	29.01
EUR 0.02 ordinary	equity swap	increasing a long position	1	29.01
EUR 0.02 ordinary	equity swap	increasing a long position	1	29.02
EUR 0.02 ordinary	equity swap	increasing a long position	2613	29.02
EUR 0.02 ordinary	equity swap	increasing a long position	1	29.03
EUR 0.02 ordinary	equity swap	increasing a long position	425	29.04
EUR 0.02 ordinary	equity swap	increasing a long position	1	29.04
EUR 0.02 ordinary	equity swap	increasing a long position	1	29.05
EUR 0.02 ordinary	equity swap	increasing a long position	491	29.06
EUR 0.02 ordinary	equity swap	increasing a long position	655	29.08
EUR 0.02 ordinary	equity swap	increasing a long position	681	29.10
EUR 0.02 ordinary	equity swap	increasing a long position	344	29.11
EUR 0.02 ordinary	equity swap	increasing a long position	501	29.12
EUR 0.02 ordinary	equity swap	increasing a long position	211	29.14
EUR 0.02 ordinary	equity swap	increasing a long position	318	29.16
EUR 0.02 ordinary	equity swap	increasing a short position	610	28.08
EUR 0.02 ordinary	equity swap	increasing a short position	1000	28.12
EUR 0.02 ordinary	equity swap	increasing a short position	1120	28.30
EUR 0.02 ordinary	equity swap	increasing a short position	211	28.32
EUR 0.02 ordinary	equity swap	increasing a short position	981	28.34
EUR 0.02 ordinary	equity swap	increasing a short position	90	28.36
EUR 0.02 ordinary	equity swap	increasing a short position	75	28.40
EUR 0.02 ordinary	equity swap	increasing a short position	50	28.42
EUR 0.02 ordinary	equity swap	increasing a short position	368	28.44
EUR 0.02 ordinary	equity swap	increasing a short position	3439	28.46
EUR 0.02 ordinary	equity swap	increasing a short position	1947	28.48
EUR 0.02 ordinary	equity swap	increasing a short position	2238	28.50
EUR 0.02 ordinary	equity swap	increasing a short position	101	28.54
EUR 0.02 ordinary	equity swap	increasing a short position	148	28.56
EUR 0.02 ordinary	equity swap	increasing a short position	350	28.64
EUR 0.02 ordinary	equity swap	increasing a short position	114	28.66
EUR 0.02 ordinary	equity swap	increasing a short position	347	28.78
EUR 0.02 ordinary	equity swap	increasing a short position	294	28.88
EUR 0.02 ordinary	equity swap	increasing a short position	232	28.94
EUR 0.02 ordinary	equity swap	increasing a short position	489	29.02
EUR 0.02 ordinary	equity swap	increasing a short position	410	29.04
EUR 0.02 ordinary	equity swap	increasing a short position	104	29.06
EUR 0.02 ordinary	equity swap	increasing a short position	12	29.10

(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 (CCY0)

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit (CCY0)

(ii) Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise price per unit
0	0	0	0	0

(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)
0	0	0	0

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:	21-07-2026
Contact name:	Janice Falcao
Telephone number:	00442033140679

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]. 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:	Qube Research & Technologies Limited
Name of offeror/offeree in relation to whose relevant securities the disclosure relates:	AMG Critical Materials N.V.

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
EUR 0.02 ordinary	Put Option	Purchased	16900	EUR 26	American	09/18/26
EUR 0.02 ordinary	Call Option	Purchased	19000	EUR 34	American	08/21/26
EUR 0.02 ordinary	Put Option	Purchased	6500	EUR 29	American	08/21/26
EUR 0.02 ordinary	Put Option	Purchased	2300	EUR 28	American	08/21/26
EUR 0.02 ordinary	Call Option	Purchased	300	EUR 31	American	09/18/26
EUR 0.02 ordinary	Call Option	Purchased	3000	EUR 36	American	09/18/26
EUR 0.02 ordinary	Call Option	Purchased	800	EUR 35	American	08/21/26
EUR 0.02 ordinary	Put Option	Purchased	21700	EUR 28	American	09/18/26
EUR 0.02 ordinary	Call Option	Purchased	5400	EUR 35	American	09/18/26
EUR 0.02 ordinary	Put Option	Purchased	1800	EUR 30	American	08/21/26
EUR 0.02 ordinary	Put Option	Purchased	3200	EUR 31	American	08/21/26
EUR 0.02 ordinary	Call Option	Purchased	100	EUR 37	American	09/18/26
EUR 0.02 ordinary	Call Option	Purchased	1300	EUR 33	American	08/21/26
EUR 0.02 ordinary	Call Option	Purchased	2200	EUR 34	American	09/18/26
EUR 0.02 ordinary	Put Option	Purchased	2400	EUR 31	American	09/18/26
EUR 0.02 ordinary	Call Option	Purchased	300	EUR 36	American	08/21/26
EUR 0.02 ordinary	Put Option	Purchased	300	EUR 27	American	08/21/26
EUR 0.02 ordinary	Put Option	Purchased	300	EUR 30	American	09/18/26
EUR 0.02 ordinary	Put Option	Purchased	1600	EUR 29	American	09/18/26

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 [phone].

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.