TIDMPDG 
 
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     Newtyn Management, LLC 
of discloser: 
(b) Owner or      Funds for which Newtyn 
controller of     Management, LLC is the 
interests and     investment manager 
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       Pendragon plc 
offeror/offeree 
in relation to 
whose relevant 
securities this 
form 
relates: 
Use a separate 
form for each 
offeror/offeree 
(d) If an 
exempt fund 
manager 
connected with 
an 
offeror/offeree, 
state this and 
specify 
identity of 
offeror/offeree: 
 
(e) Date          October 17, 2023 
position 
held/dealing 
undertaken: 
For an opening 
position 
disclosure, 
state the 
latest 
practicable 
date prior to 
the disclosure 
(f)  In           No 
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" 
 
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:                           5p ordinary 
                                               Interests      Short positions 
                                             Number      %    Number     % 
(1) Relevant securities owned and/or       39,135,591  2.80% 
controlled: 
(2) Cash-settled derivatives: 
(3) Stock-settled derivatives (including 
options) and agreements to purchase/sell: 
     TOTAL:                                39,135,591  2.80% 
 
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 
5p ordinary                 Purchase       19,940                GBP 0.3373 
 
(b)        Cash-settled derivative transactions 
 
Class of      Product       Nature of    Number of   Price per unit 
relevant  descriptione.g.  dealinge.g.   reference 
security        CFD        opening/clos  securities 
                              ing a 
                            long/short 
                            position, 
                           increasing/r 
                            educing a 
                            long/short 
                             position 
 
(c)        Stock-settled derivative transactions (including options) 
 
(i)         Writing, selling, purchasing or varying 
 
Class of    Product     Writing,    Number of   Exercise  Typee.g.   Expiry 
Option 
relevant  description  purchasing,  securities   price    American,   date 
money 
security     e.g.       selling,     to which     per     European 
paid/ 
          call option    varying      option      unit      etc. 
received 
                          etc.       relates                                 per 
unit 
 
(ii)        Exercise 
 
Class of      Product      Exercising/  Number of   Exercise 
relevant  descriptione.g.   exercised   securities  price per 
security    call option      against                  unit 
 
(d)        Other dealings (including subscribing for new securities) 
 
Class of  Nature of dealinge.g.  Details  Price per unit 
relevant      subscription,               (if applicable) 
security       conversion 
 
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:  October 18, 2023 
Contact name:        Nazim Ally 
Telephone number*:   212-446-2460 
 
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 +44 (0)20 7638 0129. 
 
*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. 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END 
 
 

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