Man Group discloses 1.1% DCC short via CFD positions

Man Group disclosed a net short position of 1.1% in DCC Plc through contracts for difference, according to a Form 8.3 filing with the Irish Takeover Panel. The filing, dated March 27, covers the asset manager's dealings in DCC's ordinary shares.

The disclosure shows Man Group held 1,091,605 short CFD positions as of the dealing date, representing 1.10% of DCC's issued share capital. The firm also reported 1,091,605 long CFD positions, creating a matched book structure that offsets directional exposure.

Man Group's dealing activity included 2,000 long CFD contracts opened at an average price of 5,511.5 pence per share. The firm closed 1,000 short CFD positions at 5,512.0 pence. No stock-settled derivatives, options, or rights to subscribe for new securities were reported.

The filing is a standard regulatory requirement under Rule 8.3 of the Irish Takeover Rules for any person with interests in relevant securities representing 1% or more of the offeree company. DCC, the Irish sales, marketing, and support services group, is the subject of the disclosure.

Man Group's matched long and short CFD positions suggest the firm is acting as a market maker or liquidity provider in DCC shares rather than taking a directional bet. The 2,000 long CFD contracts opened and the 1,000 short CFD contracts closed on the dealing date represent routine hedging activity, not a change in fundamental view.

No other agreements, arrangements, or understandings regarding DCC shares were disclosed. The filing confirms no indemnity or option arrangements exist between Man Group and any other party in relation to the stock.