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FORM 8.3
IRISH TAKEOVER PANEL
OPENING POSITION DISCLOSURE/DEALING DISCLOSURE UNDER RULE 8.3 OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER
RULES, 2022 BY PERSONS WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
1. KEY INFORMATION
(a) Full name of discloser Citadel Group | (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. N/A | (c) Name of offeror/offeree in relation to whose relevant securities this form relates Use a separate form for each offeror/offeree FORWARD INDUSTRIES INC | (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree (Note 1) N/A | (e) Date position held/dealing undertaken For an opening position disclosure, state the latest practicable date prior to the disclosure 6 July 2026 | (f) In addition to the company in 1(c) above, is the discloser also 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 BRERA HOLDINGS PLC |
2. INTERESTS AND SHORT POSITIONS
If there are interests and short positions to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2 for each additional class of relevant security.
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Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)
(Note 2)
Class of relevant security (Note 3) ISIN US3499321038 $0.01 ordinary shares | Interests Short positions | Number % Number % | (1) Relevant securities owned and/or controlled 797,784 1.06 105,018 0.14 | (2) Cash-settled derivatives 0 0.00 0 0.00 | (3) Stock-settled derivatives (including options) and agreements to purchase/ sell 157,700 0.21 52,400 0.07 | Total 955,484 1.27 157,418 0.21 |
All interests and all short positions should be disclosed.
Details of options including rights to subscribe for new securities and 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.
3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE (Note 4)
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 (Note 5) | Common Buy Transaction 630 4.6100 USD | Common Buy Transaction 2 4.6300 USD | Common Buy Transaction 1 4.6400 USD | Common Buy Transaction 167 4.6493 USD | Common Buy Transaction 100 4.6500 USD | Common Buy Transaction 4,901 4.6600 USD | Common Buy Transaction 200 4.6601 USD | Common Buy Transaction 50 4.6650 USD | Common Buy Transaction 12,326 4.6672 USD | Common Buy Transaction 75 4.6833 USD | Common Buy Transaction 111 4.6964 USD | Common Buy Transaction 515 4.7000 USD | Common Buy Transaction 300 4.7022 USD | Common Buy Transaction 50 4.7050 USD | Common Buy Transaction 327 4.7100 USD | Common Buy Transaction 11 4.7209 USD | Common Buy Transaction 1,015 4.7259 USD | Common Buy Transaction 500 4.7301 USD | Common Buy Transaction 5,433 4.7318 USD | Common Buy Transaction 200 4.7425 USD | Common Buy Transaction 316 4.7472 USD | Common Buy Transaction 801 4.7500 USD | Common Buy Transaction 67 4.7509 USD | Common Buy Transaction 1,302 4.7600 USD | Common Buy Transaction 524 4.7631 USD | Common Buy Transaction 3,021 4.7684 USD | Common Buy Transaction 2,988 4.7698 USD | Common Buy Transaction 773 4.7699 USD | Common Buy Transaction 417 4.7700 USD | Common Buy Transaction 1,007 4.7724 USD | Common Buy Transaction 2,614 4.7764 USD | Common Buy Transaction 1,129 4.7767 USD | Common Buy Transaction 358 4.7784 USD | Common Buy Transaction 1 4.7800 USD | Common Buy Transaction 1,670 4.7814 USD | Common Buy Transaction 1,081 4.7868 USD | Common Buy Transaction 8,469 4.7874 USD | Common Buy Transaction 2,340 4.7894 USD | Common Buy Transaction 23 4.7900 USD | Common Buy Transaction 2,230 4.7908 USD | Common Buy Transaction 1,200 4.7908 USD | Common Buy Transaction 56 4.7929 USD | Common Buy Transaction 1,062 4.7947 USD | Common Buy Transaction 2 4.7950 USD | Common Buy Transaction 700 4.7986 USD | Common Buy Transaction 388 4.8001 USD | Common Buy Transaction 2,150 4.8005 USD | Common Buy Transaction 1,829 4.8012 USD | Common Buy Transaction 900 4.8028 USD | Common Buy Transaction 30 4.8077 USD | Common Buy Transaction 730 4.8100 USD | Common Buy Transaction 314 4.8106 USD | Common Buy Transaction 91 4.8116 USD | Common Buy Transaction 900 4.8122 USD | Common Buy Transaction 151 4.8152 USD | Common Buy Transaction 1,181 4.8152 USD | Common Buy Transaction 820 4.8166 USD | Common Buy Transaction 67 4.8178 USD | Common Buy Transaction 1,926 4.8190 USD | Common Buy Transaction 6,746 4.8194 USD | Common Buy Transaction 17,276 4.8200 USD | Common Buy Transaction 10,000 4.8201 USD | Common Buy Transaction 440 4.8250 USD | Common Buy Transaction 9,213 4.8255 USD | Common Buy Transaction 5,622 4.8263 USD | Common Buy Transaction 300 4.8267 USD | Common Buy Transaction 265 4.8285 USD | Common Buy Transaction 101 4.8295 USD | Common Buy Transaction 411 4.8300 USD | Common Buy Transaction 1,022 4.8323 USD | Common Buy Transaction 8,500 4.8323 USD | Common Buy Transaction 300 4.8367 USD | Common Buy Transaction 500 4.8380 USD | Common Buy Transaction 2,260 4.8397 USD | Common Buy Transaction 100 4.8400 USD | Common Buy Transaction 831 4.8401 USD | Common Buy Transaction 800 4.8425 USD | Common Buy Transaction 353 4.8452 USD | Common Buy Transaction 205 4.8468 USD | Common Buy Transaction 430 4.8470 USD | Common Buy Transaction 5 4.8500 USD | Common Buy Transaction 2,635 4.8501 USD | Common Buy Transaction 7,365 4.8501 USD | Common Buy Transaction 304 4.8530 USD | Common Buy Transaction 526 4.8544 USD | Common Buy Transaction 403 4.8544 USD | Common Buy Transaction 540 4.8552 USD | Common Buy Transaction 2,665 4.8576 USD | Common Buy Transaction 130 4.8578 USD | Common Buy Transaction 2,490 4.8580 USD | Common Buy Transaction 10 4.8580 USD | Common Buy Transaction 440 4.8582 USD | Common Buy Transaction 1,010 4.8582 USD | Common Buy Transaction 1,655 4.8594 USD | Common Buy Transaction 190 4.8596 USD | Common Buy Transaction 300 4.8633 USD | Common Buy Transaction 3,798 4.8665 USD | Common Buy Transaction 531 4.8681 USD | Common Buy Transaction 393 4.8700 USD | Common Buy Transaction 459 4.8727 USD | Common Buy Transaction 954 4.8775 USD | Common Buy Transaction 469 4.8800 USD | Common Buy Transaction 366 4.8831 USD | Common Buy Transaction 2 4.8850 USD | Common Buy Transaction 890 4.8890 USD | Common Buy Transaction 275 4.8896 USD | Common Buy Transaction 415 4.8900 USD | Common Buy Transaction 229 4.8932 USD | Common Buy Transaction 2 4.8950 USD | Common Buy Transaction 589 4.8962 USD | Common Buy Transaction 3 4.8967 USD | Common Buy Transaction 2,024 4.9000 USD | Common Buy Transaction 9 4.9011 USD | Common Buy Transaction 301 4.9029 USD | Common Buy Transaction 16 4.9100 USD | Common Buy Transaction 135 4.9200 USD | Common Sell Transaction 468 4.8200 USD | Common Sell Transaction 69 4.6400 USD | Common Sell Transaction 25 4.6500 USD | Common Sell Transaction 2 4.6550 USD | Common Sell Transaction 6,519 4.6600 USD | Common Sell Transaction 4,619 4.6700 USD | Common Sell Transaction 2,942 4.6800 USD | Common Sell Transaction 515 4.6841 USD | Common Sell Transaction 60 4.6967 USD | Common Sell Transaction 400 4.6992 USD | Common Sell Transaction 8,093 4.7000 USD | Common Sell Transaction 1,824 4.7004 USD | Common Sell Transaction 1,195 4.7009 USD | Common Sell Transaction 900 4.7083 USD | Common Sell Transaction 529 4.7100 USD | Common Sell Transaction 162 4.7117 USD | Common Sell Transaction 1,100 4.7118 USD | Common Sell Transaction 71 4.7210 USD | Common Sell Transaction 7,929 4.7210 USD | Common Sell Transaction 280 4.7239 USD | Common Sell Transaction 1,015 4.7259 USD | Common Sell Transaction 203 4.7290 USD | Common Sell Transaction 3,912 4.7297 USD | Common Sell Transaction 400 4.7375 USD | Common Sell Transaction 611 4.7400 USD | Common Sell Transaction 18 4.7456 USD | Common Sell Transaction 340 4.7466 USD | Common Sell Transaction 300 4.7467 USD | Common Sell Transaction 6,358 4.7481 USD | Common Sell Transaction 600 4.7500 USD | Common Sell Transaction 67 4.7509 USD | Common Sell Transaction 300 4.7555 USD | Common Sell Transaction 201 4.7603 USD | Common Sell Transaction 600 4.7700 USD | Common Sell Transaction 6,326 4.7800 USD | Common Sell Transaction 2,027 4.7884 USD | Common Sell Transaction 2,400 4.7885 USD | Common Sell Transaction 100 4.7886 USD | Common Sell Transaction 49 4.7924 USD | Common Sell Transaction 1,697 4.7933 USD | Common Sell Transaction 1,619 4.7946 USD | Common Sell Transaction 1,426 4.7957 USD | Common Sell Transaction 1,179 4.7984 USD | Common Sell Transaction 102 4.8000 USD | Common Sell Transaction 1,278 4.8081 USD | Common Sell Transaction 9,422 4.8100 USD | Common Sell Transaction 15,135 4.8200 USD | Common Sell Transaction 2,556 4.8205 USD | Common Sell Transaction 1,100 4.8218 USD | Common Sell Transaction 400 4.8225 USD | Common Sell Transaction 658 4.8241 USD | Common Sell Transaction 3,082 4.8256 USD | Common Sell Transaction 2,500 4.8272 USD | Common Sell Transaction 130 4.8277 USD | Common Sell Transaction 613 4.8300 USD | Common Sell Transaction 1,492 4.8320 USD | Common Sell Transaction 26 4.8385 USD | Common Sell Transaction 1,120 4.8400 USD | Common Sell Transaction 11,420 4.8421 USD | Common Sell Transaction 1,996 4.8460 USD | Common Sell Transaction 19 4.8463 USD | Common Sell Transaction 1,285 4.8467 USD | Common Sell Transaction 5,167 4.8516 USD | Common Sell Transaction 7,653 4.8538 USD | Common Sell Transaction 4,341 4.8561 USD | Common Sell Transaction 1,001 4.8600 USD | Common Sell Transaction 2,993 4.8621 USD | Common Sell Transaction 3 4.8633 USD | Common Sell Transaction 62 4.8682 USD | Common Sell Transaction 17 4.8688 USD | Common Sell Transaction 1 4.8700 USD | Common Sell Transaction 4,609 4.8706 USD | Common Sell Transaction 905 4.8713 USD | Common Sell Transaction 19 4.8753 USD | Common Sell Transaction 27 4.8800 USD | Common Sell Transaction 1,000 4.8840 USD | Common Sell Transaction 2,205 4.8850 USD | Common Sell Transaction 65 4.8857 USD | Common Sell Transaction 17 4.8888 USD | Common Sell Transaction 1,520 4.8950 USD | Common Sell Transaction 77 4.9000 USD | Common Sell Transaction 6 4.9100 USD | Common Sell Transaction 272 4.9200 USD | Common Sell Transaction 3,845 4.9284 USD | Common Sell Transaction 200 4.9325 USD | Common Sell Transaction 100 4.9350 USD | Common Sell Transaction 300 4.9800 USD |
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(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
(Note 6)
Price
per unit
(Note 5)
(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 (Note 6) Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit | Common Call Option Buy Transaction 4,000 5.0000 USD American 2026-08-21 0.6000 USD | Common Put Option Buy Transaction 1,500 5.0000 USD American 2026-08-21 0.8000 USD | Common Call Option Buy Transaction 100 5.0000 USD American 2026-12-18 1.1000 USD | Common Call Option Buy Transaction 100 2.5000 USD American 2026-07-17 2.4500 USD | Common Call Option Sell Transaction 200 7.5000 USD American 2026-08-21 0.3000 USD | Common Call Option Sell Transaction 100 5.0000 USD American 2026-07-17 0.3000 USD | Common Call Option Sell Transaction 500 5.0000 USD American 2026-07-17 0.3400 USD | Common Call Option Sell Transaction 100 5.0000 USD American 2026-07-17 0.4500 USD | Common Call Option Sell Transaction 100 5.0000 USD American 2026-12-18 1.3000 USD |
(ii) Exercise
Class of
relevant
security
Product
description
e.g. call
option
Exercising/
exercised
against
Number of
securities
Exercise
price per
unit
(Note 5)
(d) Other dealings (including transactions in respect of new securities) (Note 3)
Class of
relevant
security
Nature of dealing
e.g. subscription,
conversion, exercise
Details
Price per unit (if
applicable)
(Note 5)
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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
Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated.
None
(c) Attachments
Is a Supplemental Form 8 attached?
YES
Date of disclosure 7 July 2026 | Contact name Paula Santos | Telephone number 020 7645 9700 |
Public disclosures under Rule 8.3 of the Rules must be made to a Regulatory Information Service.
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SUPPLEMENTAL FORM 8
IRISH TAKEOVER PANEL
DISCLOSURE UNDER RULE 8.1, RULE 8.3, RULE 38.5(b) AND
RULE 38.6 OF THE IRISH TAKEOVER PANEL ACT, 1997,
TAKEOVER RULES, 2022
DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING
OPTION) POSITIONS, AGREEMENTS TO PURCHASE OR SELL AND
RIGHTS TO SUBSCRIBE FOR NEW SECURITIES
1. KEY INFORMATION
Full name of person making disclosure: Citadel Group | Name of offeror/offeree in relation to whose relevant securities the disclosure relates: FORWARD INDUSTRIES INC |
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 | Common Put Option Purchased -2,700 5.0 USD American 21/08/2026 | Common Put Option Purchased -7,600 5.0 USD American 17/07/2026 | Common Call Option Purchased 800 5.0 USD American 17/07/2026 | Common Put Option Purchased -100 2.5 USD American 21/08/2026 | Common Call Option Purchased 21,200 10.0 USD American 20/11/2026 | Common Put Option Purchased -300 10.0 USD American 18/12/2026 | Common Put Option Purchased -900 2.5 USD American 18/12/2026 | Common Put Option Purchased -2,500 7.5 USD American 18/12/2026 | Common Call Option Purchased 44,000 10.0 USD American 18/12/2026 | Common Put Option Purchased -100 10.0 USD American 21/08/2026 | Common Put Option Purchased -2,300 5.0 USD American 20/11/2026 | Common Call Option Purchased 100 2.5 USD American 17/07/2026 | Common Put Option Purchased -800 7.5 USD American 21/08/2026 | Common Call Option Purchased 50,800 20.0 USD American 21/08/2026 | Common Put Option Purchased -300 7.5 USD American 19/02/2027 | Common Call Option Purchased 200 17.5 USD American 18/12/2026 | Common Call Option Purchased 1,700 10.0 USD American 21/08/2026 | Common Call Option Sold -2,400 2.5 USD American 21/08/2026 | Common Call Option Sold -4,500 5.0 USD American 18/12/2026 | Common Call Option Sold -600 2.5 USD American 18/12/2026 | Common Put Option Sold 2,900 5.0 USD American 18/12/2026 | Common Call Option Sold -9,100 7.5 USD American 18/12/2026 | Common Call Option Sold -9,000 20.0 USD American 18/12/2026 | Common Put Option Sold 36,000 2.5 USD American 17/07/2026 | Common Call Option Sold -200 15.0 USD American 18/12/2026 | Common Call Option Sold -4,000 5.0 USD American 19/02/2027 | Common Call Option Sold -500 5.0 USD American 20/11/2026 | Common Call Option Sold -300 7.5 USD American 21/08/2026 | Common Call Option Sold -3,000 7.5 USD American 20/11/2026 | Common Call Option Sold -700 5.0 USD American 21/08/2026 | Common Call Option Sold -500 10.0 USD American 19/02/2027 |
3. AGREEMENTS TO PURCHASE OR SELL
Full details should be given so that the nature of the interest or position can be fully understood:
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4. 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:
It is not necessary to provide details on a Supplemental Form with regard to cash-settled derivatives.
The currency of all prices and other monetary amounts should be stated.
For full details of disclosure requirements, see Rule 8 of the Rules. If in doubt, consult the Panel.
References in these notes to "the Rules" are to the Irish Takeover Panel Act, 1997, Takeover Rules, 2022.
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