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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 13 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" 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 789,360 1.05 70,339 0.09 | (2) Cash-settled derivatives 0 0.00 0 0.00 | (3) Stock-settled derivatives (including options) and agreements to purchase/ sell 158,500 0.21 55,800 0.07 | Total 947,860 1.26 126,139 0.16 |
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 184 4.0300 USD | Common Buy Transaction 704 4.0400 USD | Common Buy Transaction 245 4.0495 USD | Common Buy Transaction 2,656 4.0500 USD | Common Buy Transaction 403 4.0550 USD | Common Buy Transaction 395 4.0562 USD | Common Buy Transaction 310 4.0571 USD | Common Buy Transaction 362 4.0580 USD | Common Buy Transaction 736 4.0582 USD | Common Buy Transaction 1,300 4.0585 USD | Common Buy Transaction 435 4.0600 USD | Common Buy Transaction 1,000 4.0608 USD | Common Buy Transaction 517 4.0616 USD | Common Buy Transaction 297 4.0618 USD | Common Buy Transaction 369 4.0619 USD | Common Buy Transaction 2,801 4.0630 USD | Common Buy Transaction 1,913 4.0635 USD | Common Buy Transaction 868 4.0664 USD | Common Buy Transaction 297 4.0666 USD | Common Buy Transaction 3,117 4.0669 USD | Common Buy Transaction 1,250 4.0678 USD | Common Buy Transaction 515 4.0681 USD | Common Buy Transaction 581 4.0690 USD | Common Buy Transaction 634 4.0700 USD | Common Buy Transaction 14,360 4.0707 USD | Common Buy Transaction 569 4.0718 USD | Common Buy Transaction 700 4.0729 USD | Common Buy Transaction 1,854 4.0735 USD | Common Buy Transaction 3,625 4.0736 USD | Common Buy Transaction 555 4.0747 USD | Common Buy Transaction 17,888 4.0748 USD | Common Buy Transaction 774 4.0754 USD | Common Buy Transaction 300 4.0767 USD | Common Buy Transaction 1,524 4.0782 USD | Common Buy Transaction 696 4.0782 USD | Common Buy Transaction 60 4.0800 USD | Common Buy Transaction 735 4.0806 USD | Common Buy Transaction 295 4.0813 USD | Common Buy Transaction 2,521 4.0865 USD | Common Buy Transaction 189 4.0879 USD | Common Buy Transaction 351 4.0906 USD | Common Buy Transaction 173 4.0910 USD | Common Buy Transaction 784 4.0914 USD | Common Buy Transaction 173 4.0916 USD | Common Buy Transaction 291 4.0921 USD | Common Buy Transaction 415 4.0948 USD | Common Buy Transaction 192 4.0953 USD | Common Buy Transaction 1,344 4.0970 USD | Common Buy Transaction 21,022 4.0971 USD | Common Buy Transaction 307 4.0981 USD | Common Buy Transaction 208 4.0999 USD | Common Buy Transaction 8,058 4.1000 USD | Common Buy Transaction 2,861 4.1009 USD | Common Buy Transaction 600 4.1009 USD | Common Buy Transaction 500 4.1040 USD | Common Buy Transaction 248 4.1042 USD | Common Buy Transaction 2,462 4.1044 USD | Common Buy Transaction 400 4.1050 USD | Common Buy Transaction 6,690 4.1063 USD | Common Buy Transaction 4,683 4.1074 USD | Common Buy Transaction 16,287 4.1100 USD | Common Buy Transaction 5,431 4.1104 USD | Common Buy Transaction 1,283 4.1116 USD | Common Buy Transaction 145 4.1150 USD | Common Buy Transaction 231 4.1200 USD | Common Buy Transaction 523 4.1201 USD | Common Buy Transaction 3,041 4.1201 USD | Common Buy Transaction 4,110 4.1201 USD | Common Buy Transaction 694 4.1210 USD | Common Buy Transaction 961 4.1300 USD | Common Buy Transaction 56 4.1400 USD | Common Buy Transaction 1 4.1600 USD | Common Buy Transaction 146 4.1651 USD | Common Buy Transaction 1 4.1800 USD | Common Sell Transaction 79 4.0300 USD | Common Sell Transaction 706 4.0391 USD | Common Sell Transaction 2,829 4.0497 USD | Common Sell Transaction 1,582 4.0497 USD | Common Sell Transaction 8,277 4.0499 USD | Common Sell Transaction 1,936 4.0500 USD | Common Sell Transaction 11 4.0527 USD | Common Sell Transaction 240 4.0549 USD | Common Sell Transaction 168 4.0549 USD | Common Sell Transaction 200 4.0550 USD | Common Sell Transaction 114 4.0588 USD | Common Sell Transaction 28 4.0589 USD | Common Sell Transaction 395 4.0590 USD | Common Sell Transaction 212 4.0593 USD | Common Sell Transaction 260 4.0600 USD | Common Sell Transaction 60 4.0650 USD | Common Sell Transaction 359 4.0650 USD | Common Sell Transaction 1,250 4.0678 USD | Common Sell Transaction 2,462 4.0700 USD | Common Sell Transaction 1,509 4.0726 USD | Common Sell Transaction 17,888 4.0748 USD | Common Sell Transaction 210 4.0750 USD | Common Sell Transaction 60 4.0755 USD | Common Sell Transaction 125 4.0772 USD | Common Sell Transaction 400 4.0775 USD | Common Sell Transaction 501 4.0776 USD | Common Sell Transaction 600 4.0783 USD | Common Sell Transaction 425 4.0788 USD | Common Sell Transaction 900 4.0789 USD | Common Sell Transaction 86 4.0792 USD | Common Sell Transaction 514 4.0792 USD | Common Sell Transaction 1,568 4.0800 USD | Common Sell Transaction 1,100 4.0809 USD | Common Sell Transaction 794 4.0818 USD | Common Sell Transaction 12,554 4.0820 USD | Common Sell Transaction 250 4.0840 USD | Common Sell Transaction 663 4.0856 USD | Common Sell Transaction 1,855 4.0867 USD | Common Sell Transaction 18 4.0894 USD | Common Sell Transaction 19,031 4.0897 USD | Common Sell Transaction 842 4.0900 USD | Common Sell Transaction 44 4.0909 USD | Common Sell Transaction 311 4.0919 USD | Common Sell Transaction 1,189 4.0923 USD | Common Sell Transaction 463 4.0931 USD | Common Sell Transaction 1,100 4.0936 USD | Common Sell Transaction 803 4.0938 USD | Common Sell Transaction 2,280 4.0950 USD | Common Sell Transaction 539 4.0952 USD | Common Sell Transaction 1,687 4.0985 USD | Common Sell Transaction 1,544 4.0994 USD | Common Sell Transaction 831 4.0996 USD | Common Sell Transaction 3,117 4.1000 USD | Common Sell Transaction 3,557 4.1002 USD | Common Sell Transaction 400 4.1025 USD | Common Sell Transaction 624 4.1027 USD | Common Sell Transaction 300 4.1036 USD | Common Sell Transaction 1,656 4.1051 USD | Common Sell Transaction 11 4.1055 USD | Common Sell Transaction 11,411 4.1073 USD | Common Sell Transaction 25 4.1080 USD | Common Sell Transaction 1,146 4.1082 USD | Common Sell Transaction 400 4.1089 USD | Common Sell Transaction 965 4.1090 USD | Common Sell Transaction 2,021 4.1096 USD | Common Sell Transaction 18,997 4.1100 USD | Common Sell Transaction 75 4.1101 USD | Common Sell Transaction 700 4.1110 USD | Common Sell Transaction 582 4.1111 USD | Common Sell Transaction 944 4.1118 USD | Common Sell Transaction 211 4.1124 USD | Common Sell Transaction 1,372 4.1138 USD | Common Sell Transaction 200 4.1150 USD | Common Sell Transaction 1,200 4.1167 USD | Common Sell Transaction 4,075 4.1200 USD | Common Sell Transaction 323 4.1290 USD | Common Sell Transaction 1,300 4.1292 USD | Common Sell Transaction 3 4.1333 USD | Common Sell Transaction 115 4.1398 USD | Common Sell Transaction 100 4.1400 USD | Common Sell Transaction 86 4.1415 USD | Common Sell Transaction 2 4.1600 USD | Common Sell Transaction 1 4.2000 USD | Common Sell Transaction 67 4.2300 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 100 10.0000 USD American 2026-11-20 0.2500 USD | Common Call Option Buy Transaction 100 5.0000 USD American 2027-02-19 1.0100 USD | Common Put Option Buy Transaction 100 5.0000 USD American 2026-08-21 1.1000 USD | Common Call Option Sell Transaction 9,800 5.0000 USD American 2026-08-21 0.2800 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 14 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 -2,500 7.5 USD American 18/12/2026 | Common Put Option Purchased -2,300 5.0 USD American 20/11/2026 | Common Put Option Purchased -300 10.0 USD American 18/12/2026 | Common Put Option Purchased -100 10.0 USD American 21/08/2026 | Common Put Option Purchased -2,800 5.0 USD American 21/08/2026 | Common Call Option Purchased 21,300 10.0 USD American 20/11/2026 | Common Put Option Purchased -800 7.5 USD American 21/08/2026 | Common Put Option Purchased -300 7.5 USD American 19/02/2027 | Common Call Option Purchased 50,500 20.0 USD American 21/08/2026 | Common Put Option Purchased -100 2.5 USD American 21/08/2026 | Common Put Option Purchased -7,600 5.0 USD American 17/07/2026 | Common Call Option Purchased 0 2.5 USD American 17/07/2026 | Common Put Option Purchased -900 2.5 USD American 18/12/2026 | Common Call Option Purchased 44,000 10.0 USD American 18/12/2026 | Common Call Option Purchased 800 5.0 USD American 17/07/2026 | Common Call Option Purchased 200 17.5 USD American 18/12/2026 | Common Call Option Purchased 1,100 5.0 USD American 20/11/2026 | Common Call Option Purchased 1,700 10.0 USD American 21/08/2026 | Common Call Option Sold -9,000 20.0 USD American 18/12/2026 | Common Call Option Sold -600 2.5 USD American 18/12/2026 | Common Call Option Sold -300 7.5 USD American 21/08/2026 | Common Call Option Sold -2,400 2.5 USD American 21/08/2026 | Common Call Option Sold -800 2.5 USD American 19/02/2027 | Common Put Option Sold 36,000 2.5 USD American 17/07/2026 | Common Call Option Sold -500 10.0 USD American 19/02/2027 | Common Call Option Sold -9,100 7.5 USD American 18/12/2026 | Common Call Option Sold -200 15.0 USD American 18/12/2026 | Common Call Option Sold -3,100 5.0 USD American 19/02/2027 | Common Call Option Sold -3,000 7.5 USD American 20/11/2026 | Common Call Option Sold -5,100 5.0 USD American 18/12/2026 | Common Put Option Sold 2,900 5.0 USD American 18/12/2026 | Common Call Option Sold -4,000 5.0 USD American 21/08/2026 |
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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