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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 16 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 787,076 1.05 79,405 0.10 | (2) Cash-settled derivatives 0 0.00 0 0.00 | (3) Stock-settled derivatives (including options) and agreements to purchase/ sell 167,400 0.22 53,400 0.07 | Total 954,476 1.27 132,805 0.17 |
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 44 4.1420 USD | Common Buy Transaction 65 4.1500 USD | Common Buy Transaction 600 4.1550 USD | Common Buy Transaction 107 4.1550 USD | Common Buy Transaction 62 4.1560 USD | Common Buy Transaction 583 4.1600 USD | Common Buy Transaction 934 4.1625 USD | Common Buy Transaction 709 4.1636 USD | Common Buy Transaction 200 4.1650 USD | Common Buy Transaction 351 4.1659 USD | Common Buy Transaction 2,300 4.1661 USD | Common Buy Transaction 410 4.1662 USD | Common Buy Transaction 400 4.1675 USD | Common Buy Transaction 10,457 4.1700 USD | Common Buy Transaction 622 4.1712 USD | Common Buy Transaction 2,625 4.1738 USD | Common Buy Transaction 969 4.1740 USD | Common Buy Transaction 686 4.1745 USD | Common Buy Transaction 3,307 4.1755 USD | Common Buy Transaction 518 4.1756 USD | Common Buy Transaction 600 4.1767 USD | Common Buy Transaction 26 4.1777 USD | Common Buy Transaction 1,107 4.1779 USD | Common Buy Transaction 356 4.1779 USD | Common Buy Transaction 249 4.1794 USD | Common Buy Transaction 7,412 4.1798 USD | Common Buy Transaction 922 4.1799 USD | Common Buy Transaction 1,486 4.1800 USD | Common Buy Transaction 174 4.1801 USD | Common Buy Transaction 192 4.1805 USD | Common Buy Transaction 910 4.1814 USD | Common Buy Transaction 4,835 4.1837 USD | Common Buy Transaction 691 4.1842 USD | Common Buy Transaction 308 4.1857 USD | Common Buy Transaction 805 4.1892 USD | Common Buy Transaction 856 4.1900 USD | Common Buy Transaction 625 4.1904 USD | Common Buy Transaction 239 4.1907 USD | Common Buy Transaction 1,049 4.1911 USD | Common Buy Transaction 499 4.1938 USD | Common Buy Transaction 1,290 4.1950 USD | Common Buy Transaction 437 4.1950 USD | Common Buy Transaction 1,015 4.1951 USD | Common Buy Transaction 1,240 4.1954 USD | Common Buy Transaction 194 4.1964 USD | Common Buy Transaction 400 4.1969 USD | Common Buy Transaction 3,158 4.1973 USD | Common Buy Transaction 287 4.2000 USD | Common Buy Transaction 1,101 4.2100 USD | Common Buy Transaction 1,024 4.2115 USD | Common Buy Transaction 7 4.2143 USD | Common Buy Transaction 1,392 4.2150 USD | Common Buy Transaction 201 4.2196 USD | Common Buy Transaction 1,540 4.2200 USD | Common Buy Transaction 4 4.2250 USD | Common Buy Transaction 276 4.2255 USD | Common Buy Transaction 584 4.2332 USD | Common Buy Transaction 164 4.2350 USD | Common Buy Transaction 1,419 4.2400 USD | Common Buy Transaction 1 4.2500 USD | Common Buy Transaction 1,427 4.2675 USD | Common Buy Transaction 21 4.2800 USD | Common Buy Transaction 7868 4.2400 USD | Common Sell Transaction 23 4.2400 USD | Common Sell Transaction 1 4.1400 USD | Common Sell Transaction 757 4.1550 USD | Common Sell Transaction 14 4.1586 USD | Common Sell Transaction 1,571 4.1600 USD | Common Sell Transaction 27 4.1619 USD | Common Sell Transaction 800 4.1638 USD | Common Sell Transaction 2,443 4.1656 USD | Common Sell Transaction 1,339 4.1668 USD | Common Sell Transaction 599 4.1694 USD | Common Sell Transaction 500 4.1699 USD | Common Sell Transaction 10,508 4.1700 USD | Common Sell Transaction 76 4.1703 USD | Common Sell Transaction 37 4.1714 USD | Common Sell Transaction 169 4.1728 USD | Common Sell Transaction 7,048 4.1742 USD | Common Sell Transaction 260 4.1785 USD | Common Sell Transaction 103 4.1788 USD | Common Sell Transaction 11 4.1791 USD | Common Sell Transaction 80 4.1800 USD | Common Sell Transaction 400 4.1825 USD | Common Sell Transaction 1,363 4.1833 USD | Common Sell Transaction 569 4.1846 USD | Common Sell Transaction 94 4.1847 USD | Common Sell Transaction 60 4.1850 USD | Common Sell Transaction 1,907 4.1862 USD | Common Sell Transaction 86 4.1871 USD | Common Sell Transaction 6 4.1883 USD | Common Sell Transaction 531 4.1885 USD | Common Sell Transaction 259 4.1887 USD | Common Sell Transaction 1,632 4.1900 USD | Common Sell Transaction 600 4.1950 USD | Common Sell Transaction 56 4.1954 USD | Common Sell Transaction 801 4.1963 USD | Common Sell Transaction 242 4.1972 USD | Common Sell Transaction 4,480 4.1980 USD | Common Sell Transaction 7 4.2000 USD | Common Sell Transaction 4 4.2025 USD | Common Sell Transaction 14 4.2029 USD | Common Sell Transaction 7,767 4.2042 USD | Common Sell Transaction 10 4.2090 USD | Common Sell Transaction 667 4.2100 USD | Common Sell Transaction 5 4.2140 USD | Common Sell Transaction 8 4.2175 USD | Common Sell Transaction 115 4.2200 USD | Common Sell Transaction 10 4.2240 USD | Common Sell Transaction 484 4.2277 USD | Common Sell Transaction 2,256 4.2299 USD | Common Sell Transaction 2,545 4.2299 USD | Common Sell Transaction 1 4.2300 USD | Common Sell Transaction 300 4.2350 USD | Common Sell Transaction 124 4.2352 USD | Common Sell Transaction 10 4.2380 USD | Common Sell Transaction 424 4.2400 USD | Common Sell Transaction 100 4.2438 USD | Common Sell Transaction 20 4.2490 USD | Common Sell Transaction 1 4.2500 USD | Common Sell Transaction 1,527 4.2628 USD | Common Sell Transaction 21 4.2800 USD | Common Sell Transaction 7,730 4.8000 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 Common | Product description e.g. call option Call Option | Writing, purchasing, selling, varying etc. Sell Transaction | Number of securities to which option relates (Note 6) 300 | Exercise price per unit 2.5000 USD | Type e.g. American, European etc. American | Expiry date 2026-12-18 | Option money paid/ received per unit 2.0500 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 17 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 -300 10.0 USD American 18/12/2026 | Common Put Option Purchased -100 2.5 USD American 21/08/2026 | 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 100 7.5 USD American 19/02/2027 | Common Call Option Purchased 21,800 10.0 USD American 20/11/2026 | Common Call Option Purchased 800 5.0 USD American 17/07/2026 | Common Put Option Purchased -800 7.5 USD American 21/08/2026 | Common Put Option Purchased -7,600 5.0 USD American 17/07/2026 | Common Put Option Purchased -100 10.0 USD American 21/08/2026 | Common Put Option Purchased -300 7.5 USD American 19/02/2027 | Common Call Option Purchased 9,400 5.0 USD American 19/02/2027 | Common Call Option Purchased 50,500 20.0 USD American 21/08/2026 | Common Call Option Purchased 200 17.5 USD American 18/12/2026 | Common Put Option Purchased -2,800 5.0 USD American 21/08/2026 | Common Put Option Purchased -2,300 5.0 USD American 20/11/2026 | Common Call Option Purchased 0 2.5 USD American 17/07/2026 | Common Call Option Purchased 44,000 10.0 USD American 18/12/2026 | Common Call Option Purchased 1,700 10.0 USD American 21/08/2026 | Common Call Option Sold -300 7.5 USD American 21/08/2026 | Common Put Option Sold 2,900 5.0 USD American 18/12/2026 | Common Call Option Sold -500 10.0 USD American 19/02/2027 | Common Call Option Sold -3,900 5.0 USD American 21/08/2026 | Common Call Option Sold -3,100 7.5 USD American 20/11/2026 | Common Call Option Sold -200 15.0 USD American 18/12/2026 | Common Call Option Sold -2,400 2.5 USD American 21/08/2026 | Common Call Option Sold -900 2.5 USD American 18/12/2026 | Common Call Option Sold -9,000 20.0 USD American 18/12/2026 | Common Call Option Sold -400 5.0 USD American 20/11/2026 | Common Call Option Sold -5,100 5.0 USD American 18/12/2026 | Common Call Option Sold -9,100 7.5 USD American 18/12/2026 | Common Put Option Sold 36,000 2.5 USD American 17/07/2026 | Common Call Option Sold -800 2.5 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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