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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 20 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 817,350 1.09 1 0.00 | (2) Cash-settled derivatives 0 0.00 0 0.00 | (3) Stock-settled derivatives (including options) and agreements to purchase/ sell 147,500 0.19 46,600 0.06 | Total 964,850 1.29 46,601 0.06 |
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 83 3.9141 USD | Common Buy Transaction 100 3.9300 USD | Common Buy Transaction 100 3.9600 USD | Common Buy Transaction 430 3.9650 USD | Common Buy Transaction 100 3.9700 USD | Common Buy Transaction 8,591 3.9803 USD | Common Buy Transaction 6,679 3.9855 USD | Common Buy Transaction 300 3.9933 USD | Common Buy Transaction 119 3.9986 USD | Common Buy Transaction 56 4.0050 USD | Common Buy Transaction 131 4.0062 USD | Common Buy Transaction 177 4.0068 USD | Common Buy Transaction 401 4.0078 USD | Common Buy Transaction 913 4.0080 USD | Common Buy Transaction 184 4.0100 USD | Common Buy Transaction 500 4.0280 USD | Common Buy Transaction 1 4.0500 USD | Common Buy Transaction 1,526 4.0569 USD | Common Buy Transaction 303 4.0600 USD | Common Buy Transaction 45 4.0651 USD | Common Buy Transaction 508 4.0779 USD | Common Buy Transaction 59 4.0795 USD | Common Buy Transaction 6 4.0817 USD | Common Buy Transaction 6,896 4.0876 USD | Common Buy Transaction 578 4.0887 USD | Common Buy Transaction 45 4.0900 USD | Common Buy Transaction 271 4.0936 USD | Common Buy Transaction 357 4.0938 USD | Common Buy Transaction 506 4.1000 USD | Common Buy Transaction 742 4.1005 USD | Common Buy Transaction 109 4.1013 USD | Common Buy Transaction 340 4.1100 USD | Common Buy Transaction 56 4.1113 USD | Common Buy Transaction 1,626 4.1115 USD | Common Buy Transaction 609 4.1174 USD | Common Buy Transaction 700 4.1200 USD | Common Buy Transaction 1,931 4.1202 USD | Common Buy Transaction 20 4.1215 USD | Common Buy Transaction 680 4.1215 USD | Common Buy Transaction 2,083 4.1219 USD | Common Buy Transaction 1,009 4.1219 USD | Common Buy Transaction 2,200 4.1264 USD | Common Buy Transaction 17 4.1265 USD | Common Buy Transaction 7,000 4.1278 USD | Common Buy Transaction 171 4.1300 USD | Common Buy Transaction 113 4.1323 USD | Common Buy Transaction 1,153 4.1326 USD | Common Buy Transaction 881 4.1328 USD | Common Buy Transaction 256 4.1342 USD | Common Buy Transaction 2,966 4.1369 USD | Common Buy Transaction 165 4.1388 USD | Common Buy Transaction 721 4.1400 USD | Common Buy Transaction 345 4.1414 USD | Common Buy Transaction 50 4.1420 USD | Common Buy Transaction 581 4.1426 USD | Common Buy Transaction 1,062 4.1450 USD | Common Buy Transaction 484 4.1451 USD | Common Buy Transaction 2,500 4.1460 USD | Common Buy Transaction 370 4.1468 USD | Common Buy Transaction 160 4.1475 USD | Common Buy Transaction 120 4.1492 USD | Common Buy Transaction 5,222 4.1500 USD | Common Buy Transaction 1,177 4.1504 USD | Common Buy Transaction 4,239 4.1506 USD | Common Buy Transaction 30 4.1513 USD | Common Buy Transaction 420 4.1517 USD | Common Buy Transaction 620 4.1526 USD | Common Buy Transaction 274 4.1582 USD | Common Buy Transaction 1,315 4.1590 USD | Common Buy Transaction 5,683 4.1599 USD | Common Buy Transaction 49 4.1600 USD | Common Buy Transaction 500 4.1610 USD | Common Buy Transaction 200 4.1625 USD | Common Buy Transaction 22,830 4.1634 USD | Common Buy Transaction 2,119 4.1639 USD | Common Buy Transaction 200 4.1650 USD | Common Buy Transaction 101 4.1653 USD | Common Buy Transaction 260 4.1654 USD | Common Buy Transaction 2,257 4.1673 USD | Common Buy Transaction 23,594 4.1700 USD | Common Buy Transaction 257 4.1712 USD | Common Buy Transaction 500 4.1718 USD | Common Buy Transaction 52 4.1729 USD | Common Buy Transaction 5,130 4.1753 USD | Common Buy Transaction 701 4.1800 USD | Common Buy Transaction 2,045 4.1900 USD | Common Buy Transaction 242 4.1941 USD | Common Buy Transaction 90 4.2000 USD | Common Buy Transaction 10,009 4.2005 USD | Common Buy Transaction 1,644 4.2161 USD | Common Buy Transaction 8,100 4.2371 USD | Common Buy Transaction 500 4.5613 USD | Common Sell Transaction 1,100 3.9600 USD | Common Sell Transaction 8 3.9688 USD | Common Sell Transaction 114 3.9691 USD | Common Sell Transaction 50 3.9702 USD | Common Sell Transaction 445 3.9951 USD | Common Sell Transaction 782 3.9952 USD | Common Sell Transaction 24 3.9983 USD | Common Sell Transaction 397 3.9994 USD | Common Sell Transaction 2,506 4.0000 USD | Common Sell Transaction 2,200 4.0068 USD | Common Sell Transaction 7,131 4.0342 USD | Common Sell Transaction 650 4.0349 USD | Common Sell Transaction 1,003 4.0379 USD | Common Sell Transaction 2,000 4.0422 USD | Common Sell Transaction 200 4.0450 USD | Common Sell Transaction 271 4.0500 USD | Common Sell Transaction 470 4.0543 USD | Common Sell Transaction 709 4.0573 USD | Common Sell Transaction 250 4.0600 USD | Common Sell Transaction 881 4.0614 USD | Common Sell Transaction 362 4.0627 USD | Common Sell Transaction 1,283 4.0657 USD | Common Sell Transaction 538 4.0680 USD | Common Sell Transaction 244 4.0699 USD | Common Sell Transaction 100 4.0700 USD | Common Sell Transaction 2,592 4.0714 USD | Common Sell Transaction 12 4.0725 USD | Common Sell Transaction 636 4.0788 USD | Common Sell Transaction 201 4.0808 USD | Common Sell Transaction 300 4.0833 USD | Common Sell Transaction 2,300 4.0900 USD | Common Sell Transaction 4,399 4.0936 USD | Common Sell Transaction 62 4.1000 USD | Common Sell Transaction 282 4.1010 USD | Common Sell Transaction 5,463 4.1013 USD | Common Sell Transaction 293 4.1014 USD | Common Sell Transaction 1,500 4.1033 USD | Common Sell Transaction 80 4.1050 USD | Common Sell Transaction 1,075 4.1077 USD | Common Sell Transaction 1,018 4.1084 USD | Common Sell Transaction 15 4.1093 USD | Common Sell Transaction 2,410 4.1100 USD | Common Sell Transaction 347 4.1119 USD | Common Sell Transaction 3,070 4.1120 USD | Common Sell Transaction 101 4.1200 USD | Common Sell Transaction 38 4.1211 USD | Common Sell Transaction 270 4.1222 USD | Common Sell Transaction 1,956 4.1230 USD | Common Sell Transaction 838 4.1270 USD | Common Sell Transaction 1,196 4.1279 USD | Common Sell Transaction 200 4.1285 USD | Common Sell Transaction 57 4.1286 USD | Common Sell Transaction 706 4.1288 USD | Common Sell Transaction 9,952 4.1288 USD | Common Sell Transaction 1,899 4.1300 USD | Common Sell Transaction 600 4.1317 USD | Common Sell Transaction 1,100 4.1318 USD | Common Sell Transaction 2,000 4.1350 USD | Common Sell Transaction 604 4.1362 USD | Common Sell Transaction 108 4.1376 USD | Common Sell Transaction 1,367 4.1391 USD | Common Sell Transaction 858 4.1400 USD | Common Sell Transaction 673 4.1412 USD | Common Sell Transaction 390 4.1418 USD | Common Sell Transaction 46 4.1439 USD | Common Sell Transaction 1,575 4.1440 USD | Common Sell Transaction 879 4.1440 USD | Common Sell Transaction 1,924 4.1453 USD | Common Sell Transaction 196 4.1456 USD | Common Sell Transaction 2,460 4.1470 USD | Common Sell Transaction 4,728 4.1499 USD | Common Sell Transaction 12 4.1500 USD | Common Sell Transaction 2,283 4.1507 USD | Common Sell Transaction 37 4.1551 USD | Common Sell Transaction 4 4.1575 USD | Common Sell Transaction 800 4.1587 USD | Common Sell Transaction 95 4.1600 USD | Common Sell Transaction 41 4.1644 USD | Common Sell Transaction 467 4.1650 USD | Common Sell Transaction 825 4.1658 USD | Common Sell Transaction 2,257 4.1673 USD | Common Sell Transaction 24,455 4.1700 USD | Common Sell Transaction 179 4.1712 USD | Common Sell Transaction 428 4.1788 USD | Common Sell Transaction 1,589 4.1799 USD | Common Sell Transaction 200 4.1850 USD | Common Sell Transaction 400 4.1900 USD | Common Sell Transaction 5,154 4.2000 USD | Common Sell Transaction 10,009 4.2005 USD | Common Sell Transaction 600 4.2017 USD | Common Sell Transaction 325 4.2038 USD | Common Sell Transaction 1,200 4.2392 USD | Common Sell Transaction 423 4.2500 USD | Common Sell Transaction 500 4.5613 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 0.2000 USD | Common Call Option Buy Transaction 17,000 5.0000 USD American 2026-08-21 0.2200 USD | Common Call Option Sell Transaction 200 2.5000 USD American 2026-12-18 1.9500 USD | Common Call Option Sell Transaction 1,300 2.5000 USD American 2027-02-19 2.0000 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 21 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 Call Option Purchased 50,500 20.0 USD American 21/08/2026 | Common Call Option Purchased 100 7.5 USD American 19/02/2027 | Common Call Option Purchased 17,100 5.0 USD American 21/08/2026 | Common Put Option Purchased -2,800 5.0 USD American 21/08/2026 | Common Call Option Purchased 9,400 5.0 USD American 19/02/2027 | 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 -900 2.5 USD American 18/12/2026 | Common Put Option Purchased -100 2.5 USD American 21/08/2026 | Common Put Option Purchased -800 7.5 USD American 21/08/2026 | Common Call Option Purchased 21,800 10.0 USD American 20/11/2026 | Common Put Option Purchased -300 7.5 USD American 19/02/2027 | Common Call Option Purchased 44,000 10.0 USD American 18/12/2026 | 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 Call Option Purchased 1,700 10.0 USD American 21/08/2026 | Common Call Option Sold -400 5.0 USD American 20/11/2026 | Common Call Option Sold -1,100 2.5 USD American 18/12/2026 | Common Call Option Sold -3,100 7.5 USD American 20/11/2026 | 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 -500 10.0 USD American 19/02/2027 | Common Call Option Sold -2,100 2.5 USD American 19/02/2027 | Common Call Option Sold -300 7.5 USD American 21/08/2026 | Common Call Option Sold -3,200 17.5 USD American 18/12/2026 | Common Call Option Sold -200 15.0 USD American 18/12/2026 | Common Call Option Sold -9,000 20.0 USD American 18/12/2026 | Common Call Option Sold -5,100 5.0 USD American 18/12/2026 | Common Call Option Sold -2,400 2.5 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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