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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 26 June 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 785,784 1.05 239,224 0.32 | (2) Cash-settled derivatives 0 0.00 0 0.00 | (3) Stock-settled derivatives (including options) and agreements to purchase/ sell 115,200 0.15 54,000 0.07 | Total 900,984 1.20 293,224 0.39 |
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 200 3.6000 USD | Common Buy Transaction 2,097 3.6587 USD | Common Buy Transaction 7 3.6600 USD | Common Buy Transaction 61 3.7000 USD | Common Buy Transaction 12,240 3.7014 USD | Common Buy Transaction 3 3.7033 USD | Common Buy Transaction 600 3.7300 USD | Common Buy Transaction 1,242 3.7354 USD | Common Buy Transaction 600 3.7417 USD | Common Buy Transaction 253 3.7479 USD | Common Buy Transaction 198 3.7646 USD | Common Buy Transaction 100 3.7690 USD | Common Buy Transaction 100 3.7700 USD | Common Buy Transaction 9,026 3.8000 USD | Common Buy Transaction 5 3.8040 USD | Common Buy Transaction 1,397 3.8068 USD | Common Buy Transaction 746 3.8100 USD | Common Buy Transaction 27 3.8133 USD | Common Buy Transaction 2 3.8150 USD | Common Buy Transaction 1,550 3.8181 USD | Common Buy Transaction 44 3.8200 USD | Common Buy Transaction 901 3.8300 USD | Common Buy Transaction 1,640 3.8308 USD | Common Buy Transaction 711 3.8332 USD | Common Buy Transaction 110 3.8336 USD | Common Buy Transaction 420 3.8370 USD | Common Buy Transaction 1 3.8400 USD | Common Buy Transaction 476 3.8500 USD | Common Buy Transaction 639 3.8501 USD | Common Buy Transaction 234 3.8550 USD | Common Buy Transaction 200 3.8575 USD | Common Buy Transaction 178 3.8575 USD | Common Buy Transaction 431 3.8592 USD | Common Buy Transaction 2,874 3.8600 USD | Common Buy Transaction 203 3.8602 USD | Common Buy Transaction 338 3.8614 USD | Common Buy Transaction 2,201 3.8631 USD | Common Buy Transaction 1,787 3.8658 USD | Common Buy Transaction 1,828 3.8700 USD | Common Buy Transaction 6,384 3.8728 USD | Common Buy Transaction 6,655 3.8731 USD | Common Buy Transaction 10,845 3.8738 USD | Common Buy Transaction 5,007 3.8751 USD | Common Buy Transaction 1,339 3.8800 USD | Common Buy Transaction 4,303 3.8828 USD | Common Buy Transaction 12,464 3.8867 USD | Common Buy Transaction 13 3.8885 USD | Common Buy Transaction 7,255 3.8888 USD | Common Buy Transaction 618 3.8900 USD | Common Buy Transaction 252 3.8919 USD | Common Buy Transaction 3,015 3.8940 USD | Common Buy Transaction 2,503 3.8968 USD | Common Buy Transaction 2,578 3.8984 USD | Common Buy Transaction 200 3.9000 USD | Common Buy Transaction 705 3.9006 USD | Common Buy Transaction 173 3.9020 USD | Common Buy Transaction 921 3.9022 USD | Common Buy Transaction 900 3.9026 USD | Common Buy Transaction 1,408 3.9055 USD | Common Buy Transaction 1,340 3.9064 USD | Common Buy Transaction 4,858 3.9065 USD | Common Buy Transaction 600 3.9067 USD | Common Buy Transaction 1,784 3.9070 USD | Common Buy Transaction 2,846 3.9079 USD | Common Buy Transaction 2,138 3.9088 USD | Common Buy Transaction 38,840 3.9092 USD | Common Buy Transaction 1,251 3.9100 USD | Common Buy Transaction 8,716 3.9115 USD | Common Buy Transaction 2,110 3.9134 USD | Common Buy Transaction 2 3.9150 USD | Common Buy Transaction 191 3.9152 USD | Common Buy Transaction 206 3.9164 USD | Common Buy Transaction 538 3.9168 USD | Common Buy Transaction 23 3.9170 USD | Common Buy Transaction 10,543 3.9197 USD | Common Buy Transaction 954 3.9200 USD | Common Buy Transaction 822 3.9200 USD | Common Buy Transaction 1,031 3.9211 USD | Common Buy Transaction 6,532 3.9214 USD | Common Buy Transaction 2,113 3.9215 USD | Common Buy Transaction 16,294 3.9223 USD | Common Buy Transaction 1,500 3.9233 USD | Common Buy Transaction 2,699 3.9234 USD | Common Buy Transaction 872 3.9235 USD | Common Buy Transaction 1,767 3.9237 USD | Common Buy Transaction 1,069 3.9238 USD | Common Buy Transaction 426 3.9250 USD | Common Buy Transaction 278 3.9257 USD | Common Buy Transaction 2,290 3.9264 USD | Common Buy Transaction 1,000 3.9270 USD | Common Buy Transaction 2,004 3.9270 USD | Common Buy Transaction 700 3.9271 USD | Common Buy Transaction 2,995 3.9276 USD | Common Buy Transaction 848 3.9279 USD | Common Buy Transaction 6 3.9283 USD | Common Buy Transaction 8,075 3.9300 USD | Common Buy Transaction 1,000 3.9314 USD | Common Buy Transaction 1,137 3.9326 USD | Common Buy Transaction 3,301 3.9331 USD | Common Buy Transaction 2,351 3.9351 USD | Common Buy Transaction 1,557 3.9355 USD | Common Buy Transaction 720 3.9383 USD | Common Buy Transaction 747 3.9400 USD | Common Buy Transaction 205 3.9404 USD | Common Buy Transaction 500 3.9420 USD | Common Buy Transaction 44 3.9427 USD | Common Buy Transaction 448 3.9450 USD | Common Buy Transaction 1,675 3.9464 USD | Common Buy Transaction 414 3.9464 USD | Common Buy Transaction 2,592 3.9485 USD | Common Buy Transaction 713 3.9500 USD | Common Buy Transaction 405 3.9538 USD | Common Buy Transaction 6 3.9550 USD | Common Buy Transaction 333 3.9550 USD | Common Buy Transaction 199 3.9554 USD | Common Buy Transaction 680 3.9571 USD | Common Buy Transaction 685 3.9593 USD | Common Buy Transaction 5,825 3.9600 USD | Common Buy Transaction 2,956 3.9645 USD | Common Buy Transaction 210 3.9649 USD | Common Buy Transaction 100 3.9700 USD | Common Buy Transaction 415 3.9750 USD | Common Buy Transaction 3 3.9800 USD | Common Buy Transaction 2,246 3.9842 USD | Common Buy Transaction 17 3.9853 USD | Common Buy Transaction 35 3.9900 USD | Common Buy Transaction 3,578 4.0055 USD | Common Buy Transaction 650 4.0190 USD | Common Buy Transaction 16,111 4.0267 USD | Common Buy Transaction 7,003 4.0482 USD | Common Buy Transaction 170 4.0658 USD | Common Buy Transaction 2,236 4.0674 USD | Common Buy Transaction 56 4.0693 USD | Common Buy Transaction 100 4.0700 USD | Common Buy Transaction 4,800 4.0799 USD | Common Buy Transaction 8,762 4.0800 USD | Common Buy Transaction 11 4.0955 USD | Common Sell Transaction 1,302 3.9600 USD | Common Sell Transaction 600 3.4917 USD | Common Sell Transaction 10 3.4990 USD | Common Sell Transaction 833 3.5000 USD | Common Sell Transaction 6 3.5767 USD | Common Sell Transaction 200 3.5953 USD | Common Sell Transaction 3,000 3.6000 USD | Common Sell Transaction 203 3.6200 USD | Common Sell Transaction 20 3.6345 USD | Common Sell Transaction 1,950 3.6400 USD | Common Sell Transaction 7,254 3.6458 USD | Common Sell Transaction 415 3.6800 USD | Common Sell Transaction 6 3.6817 USD | Common Sell Transaction 99 3.6900 USD | Common Sell Transaction 88 3.6968 USD | Common Sell Transaction 20 3.7340 USD | Common Sell Transaction 437 3.7431 USD | Common Sell Transaction 340 3.7453 USD | Common Sell Transaction 670 3.7599 USD | Common Sell Transaction 800 3.7600 USD | Common Sell Transaction 280 3.7775 USD | Common Sell Transaction 283 3.7783 USD | Common Sell Transaction 2,380 3.7794 USD | Common Sell Transaction 1,231 3.7826 USD | Common Sell Transaction 100 3.7994 USD | Common Sell Transaction 2,111 3.7998 USD | Common Sell Transaction 9,790 3.8000 USD | Common Sell Transaction 789 3.8123 USD | Common Sell Transaction 800 3.8138 USD | Common Sell Transaction 483 3.8146 USD | Common Sell Transaction 17 3.8147 USD | Common Sell Transaction 823 3.8258 USD | Common Sell Transaction 1,716 3.8259 USD | Common Sell Transaction 28 3.8286 USD | Common Sell Transaction 3,692 3.8298 USD | Common Sell Transaction 591 3.8300 USD | Common Sell Transaction 700 3.8357 USD | Common Sell Transaction 4,883 3.8375 USD | Common Sell Transaction 2,383 3.8386 USD | Common Sell Transaction 1 3.8400 USD | Common Sell Transaction 1,589 3.8426 USD | Common Sell Transaction 200 3.8450 USD | Common Sell Transaction 3 3.8467 USD | Common Sell Transaction 2,250 3.8476 USD | Common Sell Transaction 15 3.8500 USD | Common Sell Transaction 10,655 3.8510 USD | Common Sell Transaction 922 3.8519 USD | Common Sell Transaction 926 3.8550 USD | Common Sell Transaction 1,520 3.8558 USD | Common Sell Transaction 2,874 3.8599 USD | Common Sell Transaction 1,964 3.8612 USD | Common Sell Transaction 373 3.8632 USD | Common Sell Transaction 363 3.8678 USD | Common Sell Transaction 9,900 3.8700 USD | Common Sell Transaction 483 3.8773 USD | Common Sell Transaction 7 3.8814 USD | Common Sell Transaction 8,064 3.8817 USD | Common Sell Transaction 260 3.8831 USD | Common Sell Transaction 120 3.8850 USD | Common Sell Transaction 544 3.8851 USD | Common Sell Transaction 1,138 3.8877 USD | Common Sell Transaction 165 3.8892 USD | Common Sell Transaction 224 3.8900 USD | Common Sell Transaction 43 3.8919 USD | Common Sell Transaction 1,097 3.8943 USD | Common Sell Transaction 6,900 3.8951 USD | Common Sell Transaction 1 3.9000 USD | Common Sell Transaction 855 3.9054 USD | Common Sell Transaction 248 3.9059 USD | Common Sell Transaction 701 3.9086 USD | Common Sell Transaction 157 3.9094 USD | Common Sell Transaction 6,685 3.9100 USD | Common Sell Transaction 105 3.9110 USD | Common Sell Transaction 2,093 3.9119 USD | Common Sell Transaction 3,623 3.9150 USD | Common Sell Transaction 502 3.9150 USD | Common Sell Transaction 95 3.9151 USD | Common Sell Transaction 1,076 3.9152 USD | Common Sell Transaction 820 3.9161 USD | Common Sell Transaction 1,562 3.9174 USD | Common Sell Transaction 91 3.9175 USD | Common Sell Transaction 900 3.9178 USD | Common Sell Transaction 13 3.9185 USD | Common Sell Transaction 759 3.9187 USD | Common Sell Transaction 97 3.9192 USD | Common Sell Transaction 359 3.9200 USD | Common Sell Transaction 712 3.9232 USD | Common Sell Transaction 298 3.9242 USD | Common Sell Transaction 300 3.9300 USD | Common Sell Transaction 1,950 3.9326 USD | Common Sell Transaction 1,500 3.9340 USD | Common Sell Transaction 2,538 3.9347 USD | Common Sell Transaction 1,314 3.9351 USD | Common Sell Transaction 746 3.9366 USD | Common Sell Transaction 700 3.9371 USD | Common Sell Transaction 137 3.9399 USD | Common Sell Transaction 327 3.9400 USD | Common Sell Transaction 76 3.9428 USD | Common Sell Transaction 700 3.9443 USD | Common Sell Transaction 1,148 3.9452 USD | Common Sell Transaction 6,000 3.9490 USD | Common Sell Transaction 1,386 3.9500 USD | Common Sell Transaction 333 3.9550 USD | Common Sell Transaction 45,778 3.9600 USD | Common Sell Transaction 1,668 3.9617 USD | Common Sell Transaction 425 3.9624 USD | Common Sell Transaction 2,536 3.9698 USD | Common Sell Transaction 142 4.0156 USD | Common Sell Transaction 650 4.0190 USD | Common Sell Transaction 24,544 4.0191 USD | Common Sell Transaction 101 4.0586 USD | Common Sell Transaction 198 4.0600 USD | Common Sell Transaction 8 4.0700 USD | Common Sell Transaction 412 4.0800 USD | Common Sell Transaction 15 4.0900 USD |
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(b) Cash-settled derivative transactions
Class of relevant security Common | Product description e.g. CFD CFD | Nature of dealing e.g. opening/ closing a long/ short position, increasing/ reducing a long/ short position Closing short position | Number of reference securities (Note 6) 1,382 | Price per unit (Note 5) 3.9200 USD |
(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 1,800 5.0000 USD American 2026-12-18 0.6500 USD | Common Put Option Buy Transaction 300 7.5000 USD American 2027-02-19 4.3300 USD | Common Put Option Sell Transaction 300 7.5000 USD American 2026-08-21 3.9800 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 29 June 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 -2,300 5.0 USD American 20/11/2026 | Common Put Option Purchased -100 10.0 USD American 21/08/2026 | Common Call Option Purchased 50,800 20.0 USD American 21/08/2026 | Common Call Option Purchased 200 17.5 USD American 18/12/2026 | Common Put Option Purchased -8,500 5.0 USD American 17/07/2026 | Common Put Option Purchased -2,500 7.5 USD American 18/12/2026 | Common Call Option Purchased 2,100 10.0 USD American 21/08/2026 | Common Call Option Purchased 21,200 10.0 USD American 20/11/2026 | Common Put Option Purchased -300 7.5 USD American 19/02/2027 | Common Put Option Purchased -400 2.5 USD American 21/08/2026 | Common Call Option Purchased 4,000 10.0 USD American 18/12/2026 | Common Put Option Purchased -1,400 5.0 USD American 21/08/2026 | Common Put Option Purchased -2,100 5.0 USD American 18/12/2026 | Common Put Option Purchased -800 7.5 USD American 21/08/2026 | 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 Call Option Purchased 900 5.0 USD American 17/07/2026 | 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 -3,000 7.5 USD American 20/11/2026 | Common Call Option Sold -9,000 20.0 USD American 18/12/2026 | Common Call Option Sold -5,000 5.0 USD American 18/12/2026 | Common Call Option Sold -100 7.5 USD American 21/08/2026 | Common Call Option Sold -100 5.0 USD American 20/11/2026 | Common Call Option Sold -2,400 2.5 USD American 21/08/2026 | Common Call Option Sold -600 2.5 USD American 18/12/2026 | Common Call Option Sold -9,100 7.5 USD American 18/12/2026 | Common Call Option Sold -4,900 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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