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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 29 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 1.05 188,531 0.25 | (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 57,300 0.07 | Total 900,984 1.20 245,831 0.32 |
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 1 3.9500 USD | Common Buy Transaction 1,646 3.9515 USD | Common Buy Transaction 14 3.9900 USD | Common Buy Transaction 800 3.9950 USD | Common Buy Transaction 1,589 4.0000 USD | Common Buy Transaction 400 4.0012 USD | Common Buy Transaction 649 4.0046 USD | Common Buy Transaction 2 4.0050 USD | Common Buy Transaction 47 4.0051 USD | Common Buy Transaction 21 4.0090 USD | Common Buy Transaction 3,701 4.0100 USD | Common Buy Transaction 275 4.0103 USD | Common Buy Transaction 7 4.0129 USD | Common Buy Transaction 356 4.0150 USD | Common Buy Transaction 155 4.0150 USD | Common Buy Transaction 63 4.0151 USD | Common Buy Transaction 100 4.0190 USD | Common Buy Transaction 100 4.0200 USD | Common Buy Transaction 101 4.0217 USD | Common Buy Transaction 1,777 4.0263 USD | Common Buy Transaction 400 4.0287 USD | Common Buy Transaction 991 4.0300 USD | Common Buy Transaction 3,399 4.0314 USD | Common Buy Transaction 717 4.0379 USD | Common Buy Transaction 100 4.0400 USD | Common Buy Transaction 452 4.0450 USD | Common Buy Transaction 201 4.0504 USD | Common Buy Transaction 220 4.0550 USD | Common Buy Transaction 1,362 4.0581 USD | Common Buy Transaction 162 4.0600 USD | Common Buy Transaction 2,576 4.0634 USD | Common Buy Transaction 1,400 4.0679 USD | Common Buy Transaction 389 4.0730 USD | Common Buy Transaction 8,200 4.0730 USD | Common Buy Transaction 4,350 4.0751 USD | Common Buy Transaction 600 4.0783 USD | Common Buy Transaction 145 4.0800 USD | Common Buy Transaction 2,635 4.0801 USD | Common Buy Transaction 200 4.0850 USD | Common Buy Transaction 25 4.0868 USD | Common Buy Transaction 1,006 4.0896 USD | Common Buy Transaction 1,016 4.0913 USD | Common Buy Transaction 2,203 4.0913 USD | Common Buy Transaction 700 4.0929 USD | Common Buy Transaction 900 4.0944 USD | Common Buy Transaction 600 4.0967 USD | Common Buy Transaction 400 4.1000 USD | Common Buy Transaction 1,606 4.1078 USD | Common Buy Transaction 49 4.1080 USD | Common Buy Transaction 305 4.1098 USD | Common Buy Transaction 585 4.1143 USD | Common Buy Transaction 1,052 4.1165 USD | Common Buy Transaction 300 4.1167 USD | Common Buy Transaction 724 4.1178 USD | Common Buy Transaction 3,868 4.1186 USD | Common Buy Transaction 215 4.1200 USD | Common Buy Transaction 1,261 4.1203 USD | Common Buy Transaction 610 4.1213 USD | Common Buy Transaction 900 4.1222 USD | Common Buy Transaction 300 4.1233 USD | Common Buy Transaction 200 4.1250 USD | Common Buy Transaction 950 4.1266 USD | Common Buy Transaction 400 4.1275 USD | Common Buy Transaction 5 4.1300 USD | Common Buy Transaction 14,913 4.1316 USD | Common Buy Transaction 2,456 4.1320 USD | Common Buy Transaction 338 4.1328 USD | Common Buy Transaction 6,142 4.1333 USD | Common Buy Transaction 100 4.1400 USD | Common Buy Transaction 417 4.1432 USD | Common Buy Transaction 900 4.1433 USD | Common Buy Transaction 311 4.1435 USD | Common Buy Transaction 2,693 4.1507 USD | Common Buy Transaction 4,997 4.1519 USD | Common Buy Transaction 555 4.1535 USD | Common Buy Transaction 768 4.1577 USD | Common Buy Transaction 868 4.1593 USD | Common Buy Transaction 500 4.1600 USD | Common Buy Transaction 1,246 4.1606 USD | Common Buy Transaction 438 4.1618 USD | Common Buy Transaction 326 4.1700 USD | Common Buy Transaction 1,629 4.1702 USD | Common Buy Transaction 600 4.1722 USD | Common Buy Transaction 461 4.1733 USD | Common Buy Transaction 3,956 4.1750 USD | Common Buy Transaction 616 4.1760 USD | Common Buy Transaction 5,844 4.1763 USD | Common Buy Transaction 19,790 4.1765 USD | Common Buy Transaction 2 4.1800 USD | Common Buy Transaction 2,946 4.1810 USD | Common Buy Transaction 10 4.1830 USD | Common Buy Transaction 500 4.1860 USD | Common Buy Transaction 2,012 4.1883 USD | Common Buy Transaction 72 4.1900 USD | Common Buy Transaction 11,387 4.1927 USD | Common Buy Transaction 311 4.1939 USD | Common Buy Transaction 490 4.2010 USD | Common Buy Transaction 110 4.2109 USD | Common Buy Transaction 494 4.2124 USD | Common Buy Transaction 848 4.2183 USD | Common Buy Transaction 3,385 4.2219 USD | Common Buy Transaction 11,233 4.2255 USD | Common Buy Transaction 500 4.2280 USD | Common Buy Transaction 1,212 4.2306 USD | Common Buy Transaction 9,398 4.2362 USD | Common Buy Transaction 13,724 4.2387 USD | Common Buy Transaction 284 4.2418 USD | Common Buy Transaction 330 4.2433 USD | Common Buy Transaction 34,839 4.2500 USD | Common Buy Transaction 5 4.2580 USD | Common Buy Transaction 300 4.2600 USD | Common Buy Transaction 500 4.2651 USD | Common Buy Transaction 193 4.2700 USD | Common Buy Transaction 4,496 4.2500 USD | Common Sell Transaction 4,236 4.2500 USD | Common Sell Transaction 1,646 3.9515 USD | Common Sell Transaction 526 3.9700 USD | Common Sell Transaction 2,000 3.9725 USD | Common Sell Transaction 21 3.9900 USD | Common Sell Transaction 250 4.0000 USD | Common Sell Transaction 4,300 4.0044 USD | Common Sell Transaction 235 4.0148 USD | Common Sell Transaction 518 4.0150 USD | Common Sell Transaction 20 4.0175 USD | Common Sell Transaction 749 4.0199 USD | Common Sell Transaction 6,309 4.0246 USD | Common Sell Transaction 949 4.0294 USD | Common Sell Transaction 991 4.0300 USD | Common Sell Transaction 3,500 4.0329 USD | Common Sell Transaction 2 4.0350 USD | Common Sell Transaction 1,302 4.0353 USD | Common Sell Transaction 300 4.0390 USD | Common Sell Transaction 500 4.0398 USD | Common Sell Transaction 519 4.0400 USD | Common Sell Transaction 7 4.0486 USD | Common Sell Transaction 1,032 4.0500 USD | Common Sell Transaction 212 4.0500 USD | Common Sell Transaction 25 4.0556 USD | Common Sell Transaction 8,908 4.0634 USD | Common Sell Transaction 5,338 4.0672 USD | Common Sell Transaction 447 4.0700 USD | Common Sell Transaction 40 4.0765 USD | Common Sell Transaction 645 4.0800 USD | Common Sell Transaction 488 4.0800 USD | Common Sell Transaction 6 4.0850 USD | Common Sell Transaction 4 4.0900 USD | Common Sell Transaction 30,189 4.0924 USD | Common Sell Transaction 151 4.0925 USD | Common Sell Transaction 117 4.0962 USD | Common Sell Transaction 1,291 4.0992 USD | Common Sell Transaction 3,900 4.1000 USD | Common Sell Transaction 500 4.1040 USD | Common Sell Transaction 300 4.1047 USD | Common Sell Transaction 300 4.1067 USD | Common Sell Transaction 588 4.1098 USD | Common Sell Transaction 1,330 4.1100 USD | Common Sell Transaction 100 4.1200 USD | Common Sell Transaction 1,102 4.1209 USD | Common Sell Transaction 110 4.1250 USD | Common Sell Transaction 500 4.1260 USD | Common Sell Transaction 117 4.1261 USD | Common Sell Transaction 516 4.1279 USD | Common Sell Transaction 1,853 4.1300 USD | Common Sell Transaction 1 4.1300 USD | Common Sell Transaction 1,132 4.1313 USD | Common Sell Transaction 2,071 4.1328 USD | Common Sell Transaction 1,300 4.1346 USD | Common Sell Transaction 1,404 4.1350 USD | Common Sell Transaction 100 4.1350 USD | Common Sell Transaction 1,600 4.1363 USD | Common Sell Transaction 900 4.1367 USD | Common Sell Transaction 122 4.1367 USD | Common Sell Transaction 10,703 4.1390 USD | Common Sell Transaction 800 4.1400 USD | Common Sell Transaction 1,087 4.1415 USD | Common Sell Transaction 600 4.1433 USD | Common Sell Transaction 548 4.1451 USD | Common Sell Transaction 645 4.1453 USD | Common Sell Transaction 1,350 4.1576 USD | Common Sell Transaction 715 4.1582 USD | Common Sell Transaction 1,624 4.1598 USD | Common Sell Transaction 3,605 4.1600 USD | Common Sell Transaction 200 4.1604 USD | Common Sell Transaction 827 4.1616 USD | Common Sell Transaction 50 4.1700 USD | Common Sell Transaction 300 4.1733 USD | Common Sell Transaction 2,308 4.1772 USD | Common Sell Transaction 200 4.1790 USD | Common Sell Transaction 1,927 4.1855 USD | Common Sell Transaction 4,213 4.1896 USD | Common Sell Transaction 715 4.1898 USD | Common Sell Transaction 2 4.1900 USD | Common Sell Transaction 660 4.1930 USD | Common Sell Transaction 4,514 4.1940 USD | Common Sell Transaction 144 4.2000 USD | Common Sell Transaction 625 4.2019 USD | Common Sell Transaction 312 4.2019 USD | Common Sell Transaction 808 4.2055 USD | Common Sell Transaction 23 4.2070 USD | Common Sell Transaction 1 4.2100 USD | Common Sell Transaction 44 4.2200 USD | Common Sell Transaction 266 4.2252 USD | Common Sell Transaction 819 4.2268 USD | Common Sell Transaction 35 4.2300 USD | Common Sell Transaction 220 4.2330 USD | Common Sell Transaction 220 4.2350 USD | Common Sell Transaction 35 4.2351 USD | Common Sell Transaction 467 4.2400 USD | Common Sell Transaction 1,497 4.2415 USD | Common Sell Transaction 6,055 4.2443 USD | Common Sell Transaction 100 4.2450 USD | Common Sell Transaction 402 4.2453 USD | Common Sell Transaction 31,978 4.2500 USD | Common Sell Transaction 300 4.2533 USD | Common Sell Transaction 4,587 4.2600 USD | Common Sell Transaction 85 4.2700 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 Put Option Sell Transaction 300 5.0000 USD American 2026-07-17 1.0800 USD | Common Put Option Sell Transaction 200 5.0000 USD American 2026-07-17 1.1000 USD | Common Call Option Sell Transaction 3,000 5.0000 USD American 2027-02-19 1.1000 USD | Common Call Option Sell Transaction 700 5.0000 USD American 2027-02-19 1.1300 USD | Common Call Option Sell Transaction 100 5.0000 USD American 2027-02-19 1.1400 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 30 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 -2,500 7.5 USD American 18/12/2026 | 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 50,800 20.0 USD American 21/08/2026 | Common Put Option Purchased -100 10.0 USD American 21/08/2026 | Common Call Option Purchased 2,100 10.0 USD American 21/08/2026 | Common Put Option Purchased -1,400 5.0 USD American 21/08/2026 | Common Call Option Purchased 900 5.0 USD American 17/07/2026 | 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 -8,000 5.0 USD American 17/07/2026 | Common Put Option Purchased -800 7.5 USD American 21/08/2026 | Common Call Option Purchased 4,000 10.0 USD American 18/12/2026 | Common Call Option Purchased 200 17.5 USD American 18/12/2026 | Common Put Option Purchased -2,300 5.0 USD American 20/11/2026 | Common Put Option Purchased -2,100 5.0 USD American 18/12/2026 | Common Call Option Sold -600 2.5 USD American 18/12/2026 | Common Put Option Sold 36,000 2.5 USD American 17/07/2026 | 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 | Common Call Option Sold -9,000 20.0 USD American 18/12/2026 | Common Call Option Sold -200 15.0 USD American 18/12/2026 | Common Call Option Sold -100 5.0 USD American 20/11/2026 | Common Call Option Sold -100 7.5 USD American 21/08/2026 | Common Call Option Sold -3,000 7.5 USD American 20/11/2026 | Common Call Option Sold -3,800 5.0 USD American 19/02/2027 | Common Call Option Sold -5,000 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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