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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 8 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 786,707 1.05 88,840 0.11 | (2) Cash-settled derivatives 0 0.00 0 0.00 | (3) Stock-settled derivatives (including options) and agreements to purchase/ sell 163,100 0.21 52,300 0.07 | Total 949,807 1.27 141,140 0.18 |
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 100 4.0000 USD | Common Buy Transaction 90 4.0026 USD | Common Buy Transaction 2,676 4.0100 USD | Common Buy Transaction 511 4.0118 USD | Common Buy Transaction 1,147 4.0200 USD | Common Buy Transaction 400 4.0255 USD | Common Buy Transaction 484 4.0283 USD | Common Buy Transaction 51 4.0400 USD | Common Buy Transaction 8,705 4.0407 USD | Common Buy Transaction 1,600 4.0438 USD | Common Buy Transaction 5,001 4.0447 USD | Common Buy Transaction 5,779 4.0458 USD | Common Buy Transaction 2,032 4.0500 USD | Common Buy Transaction 6,495 4.0523 USD | Common Buy Transaction 500 4.0550 USD | Common Buy Transaction 7,201 4.0566 USD | Common Buy Transaction 1,834 4.0583 USD | Common Buy Transaction 1,402 4.0600 USD | Common Buy Transaction 10 4.0610 USD | Common Buy Transaction 224 4.0611 USD | Common Buy Transaction 107 4.0613 USD | Common Buy Transaction 2,227 4.0615 USD | Common Buy Transaction 471 4.0624 USD | Common Buy Transaction 1,100 4.0627 USD | Common Buy Transaction 216 4.0630 USD | Common Buy Transaction 1,030 4.0645 USD | Common Buy Transaction 272 4.0647 USD | Common Buy Transaction 151 4.0650 USD | Common Buy Transaction 19,366 4.0656 USD | Common Buy Transaction 15,071 4.0658 USD | Common Buy Transaction 7,054 4.0661 USD | Common Buy Transaction 10,059 4.0684 USD | Common Buy Transaction 2,425 4.0688 USD | Common Buy Transaction 360 4.0689 USD | Common Buy Transaction 600 4.0690 USD | Common Buy Transaction 6,241 4.0693 USD | Common Buy Transaction 1,995 4.0700 USD | Common Buy Transaction 1,125 4.0704 USD | Common Buy Transaction 1,000 4.0705 USD | Common Buy Transaction 220 4.0718 USD | Common Buy Transaction 4,009 4.0764 USD | Common Buy Transaction 1,324 4.0767 USD | Common Buy Transaction 572 4.0770 USD | Common Buy Transaction 1,068 4.0773 USD | Common Buy Transaction 350 4.0787 USD | Common Buy Transaction 9,152 4.0800 USD | Common Buy Transaction 2,059 4.0816 USD | Common Buy Transaction 5,340 4.0821 USD | Common Buy Transaction 239 4.0826 USD | Common Buy Transaction 331 4.0830 USD | Common Buy Transaction 1,470 4.0850 USD | Common Buy Transaction 700 4.0857 USD | Common Buy Transaction 478 4.0870 USD | Common Buy Transaction 192 4.0881 USD | Common Buy Transaction 114 4.0896 USD | Common Buy Transaction 902 4.0896 USD | Common Buy Transaction 984 4.0900 USD | Common Buy Transaction 339 4.0928 USD | Common Buy Transaction 675 4.0932 USD | Common Buy Transaction 505 4.0940 USD | Common Buy Transaction 3,087 4.0974 USD | Common Buy Transaction 202 4.1000 USD | Common Buy Transaction 100 4.1011 USD | Common Buy Transaction 200 4.1050 USD | Common Buy Transaction 600 4.1083 USD | Common Buy Transaction 225 4.1200 USD | Common Buy Transaction 700 4.1300 USD | Common Buy Transaction 500 4.1460 USD | Common Buy Transaction 100 4.1500 USD | Common Buy Transaction 574 4.1510 USD | Common Buy Transaction 15 4.1700 USD | Common Buy Transaction 300 4.1800 USD | Common Buy Transaction 1,412 4.1861 USD | Common Buy Transaction 900 4.1900 USD | Common Buy Transaction 2,393 4.1905 USD | Common Buy Transaction 100 4.2100 USD | Common Buy Transaction 411 4.2500 USD | Common Sell Transaction 230 4.0900 USD | Common Sell Transaction 800 4.0137 USD | Common Sell Transaction 332 4.0140 USD | Common Sell Transaction 66 4.0186 USD | Common Sell Transaction 357 4.0254 USD | Common Sell Transaction 150 4.0276 USD | Common Sell Transaction 10 4.0290 USD | Common Sell Transaction 5,260 4.0311 USD | Common Sell Transaction 187 4.0347 USD | Common Sell Transaction 280 4.0400 USD | Common Sell Transaction 966 4.0401 USD | Common Sell Transaction 175 4.0418 USD | Common Sell Transaction 409 4.0424 USD | Common Sell Transaction 1,449 4.0434 USD | Common Sell Transaction 303 4.0438 USD | Common Sell Transaction 348 4.0443 USD | Common Sell Transaction 5,779 4.0458 USD | Common Sell Transaction 4,300 4.0499 USD | Common Sell Transaction 200 4.0500 USD | Common Sell Transaction 2,023 4.0539 USD | Common Sell Transaction 50 4.0586 USD | Common Sell Transaction 405 4.0589 USD | Common Sell Transaction 113 4.0600 USD | Common Sell Transaction 350 4.0622 USD | Common Sell Transaction 22 4.0632 USD | Common Sell Transaction 229 4.0669 USD | Common Sell Transaction 700 4.0686 USD | Common Sell Transaction 25 4.0688 USD | Common Sell Transaction 1,325 4.0695 USD | Common Sell Transaction 520 4.0698 USD | Common Sell Transaction 1,154 4.0699 USD | Common Sell Transaction 11 4.0700 USD | Common Sell Transaction 419 4.0715 USD | Common Sell Transaction 96 4.0750 USD | Common Sell Transaction 119 4.0767 USD | Common Sell Transaction 18 4.0783 USD | Common Sell Transaction 19 4.0784 USD | Common Sell Transaction 13 4.0785 USD | Common Sell Transaction 1,456 4.0786 USD | Common Sell Transaction 525 4.0786 USD | Common Sell Transaction 622 4.0787 USD | Common Sell Transaction 303 4.0789 USD | Common Sell Transaction 20 4.0790 USD | Common Sell Transaction 100 4.0800 USD | Common Sell Transaction 727 4.0826 USD | Common Sell Transaction 247 4.0838 USD | Common Sell Transaction 900 4.0867 USD | Common Sell Transaction 6 4.0883 USD | Common Sell Transaction 17 4.0888 USD | Common Sell Transaction 10 4.0890 USD | Common Sell Transaction 1,500 4.0893 USD | Common Sell Transaction 3,055 4.0894 USD | Common Sell Transaction 1,627 4.0900 USD | Common Sell Transaction 500 4.0940 USD | Common Sell Transaction 590 4.0951 USD | Common Sell Transaction 300 4.0967 USD | Common Sell Transaction 1,768 4.0973 USD | Common Sell Transaction 369 4.0984 USD | Common Sell Transaction 5,222 4.1002 USD | Common Sell Transaction 788 4.1043 USD | Common Sell Transaction 5,070 4.1079 USD | Common Sell Transaction 1,255 4.1081 USD | Common Sell Transaction 96 4.1092 USD | Common Sell Transaction 333 4.1092 USD | Common Sell Transaction 76 4.1092 USD | Common Sell Transaction 14 4.1100 USD | Common Sell Transaction 1,643 4.1200 USD | Common Sell Transaction 5 4.1240 USD | Common Sell Transaction 1,179 4.1255 USD | Common Sell Transaction 260 4.1296 USD | Common Sell Transaction 1,374 4.1312 USD | Common Sell Transaction 1,880 4.1386 USD | Common Sell Transaction 1 4.1400 USD | Common Sell Transaction 730 4.1458 USD | Common Sell Transaction 287 4.1510 USD | Common Sell Transaction 247 4.1573 USD | Common Sell Transaction 206 4.1594 USD | Common Sell Transaction 281 4.1600 USD | Common Sell Transaction 15 4.1700 USD | Common Sell Transaction 1 4.1800 USD | Common Sell Transaction 783 4.1899 USD | Common Sell Transaction 7,001 4.1900 USD | Common Sell Transaction 287 4.2200 USD | Common Sell Transaction 352 4.2801 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 Sell Transaction 300 20.0000 USD American 2026-08-21 0.0500 USD | Common Call Option Sell Transaction 1,500 5.0000 USD American 2026-08-21 0.4000 USD | Common Call Option Sell Transaction 200 5.0000 USD American 2026-12-18 0.9000 USD | Common Call Option Sell Transaction 300 5.0000 USD American 2027-02-19 1.0900 USD | Common Call Option Sell Transaction 100 2.5000 USD American 2026-07-17 1.7500 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 9 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 -800 7.5 USD American 21/08/2026 | Common Call Option Purchased 1,700 10.0 USD American 21/08/2026 | Common Call Option Purchased 5,800 5.0 USD American 21/08/2026 | Common Put Option Purchased -7,600 5.0 USD American 17/07/2026 | Common Call Option Purchased 800 5.0 USD American 17/07/2026 | Common Put Option Purchased -100 2.5 USD American 21/08/2026 | Common Put Option Purchased -300 10.0 USD American 18/12/2026 | Common Call Option Purchased 44,000 10.0 USD American 18/12/2026 | Common Put Option Purchased -2,500 7.5 USD American 18/12/2026 | Common Put Option Purchased -2,700 5.0 USD American 21/08/2026 | Common Call Option Purchased 0 2.5 USD American 17/07/2026 | Common Put Option Purchased -100 10.0 USD American 21/08/2026 | Common Call Option Purchased 21,200 10.0 USD American 20/11/2026 | 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 -900 2.5 USD American 18/12/2026 | Common Put Option Purchased -2,300 5.0 USD American 20/11/2026 | Common Put Option Purchased -300 7.5 USD American 19/02/2027 | Common Call Option Sold -300 7.5 USD American 21/08/2026 | Common Call Option Sold -9,000 20.0 USD American 18/12/2026 | Common Call Option Sold -2,400 2.5 USD American 21/08/2026 | Common Call Option Sold -3,200 5.0 USD American 19/02/2027 | Common Call Option Sold -500 5.0 USD American 20/11/2026 | 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 Put Option Sold 36,000 2.5 USD American 17/07/2026 | Common Call Option Sold -5,100 5.0 USD American 18/12/2026 | Common Call Option Sold -800 2.5 USD American 19/02/2027 | 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 -600 2.5 USD American 18/12/2026 | Common Put Option Sold 2,900 5.0 USD American 18/12/2026 |
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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