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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 9 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 789,840 1.05 106,557 0.14 | (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 952,940 1.27 158,857 0.21 |
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 60 4.0327 USD | Common Buy Transaction 900 4.0501 USD | Common Buy Transaction 3,548 4.0700 USD | Common Buy Transaction 163 4.0732 USD | Common Buy Transaction 402 4.0750 USD | Common Buy Transaction 650 4.0782 USD | Common Buy Transaction 600 4.0783 USD | Common Buy Transaction 660 4.0785 USD | Common Buy Transaction 1,727 4.0787 USD | Common Buy Transaction 321 4.0800 USD | Common Buy Transaction 3,365 4.0802 USD | Common Buy Transaction 506 4.0807 USD | Common Buy Transaction 240 4.0814 USD | Common Buy Transaction 1,825 4.0872 USD | Common Buy Transaction 779 4.0872 USD | Common Buy Transaction 386 4.0881 USD | Common Buy Transaction 520 4.0885 USD | Common Buy Transaction 310 4.0889 USD | Common Buy Transaction 739 4.0889 USD | Common Buy Transaction 1,180 4.0900 USD | Common Buy Transaction 4,007 4.0903 USD | Common Buy Transaction 308 4.0917 USD | Common Buy Transaction 549 4.0921 USD | Common Buy Transaction 509 4.0921 USD | Common Buy Transaction 255 4.0925 USD | Common Buy Transaction 1,923 4.0934 USD | Common Buy Transaction 3,637 4.0938 USD | Common Buy Transaction 538 4.0944 USD | Common Buy Transaction 418 4.0950 USD | Common Buy Transaction 8,810 4.0954 USD | Common Buy Transaction 1,080 4.0962 USD | Common Buy Transaction 300 4.0967 USD | Common Buy Transaction 296 4.0970 USD | Common Buy Transaction 326 4.0985 USD | Common Buy Transaction 400 4.0998 USD | Common Buy Transaction 4,390 4.1000 USD | Common Buy Transaction 4,033 4.1000 USD | Common Buy Transaction 700 4.1001 USD | Common Buy Transaction 304 4.1001 USD | Common Buy Transaction 15 4.1007 USD | Common Buy Transaction 100 4.1013 USD | Common Buy Transaction 20 4.1015 USD | Common Buy Transaction 985 4.1017 USD | Common Buy Transaction 5,700 4.1021 USD | Common Buy Transaction 255 4.1022 USD | Common Buy Transaction 1,500 4.1027 USD | Common Buy Transaction 1,994 4.1038 USD | Common Buy Transaction 5 4.1040 USD | Common Buy Transaction 704 4.1043 USD | Common Buy Transaction 253 4.1047 USD | Common Buy Transaction 1,240 4.1050 USD | Common Buy Transaction 1,421 4.1057 USD | Common Buy Transaction 7,120 4.1058 USD | Common Buy Transaction 300 4.1067 USD | Common Buy Transaction 2,348 4.1078 USD | Common Buy Transaction 775 4.1088 USD | Common Buy Transaction 418 4.1096 USD | Common Buy Transaction 21,216 4.1100 USD | Common Buy Transaction 300 4.1133 USD | Common Buy Transaction 300 4.1167 USD | Common Buy Transaction 116 4.1200 USD | Common Buy Transaction 869 4.1207 USD | Common Buy Transaction 300 4.1233 USD | Common Buy Transaction 619 4.1277 USD | Common Buy Transaction 25 4.1300 USD | Common Buy Transaction 181 4.1369 USD | Common Buy Transaction 936 4.1371 USD | Common Buy Transaction 600 4.1617 USD | Common Buy Transaction 301 4.1897 USD | Common Buy Transaction 1,100 4.1900 USD | Common Sell Transaction 309 4.1100 USD | Common Sell Transaction 515 4.0400 USD | Common Sell Transaction 161 4.0500 USD | Common Sell Transaction 274 4.0577 USD | Common Sell Transaction 505 4.0600 USD | Common Sell Transaction 1,489 4.0640 USD | Common Sell Transaction 1,460 4.0662 USD | Common Sell Transaction 518 4.0678 USD | Common Sell Transaction 343 4.0683 USD | Common Sell Transaction 22 4.0691 USD | Common Sell Transaction 199 4.0691 USD | Common Sell Transaction 734 4.0700 USD | Common Sell Transaction 287 4.0731 USD | Common Sell Transaction 246 4.0750 USD | Common Sell Transaction 1,727 4.0787 USD | Common Sell Transaction 10,363 4.0800 USD | Common Sell Transaction 96 4.0804 USD | Common Sell Transaction 1,203 4.0824 USD | Common Sell Transaction 896 4.0834 USD | Common Sell Transaction 1,625 4.0836 USD | Common Sell Transaction 5 4.0860 USD | Common Sell Transaction 1,267 4.0868 USD | Common Sell Transaction 400 4.0875 USD | Common Sell Transaction 210 4.0886 USD | Common Sell Transaction 7,203 4.0900 USD | Common Sell Transaction 501 4.0900 USD | Common Sell Transaction 85 4.0924 USD | Common Sell Transaction 628 4.0924 USD | Common Sell Transaction 1,286 4.0949 USD | Common Sell Transaction 1,140 4.0949 USD | Common Sell Transaction 400 4.0950 USD | Common Sell Transaction 114 4.0957 USD | Common Sell Transaction 6,638 4.0984 USD | Common Sell Transaction 146 4.0987 USD | Common Sell Transaction 331 4.0992 USD | Common Sell Transaction 524 4.0995 USD | Common Sell Transaction 1,608 4.0996 USD | Common Sell Transaction 609 4.0997 USD | Common Sell Transaction 661 4.0998 USD | Common Sell Transaction 1,016 4.1000 USD | Common Sell Transaction 2,000 4.1025 USD | Common Sell Transaction 6,016 4.1033 USD | Common Sell Transaction 1,000 4.1040 USD | Common Sell Transaction 713 4.1041 USD | Common Sell Transaction 1,809 4.1046 USD | Common Sell Transaction 350 4.1047 USD | Common Sell Transaction 364 4.1054 USD | Common Sell Transaction 377 4.1061 USD | Common Sell Transaction 75 4.1081 USD | Common Sell Transaction 15 4.1093 USD | Common Sell Transaction 21,644 4.1100 USD | Common Sell Transaction 911 4.1136 USD | Common Sell Transaction 202 4.1150 USD | Common Sell Transaction 7,215 4.1197 USD | Common Sell Transaction 425 4.1240 USD | Common Sell Transaction 900 4.1244 USD | Common Sell Transaction 930 4.1253 USD | Common Sell Transaction 805 4.1269 USD | Common Sell Transaction 1,093 4.1272 USD | Common Sell Transaction 6,528 4.1300 USD | Common Sell Transaction 1,000 4.1305 USD | Common Sell Transaction 300 4.1350 USD | Common Sell Transaction 968 4.1353 USD | Common Sell Transaction 35 4.1380 USD | Common Sell Transaction 100 4.1600 USD | Common Sell Transaction 282 4.1666 USD | Common Sell Transaction 23 4.1700 USD | Common Sell Transaction 2,446 4.1800 USD | Common Sell Transaction 11,984 4.1900 USD | Common Sell Transaction 10 4.2200 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
(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 10 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 Call Option Purchased 44,000 10.0 USD American 18/12/2026 | Common Put Option Purchased -100 2.5 USD American 21/08/2026 | 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 -2,500 7.5 USD American 18/12/2026 | Common Call Option Purchased 5,800 5.0 USD American 21/08/2026 | Common Call Option Purchased 1,700 10.0 USD American 21/08/2026 | Common Put Option Purchased -2,700 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 -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 10.0 USD American 21/08/2026 | Common Put Option Purchased -300 7.5 USD American 19/02/2027 | Common Call Option Purchased 0 2.5 USD American 17/07/2026 | Common Put Option Purchased -800 7.5 USD American 21/08/2026 | Common Call Option Purchased 21,200 10.0 USD American 20/11/2026 | Common Call Option Sold -500 5.0 USD American 20/11/2026 | Common Call Option Sold -800 2.5 USD American 19/02/2027 | Common Call Option Sold -3,000 7.5 USD American 20/11/2026 | Common Put Option Sold 2,900 5.0 USD American 18/12/2026 | Common Call Option Sold -3,200 5.0 USD American 19/02/2027 | 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 -300 7.5 USD American 21/08/2026 | Common Call Option Sold -500 10.0 USD American 19/02/2027 | Common Call Option Sold -2,400 2.5 USD American 21/08/2026 | Common Call Option Sold -9,100 7.5 USD American 18/12/2026 | Common Call Option Sold -200 15.0 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 |
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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