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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 10 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 787,590 1.05 71,937 0.09 | (2) Cash-settled derivatives 0 0.00 0 0.00 | (3) Stock-settled derivatives (including options) and agreements to purchase/ sell 164,200 0.21 51,800 0.06 | Total 951,790 1.27 123,737 0.16 |
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 2 4.1100 USD | Common Buy Transaction 10 4.1200 USD | Common Buy Transaction 50 4.1728 USD | Common Buy Transaction 600 4.1875 USD | Common Buy Transaction 500 4.1900 USD | Common Buy Transaction 418 4.2000 USD | Common Buy Transaction 1,074 4.2037 USD | Common Buy Transaction 500 4.2100 USD | Common Buy Transaction 1,391 4.2116 USD | Common Buy Transaction 485 4.2152 USD | Common Buy Transaction 4,514 4.2152 USD | Common Buy Transaction 12 4.2167 USD | Common Buy Transaction 1,100 4.2173 USD | Common Buy Transaction 102 4.2218 USD | Common Buy Transaction 2 4.2300 USD | Common Buy Transaction 708 4.2327 USD | Common Buy Transaction 679 4.2329 USD | Common Buy Transaction 638 4.2356 USD | Common Buy Transaction 425 4.2362 USD | Common Buy Transaction 6,202 4.2382 USD | Common Buy Transaction 362 4.2400 USD | Common Buy Transaction 956 4.2463 USD | Common Buy Transaction 44 4.2464 USD | Common Buy Transaction 433 4.2480 USD | Common Buy Transaction 1,596 4.2500 USD | Common Buy Transaction 1,200 4.2501 USD | Common Buy Transaction 1,356 4.2564 USD | Common Buy Transaction 400 4.2575 USD | Common Buy Transaction 50 4.2600 USD | Common Buy Transaction 3,900 4.2633 USD | Common Buy Transaction 838 4.2634 USD | Common Buy Transaction 2,427 4.2662 USD | Common Buy Transaction 300 4.2667 USD | Common Buy Transaction 6,492 4.2673 USD | Common Buy Transaction 2,541 4.2698 USD | Common Buy Transaction 1,377 4.2700 USD | Common Buy Transaction 705 4.2701 USD | Common Buy Transaction 1,600 4.2703 USD | Common Buy Transaction 276 4.2728 USD | Common Buy Transaction 700 4.2729 USD | Common Buy Transaction 440 4.2736 USD | Common Buy Transaction 176 4.2757 USD | Common Buy Transaction 1,269 4.2760 USD | Common Buy Transaction 966 4.2770 USD | Common Buy Transaction 170 4.2794 USD | Common Buy Transaction 2,915 4.2800 USD | Common Buy Transaction 9,075 4.2806 USD | Common Buy Transaction 515 4.2807 USD | Common Buy Transaction 8,307 4.2821 USD | Common Buy Transaction 936 4.2823 USD | Common Buy Transaction 2,174 4.2830 USD | Common Buy Transaction 500 4.2840 USD | Common Buy Transaction 2,200 4.2858 USD | Common Buy Transaction 612 4.2873 USD | Common Buy Transaction 1,917 4.2900 USD | Common Buy Transaction 210 4.2905 USD | Common Buy Transaction 640 4.2905 USD | Common Buy Transaction 1,963 4.2907 USD | Common Buy Transaction 110 4.2912 USD | Common Buy Transaction 3,048 4.2915 USD | Common Buy Transaction 7,429 4.2925 USD | Common Buy Transaction 124 4.2928 USD | Common Buy Transaction 1,446 4.2930 USD | Common Buy Transaction 250 4.2930 USD | Common Buy Transaction 1,140 4.2934 USD | Common Buy Transaction 654 4.3000 USD | Common Buy Transaction 700 4.3043 USD | Common Buy Transaction 2,962 4.3044 USD | Common Buy Transaction 4 4.3050 USD | Common Buy Transaction 3 4.3067 USD | Common Buy Transaction 2,740 4.3093 USD | Common Buy Transaction 500 4.3100 USD | Common Buy Transaction 800 4.3125 USD | Common Buy Transaction 974 4.3131 USD | Common Buy Transaction 216 4.3156 USD | Common Buy Transaction 900 4.3200 USD | Common Buy Transaction 101 4.3208 USD | Common Buy Transaction 86 4.3247 USD | Common Buy Transaction 500 4.3252 USD | Common Buy Transaction 582 4.3300 USD | Common Buy Transaction 150 4.3341 USD | Common Buy Transaction 435 4.3349 USD | Common Buy Transaction 2,448 4.3350 USD | Common Buy Transaction 600 4.3367 USD | Common Buy Transaction 2,200 4.3400 USD | Common Buy Transaction 2,557 4.3425 USD | Common Buy Transaction 78 4.3500 USD | Common Buy Transaction 1,365 4.3540 USD | Common Buy Transaction 2,343 4.3541 USD | Common Buy Transaction 824 4.3573 USD | Common Buy Transaction 300 4.3600 USD | Common Buy Transaction 2,562 4.3623 USD | Common Buy Transaction 119 4.3638 USD | Common Buy Transaction 300 4.3650 USD | Common Buy Transaction 156 4.3653 USD | Common Buy Transaction 664 4.3690 USD | Common Buy Transaction 5,900 4.3840 USD | Common Buy Transaction 1,302 4.3898 USD | Common Buy Transaction 100 4.3900 USD | Common Buy Transaction 621 4.4053 USD | Common Buy Transaction 593 4.4277 USD | Common Buy Transaction 22 4.4300 USD | Common Buy Transaction 1,289 4.4481 USD | Common Buy Transaction 846 4.4504 USD | Common Buy Transaction 1,935 4.4888 USD | Common Buy Transaction 228 4.5044 USD | Common Buy Transaction 1,832 4.5453 USD | Common Buy Transaction 310 4.6361 USD | Common Buy Transaction 50 4.7800 USD | Common Buy Transaction 100 4.7900 USD | Common Buy Transaction 100 4.8000 USD | Common Sell Transaction 1,369 4.2900 USD | Common Sell Transaction 172 4.2000 USD | Common Sell Transaction 1 4.2100 USD | Common Sell Transaction 510 4.2104 USD | Common Sell Transaction 187 4.2139 USD | Common Sell Transaction 4 4.2150 USD | Common Sell Transaction 266 4.2300 USD | Common Sell Transaction 1,215 4.2310 USD | Common Sell Transaction 2,699 4.2321 USD | Common Sell Transaction 171 4.2337 USD | Common Sell Transaction 4 4.2350 USD | Common Sell Transaction 7 4.2386 USD | Common Sell Transaction 449 4.2391 USD | Common Sell Transaction 1,874 4.2400 USD | Common Sell Transaction 156 4.2488 USD | Common Sell Transaction 110 4.2500 USD | Common Sell Transaction 1,652 4.2500 USD | Common Sell Transaction 176 4.2589 USD | Common Sell Transaction 956 4.2620 USD | Common Sell Transaction 110 4.2650 USD | Common Sell Transaction 103 4.2683 USD | Common Sell Transaction 1,801 4.2700 USD | Common Sell Transaction 318 4.2708 USD | Common Sell Transaction 981 4.2709 USD | Common Sell Transaction 1,900 4.2721 USD | Common Sell Transaction 1,064 4.2741 USD | Common Sell Transaction 3,216 4.2746 USD | Common Sell Transaction 42 4.2750 USD | Common Sell Transaction 34 4.2753 USD | Common Sell Transaction 7 4.2757 USD | Common Sell Transaction 954 4.2773 USD | Common Sell Transaction 1 4.2800 USD | Common Sell Transaction 70 4.2846 USD | Common Sell Transaction 10,264 4.2868 USD | Common Sell Transaction 2,208 4.2889 USD | Common Sell Transaction 575 4.2891 USD | Common Sell Transaction 3,656 4.2900 USD | Common Sell Transaction 1,470 4.2907 USD | Common Sell Transaction 1,000 4.2948 USD | Common Sell Transaction 1,535 4.2969 USD | Common Sell Transaction 401 4.2973 USD | Common Sell Transaction 617 4.3000 USD | Common Sell Transaction 1,379 4.3043 USD | Common Sell Transaction 4 4.3050 USD | Common Sell Transaction 1,808 4.3076 USD | Common Sell Transaction 7,361 4.3079 USD | Common Sell Transaction 841 4.3100 USD | Common Sell Transaction 47 4.3113 USD | Common Sell Transaction 525 4.3117 USD | Common Sell Transaction 23 4.3117 USD | Common Sell Transaction 11 4.3127 USD | Common Sell Transaction 438 4.3128 USD | Common Sell Transaction 1,078 4.3130 USD | Common Sell Transaction 21 4.3138 USD | Common Sell Transaction 138 4.3141 USD | Common Sell Transaction 1 4.3200 USD | Common Sell Transaction 282 4.3217 USD | Common Sell Transaction 427 4.3242 USD | Common Sell Transaction 309 4.3246 USD | Common Sell Transaction 1,301 4.3254 USD | Common Sell Transaction 1,789 4.3278 USD | Common Sell Transaction 468 4.3285 USD | Common Sell Transaction 1,000 4.3290 USD | Common Sell Transaction 1,685 4.3293 USD | Common Sell Transaction 910 4.3300 USD | Common Sell Transaction 1,179 4.3306 USD | Common Sell Transaction 368 4.3314 USD | Common Sell Transaction 2,448 4.3350 USD | Common Sell Transaction 400 4.3400 USD | Common Sell Transaction 536 4.3488 USD | Common Sell Transaction 1,790 4.3500 USD | Common Sell Transaction 580 4.3517 USD | Common Sell Transaction 1,962 4.3569 USD | Common Sell Transaction 824 4.3573 USD | Common Sell Transaction 700 4.3643 USD | Common Sell Transaction 300 4.3667 USD | Common Sell Transaction 201 4.3700 USD | Common Sell Transaction 2,434 4.3738 USD | Common Sell Transaction 400 4.3775 USD | Common Sell Transaction 552 4.3800 USD | Common Sell Transaction 18 4.3867 USD | Common Sell Transaction 3,047 4.3880 USD | Common Sell Transaction 100 4.3900 USD | Common Sell Transaction 96 4.4044 USD | Common Sell Transaction 11,925 4.4131 USD | Common Sell Transaction 170 4.4224 USD | Common Sell Transaction 2,804 4.4241 USD | Common Sell Transaction 1,865 4.4259 USD | Common Sell Transaction 298 4.4371 USD | Common Sell Transaction 270 4.4463 USD | Common Sell Transaction 115 4.4714 USD | Common Sell Transaction 21 4.4714 USD | Common Sell Transaction 77 4.5000 USD | Common Sell Transaction 77 4.5184 USD | Common Sell Transaction 100 4.5400 USD | Common Sell Transaction 100 4.5450 USD | Common Sell Transaction 2,403 4.5979 USD | Common Sell Transaction 15 4.6200 USD | Common Sell Transaction 200 4.6600 USD | Common Sell Transaction 1 4.7400 USD | Common Sell Transaction 41 4.7512 USD | Common Sell Transaction 720 4.7674 USD | Common Sell Transaction 22 4.7700 USD | Common Sell Transaction 1,868 4.7857 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 Common | Product description e.g. call option Call Option | Writing, purchasing, selling, varying etc. Buy Transaction | Number of securities to which option relates (Note 6) 1,600 | Exercise price per unit 5.0000 USD | Type e.g. American, European etc. American | Expiry date 2026-11-20 | Option money paid/ received per unit 0.8000 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 13 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 44,000 10.0 USD American 18/12/2026 | Common Put Option Purchased -300 7.5 USD American 19/02/2027 | Common Call Option Purchased 1,700 10.0 USD American 21/08/2026 | Common Call Option Purchased 800 5.0 USD American 17/07/2026 | Common Call Option Purchased 21,200 10.0 USD American 20/11/2026 | Common Put Option Purchased -100 2.5 USD American 21/08/2026 | Common Put Option Purchased -7,600 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 Call Option Purchased 200 17.5 USD American 18/12/2026 | Common Call Option Purchased 0 2.5 USD American 17/07/2026 | Common Call Option Purchased 1,100 5.0 USD American 20/11/2026 | Common Put Option Purchased -2,700 5.0 USD American 21/08/2026 | Common Put Option Purchased -800 7.5 USD American 21/08/2026 | 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 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 Sold -500 10.0 USD American 19/02/2027 | Common Call Option Sold -3,200 5.0 USD American 19/02/2027 | Common Put Option Sold 36,000 2.5 USD American 17/07/2026 | 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 -600 2.5 USD American 18/12/2026 | Common Call Option Sold -9,100 7.5 USD American 18/12/2026 | Common Put Option Sold 2,900 5.0 USD American 18/12/2026 | Common Call Option Sold -300 7.5 USD American 21/08/2026 | Common Call Option Sold -3,000 7.5 USD American 20/11/2026 | Common Call Option Sold -200 15.0 USD American 18/12/2026 | 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 |
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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