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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 14 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 785,784 1.05 79,714 0.10 | (2) Cash-settled derivatives 0 0.00 0 0.00 | (3) Stock-settled derivatives (including options) and agreements to purchase/ sell 158,000 0.21 56,100 0.07 | Total 943,784 1.26 135,814 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 250 3.9700 USD | Common Buy Transaction 2 4.0550 USD | Common Buy Transaction 55 4.1300 USD | Common Buy Transaction 200 4.1600 USD | Common Buy Transaction 1,000 4.1955 USD | Common Buy Transaction 5 4.2100 USD | Common Buy Transaction 62 4.2200 USD | Common Buy Transaction 240 4.2650 USD | Common Buy Transaction 118 4.2675 USD | Common Buy Transaction 50 4.3100 USD | Common Buy Transaction 5,727 4.3289 USD | Common Buy Transaction 167 4.3328 USD | Common Buy Transaction 39 4.3651 USD | Common Buy Transaction 1,060 4.3694 USD | Common Buy Transaction 180 4.3800 USD | Common Buy Transaction 206 4.3900 USD | Common Buy Transaction 122 4.3909 USD | Common Buy Transaction 300 4.3917 USD | Common Buy Transaction 500 4.4000 USD | Common Buy Transaction 1,674 4.4026 USD | Common Buy Transaction 22,549 4.4064 USD | Common Buy Transaction 50 4.4100 USD | Common Buy Transaction 2,363 4.4124 USD | Common Buy Transaction 1,125 4.4146 USD | Common Buy Transaction 200 4.4200 USD | Common Buy Transaction 400 4.4250 USD | Common Buy Transaction 505 4.4300 USD | Common Buy Transaction 3,252 4.4309 USD | Common Buy Transaction 2 4.4400 USD | Common Buy Transaction 1,100 4.4455 USD | Common Buy Transaction 47 4.4519 USD | Common Buy Transaction 1,014 4.4543 USD | Common Buy Transaction 168 4.4621 USD | Common Buy Transaction 3,011 4.4648 USD | Common Buy Transaction 700 4.4686 USD | Common Buy Transaction 2,290 4.4694 USD | Common Buy Transaction 1 4.4700 USD | Common Buy Transaction 2,930 4.4705 USD | Common Buy Transaction 1,290 4.4706 USD | Common Buy Transaction 1,888 4.4753 USD | Common Buy Transaction 4 4.4825 USD | Common Buy Transaction 104 4.4827 USD | Common Buy Transaction 7,270 4.4872 USD | Common Buy Transaction 2,748 4.4917 USD | Common Buy Transaction 1,850 4.4929 USD | Common Buy Transaction 300 4.4933 USD | Common Buy Transaction 800 4.4950 USD | Common Buy Transaction 300 4.4967 USD | Common Buy Transaction 802 4.4992 USD | Common Buy Transaction 1,612 4.5000 USD | Common Buy Transaction 1,288 4.5010 USD | Common Buy Transaction 334 4.5028 USD | Common Buy Transaction 1,387 4.5076 USD | Common Buy Transaction 309 4.5086 USD | Common Buy Transaction 124 4.5100 USD | Common Buy Transaction 5,274 4.5101 USD | Common Buy Transaction 4,567 4.5101 USD | Common Buy Transaction 761 4.5123 USD | Common Buy Transaction 180 4.5126 USD | Common Buy Transaction 206 4.5150 USD | Common Buy Transaction 1,570 4.5154 USD | Common Buy Transaction 2,289 4.5157 USD | Common Buy Transaction 1,958 4.5200 USD | Common Buy Transaction 175 4.5210 USD | Common Buy Transaction 925 4.5254 USD | Common Buy Transaction 1,434 4.5266 USD | Common Buy Transaction 300 4.5267 USD | Common Buy Transaction 214 4.5275 USD | Common Buy Transaction 525 4.5281 USD | Common Buy Transaction 850 4.5300 USD | Common Buy Transaction 823 4.5303 USD | Common Buy Transaction 450 4.5304 USD | Common Buy Transaction 1,500 4.5307 USD | Common Buy Transaction 1,071 4.5311 USD | Common Buy Transaction 24 4.5312 USD | Common Buy Transaction 802 4.5313 USD | Common Buy Transaction 7 4.5314 USD | Common Buy Transaction 300 4.5333 USD | Common Buy Transaction 267 4.5335 USD | Common Buy Transaction 1,100 4.5350 USD | Common Buy Transaction 1,700 4.5360 USD | Common Buy Transaction 706 4.5370 USD | Common Buy Transaction 4 4.5375 USD | Common Buy Transaction 1,368 4.5393 USD | Common Buy Transaction 30,683 4.5400 USD | Common Buy Transaction 3,553 4.5415 USD | Common Buy Transaction 3,776 4.5417 USD | Common Buy Transaction 300 4.5417 USD | Common Buy Transaction 610 4.5446 USD | Common Buy Transaction 1,270 4.5450 USD | Common Buy Transaction 119 4.5450 USD | Common Buy Transaction 51 4.5451 USD | Common Buy Transaction 1,046 4.5500 USD | Common Buy Transaction 452 4.5501 USD | Common Buy Transaction 7,042 4.5526 USD | Common Buy Transaction 23 4.5552 USD | Common Buy Transaction 23 4.5600 USD | Common Buy Transaction 262 4.5685 USD | Common Buy Transaction 1,100 4.5800 USD | Common Buy Transaction 25 4.5900 USD | Common Buy Transaction 5,620 4.5400 USD | Common Sell Transaction 75 4.1200 USD | Common Sell Transaction 300 4.1396 USD | Common Sell Transaction 39 4.1403 USD | Common Sell Transaction 2,461 4.1403 USD | Common Sell Transaction 192 4.1433 USD | Common Sell Transaction 2 4.1700 USD | Common Sell Transaction 104 4.1888 USD | Common Sell Transaction 1,000 4.1955 USD | Common Sell Transaction 771 4.2000 USD | Common Sell Transaction 1,300 4.2092 USD | Common Sell Transaction 7,000 4.2200 USD | Common Sell Transaction 14,013 4.2500 USD | Common Sell Transaction 100 4.2600 USD | Common Sell Transaction 112 4.2602 USD | Common Sell Transaction 106 4.2668 USD | Common Sell Transaction 85 4.2700 USD | Common Sell Transaction 185 4.2855 USD | Common Sell Transaction 1 4.2900 USD | Common Sell Transaction 2,933 4.3100 USD | Common Sell Transaction 1 4.3200 USD | Common Sell Transaction 100 4.3300 USD | Common Sell Transaction 4,086 4.3368 USD | Common Sell Transaction 505 4.3506 USD | Common Sell Transaction 1,636 4.3653 USD | Common Sell Transaction 314 4.3692 USD | Common Sell Transaction 300 4.3700 USD | Common Sell Transaction 125 4.3750 USD | Common Sell Transaction 8,500 4.3780 USD | Common Sell Transaction 377 4.3808 USD | Common Sell Transaction 163 4.3858 USD | Common Sell Transaction 200 4.3900 USD | Common Sell Transaction 100 4.4050 USD | Common Sell Transaction 907 4.4073 USD | Common Sell Transaction 100 4.4100 USD | Common Sell Transaction 2,423 4.4113 USD | Common Sell Transaction 148 4.4154 USD | Common Sell Transaction 9,600 4.4363 USD | Common Sell Transaction 100 4.4386 USD | Common Sell Transaction 500 4.4400 USD | Common Sell Transaction 2,271 4.4510 USD | Common Sell Transaction 1,905 4.4534 USD | Common Sell Transaction 700 4.4543 USD | Common Sell Transaction 49 4.4555 USD | Common Sell Transaction 2,443 4.4612 USD | Common Sell Transaction 2,892 4.4682 USD | Common Sell Transaction 300 4.4700 USD | Common Sell Transaction 1,900 4.4700 USD | Common Sell Transaction 1,848 4.4731 USD | Common Sell Transaction 1,702 4.4750 USD | Common Sell Transaction 35,633 4.4800 USD | Common Sell Transaction 500 4.4860 USD | Common Sell Transaction 4,350 4.4875 USD | Common Sell Transaction 700 4.4900 USD | Common Sell Transaction 538 4.4901 USD | Common Sell Transaction 1,100 4.4964 USD | Common Sell Transaction 7,344 4.5000 USD | Common Sell Transaction 449 4.5002 USD | Common Sell Transaction 959 4.5006 USD | Common Sell Transaction 1,115 4.5100 USD | Common Sell Transaction 22 4.5182 USD | Common Sell Transaction 4,449 4.5195 USD | Common Sell Transaction 100 4.5200 USD | Common Sell Transaction 2,300 4.5210 USD | Common Sell Transaction 2,491 4.5287 USD | Common Sell Transaction 527 4.5300 USD | Common Sell Transaction 2,144 4.5344 USD | Common Sell Transaction 2 4.5350 USD | Common Sell Transaction 31 4.5352 USD | Common Sell Transaction 11 4.5355 USD | Common Sell Transaction 1,700 4.5360 USD | Common Sell Transaction 17,296 4.5400 USD | Common Sell Transaction 239 4.5487 USD | Common Sell Transaction 144 4.5494 USD | Common Sell Transaction 2,607 4.5500 USD | Common Sell Transaction 1,085 4.5502 USD | Common Sell Transaction 125 4.5520 USD | Common Sell Transaction 200 4.5525 USD | Common Sell Transaction 500 4.5530 USD | Common Sell Transaction 300 4.5533 USD | Common Sell Transaction 700 4.5536 USD | Common Sell Transaction 742 4.5540 USD | Common Sell Transaction 700 4.5543 USD | Common Sell Transaction 1,400 4.5550 USD | Common Sell Transaction 400 4.5600 USD | Common Sell Transaction 200 4.5700 USD | Common Sell Transaction 1,000 4.5750 USD | Common Sell Transaction 11 4.5855 USD | Common Sell Transaction 5,242 4.5872 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 Buy Transaction 500 10.0000 USD American 2026-11-20 0.3500 USD | Common Call Option Buy Transaction 100 5.0000 USD American 2026-08-21 0.4000 USD | Common Call Option Buy Transaction 100 7.5000 USD American 2027-02-19 0.8700 USD | Common Call Option Sell Transaction 1,500 5.0000 USD American 2026-11-20 1.1500 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 15 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 100 7.5 USD American 19/02/2027 | Common Put Option Purchased -100 2.5 USD American 21/08/2026 | Common Call Option Purchased 1,700 10.0 USD American 21/08/2026 | Common Put Option Purchased -2,800 5.0 USD American 21/08/2026 | Common Put Option Purchased -300 7.5 USD American 19/02/2027 | Common Call Option Purchased 50,500 20.0 USD American 21/08/2026 | Common Put Option Purchased -900 2.5 USD American 18/12/2026 | Common Call Option Purchased 44,000 10.0 USD American 18/12/2026 | Common Put Option Purchased -2,300 5.0 USD American 20/11/2026 | Common Put Option Purchased -7,600 5.0 USD American 17/07/2026 | Common Call Option Purchased 200 17.5 USD American 18/12/2026 | Common Call Option Purchased 800 5.0 USD American 17/07/2026 | Common Call Option Purchased 0 2.5 USD American 17/07/2026 | Common Call Option Purchased 21,800 10.0 USD American 20/11/2026 | Common Put Option Purchased -300 10.0 USD American 18/12/2026 | Common Put Option Purchased -2,500 7.5 USD American 18/12/2026 | Common Put Option Purchased -100 10.0 USD American 21/08/2026 | Common Put Option Purchased -800 7.5 USD American 21/08/2026 | Common Call Option Sold -400 5.0 USD American 20/11/2026 | Common Call Option Sold -300 7.5 USD American 21/08/2026 | Common Call Option Sold -3,900 5.0 USD American 21/08/2026 | 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 -500 10.0 USD American 19/02/2027 | Common Call Option Sold -600 2.5 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 | 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 -200 15.0 USD American 18/12/2026 | Common Call Option Sold -3,100 5.0 USD American 19/02/2027 | Common Call Option Sold -9,100 7.5 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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