18th Nov 2025 15:00
Ap27
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 | AVADEL PHARMACEUTICALS PLC |
(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 | 17 November 2025 |
(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" | N/A
|
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.
Ap28
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) | Common Stock ISIN IE00BDGMC594 $0.01 ordinary shares | |||
Interests | Short positions | |||
Number | % | Number | % | |
(1) Relevant securities owned and/or controlled | 1,865,233 | 1.90 | 336,846 | 0.34 |
(2) Cash-settled derivatives | 0 | 0.00 | 0 | 0.00 |
(3) Stock-settled derivatives (including options) and agreements to purchase/ sell | 172,000 | 0.17 | 1,426,800 | 1.46 |
Total | 2,037,233 | 2.08 | 1,763,646 | 1.80 |
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 relevantsecurity | Purchase/sale | Number ofsecurities | Price per unit (Note 5) |
Common | Buy Transaction | 13 | 22.8669 USD |
Common | Buy Transaction | 19 | 22.8800 USD |
Common | Buy Transaction | 128 | 22.8840 USD |
Common | Buy Transaction | 1 | 22.9300 USD |
Common | Buy Transaction | 257 | 22.9323 USD |
Common | Buy Transaction | 1,166 | 22.9337 USD |
Common | Buy Transaction | 700 | 22.9379 USD |
Common | Buy Transaction | 1,006 | 22.9473 USD |
Common | Buy Transaction | 3,156 | 22.9488 USD |
Common | Buy Transaction | 200 | 22.9500 USD |
Common | Buy Transaction | 12 | 22.9550 USD |
Common | Buy Transaction | 21 | 22.9552 USD |
Common | Buy Transaction | 100 | 22.9600 USD |
Common | Buy Transaction | 950 | 22.9605 USD |
Common | Buy Transaction | 535 | 22.9650 USD |
Common | Buy Transaction | 73 | 22.9651 USD |
Common | Buy Transaction | 84 | 22.9693 USD |
Common | Buy Transaction | 1,963 | 22.9693 USD |
Common | Buy Transaction | 933 | 22.9700 USD |
Common | Buy Transaction | 95 | 22.9741 USD |
Common | Buy Transaction | 233 | 22.9741 USD |
Common | Buy Transaction | 20 | 22.9750 USD |
Common | Buy Transaction | 1,183 | 22.9760 USD |
Common | Buy Transaction | 5,600 | 22.9793 USD |
Common | Buy Transaction | 762 | 22.9797 USD |
Common | Buy Transaction | 500 | 22.9800 USD |
Common | Buy Transaction | 970 | 22.9822 USD |
Common | Buy Transaction | 35 | 22.9837 USD |
Common | Buy Transaction | 5 | 22.9840 USD |
Common | Buy Transaction | 200 | 22.9850 USD |
Common | Buy Transaction | 101 | 22.9850 USD |
Common | Buy Transaction | 312 | 22.9876 USD |
Common | Buy Transaction | 1,103 | 22.9877 USD |
Common | Buy Transaction | 1,707 | 22.9886 USD |
Common | Buy Transaction | 706 | 22.9890 USD |
Common | Buy Transaction | 35,474 | 22.9900 USD |
Common | Buy Transaction | 401 | 22.9900 USD |
Common | Buy Transaction | 234 | 22.9938 USD |
Common | Buy Transaction | 1,416 | 22.9979 USD |
Common | Buy Transaction | 525 | 22.9986 USD |
Common | Buy Transaction | 300 | 23.0000 USD |
Common | Buy Transaction | 771 | 23.0010 USD |
Common | Buy Transaction | 686 | 23.0074 USD |
Common | Buy Transaction | 4,266 | 23.0082 USD |
Common | Buy Transaction | 478 | 23.0091 USD |
Common | Buy Transaction | 436 | 23.0095 USD |
Common | Buy Transaction | 4 | 23.0100 USD |
Common | Buy Transaction | 92 | 23.0118 USD |
Common | Buy Transaction | 3,000 | 23.0140 USD |
Common | Buy Transaction | 11 | 23.0145 USD |
Common | Buy Transaction | 2,006 | 23.0156 USD |
Common | Buy Transaction | 4,346 | 23.0179 USD |
Common | Buy Transaction | 1,469 | 23.0200 USD |
Common | Buy Transaction | 108 | 23.0201 USD |
Common | Buy Transaction | 3,284 | 23.0207 USD |
Common | Buy Transaction | 29 | 23.0207 USD |
Common | Buy Transaction | 15 | 23.0220 USD |
Common | Buy Transaction | 5,024 | 23.0230 USD |
Common | Buy Transaction | 184 | 23.0232 USD |
Common | Buy Transaction | 6 | 23.0233 USD |
Common | Buy Transaction | 28 | 23.0236 USD |
Common | Buy Transaction | 396 | 23.0250 USD |
Common | Buy Transaction | 16 | 23.0256 USD |
Common | Buy Transaction | 7 | 23.0257 USD |
Common | Buy Transaction | 1,291 | 23.0263 USD |
Common | Buy Transaction | 11 | 23.0295 USD |
Common | Buy Transaction | 38,238 | 23.0300 USD |
Common | Buy Transaction | 79 | 23.0313 USD |
Common | Buy Transaction | 145 | 23.0328 USD |
Common | Buy Transaction | 1 | 23.0350 USD |
Common | Buy Transaction | 101 | 23.0350 USD |
Common | Buy Transaction | 21,420 | 23.0353 USD |
Common | Buy Transaction | 366 | 23.0360 USD |
Common | Buy Transaction | 14,539 | 23.0364 USD |
Common | Buy Transaction | 305 | 23.0367 USD |
Common | Buy Transaction | 5,723 | 23.0368 USD |
Common | Buy Transaction | 114 | 23.0375 USD |
Common | Buy Transaction | 1,751 | 23.0383 USD |
Common | Buy Transaction | 193 | 23.0390 USD |
Common | Buy Transaction | 144 | 23.0400 USD |
Common | Buy Transaction | 3,845 | 23.0436 USD |
Common | Buy Transaction | 425 | 23.0465 USD |
Common | Buy Transaction | 3,077 | 23.0492 USD |
Common | Buy Transaction | 644 | 23.0494 USD |
Common | Buy Transaction | 1 | 23.0500 USD |
Common | Buy Transaction | 12,344 | 23.0504 USD |
Common | Buy Transaction | 8,342 | 23.0516 USD |
Common | Buy Transaction | 2,124 | 23.0577 USD |
Common | Buy Transaction | 5,978 | 23.0580 USD |
Common | Buy Transaction | 148 | 23.0603 USD |
Common | Buy Transaction | 8 | 23.0637 USD |
Common | Buy Transaction | 3,198 | 23.0644 USD |
Common | Buy Transaction | 10,985 | 23.0658 USD |
Common | Buy Transaction | 177 | 23.0681 USD |
Common | Buy Transaction | 1,400 | 23.0681 USD |
Common | Buy Transaction | 170 | 23.0688 USD |
Common | Buy Transaction | 200 | 23.0710 USD |
Common | Buy Transaction | 9 | 23.0756 USD |
Common | Buy Transaction | 139 | 23.0800 USD |
Common | Buy Transaction | 1,151 | 23.0809 USD |
Common | Buy Transaction | 338 | 23.0809 USD |
Common | Buy Transaction | 200 | 23.0815 USD |
Common | Buy Transaction | 50 | 23.0823 USD |
Common | Buy Transaction | 188 | 23.0887 USD |
Common | Buy Transaction | 43 | 23.0900 USD |
Common | Buy Transaction | 774 | 23.0925 USD |
Common | Buy Transaction | 332 | 23.0989 USD |
Common | Buy Transaction | 56 | 23.1002 USD |
Common | Buy Transaction | 70 | 23.1050 USD |
Common | Buy Transaction | 179 | 23.1066 USD |
Common | Buy Transaction | 181 | 23.1077 USD |
Common | Buy Transaction | 67 | 23.1100 USD |
Common | Buy Transaction | 9,076 | 23.1101 USD |
Common | Buy Transaction | 25,000 | 23.1127 USD |
Common | Buy Transaction | 2 | 23.1150 USD |
Common | Buy Transaction | 925 | 23.1200 USD |
Common | Buy Transaction | 934 | 23.1219 USD |
Common | Buy Transaction | 690 | 23.1367 USD |
Common | Buy Transaction | 150 | 23.1390 USD |
Common | Buy Transaction | 750 | 23.1395 USD |
Common | Buy Transaction | 4,940 | 23.1436 USD |
Common | Buy Transaction | 116 | 23.1445 USD |
Common | Buy Transaction | 415 | 23.1473 USD |
Common | Buy Transaction | 371 | 23.1500 USD |
Common | Buy Transaction | 539 | 23.1540 USD |
Common | Buy Transaction | 1,460 | 23.1557 USD |
Common | Buy Transaction | 493 | 23.1584 USD |
Common | Buy Transaction | 251 | 23.1630 USD |
Common | Buy Transaction | 300 | 23.1650 USD |
Common | Buy Transaction | 497 | 23.1651 USD |
Common | Buy Transaction | 1,283 | 23.1677 USD |
Common | Buy Transaction | 19 | 23.1800 USD |
Common | Buy Transaction | 1,909 | 23.1813 USD |
Common | Buy Transaction | 525 | 23.1883 USD |
Common | Buy Transaction | 1,198 | 23.1886 USD |
Common | Buy Transaction | 461 | 23.1900 USD |
Common | Buy Transaction | 100 | 23.1910 USD |
Common | Buy Transaction | 23 | 23.1913 USD |
Common | Buy Transaction | 200 | 23.1950 USD |
Common | Buy Transaction | 2,100 | 23.2000 USD |
Common | Buy Transaction | 1,339 | 23.2047 USD |
Common | Buy Transaction | 5,546 | 23.2076 USD |
Common | Buy Transaction | 77 | 23.2186 USD |
Common | Buy Transaction | 191 | 23.2323 USD |
Common | Buy Transaction | 446 | 23.2425 USD |
Common | Buy Transaction | 8,800 | 23.2500 USD |
Common | Buy Transaction | 220 | 23.2520 USD |
Common | Buy Transaction | 11 | 23.2600 USD |
Common | Buy Transaction | 66 | 23.3000 USD |
Common | Buy Transaction | 35 | 23.3111 USD |
Common | Buy Transaction | 9 | 23.3422 USD |
Common | Buy Transaction | 520 | 23.3500 USD |
Common | Buy Transaction | 70 | 23.4033 USD |
Common | Buy Transaction | 65 | 23.4277 USD |
Common | Sell Transaction | 100 | 22.8750 USD |
Common | Sell Transaction | 100 | 22.9250 USD |
Common | Sell Transaction | 743 | 22.9288 USD |
Common | Sell Transaction | 709 | 22.9345 USD |
Common | Sell Transaction | 27 | 22.9400 USD |
Common | Sell Transaction | 14 | 22.9443 USD |
Common | Sell Transaction | 100 | 22.9450 USD |
Common | Sell Transaction | 11 | 22.9455 USD |
Common | Sell Transaction | 553 | 22.9470 USD |
Common | Sell Transaction | 440 | 22.9500 USD |
Common | Sell Transaction | 465 | 22.9503 USD |
Common | Sell Transaction | 79 | 22.9511 USD |
Common | Sell Transaction | 229 | 22.9515 USD |
Common | Sell Transaction | 100 | 22.9515 USD |
Common | Sell Transaction | 1,879 | 22.9527 USD |
Common | Sell Transaction | 200 | 22.9550 USD |
Common | Sell Transaction | 1,330 | 22.9581 USD |
Common | Sell Transaction | 3,852 | 22.9582 USD |
Common | Sell Transaction | 672 | 22.9585 USD |
Common | Sell Transaction | 150 | 22.9600 USD |
Common | Sell Transaction | 64 | 22.9608 USD |
Common | Sell Transaction | 2,817 | 22.9629 USD |
Common | Sell Transaction | 146 | 22.9629 USD |
Common | Sell Transaction | 995 | 22.9641 USD |
Common | Sell Transaction | 100 | 22.9644 USD |
Common | Sell Transaction | 700 | 22.9650 USD |
Common | Sell Transaction | 366 | 22.9652 USD |
Common | Sell Transaction | 100 | 22.9663 USD |
Common | Sell Transaction | 100 | 22.9669 USD |
Common | Sell Transaction | 110 | 22.9693 USD |
Common | Sell Transaction | 446 | 22.9700 USD |
Common | Sell Transaction | 100 | 22.9728 USD |
Common | Sell Transaction | 2,176 | 22.9744 USD |
Common | Sell Transaction | 703 | 22.9745 USD |
Common | Sell Transaction | 136 | 22.9746 USD |
Common | Sell Transaction | 200 | 22.9750 USD |
Common | Sell Transaction | 100 | 22.9755 USD |
Common | Sell Transaction | 2,400 | 22.9758 USD |
Common | Sell Transaction | 100 | 22.9768 USD |
Common | Sell Transaction | 81 | 22.9780 USD |
Common | Sell Transaction | 204 | 22.9800 USD |
Common | Sell Transaction | 100 | 22.9802 USD |
Common | Sell Transaction | 9 | 22.9833 USD |
Common | Sell Transaction | 3,058 | 22.9847 USD |
Common | Sell Transaction | 4,100 | 22.9850 USD |
Common | Sell Transaction | 600 | 22.9867 USD |
Common | Sell Transaction | 210 | 22.9900 USD |
Common | Sell Transaction | 5 | 22.9960 USD |
Common | Sell Transaction | 70 | 22.9964 USD |
Common | Sell Transaction | 3,524 | 22.9966 USD |
Common | Sell Transaction | 3,110 | 22.9966 USD |
Common | Sell Transaction | 600 | 22.9967 USD |
Common | Sell Transaction | 318 | 22.9979 USD |
Common | Sell Transaction | 124 | 22.9990 USD |
Common | Sell Transaction | 569 | 23.0000 USD |
Common | Sell Transaction | 330 | 23.0006 USD |
Common | Sell Transaction | 114 | 23.0006 USD |
Common | Sell Transaction | 749 | 23.0014 USD |
Common | Sell Transaction | 1,500 | 23.0017 USD |
Common | Sell Transaction | 690 | 23.0017 USD |
Common | Sell Transaction | 2,425 | 23.0036 USD |
Common | Sell Transaction | 404 | 23.0048 USD |
Common | Sell Transaction | 100 | 23.0050 USD |
Common | Sell Transaction | 154 | 23.0065 USD |
Common | Sell Transaction | 12 | 23.0067 USD |
Common | Sell Transaction | 380 | 23.0084 USD |
Common | Sell Transaction | 210 | 23.0086 USD |
Common | Sell Transaction | 430 | 23.0087 USD |
Common | Sell Transaction | 1,098 | 23.0096 USD |
Common | Sell Transaction | 4 | 23.0100 USD |
Common | Sell Transaction | 232 | 23.0101 USD |
Common | Sell Transaction | 3,384 | 23.0111 USD |
Common | Sell Transaction | 300 | 23.0117 USD |
Common | Sell Transaction | 1,313 | 23.0120 USD |
Common | Sell Transaction | 3,285 | 23.0147 USD |
Common | Sell Transaction | 628 | 23.0168 USD |
Common | Sell Transaction | 1,400 | 23.0179 USD |
Common | Sell Transaction | 296 | 23.0184 USD |
Common | Sell Transaction | 7,988 | 23.0200 USD |
Common | Sell Transaction | 2,561 | 23.0209 USD |
Common | Sell Transaction | 516 | 23.0222 USD |
Common | Sell Transaction | 56 | 23.0246 USD |
Common | Sell Transaction | 1,400 | 23.0250 USD |
Common | Sell Transaction | 728 | 23.0255 USD |
Common | Sell Transaction | 301 | 23.0264 USD |
Common | Sell Transaction | 2,118 | 23.0270 USD |
Common | Sell Transaction | 1,241 | 23.0274 USD |
Common | Sell Transaction | 702 | 23.0277 USD |
Common | Sell Transaction | 9,387 | 23.0283 USD |
Common | Sell Transaction | 912 | 23.0286 USD |
Common | Sell Transaction | 38,096 | 23.0300 USD |
Common | Sell Transaction | 3,763 | 23.0301 USD |
Common | Sell Transaction | 610 | 23.0319 USD |
Common | Sell Transaction | 1,462 | 23.0322 USD |
Common | Sell Transaction | 812 | 23.0322 USD |
Common | Sell Transaction | 2,886 | 23.0331 USD |
Common | Sell Transaction | 1,084 | 23.0348 USD |
Common | Sell Transaction | 200 | 23.0350 USD |
Common | Sell Transaction | 4,651 | 23.0351 USD |
Common | Sell Transaction | 225 | 23.0356 USD |
Common | Sell Transaction | 3,011 | 23.0373 USD |
Common | Sell Transaction | 207 | 23.0373 USD |
Common | Sell Transaction | 817 | 23.0386 USD |
Common | Sell Transaction | 3,364 | 23.0397 USD |
Common | Sell Transaction | 85 | 23.0398 USD |
Common | Sell Transaction | 1,123 | 23.0420 USD |
Common | Sell Transaction | 101 | 23.0442 USD |
Common | Sell Transaction | 179 | 23.0447 USD |
Common | Sell Transaction | 21,466 | 23.0481 USD |
Common | Sell Transaction | 98 | 23.0500 USD |
Common | Sell Transaction | 2,096 | 23.0506 USD |
Common | Sell Transaction | 1,758 | 23.0518 USD |
Common | Sell Transaction | 300 | 23.0533 USD |
Common | Sell Transaction | 3,603 | 23.0537 USD |
Common | Sell Transaction | 1,700 | 23.0550 USD |
Common | Sell Transaction | 540 | 23.0565 USD |
Common | Sell Transaction | 5,978 | 23.0580 USD |
Common | Sell Transaction | 582 | 23.0622 USD |
Common | Sell Transaction | 11,268 | 23.0638 USD |
Common | Sell Transaction | 14,346 | 23.0640 USD |
Common | Sell Transaction | 48 | 23.0646 USD |
Common | Sell Transaction | 2,182 | 23.0690 USD |
Common | Sell Transaction | 1,068 | 23.0722 USD |
Common | Sell Transaction | 500 | 23.0750 USD |
Common | Sell Transaction | 3,319 | 23.0768 USD |
Common | Sell Transaction | 2,216 | 23.0802 USD |
Common | Sell Transaction | 338 | 23.0809 USD |
Common | Sell Transaction | 369 | 23.0857 USD |
Common | Sell Transaction | 4,516 | 23.0874 USD |
Common | Sell Transaction | 1,380 | 23.0912 USD |
Common | Sell Transaction | 107 | 23.0933 USD |
Common | Sell Transaction | 4,045 | 23.0981 USD |
Common | Sell Transaction | 201 | 23.1006 USD |
Common | Sell Transaction | 186 | 23.1069 USD |
Common | Sell Transaction | 10 | 23.1098 USD |
Common | Sell Transaction | 392 | 23.1100 USD |
Common | Sell Transaction | 13,777 | 23.1130 USD |
Common | Sell Transaction | 628 | 23.1170 USD |
Common | Sell Transaction | 151 | 23.1198 USD |
Common | Sell Transaction | 300 | 23.1200 USD |
Common | Sell Transaction | 3,200 | 23.1219 USD |
Common | Sell Transaction | 136 | 23.1290 USD |
Common | Sell Transaction | 250 | 23.1364 USD |
Common | Sell Transaction | 92 | 23.1371 USD |
Common | Sell Transaction | 8,930 | 23.1390 USD |
Common | Sell Transaction | 200 | 23.1450 USD |
Common | Sell Transaction | 1 | 23.1500 USD |
Common | Sell Transaction | 500 | 23.1540 USD |
Common | Sell Transaction | 14 | 23.1579 USD |
Common | Sell Transaction | 608 | 23.1612 USD |
Common | Sell Transaction | 1,567 | 23.1698 USD |
Common | Sell Transaction | 8 | 23.1750 USD |
Common | Sell Transaction | 35 | 23.1793 USD |
Common | Sell Transaction | 105 | 23.1900 USD |
Common | Sell Transaction | 1,000 | 23.1950 USD |
Common | Sell Transaction | 299 | 23.1983 USD |
Common | Sell Transaction | 1,475 | 23.2055 USD |
Common | Sell Transaction | 1,731 | 23.2094 USD |
Common | Sell Transaction | 434 | 23.2100 USD |
Common | Sell Transaction | 1,038 | 23.2111 USD |
Common | Sell Transaction | 15 | 23.2500 USD |
Common | Sell Transaction | 110 | 23.2520 USD |
Common | Sell Transaction | 100 | 23.2600 USD |
Common | Sell Transaction | 100 | 23.2700 USD |
Common | Sell Transaction | 353 | 23.2779 USD |
Common | Sell Transaction | 12 | 23.2792 USD |
Common | Sell Transaction | 300 | 23.2800 USD |
Common | Sell Transaction | 2 | 23.2850 USD |
Common | Sell Transaction | 858 | 23.2899 USD |
Common | Sell Transaction | 12 | 23.2950 USD |
Common | Sell Transaction | 600 | 23.3100 USD |
Common | Sell Transaction | 131 | 23.3443 USD |
Common | Sell Transaction | 1 | 23.3700 USD |
Common | Sell Transaction | 69 | 23.3972 USD |
Common | Sell Transaction | 7 | 23.4400 USD |
Ap29
(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) | Exerciseprice per unit | Type e.g. American, Europeanetc. | Expiry date | Option moneypaid/ received per unit |
Common | Put Option | Buy Transaction | 100 | 20.0000 USD | American | 2025-12-19 | 0.1000 USD |
Common | Call Option | Buy Transaction | 1,000 | 20.0000 USD | American | 2025-11-21 | 3.1000 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) |
Common | Call Option | Exercised against | 35,000 | 12.5000 USD |
(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) |
|
|
|
|
Ap30
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 | 18 November 2025 |
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.
Ap32
SUPPLEMENTAL FORM 8
IRISH TAKEOVER PANEL
DISCLOSURE UNDER RULE 8.1, RULE 8.3, RULE 38.5(b) ANDRULE 38.6 OF THE IRISH TAKEOVER PANEL ACT, 1997,TAKEOVER RULES, 2022
DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDINGOPTION) POSITIONS, AGREEMENTS TO PURCHASE OR SELL ANDRIGHTS 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: | AVADEL PHARMACEUTICALS PLC |
2. STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)
Class of relevant security | Product description e.g. call option | Written or purchased | Number of securities towhich optionor derivative relates | Exercise price per unit | Type e.g. American, European etc. | Expiry date |
Common | Call Option | Purchased | 3,100 | 25.0 USD
| American
| 15/01/2027
|
Common | Call Option | Purchased | 100 | 22.5 USD
| American
| 16/01/2026
|
Common | Put Option | Purchased | -100 | 7.5 USD
| American
| 20/03/2026
|
Common | Put Option | Purchased | -300 | 15.0 USD
| American
| 21/11/2025
|
Common | Put Option | Purchased | -4,700 | 15.0 USD
| American
| 19/12/2025
|
Common | Call Option | Purchased | 0 | 25.0 USD
| American
| 20/03/2026
|
Common | Call Option | Purchased | 7,200 | 7.5 USD
| American
| 21/11/2025
|
Common | Call Option | Purchased | 24,200 | 22.5 USD
| American
| 20/03/2026
|
Common | Call Option | Purchased | 900 | 7.5 USD
| American
| 19/12/2025
|
Common | Put Option | Purchased | 0 | 20.0 USD
| American
| 21/11/2025
|
Common | Put Option | Purchased | -100 | 20.0 USD
| American
| 19/12/2025
|
Common | Call Option | Purchased | 5,600 | 12.5 USD
| American
| 15/01/2027
|
Common | Put Option | Purchased | -3,100 | 12.5 USD
| American
| 20/03/2026
|
Common | Put Option | Purchased | -100 | 15.0 USD
| American
| 15/01/2027
|
Common | Put Option | Purchased | -3,800 | 15.0 USD
| American
| 20/03/2026
|
Common | Put Option | Purchased | -45,000 | 10.0 USD
| American
| 16/01/2026
|
Common | Put Option | Purchased | -100 | 20.0 USD
| American
| 18/06/2026
|
Common | Put Option | Purchased | -2,900 | 7.5 USD
| American
| 19/12/2025
|
Common | Put Option | Purchased | -4,600 | 12.5 USD
| American
| 21/11/2025
|
Common | Put Option | Purchased | -200 | 17.5 USD
| American
| 20/03/2026
|
Common | Put Option | Purchased | -1,000 | 25.0 USD
| American
| 20/03/2026
|
Common | Put Option | Purchased | 0 | 12.5 USD
| American
| 15/01/2027
|
Common | Call Option | Purchased | 5,800 | 22.5 USD
| American
| 15/01/2027
|
Common | Call Option | Purchased | 0 | 5.0 USD
| American
| 16/01/2026
|
Common | Put Option | Purchased | -60,700 | 15.0 USD
| American
| 16/01/2026
|
Common | Call Option | Purchased | 2,200 | 20.0 USD
| American
| 18/06/2026
|
Common | Put Option | Purchased | 0 | 10.0 USD
| American
| 20/03/2026
|
Common | Put Option | Purchased | -1,000 | 17.5 USD
| American
| 18/06/2026
|
Common | Call Option | Purchased | 5,100 | 15.0 USD
| American
| 15/01/2027
|
Common | Call Option | Sold | -227,000 | 17.5 USD
| American
| 21/11/2025
|
Common | Call Option | Sold | -100 | 20.0 USD
| American
| 15/01/2027
|
Common | Call Option | Sold | -2,600 | 30.0 USD
| American
| 16/01/2026
|
Common | Put Option | Sold | 24,900 | 7.5 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -34,200 | 5.0 USD
| American
| 15/01/2027
|
Common | Call Option | Sold | -50,500 | 15.0 USD
| American
| 19/12/2025
|
Common | Put Option | Sold | 1,900 | 17.5 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -5,400 | 20.0 USD
| American
| 20/03/2026
|
Common | Put Option | Sold | 400 | 20.0 USD
| American
| 20/03/2026
|
Common | Call Option | Sold | -30,000 | 15.0 USD
| American
| 20/03/2026
|
Common | Put Option | Sold | 1,600 | 12.5 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -4,300 | 22.5 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -10,000 | 17.5 USD
| American
| 20/03/2026
|
Common | Call Option | Sold | -31,800 | 17.5 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -10,200 | 7.5 USD
| American
| 15/01/2027
|
Common | Call Option | Sold | -150,600 | 15.0 USD
| American
| 16/01/2026
|
Common | Put Option | Sold | 4,400 | 17.5 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -5,100 | 10.0 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -100 | 35.0 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -100 | 22.5 USD
| American
| 21/11/2025
|
Common | Call Option | Sold | -30,800 | 15.0 USD
| American
| 21/11/2025
|
Common | Call Option | Sold | -183,200 | 10.0 USD
| American
| 16/01/2026
|
Common | Put Option | Sold | 100 | 10.0 USD
| American
| 21/11/2025
|
Common | Call Option | Sold | -1,700 | 30.0 USD
| American
| 21/11/2025
|
Common | Call Option | Sold | -13,500 | 10.0 USD
| American
| 15/01/2027
|
Common | Call Option | Sold | -46,200 | 20.0 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -184,200 | 12.5 USD
| American
| 21/11/2025
|
Common | Call Option | Sold | -1,800 | 17.5 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -4,700 | 20.0 USD
| American
| 19/12/2025
|
Common | Put Option | Sold | 11,900 | 17.5 USD
| American
| 21/11/2025
|
Common | Call Option | Sold | -5,800 | 25.0 USD
| American
| 21/11/2025
|
Common | Call Option | Sold | -4,800 | 17.5 USD
| American
| 15/01/2027
|
Common | Call Option | Sold | -9,600 | 7.5 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -174,600 | 20.0 USD
| American
| 21/11/2025
|
Common | Call Option | Sold | -65,900 | 12.5 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -200 | 25.0 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -100 | 30.0 USD
| American
| 19/12/2025
|
Common | Put Option | Sold | 59,000 | 5.0 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -2,100 | 12.5 USD
| American
| 20/03/2026
|
Common | Put Option | Sold | 8,200 | 10.0 USD
| American
| 19/12/2025
|
Common | Put Option | Sold | 5,400 | 12.5 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -6,200 | 12.5 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -1,700 | 25.0 USD
| American
| 16/01/2026
|
3. AGREEMENTS TO PURCHASE OR SELL
Full details should be given so that the nature of the interest or position can be fully understood: |
|
Ap33
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.