27th 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 | 26 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 share | |||
Interests | Short positions | |||
Number | % | Number | % | |
(1) Relevant securities owned and/or controlled | 942,911 | 0.96 | 317,885 | 0.32 |
(2) Cash-settled derivatives | 0 | 0.00 | 0 | 0.00 |
(3) Stock-settled derivatives (including options) and agreements to purchase/ sell | 162,400 | 0.16 | 782,600 | 0.80 |
Total | 1,105,311 | 1.13 | 1,100,485 | 1.12 |
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 | 100 | 21.2500 USD |
Common | Buy Transaction | 41 | 21.2976 USD |
Common | Buy Transaction | 310 | 21.3450 USD |
Common | Buy Transaction | 3,500 | 21.3500 USD |
Common | Buy Transaction | 1,448 | 21.3541 USD |
Common | Buy Transaction | 4 | 21.3549 USD |
Common | Buy Transaction | 200 | 21.3550 USD |
Common | Buy Transaction | 380 | 21.3553 USD |
Common | Buy Transaction | 410 | 21.3554 USD |
Common | Buy Transaction | 94,851 | 21.3555 USD |
Common | Buy Transaction | 528 | 21.3602 USD |
Common | Buy Transaction | 670 | 21.3608 USD |
Common | Buy Transaction | 100 | 21.3624 USD |
Common | Buy Transaction | 20 | 21.3635 USD |
Common | Buy Transaction | 41 | 21.3639 USD |
Common | Buy Transaction | 6,300 | 21.3649 USD |
Common | Buy Transaction | 650 | 21.3650 USD |
Common | Buy Transaction | 2,413 | 21.3650 USD |
Common | Buy Transaction | 663 | 21.3658 USD |
Common | Buy Transaction | 44 | 21.3666 USD |
Common | Buy Transaction | 553 | 21.3666 USD |
Common | Buy Transaction | 658 | 21.3673 USD |
Common | Buy Transaction | 1,261 | 21.3682 USD |
Common | Buy Transaction | 132 | 21.3690 USD |
Common | Buy Transaction | 1,730 | 21.3700 USD |
Common | Buy Transaction | 400 | 21.3725 USD |
Common | Buy Transaction | 63 | 21.3737 USD |
Common | Buy Transaction | 820 | 21.3737 USD |
Common | Buy Transaction | 37 | 21.3738 USD |
Common | Buy Transaction | 200 | 21.3750 USD |
Common | Buy Transaction | 1,358 | 21.3758 USD |
Common | Buy Transaction | 2,422 | 21.3760 USD |
Common | Buy Transaction | 472 | 21.3764 USD |
Common | Buy Transaction | 519 | 21.3776 USD |
Common | Buy Transaction | 972 | 21.3781 USD |
Common | Buy Transaction | 406 | 21.3792 USD |
Common | Buy Transaction | 3,017 | 21.3800 USD |
Common | Buy Transaction | 1,000 | 21.3801 USD |
Common | Buy Transaction | 200 | 21.3805 USD |
Common | Buy Transaction | 10,556 | 21.3809 USD |
Common | Buy Transaction | 2,600 | 21.3812 USD |
Common | Buy Transaction | 682 | 21.3820 USD |
Common | Buy Transaction | 500 | 21.3822 USD |
Common | Buy Transaction | 393 | 21.3825 USD |
Common | Buy Transaction | 6 | 21.3833 USD |
Common | Buy Transaction | 380 | 21.3845 USD |
Common | Buy Transaction | 24 | 21.3846 USD |
Common | Buy Transaction | 266 | 21.3849 USD |
Common | Buy Transaction | 234 | 21.3850 USD |
Common | Buy Transaction | 3,385 | 21.3850 USD |
Common | Buy Transaction | 35 | 21.3851 USD |
Common | Buy Transaction | 350 | 21.3857 USD |
Common | Buy Transaction | 380 | 21.3857 USD |
Common | Buy Transaction | 15,681 | 21.3869 USD |
Common | Buy Transaction | 1,373 | 21.3874 USD |
Common | Buy Transaction | 176 | 21.3874 USD |
Common | Buy Transaction | 1,187 | 21.3875 USD |
Common | Buy Transaction | 180 | 21.3875 USD |
Common | Buy Transaction | 605 | 21.3875 USD |
Common | Buy Transaction | 1,387 | 21.3877 USD |
Common | Buy Transaction | 1,836 | 21.3884 USD |
Common | Buy Transaction | 375 | 21.3887 USD |
Common | Buy Transaction | 6,456 | 21.3892 USD |
Common | Buy Transaction | 2,871 | 21.3893 USD |
Common | Buy Transaction | 7,170 | 21.3897 USD |
Common | Buy Transaction | 2,325 | 21.3897 USD |
Common | Buy Transaction | 6,296 | 21.3898 USD |
Common | Buy Transaction | 2,350 | 21.3898 USD |
Common | Buy Transaction | 1,007 | 21.3900 USD |
Common | Buy Transaction | 388 | 21.3905 USD |
Common | Buy Transaction | 2,300 | 21.3909 USD |
Common | Buy Transaction | 3,000 | 21.3910 USD |
Common | Buy Transaction | 5,403 | 21.3916 USD |
Common | Buy Transaction | 2,220 | 21.3928 USD |
Common | Buy Transaction | 17,350 | 21.3929 USD |
Common | Buy Transaction | 9,509 | 21.3939 USD |
Common | Buy Transaction | 1,000 | 21.3940 USD |
Common | Buy Transaction | 140 | 21.3943 USD |
Common | Buy Transaction | 150 | 21.3950 USD |
Common | Buy Transaction | 505 | 21.3959 USD |
Common | Buy Transaction | 3,766 | 21.3981 USD |
Common | Buy Transaction | 1,538 | 21.3985 USD |
Common | Buy Transaction | 2,918 | 21.3986 USD |
Common | Buy Transaction | 100 | 21.3990 USD |
Common | Buy Transaction | 2,646 | 21.3998 USD |
Common | Buy Transaction | 3,075 | 21.4000 USD |
Common | Buy Transaction | 3,100 | 21.4013 USD |
Common | Buy Transaction | 3,400 | 21.4029 USD |
Common | Buy Transaction | 3,398 | 21.4034 USD |
Common | Buy Transaction | 201 | 21.4048 USD |
Common | Buy Transaction | 5,213 | 21.4071 USD |
Common | Buy Transaction | 709 | 21.4072 USD |
Common | Buy Transaction | 4 | 21.4100 USD |
Common | Buy Transaction | 2,900 | 21.4129 USD |
Common | Buy Transaction | 89 | 21.4191 USD |
Common | Buy Transaction | 10,730 | 21.4238 USD |
Common | Buy Transaction | 15,176 | 21.4613 USD |
Common | Buy Transaction | 611 | 21.4782 USD |
Common | Buy Transaction | 856 | 21.4785 USD |
Common | Buy Transaction | 1,487 | 21.4795 USD |
Common | Buy Transaction | 1,500 | 21.4840 USD |
Common | Buy Transaction | 3,982 | 21.4953 USD |
Common | Buy Transaction | 578 | 21.4988 USD |
Common | Buy Transaction | 300 | 21.5133 USD |
Common | Buy Transaction | 2,498 | 21.5187 USD |
Common | Buy Transaction | 100 | 21.5300 USD |
Common | Buy Transaction | 5,419 | 21.5331 USD |
Common | Buy Transaction | 7,781 | 21.5349 USD |
Common | Buy Transaction | 10 | 21.5350 USD |
Common | Buy Transaction | 1 | 21.5500 USD |
Common | Buy Transaction | 100 | 21.5800 USD |
Common | Buy Transaction | 374 | 21.6104 USD |
Common | Buy Transaction | 1,768 | 21.6105 USD |
Common | Buy Transaction | 418 | 21.6173 USD |
Common | Buy Transaction | 5,175 | 21.6494 USD |
Common | Buy Transaction | 240 | 21.6500 USD |
Common | Buy Transaction | 3,963 | 21.6544 USD |
Common | Buy Transaction | 32,642 | 21.6556 USD |
Common | Buy Transaction | 3,000 | 21.6600 USD |
Common | Buy Transaction | 2 | 21.6650 USD |
Common | Buy Transaction | 5,738 | 21.6716 USD |
Common | Buy Transaction | 335 | 21.6859 USD |
Common | Buy Transaction | 5,213 | 21.6893 USD |
Common | Buy Transaction | 339 | 21.7053 USD |
Common | Buy Transaction | 5,863 | 21.7053 USD |
Common | Buy Transaction | 3,362 | 21.7192 USD |
Common | Buy Transaction | 2,333 | 21.7510 USD |
Common | Buy Transaction | 4,707 | 21.7623 USD |
Common | Buy Transaction | 135 | 21.7681 USD |
Common | Buy Transaction | 750 | 21.7713 USD |
Common | Buy Transaction | 200 | 21.8150 USD |
Common | Buy Transaction | 774 | 21.8231 USD |
Common | Buy Transaction | 806 | 21.8266 USD |
Common | Buy Transaction | 2,110 | 21.8279 USD |
Common | Buy Transaction | 200 | 21.8400 USD |
Common | Buy Transaction | 514 | 21.8561 USD |
Common | Buy Transaction | 780 | 21.8760 USD |
Common | Buy Transaction | 1,500 | 21.8839 USD |
Common | Buy Transaction | 600 | 21.8933 USD |
Common | Buy Transaction | 983 | 21.9171 USD |
Common | Buy Transaction | 124 | 21.9405 USD |
Common | Buy Transaction | 120 | 21.9600 USD |
Common | Buy Transaction | 334 | 21.9743 USD |
Common | Buy Transaction | 1,248 | 21.9768 USD |
Common | Buy Transaction | 3 | 22.0033 USD |
Common | Buy Transaction | 20 | 22.0100 USD |
Common | Buy Transaction | 514 | 22.0544 USD |
Common | Buy Transaction | 1,010 | 22.0750 USD |
Common | Buy Transaction | 200 | 22.0800 USD |
Common | Buy Transaction | 272 | 22.0982 USD |
Common | Buy Transaction | 800 | 22.1288 USD |
Common | Buy Transaction | 400 | 22.1875 USD |
Common | Buy Transaction | 303 | 22.2426 USD |
Common | Buy Transaction | 1,498 | 22.3001 USD |
Common | Buy Transaction | 14 | 22.3100 USD |
Common | Buy Transaction | 98 | 22.3653 USD |
Common | Buy Transaction | 174 | 22.3800 USD |
Common | Buy Transaction | 180 | 22.3822 USD |
Common | Buy Transaction | 4,721 | 22.3954 USD |
Common | Buy Transaction | 300 | 22.4133 USD |
Common | Buy Transaction | 2 | 22.4450 USD |
Common | Buy Transaction | 205 | 22.4600 USD |
Common | Buy Transaction | 42 | 22.4750 USD |
Common | Buy Transaction | 86 | 22.4865 USD |
Common | Buy Transaction | 184 | 22.5000 USD |
Common | Buy Transaction | 624 | 22.5063 USD |
Common | Buy Transaction | 713 | 22.5197 USD |
Common | Buy Transaction | 186 | 22.5400 USD |
Common | Buy Transaction | 409 | 22.5837 USD |
Common | Buy Transaction | 41 | 22.6107 USD |
Common | Buy Transaction | 3,116 | 22.6736 USD |
Common | Buy Transaction | 280 | 22.7650 USD |
Common | Buy Transaction | 500 | 22.8600 USD |
Common | Buy Transaction | 4 | 22.8625 USD |
Common | Buy Transaction | 42 | 22.8657 USD |
Common | Buy Transaction | 45 | 22.8951 USD |
Common | Buy Transaction | 268 | 22.9000 USD |
Common | Buy Transaction | 3 | 22.9300 USD |
Common | Buy Transaction | 279 | 22.9500 USD |
Common | Buy Transaction | 529 | 22.9700 USD |
Common | Buy Transaction | 100 | 22.9800 USD |
Common | Buy Transaction | 500 | 22.9920 USD |
Common | Sell Transaction | 418 | 21.2900 USD |
Common | Sell Transaction | 45 | 21.3100 USD |
Common | Sell Transaction | 73 | 21.3222 USD |
Common | Sell Transaction | 217 | 21.3353 USD |
Common | Sell Transaction | 305 | 21.3400 USD |
Common | Sell Transaction | 21,051 | 21.3500 USD |
Common | Sell Transaction | 21,700 | 21.3515 USD |
Common | Sell Transaction | 18,748 | 21.3545 USD |
Common | Sell Transaction | 112,017 | 21.3564 USD |
Common | Sell Transaction | 500 | 21.3580 USD |
Common | Sell Transaction | 374 | 21.3600 USD |
Common | Sell Transaction | 400 | 21.3650 USD |
Common | Sell Transaction | 2,553 | 21.3651 USD |
Common | Sell Transaction | 2,505 | 21.3652 USD |
Common | Sell Transaction | 10 | 21.3660 USD |
Common | Sell Transaction | 101 | 21.3664 USD |
Common | Sell Transaction | 5,669 | 21.3665 USD |
Common | Sell Transaction | 712 | 21.3679 USD |
Common | Sell Transaction | 13,915 | 21.3681 USD |
Common | Sell Transaction | 16,327 | 21.3695 USD |
Common | Sell Transaction | 18,244 | 21.3700 USD |
Common | Sell Transaction | 95 | 21.3701 USD |
Common | Sell Transaction | 235 | 21.3713 USD |
Common | Sell Transaction | 1,347 | 21.3715 USD |
Common | Sell Transaction | 205 | 21.3724 USD |
Common | Sell Transaction | 66,564 | 21.3732 USD |
Common | Sell Transaction | 3,071 | 21.3733 USD |
Common | Sell Transaction | 200 | 21.3750 USD |
Common | Sell Transaction | 1,060 | 21.3753 USD |
Common | Sell Transaction | 185 | 21.3754 USD |
Common | Sell Transaction | 3,408 | 21.3758 USD |
Common | Sell Transaction | 500 | 21.3760 USD |
Common | Sell Transaction | 57 | 21.3765 USD |
Common | Sell Transaction | 5 | 21.3780 USD |
Common | Sell Transaction | 300 | 21.3783 USD |
Common | Sell Transaction | 3,362 | 21.3785 USD |
Common | Sell Transaction | 357 | 21.3797 USD |
Common | Sell Transaction | 8,016 | 21.3800 USD |
Common | Sell Transaction | 50,000 | 21.3800 USD |
Common | Sell Transaction | 134 | 21.3804 USD |
Common | Sell Transaction | 475 | 21.3808 USD |
Common | Sell Transaction | 100 | 21.3810 USD |
Common | Sell Transaction | 184 | 21.3827 USD |
Common | Sell Transaction | 1,337 | 21.3834 USD |
Common | Sell Transaction | 151 | 21.3848 USD |
Common | Sell Transaction | 260 | 21.3850 USD |
Common | Sell Transaction | 9,451 | 21.3850 USD |
Common | Sell Transaction | 3,333 | 21.3850 USD |
Common | Sell Transaction | 22,062 | 21.3886 USD |
Common | Sell Transaction | 30,547 | 21.3899 USD |
Common | Sell Transaction | 4,659 | 21.3900 USD |
Common | Sell Transaction | 14,640 | 21.3916 USD |
Common | Sell Transaction | 50,000 | 21.3927 USD |
Common | Sell Transaction | 32 | 21.3941 USD |
Common | Sell Transaction | 68 | 21.3943 USD |
Common | Sell Transaction | 4,500 | 21.3950 USD |
Common | Sell Transaction | 289,727 | 21.4000 USD |
Common | Sell Transaction | 8,871 | 21.4023 USD |
Common | Sell Transaction | 10 | 21.4080 USD |
Common | Sell Transaction | 6,830 | 21.4083 USD |
Common | Sell Transaction | 1,659 | 21.4100 USD |
Common | Sell Transaction | 500 | 21.4140 USD |
Common | Sell Transaction | 4,606 | 21.4247 USD |
Common | Sell Transaction | 250 | 21.4260 USD |
Common | Sell Transaction | 1,144 | 21.4279 USD |
Common | Sell Transaction | 314 | 21.4341 USD |
Common | Sell Transaction | 1,700 | 21.4350 USD |
Common | Sell Transaction | 8 | 21.4425 USD |
Common | Sell Transaction | 5,083 | 21.4648 USD |
Common | Sell Transaction | 100 | 21.4800 USD |
Common | Sell Transaction | 4,555 | 21.4836 USD |
Common | Sell Transaction | 4,952 | 21.4865 USD |
Common | Sell Transaction | 3 | 21.4900 USD |
Common | Sell Transaction | 1,100 | 21.4968 USD |
Common | Sell Transaction | 3,163 | 21.4972 USD |
Common | Sell Transaction | 3,292 | 21.5048 USD |
Common | Sell Transaction | 2,000 | 21.5134 USD |
Common | Sell Transaction | 3,235 | 21.5210 USD |
Common | Sell Transaction | 1,275 | 21.5216 USD |
Common | Sell Transaction | 1,289 | 21.5308 USD |
Common | Sell Transaction | 90 | 21.5321 USD |
Common | Sell Transaction | 10 | 21.5370 USD |
Common | Sell Transaction | 2,500 | 21.5453 USD |
Common | Sell Transaction | 525 | 21.5996 USD |
Common | Sell Transaction | 32,462 | 21.6311 USD |
Common | Sell Transaction | 6,386 | 21.6530 USD |
Common | Sell Transaction | 1,048 | 21.6790 USD |
Common | Sell Transaction | 76 | 21.7088 USD |
Common | Sell Transaction | 1,300 | 21.7137 USD |
Common | Sell Transaction | 10,294 | 21.7511 USD |
Common | Sell Transaction | 1 | 21.7700 USD |
Common | Sell Transaction | 12,724 | 21.7849 USD |
Common | Sell Transaction | 2,568 | 21.7879 USD |
Common | Sell Transaction | 5,019 | 21.8000 USD |
Common | Sell Transaction | 363 | 21.8047 USD |
Common | Sell Transaction | 2 | 21.8200 USD |
Common | Sell Transaction | 544 | 21.8978 USD |
Common | Sell Transaction | 1,200 | 21.9300 USD |
Common | Sell Transaction | 124 | 21.9405 USD |
Common | Sell Transaction | 408 | 21.9998 USD |
Common | Sell Transaction | 310 | 22.0097 USD |
Common | Sell Transaction | 127 | 22.0406 USD |
Common | Sell Transaction | 244 | 22.0469 USD |
Common | Sell Transaction | 880 | 22.0732 USD |
Common | Sell Transaction | 666 | 22.0974 USD |
Common | Sell Transaction | 1,285 | 22.1664 USD |
Common | Sell Transaction | 1,929 | 22.1766 USD |
Common | Sell Transaction | 167 | 22.2651 USD |
Common | Sell Transaction | 23 | 22.2783 USD |
Common | Sell Transaction | 3,386 | 22.3197 USD |
Common | Sell Transaction | 300 | 22.3833 USD |
Common | Sell Transaction | 45 | 22.4520 USD |
Common | Sell Transaction | 100 | 22.5100 USD |
Common | Sell Transaction | 57 | 22.5700 USD |
Common | Sell Transaction | 115 | 22.7492 USD |
Common | Sell Transaction | 166 | 22.7600 USD |
Common | Sell Transaction | 273 | 22.8600 USD |
Common | Sell Transaction | 21 | 22.8652 USD |
Common | Sell Transaction | 323 | 22.8700 USD |
Common | Sell Transaction | 343 | 22.8800 USD |
Common | Sell Transaction | 3,227 | 22.8808 USD |
Common | Sell Transaction | 10 | 22.8900 USD |
Common | Sell Transaction | 280 | 22.9200 USD |
Common | Sell Transaction | 360 | 22.9700 USD |
Common | Sell Transaction | 500 | 22.9900 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 | Sell Transaction | 100 | 17.5000 USD | American | 2025-12-19 | 0.0500 USD |
Common | Put Option | Sell Transaction | 400 | 20.0000 USD | American | 2025-12-19 | 0.1500 USD |
Common | Put Option | Sell Transaction | 100 | 20.0000 USD | American | 2025-12-19 | 0.2500 USD |
Common | Put Option | Sell Transaction | 100 | 25.0000 USD | American | 2026-03-20 | 2.7500 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) |
Common | Call Option | Exercised against | 2,600 | 15.0000 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) |
|
|
|
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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 | 27 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 | Put Option | Purchased | -1,000 | 17.5 USD
| American
| 18/06/2026
|
Common | Call Option | Purchased | 0 | 25.0 USD
| American
| 20/03/2026
|
Common | Put Option | Purchased | -44,400 | 10.0 USD
| American
| 16/01/2026
|
Common | Put Option | Purchased | 0 | 12.5 USD
| American
| 15/01/2027
|
Common | Put Option | Purchased | -2,900 | 7.5 USD
| American
| 19/12/2025
|
Common | Call Option | Purchased | 5,100 | 15.0 USD
| American
| 15/01/2027
|
Common | Put Option | Purchased | -60,700 | 15.0 USD
| American
| 16/01/2026
|
Common | Put Option | Purchased | -100 | 20.0 USD
| American
| 18/06/2026
|
Common | Call Option | Purchased | 5,800 | 22.5 USD
| American
| 15/01/2027
|
Common | Put Option | Purchased | -200 | 17.5 USD
| American
| 20/03/2026
|
Common | Call Option | Purchased | 100 | 22.5 USD
| American
| 16/01/2026
|
Common | Call Option | Purchased | 2,200 | 20.0 USD
| American
| 18/06/2026
|
Common | Call Option | Purchased | 4,200 | 17.5 USD
| American
| 16/01/2026
|
Common | Call Option | Purchased | 24,200 | 22.5 USD
| American
| 20/03/2026
|
Common | Put Option | Purchased | -100 | 7.5 USD
| American
| 20/03/2026
|
Common | Put Option | Purchased | -900 | 25.0 USD
| American
| 20/03/2026
|
Common | Call Option | Purchased | 0 | 5.0 USD
| American
| 16/01/2026
|
Common | Call Option | Purchased | 3,000 | 25.0 USD
| American
| 15/01/2027
|
Common | Put Option | Purchased | -3,800 | 15.0 USD
| American
| 20/03/2026
|
Common | Put Option | Purchased | -3,100 | 12.5 USD
| American
| 20/03/2026
|
Common | Put Option | Purchased | -4,700 | 15.0 USD
| American
| 19/12/2025
|
Common | Call Option | Purchased | 900 | 7.5 USD
| American
| 19/12/2025
|
Common | Put Option | Purchased | 0 | 10.0 USD
| American
| 20/03/2026
|
Common | Call Option | Purchased | 5,600 | 12.5 USD
| American
| 15/01/2027
|
Common | Put Option | Purchased | -100 | 15.0 USD
| American
| 15/01/2027
|
Common | Call Option | Sold | -1,700 | 25.0 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -5,100 | 10.0 USD
| American
| 19/12/2025
|
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 | -6,200 | 12.5 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -10,000 | 17.5 USD
| American
| 20/03/2026
|
Common | Call Option | Sold | -700 | 20.0 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -100 | 20.0 USD
| American
| 15/01/2027
|
Common | Put Option | Sold | 4,400 | 17.5 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -100 | 30.0 USD
| American
| 19/12/2025
|
Common | Put Option | Sold | 5,500 | 12.5 USD
| American
| 16/01/2026
|
Common | Put Option | Sold | 5,300 | 20.0 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -9,600 | 7.5 USD
| American
| 16/01/2026
|
Common | Put Option | Sold | 8,200 | 10.0 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -4,800 | 17.5 USD
| American
| 15/01/2027
|
Common | Call Option | Sold | -148,000 | 15.0 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -65,900 | 12.5 USD
| American
| 16/01/2026
|
Common | Put Option | Sold | 400 | 20.0 USD
| American
| 20/03/2026
|
Common | Call Option | Sold | -10,200 | 7.5 USD
| American
| 15/01/2027
|
Common | Call Option | Sold | -38,000 | 15.0 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -4,300 | 22.5 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -100 | 35.0 USD
| American
| 16/01/2026
|
Common | Put Option | Sold | 2,000 | 17.5 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -46,200 | 20.0 USD
| American
| 16/01/2026
|
Common | Put Option | Sold | 1,600 | 12.5 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -5,400 | 20.0 USD
| American
| 20/03/2026
|
Common | Put Option | Sold | 59,000 | 5.0 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -13,500 | 10.0 USD
| American
| 15/01/2027
|
Common | Call Option | Sold | -31,800 | 17.5 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -34,200 | 5.0 USD
| American
| 15/01/2027
|
Common | Call Option | Sold | -6,800 | 25.0 USD
| American
| 19/12/2025
|
Common | Call Option | Sold | -183,200 | 10.0 USD
| American
| 16/01/2026
|
Common | Call Option | Sold | -30,000 | 15.0 USD
| American
| 20/03/2026
|
Common | Call Option | Sold | -2,100 | 12.5 USD
| American
| 20/03/2026
|
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.