26th Jun 2026 15:00
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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 | 25 June 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 | 336,372 | 0.45 |
(2) Cash-settled derivatives | 0 | 0.00 | 1,382 | 0.00 |
(3) Stock-settled derivatives (including options) and agreements to purchase/ sell | 115,200 | 0.15 | 55,800 | 0.07 |
Total | 900,984 | 1.20 | 393,554 | 0.52 |
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 | 20 | 3.5035 USD |
Common | Buy Transaction | 18 | 3.5044 USD |
Common | Buy Transaction | 6 | 3.5050 USD |
Common | Buy Transaction | 111 | 3.5059 USD |
Common | Buy Transaction | 115 | 3.5063 USD |
Common | Buy Transaction | 79 | 3.5081 USD |
Common | Buy Transaction | 1,427 | 3.5093 USD |
Common | Buy Transaction | 1,857 | 3.5100 USD |
Common | Buy Transaction | 177 | 3.5109 USD |
Common | Buy Transaction | 120 | 3.5120 USD |
Common | Buy Transaction | 122 | 3.5121 USD |
Common | Buy Transaction | 2,301 | 3.5122 USD |
Common | Buy Transaction | 252 | 3.5151 USD |
Common | Buy Transaction | 507 | 3.5194 USD |
Common | Buy Transaction | 12 | 3.5200 USD |
Common | Buy Transaction | 1,092 | 3.5201 USD |
Common | Buy Transaction | 403 | 3.5205 USD |
Common | Buy Transaction | 596 | 3.5213 USD |
Common | Buy Transaction | 500 | 3.5240 USD |
Common | Buy Transaction | 339 | 3.5271 USD |
Common | Buy Transaction | 200 | 3.5275 USD |
Common | Buy Transaction | 540 | 3.5300 USD |
Common | Buy Transaction | 153 | 3.5365 USD |
Common | Buy Transaction | 690 | 3.5367 USD |
Common | Buy Transaction | 971 | 3.5374 USD |
Common | Buy Transaction | 5,264 | 3.5400 USD |
Common | Buy Transaction | 20 | 3.5500 USD |
Common | Buy Transaction | 202 | 3.5600 USD |
Common | Buy Transaction | 6,458 | 3.5620 USD |
Common | Buy Transaction | 200 | 3.5650 USD |
Common | Buy Transaction | 318 | 3.5686 USD |
Common | Buy Transaction | 4 | 3.5700 USD |
Common | Buy Transaction | 916 | 3.5757 USD |
Common | Buy Transaction | 821 | 3.5757 USD |
Common | Buy Transaction | 917 | 3.5774 USD |
Common | Buy Transaction | 290 | 3.5798 USD |
Common | Buy Transaction | 3,909 | 3.5800 USD |
Common | Buy Transaction | 543 | 3.5810 USD |
Common | Buy Transaction | 400 | 3.5875 USD |
Common | Buy Transaction | 1,550 | 3.5900 USD |
Common | Buy Transaction | 2,534 | 3.5943 USD |
Common | Buy Transaction | 3,251 | 3.5953 USD |
Common | Buy Transaction | 200 | 3.5961 USD |
Common | Buy Transaction | 18 | 3.5972 USD |
Common | Buy Transaction | 2,686 | 3.5976 USD |
Common | Buy Transaction | 500 | 3.5980 USD |
Common | Buy Transaction | 411 | 3.6000 USD |
Common | Buy Transaction | 4,695 | 3.6002 USD |
Common | Buy Transaction | 136 | 3.6046 USD |
Common | Buy Transaction | 637 | 3.6048 USD |
Common | Buy Transaction | 1,530 | 3.6100 USD |
Common | Buy Transaction | 901 | 3.6106 USD |
Common | Buy Transaction | 600 | 3.6200 USD |
Common | Buy Transaction | 1,521 | 3.6236 USD |
Common | Buy Transaction | 600 | 3.6267 USD |
Common | Buy Transaction | 842 | 3.6277 USD |
Common | Buy Transaction | 2,155 | 3.6281 USD |
Common | Buy Transaction | 15 | 3.6320 USD |
Common | Buy Transaction | 27,531 | 3.6321 USD |
Common | Buy Transaction | 7,332 | 3.6336 USD |
Common | Buy Transaction | 497 | 3.6365 USD |
Common | Buy Transaction | 2,125 | 3.6415 USD |
Common | Buy Transaction | 12 | 3.6500 USD |
Common | Buy Transaction | 360 | 3.6506 USD |
Common | Buy Transaction | 781 | 3.6514 USD |
Common | Buy Transaction | 5,178 | 3.6557 USD |
Common | Buy Transaction | 2,066 | 3.6709 USD |
Common | Buy Transaction | 846 | 3.6741 USD |
Common | Buy Transaction | 310 | 3.6756 USD |
Common | Buy Transaction | 700 | 3.6864 USD |
Common | Buy Transaction | 10 | 3.7040 USD |
Common | Buy Transaction | 2 | 3.7100 USD |
Common | Buy Transaction | 300 | 3.7700 USD |
Common | Sell Transaction | 21 | 3.5057 USD |
Common | Sell Transaction | 19 | 3.5058 USD |
Common | Sell Transaction | 106 | 3.5151 USD |
Common | Sell Transaction | 100 | 3.5250 USD |
Common | Sell Transaction | 4,999 | 3.5250 USD |
Common | Sell Transaction | 150 | 3.5253 USD |
Common | Sell Transaction | 113 | 3.5264 USD |
Common | Sell Transaction | 359 | 3.5277 USD |
Common | Sell Transaction | 76 | 3.5280 USD |
Common | Sell Transaction | 102 | 3.5300 USD |
Common | Sell Transaction | 2 | 3.5350 USD |
Common | Sell Transaction | 690 | 3.5367 USD |
Common | Sell Transaction | 53 | 3.5374 USD |
Common | Sell Transaction | 4,690 | 3.5400 USD |
Common | Sell Transaction | 1,220 | 3.5448 USD |
Common | Sell Transaction | 20 | 3.5500 USD |
Common | Sell Transaction | 7 | 3.5586 USD |
Common | Sell Transaction | 932 | 3.5588 USD |
Common | Sell Transaction | 2,500 | 3.5599 USD |
Common | Sell Transaction | 404 | 3.5600 USD |
Common | Sell Transaction | 943 | 3.5618 USD |
Common | Sell Transaction | 316 | 3.5678 USD |
Common | Sell Transaction | 200 | 3.5700 USD |
Common | Sell Transaction | 600 | 3.5733 USD |
Common | Sell Transaction | 300 | 3.5750 USD |
Common | Sell Transaction | 1,990 | 3.5775 USD |
Common | Sell Transaction | 54 | 3.5781 USD |
Common | Sell Transaction | 589 | 3.5800 USD |
Common | Sell Transaction | 4,209 | 3.5867 USD |
Common | Sell Transaction | 221 | 3.5893 USD |
Common | Sell Transaction | 3,501 | 3.5900 USD |
Common | Sell Transaction | 7,704 | 3.5902 USD |
Common | Sell Transaction | 206 | 3.5936 USD |
Common | Sell Transaction | 115 | 3.5948 USD |
Common | Sell Transaction | 10 | 3.5950 USD |
Common | Sell Transaction | 35 | 3.5971 USD |
Common | Sell Transaction | 55 | 3.5975 USD |
Common | Sell Transaction | 4,228 | 3.5988 USD |
Common | Sell Transaction | 238 | 3.5989 USD |
Common | Sell Transaction | 2,503 | 3.6000 USD |
Common | Sell Transaction | 403 | 3.6020 USD |
Common | Sell Transaction | 3,996 | 3.6035 USD |
Common | Sell Transaction | 1,300 | 3.6050 USD |
Common | Sell Transaction | 697 | 3.6052 USD |
Common | Sell Transaction | 300 | 3.6067 USD |
Common | Sell Transaction | 1,000 | 3.6070 USD |
Common | Sell Transaction | 6,480 | 3.6072 USD |
Common | Sell Transaction | 6,102 | 3.6082 USD |
Common | Sell Transaction | 1,039 | 3.6098 USD |
Common | Sell Transaction | 1,717 | 3.6098 USD |
Common | Sell Transaction | 520 | 3.6100 USD |
Common | Sell Transaction | 3,131 | 3.6134 USD |
Common | Sell Transaction | 468 | 3.6138 USD |
Common | Sell Transaction | 418 | 3.6146 USD |
Common | Sell Transaction | 12 | 3.6158 USD |
Common | Sell Transaction | 50 | 3.6176 USD |
Common | Sell Transaction | 2,389 | 3.6191 USD |
Common | Sell Transaction | 18,120 | 3.6204 USD |
Common | Sell Transaction | 2,021 | 3.6204 USD |
Common | Sell Transaction | 569 | 3.6208 USD |
Common | Sell Transaction | 526 | 3.6216 USD |
Common | Sell Transaction | 955 | 3.6221 USD |
Common | Sell Transaction | 262 | 3.6224 USD |
Common | Sell Transaction | 5 | 3.6260 USD |
Common | Sell Transaction | 511 | 3.6292 USD |
Common | Sell Transaction | 3 | 3.6300 USD |
Common | Sell Transaction | 900 | 3.6305 USD |
Common | Sell Transaction | 27,531 | 3.6321 USD |
Common | Sell Transaction | 1,936 | 3.6332 USD |
Common | Sell Transaction | 105 | 3.6364 USD |
Common | Sell Transaction | 201 | 3.6400 USD |
Common | Sell Transaction | 900 | 3.6422 USD |
Common | Sell Transaction | 5 | 3.6460 USD |
Common | Sell Transaction | 192 | 3.6469 USD |
Common | Sell Transaction | 170 | 3.6491 USD |
Common | Sell Transaction | 5,178 | 3.6557 USD |
Common | Sell Transaction | 5,232 | 3.6600 USD |
Common | Sell Transaction | 865 | 3.6643 USD |
Common | Sell Transaction | 51 | 3.6765 USD |
Common | Sell Transaction | 18 | 3.6850 USD |
Common | Sell Transaction | 77 | 3.6901 USD |
Common | Sell Transaction | 100 | 3.6950 USD |
Common | Sell Transaction | 20,000 | 3.7000 USD |
Common | Sell Transaction | 1,784 | 3.7100 USD |
Common | Sell Transaction | 340 | 3.7500 USD |
Common | Sell Transaction | 1,172 | 3.8596 USD |
Common | Sell Transaction | 121 | 3.8777 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) |
Common | CFD | Reducing long position | 1,844 | 3.5143 USD |
Common | CFD | Opening short position | 3,226 | 3.6091 USD |
(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 | Call Option | Buy Transaction | 500 | 10.0000 USD | American | 2026-11-20 | 0.2800 USD |
Common | Call Option | Buy Transaction | 4,000 | 5.0000 USD | American | 2026-12-18 | 0.6200 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 | 26 June 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) 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: | 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 towhich optionor derivative relates | Exercise price per unit | Type e.g. American, European etc. | Expiry date |
Common | Put Option | Purchased | -900 | 2.5 USD
| American
| 18/12/2026
|
Common | Call Option | Purchased | 4,000 | 10.0 USD
| American
| 18/12/2026
|
Common | Put Option | Purchased | -100 | 10.0 USD
| American
| 21/08/2026
|
Common | Put Option | Purchased | -2,500 | 7.5 USD
| American
| 18/12/2026
|
Common | Put Option | Purchased | -400 | 2.5 USD
| American
| 21/08/2026
|
Common | Call Option | Purchased | 900 | 5.0 USD
| American
| 17/07/2026
|
Common | Put Option | Purchased | -2,100 | 5.0 USD
| American
| 18/12/2026
|
Common | Put Option | Purchased | -8,500 | 5.0 USD
| American
| 17/07/2026
|
Common | Call Option | Purchased | 21,200 | 10.0 USD
| American
| 20/11/2026
|
Common | Put Option | Purchased | -2,300 | 5.0 USD
| American
| 20/11/2026
|
Common | Call Option | Purchased | 2,100 | 10.0 USD
| American
| 21/08/2026
|
Common | Call Option | Purchased | 200 | 17.5 USD
| American
| 18/12/2026
|
Common | Call Option | Purchased | 50,800 | 20.0 USD
| American
| 21/08/2026
|
Common | Put Option | Purchased | -300 | 10.0 USD
| American
| 18/12/2026
|
Common | Put Option | Purchased | -1,100 | 7.5 USD
| American
| 21/08/2026
|
Common | Put Option | Purchased | -1,400 | 5.0 USD
| American
| 21/08/2026
|
Common | Call Option | Sold | -9,100 | 7.5 USD
| American
| 18/12/2026
|
Common | Call Option | Sold | -100 | 5.0 USD
| American
| 20/11/2026
|
Common | Call Option | Sold | -600 | 2.5 USD
| American
| 18/12/2026
|
Common | Call Option | Sold | -100 | 7.5 USD
| American
| 21/08/2026
|
Common | Put Option | Sold | 36,000 | 2.5 USD
| American
| 17/07/2026
|
Common | Call Option | Sold | -2,400 | 2.5 USD
| American
| 21/08/2026
|
Common | Call Option | Sold | -3,000 | 7.5 USD
| American
| 20/11/2026
|
Common | Call Option | Sold | -6,800 | 5.0 USD
| American
| 18/12/2026
|
Common | Call Option | Sold | -4,900 | 5.0 USD
| American
| 21/08/2026
|
Common | Call Option | Sold | -200 | 15.0 USD
| American
| 18/12/2026
|
Common | Call Option | Sold | -9,000 | 20.0 USD
| American
| 18/12/2026
|
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.