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17 Jun 2026 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 | 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 | 16 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.
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) | ISIN US3499321038 $0.01 ordinary shares | |||
Interests | Short positions | |||
Number | % | Number | % | |
(1) Relevant securities owned and/or controlled | 905,261 | 1.21 | 121,490 | 0.16 |
(2) Cash-settled derivatives | 0 | 0.00 | 0 | 0.00 |
(3) Stock-settled derivatives (including options) and agreements to purchase/ sell | 113,800 | 0.15 | 74,700 | 0.10 |
Total | 1,019,061 | 1.36 | 196,190 | 0.26 |
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 | 26 | 4.8100 USD |
Common | Buy Transaction | 18 | 4.8106 USD |
Common | Buy Transaction | 746 | 4.8132 USD |
Common | Buy Transaction | 200 | 4.8175 USD |
Common | Buy Transaction | 700 | 4.8200 USD |
Common | Buy Transaction | 690 | 4.8227 USD |
Common | Buy Transaction | 18 | 4.8294 USD |
Common | Buy Transaction | 41,302 | 4.8300 USD |
Common | Buy Transaction | 1,200 | 4.8433 USD |
Common | Buy Transaction | 600 | 4.8450 USD |
Common | Buy Transaction | 3,342 | 4.8480 USD |
Common | Buy Transaction | 318 | 4.8517 USD |
Common | Buy Transaction | 383 | 4.8672 USD |
Common | Buy Transaction | 200 | 4.8700 USD |
Common | Buy Transaction | 100 | 4.8708 USD |
Common | Buy Transaction | 302 | 4.8800 USD |
Common | Buy Transaction | 60 | 4.8813 USD |
Common | Buy Transaction | 246 | 4.8824 USD |
Common | Buy Transaction | 41 | 4.8851 USD |
Common | Buy Transaction | 3 | 4.8867 USD |
Common | Buy Transaction | 136 | 4.8900 USD |
Common | Buy Transaction | 148 | 4.8910 USD |
Common | Buy Transaction | 128 | 4.8912 USD |
Common | Buy Transaction | 2,228 | 4.8950 USD |
Common | Buy Transaction | 100 | 4.8950 USD |
Common | Buy Transaction | 438 | 4.8958 USD |
Common | Buy Transaction | 446 | 4.8961 USD |
Common | Buy Transaction | 433 | 4.8967 USD |
Common | Buy Transaction | 210 | 4.9000 USD |
Common | Buy Transaction | 500 | 4.9020 USD |
Common | Buy Transaction | 263 | 4.9052 USD |
Common | Buy Transaction | 3,500 | 4.9086 USD |
Common | Buy Transaction | 420 | 4.9100 USD |
Common | Buy Transaction | 56 | 4.9138 USD |
Common | Buy Transaction | 900 | 4.9150 USD |
Common | Buy Transaction | 432 | 4.9155 USD |
Common | Buy Transaction | 245 | 4.9171 USD |
Common | Buy Transaction | 639 | 4.9250 USD |
Common | Buy Transaction | 200 | 4.9250 USD |
Common | Buy Transaction | 19 | 4.9300 USD |
Common | Buy Transaction | 609 | 4.9301 USD |
Common | Buy Transaction | 1,716 | 4.9301 USD |
Common | Buy Transaction | 1,890 | 4.9306 USD |
Common | Buy Transaction | 142 | 4.9308 USD |
Common | Buy Transaction | 33 | 4.9309 USD |
Common | Buy Transaction | 2,235 | 4.9311 USD |
Common | Buy Transaction | 26 | 4.9331 USD |
Common | Buy Transaction | 3,164 | 4.9346 USD |
Common | Buy Transaction | 2,348 | 4.9359 USD |
Common | Buy Transaction | 2,742 | 4.9383 USD |
Common | Buy Transaction | 101 | 4.9399 USD |
Common | Buy Transaction | 100 | 4.9400 USD |
Common | Buy Transaction | 573 | 4.9431 USD |
Common | Buy Transaction | 146 | 4.9500 USD |
Common | Buy Transaction | 312 | 4.9513 USD |
Common | Buy Transaction | 86 | 4.9530 USD |
Common | Buy Transaction | 1,157 | 4.9538 USD |
Common | Buy Transaction | 212 | 4.9561 USD |
Common | Buy Transaction | 59 | 4.9564 USD |
Common | Buy Transaction | 152 | 4.9600 USD |
Common | Buy Transaction | 802 | 4.9601 USD |
Common | Buy Transaction | 535 | 4.9659 USD |
Common | Buy Transaction | 648 | 4.9800 USD |
Common | Buy Transaction | 2,824 | 4.9900 USD |
Common | Buy Transaction | 60 | 4.9912 USD |
Common | Buy Transaction | 1,122 | 4.9931 USD |
Common | Buy Transaction | 1,488 | 5.0009 USD |
Common | Buy Transaction | 2,212 | 5.0097 USD |
Common | Buy Transaction | 386 | 5.0100 USD |
Common | Buy Transaction | 788 | 5.0198 USD |
Common | Buy Transaction | 1,341 | 5.0457 USD |
Common | Buy Transaction | 400 | 5.0500 USD |
Common | Buy Transaction | 17 | 5.0529 USD |
Common | Buy Transaction | 500 | 5.0720 USD |
Common | Buy Transaction | 2,679 | 5.0741 USD |
Common | Buy Transaction | 1,660 | 5.0806 USD |
Common | Buy Transaction | 633 | 5.0895 USD |
Common | Buy Transaction | 220 | 5.0973 USD |
Common | Buy Transaction | 300 | 5.1000 USD |
Common | Buy Transaction | 10 | 5.1080 USD |
Common | Buy Transaction | 1,216 | 5.1100 USD |
Common | Buy Transaction | 1,960 | 5.1107 USD |
Common | Buy Transaction | 5,160 | 5.1109 USD |
Common | Buy Transaction | 658 | 5.1200 USD |
Common | Buy Transaction | 300 | 5.1201 USD |
Common | Buy Transaction | 60 | 5.1225 USD |
Common | Buy Transaction | 36 | 5.1231 USD |
Common | Buy Transaction | 2 | 5.1300 USD |
Common | Buy Transaction | 8 | 5.1413 USD |
Common | Buy Transaction | 824 | 5.1500 USD |
Common | Buy Transaction | 398 | 5.1573 USD |
Common | Buy Transaction | 10,422 | 5.1900 USD |
Common | Buy Transaction | 100 | 5.1950 USD |
Common | Buy Transaction | 383 | 5.2100 USD |
Common | Buy Transaction | 4,796 | 5.2200 USD |
Common | Buy Transaction | 1,025 | 5.2240 USD |
Common | Sell Transaction | 300 | 4.8100 USD |
Common | Sell Transaction | 2 | 4.8250 USD |
Common | Sell Transaction | 61,456 | 4.8300 USD |
Common | Sell Transaction | 400 | 4.8400 USD |
Common | Sell Transaction | 205 | 4.8407 USD |
Common | Sell Transaction | 348 | 4.8432 USD |
Common | Sell Transaction | 1,000 | 4.8450 USD |
Common | Sell Transaction | 2,005 | 4.8500 USD |
Common | Sell Transaction | 500 | 4.8550 USD |
Common | Sell Transaction | 108 | 4.8552 USD |
Common | Sell Transaction | 4,287 | 4.8569 USD |
Common | Sell Transaction | 22,376 | 4.8594 USD |
Common | Sell Transaction | 2 | 4.8600 USD |
Common | Sell Transaction | 331 | 4.8600 USD |
Common | Sell Transaction | 402 | 4.8750 USD |
Common | Sell Transaction | 418 | 4.8761 USD |
Common | Sell Transaction | 559 | 4.8800 USD |
Common | Sell Transaction | 290 | 4.8817 USD |
Common | Sell Transaction | 200 | 4.8825 USD |
Common | Sell Transaction | 3 | 4.8833 USD |
Common | Sell Transaction | 191 | 4.8852 USD |
Common | Sell Transaction | 3 | 4.8867 USD |
Common | Sell Transaction | 31 | 4.8884 USD |
Common | Sell Transaction | 609 | 4.8887 USD |
Common | Sell Transaction | 900 | 4.8889 USD |
Common | Sell Transaction | 541 | 4.8900 USD |
Common | Sell Transaction | 2,271 | 4.8910 USD |
Common | Sell Transaction | 454 | 4.8922 USD |
Common | Sell Transaction | 1,449 | 4.8949 USD |
Common | Sell Transaction | 641 | 4.8950 USD |
Common | Sell Transaction | 157 | 4.8956 USD |
Common | Sell Transaction | 500 | 4.8960 USD |
Common | Sell Transaction | 202 | 4.8966 USD |
Common | Sell Transaction | 682 | 4.8977 USD |
Common | Sell Transaction | 122 | 4.8992 USD |
Common | Sell Transaction | 14 | 4.8993 USD |
Common | Sell Transaction | 909 | 4.9000 USD |
Common | Sell Transaction | 1,916 | 4.9003 USD |
Common | Sell Transaction | 268 | 4.9004 USD |
Common | Sell Transaction | 242 | 4.9007 USD |
Common | Sell Transaction | 600 | 4.9033 USD |
Common | Sell Transaction | 124 | 4.9039 USD |
Common | Sell Transaction | 1,800 | 4.9044 USD |
Common | Sell Transaction | 116 | 4.9045 USD |
Common | Sell Transaction | 2 | 4.9050 USD |
Common | Sell Transaction | 206 | 4.9051 USD |
Common | Sell Transaction | 511 | 4.9059 USD |
Common | Sell Transaction | 3,500 | 4.9086 USD |
Common | Sell Transaction | 2,129 | 4.9100 USD |
Common | Sell Transaction | 357 | 4.9114 USD |
Common | Sell Transaction | 201 | 4.9124 USD |
Common | Sell Transaction | 60 | 4.9142 USD |
Common | Sell Transaction | 700 | 4.9164 USD |
Common | Sell Transaction | 1,650 | 4.9165 USD |
Common | Sell Transaction | 3,123 | 4.9200 USD |
Common | Sell Transaction | 2,527 | 4.9213 USD |
Common | Sell Transaction | 336 | 4.9221 USD |
Common | Sell Transaction | 1,439 | 4.9222 USD |
Common | Sell Transaction | 200 | 4.9250 USD |
Common | Sell Transaction | 145 | 4.9261 USD |
Common | Sell Transaction | 1,630 | 4.9274 USD |
Common | Sell Transaction | 845 | 4.9280 USD |
Common | Sell Transaction | 462 | 4.9298 USD |
Common | Sell Transaction | 3,898 | 4.9300 USD |
Common | Sell Transaction | 400 | 4.9300 USD |
Common | Sell Transaction | 369 | 4.9319 USD |
Common | Sell Transaction | 8,000 | 4.9329 USD |
Common | Sell Transaction | 200 | 4.9350 USD |
Common | Sell Transaction | 10 | 4.9360 USD |
Common | Sell Transaction | 105 | 4.9386 USD |
Common | Sell Transaction | 1 | 4.9400 USD |
Common | Sell Transaction | 3,520 | 4.9404 USD |
Common | Sell Transaction | 626 | 4.9423 USD |
Common | Sell Transaction | 626 | 4.9429 USD |
Common | Sell Transaction | 519 | 4.9437 USD |
Common | Sell Transaction | 682 | 4.9442 USD |
Common | Sell Transaction | 205 | 4.9483 USD |
Common | Sell Transaction | 762 | 4.9493 USD |
Common | Sell Transaction | 1,076 | 4.9500 USD |
Common | Sell Transaction | 200 | 4.9510 USD |
Common | Sell Transaction | 405 | 4.9516 USD |
Common | Sell Transaction | 1,327 | 4.9517 USD |
Common | Sell Transaction | 797 | 4.9521 USD |
Common | Sell Transaction | 813 | 4.9543 USD |
Common | Sell Transaction | 800 | 4.9550 USD |
Common | Sell Transaction | 579 | 4.9582 USD |
Common | Sell Transaction | 120 | 4.9596 USD |
Common | Sell Transaction | 201 | 4.9598 USD |
Common | Sell Transaction | 6 | 4.9600 USD |
Common | Sell Transaction | 17 | 4.9700 USD |
Common | Sell Transaction | 1,007 | 4.9737 USD |
Common | Sell Transaction | 2,548 | 4.9745 USD |
Common | Sell Transaction | 745 | 4.9773 USD |
Common | Sell Transaction | 7,007 | 4.9775 USD |
Common | Sell Transaction | 2,557 | 4.9821 USD |
Common | Sell Transaction | 1,900 | 4.9824 USD |
Common | Sell Transaction | 2,976 | 4.9853 USD |
Common | Sell Transaction | 1,000 | 4.9870 USD |
Common | Sell Transaction | 2,155 | 4.9886 USD |
Common | Sell Transaction | 350 | 4.9900 USD |
Common | Sell Transaction | 4 | 5.0000 USD |
Common | Sell Transaction | 300 | 5.0033 USD |
Common | Sell Transaction | 8,433 | 5.0071 USD |
Common | Sell Transaction | 2,100 | 5.0099 USD |
Common | Sell Transaction | 788 | 5.0198 USD |
Common | Sell Transaction | 458 | 5.0207 USD |
Common | Sell Transaction | 2,055 | 5.0218 USD |
Common | Sell Transaction | 1,196 | 5.0271 USD |
Common | Sell Transaction | 300 | 5.0400 USD |
Common | Sell Transaction | 1,341 | 5.0457 USD |
Common | Sell Transaction | 11,854 | 5.0467 USD |
Common | Sell Transaction | 38 | 5.0500 USD |
Common | Sell Transaction | 1,907 | 5.0570 USD |
Common | Sell Transaction | 200 | 5.0600 USD |
Common | Sell Transaction | 8,816 | 5.0644 USD |
Common | Sell Transaction | 200 | 5.0666 USD |
Common | Sell Transaction | 681 | 5.0780 USD |
Common | Sell Transaction | 110 | 5.0909 USD |
Common | Sell Transaction | 193 | 5.0924 USD |
Common | Sell Transaction | 30 | 5.0957 USD |
Common | Sell Transaction | 190 | 5.1050 USD |
Common | Sell Transaction | 1,017 | 5.1100 USD |
Common | Sell Transaction | 750 | 5.1120 USD |
Common | Sell Transaction | 610 | 5.1248 USD |
Common | Sell Transaction | 460 | 5.1293 USD |
Common | Sell Transaction | 295 | 5.1400 USD |
Common | Sell Transaction | 921 | 5.1772 USD |
Common | Sell Transaction | 100 | 5.1800 USD |
Common | Sell Transaction | 500 | 5.1900 USD |
Common | Sell Transaction | 16 | 5.2000 USD |
Common | Sell Transaction | 21 | 5.2005 USD |
Common | Sell Transaction | 115 | 5.2300 USD |
Common | Sell Transaction | 25 | 5.2400 USD |
Common | Sell Transaction | 100 | 5.2500 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 | Call Option | Buy Transaction | 100 | 5.0000 USD | American | 2026-06-18 | 0.3500 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) |
|
|
|
|
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 | 17 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.
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: | 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 | -2,300 | 5.0 USD
| American
| 20/11/2026
|
Common | Call Option | Purchased | 20,700 | 10.0 USD
| American
| 20/11/2026
|
Common | Put Option | Purchased | -7,600 | 5.0 USD
| American
| 17/07/2026
|
Common | Put Option | Purchased | -100 | 10.0 USD
| American
| 21/08/2026
|
Common | Put Option | Purchased | -3,100 | 5.0 USD
| American
| 18/12/2026
|
Common | Put Option | Purchased | -400 | 2.5 USD
| American
| 21/08/2026
|
Common | Call Option | Purchased | 4,000 | 10.0 USD
| American
| 18/12/2026
|
Common | Put Option | Purchased | -500 | 5.0 USD
| American
| 18/06/2026
|
Common | Put Option | Purchased | -2,500 | 7.5 USD
| American
| 18/12/2026
|
Common | Call Option | Purchased | 200 | 17.5 USD
| American
| 18/12/2026
|
Common | Put Option | Purchased | -900 | 2.5 USD
| American
| 18/12/2026
|
Common | Put Option | Purchased | -3,100 | 2.5 USD
| American
| 18/06/2026
|
Common | Put Option | Purchased | -1,100 | 7.5 USD
| American
| 21/08/2026
|
Common | Put Option | Purchased | -300 | 10.0 USD
| American
| 18/12/2026
|
Common | Put Option | Purchased | -1,400 | 5.0 USD
| American
| 21/08/2026
|
Common | Call Option | Purchased | 2,100 | 10.0 USD
| American
| 21/08/2026
|
Common | Call Option | Purchased | 50,800 | 20.0 USD
| American
| 21/08/2026
|
Common | Put Option | Sold | 36,000 | 2.5 USD
| American
| 17/07/2026
|
Common | Call Option | Sold | -16,700 | 5.0 USD
| American
| 18/12/2026
|
Common | Call Option | Sold | -100 | 5.0 USD
| American
| 20/11/2026
|
Common | Call Option | Sold | -2,000 | 2.5 USD
| American
| 18/06/2026
|
Common | Call Option | Sold | -4,900 | 5.0 USD
| American
| 21/08/2026
|
Common | Call Option | Sold | -2,000 | 7.5 USD
| American
| 18/06/2026
|
Common | Call Option | Sold | -2,400 | 2.5 USD
| American
| 21/08/2026
|
Common | Call Option | Sold | -500 | 15.0 USD
| American
| 18/12/2026
|
Common | Call Option | Sold | -900 | 7.5 USD
| American
| 21/08/2026
|
Common | Call Option | Sold | -200 | 5.0 USD
| American
| 18/06/2026
|
Common | Call Option | Sold | -3,000 | 7.5 USD
| American
| 20/11/2026
|
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 | 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: |
|
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.
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