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19 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 | 18 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 | 876,004 | 1.17 | 140,793 | 0.18 |
(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 | 63,400 | 0.08 |
Total | 989,804 | 1.32 | 204,193 | 0.27 |
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 | 4.3300 USD |
Common | Buy Transaction | 504 | 4.3350 USD |
Common | Buy Transaction | 509 | 4.3407 USD |
Common | Buy Transaction | 345 | 4.3408 USD |
Common | Buy Transaction | 238 | 4.3432 USD |
Common | Buy Transaction | 430 | 4.3435 USD |
Common | Buy Transaction | 11 | 4.3436 USD |
Common | Buy Transaction | 6,063 | 4.3470 USD |
Common | Buy Transaction | 7,483 | 4.3493 USD |
Common | Buy Transaction | 7,600 | 4.3500 USD |
Common | Buy Transaction | 246 | 4.3513 USD |
Common | Buy Transaction | 563 | 4.3520 USD |
Common | Buy Transaction | 10,001 | 4.3543 USD |
Common | Buy Transaction | 200 | 4.3550 USD |
Common | Buy Transaction | 27 | 4.3552 USD |
Common | Buy Transaction | 2,010 | 4.3571 USD |
Common | Buy Transaction | 3 | 4.3600 USD |
Common | Buy Transaction | 6,073 | 4.3616 USD |
Common | Buy Transaction | 778 | 4.3636 USD |
Common | Buy Transaction | 2,700 | 4.3656 USD |
Common | Buy Transaction | 3 | 4.3667 USD |
Common | Buy Transaction | 3,086 | 4.3695 USD |
Common | Buy Transaction | 5,400 | 4.3700 USD |
Common | Buy Transaction | 924 | 4.3733 USD |
Common | Buy Transaction | 3 | 4.3733 USD |
Common | Buy Transaction | 3 | 4.3767 USD |
Common | Buy Transaction | 76 | 4.3800 USD |
Common | Buy Transaction | 4,202 | 4.3814 USD |
Common | Buy Transaction | 800 | 4.3838 USD |
Common | Buy Transaction | 678 | 4.3875 USD |
Common | Buy Transaction | 9 | 4.3889 USD |
Common | Buy Transaction | 1,800 | 4.3900 USD |
Common | Buy Transaction | 64 | 4.3902 USD |
Common | Buy Transaction | 600 | 4.3917 USD |
Common | Buy Transaction | 500 | 4.3920 USD |
Common | Buy Transaction | 5,801 | 4.3978 USD |
Common | Buy Transaction | 101 | 4.4000 USD |
Common | Buy Transaction | 250 | 4.4020 USD |
Common | Buy Transaction | 397 | 4.4034 USD |
Common | Buy Transaction | 1,800 | 4.4086 USD |
Common | Buy Transaction | 31,347 | 4.4100 USD |
Common | Buy Transaction | 2,715 | 4.4101 USD |
Common | Buy Transaction | 1,226 | 4.4155 USD |
Common | Buy Transaction | 414 | 4.4156 USD |
Common | Buy Transaction | 924 | 4.4166 USD |
Common | Buy Transaction | 9,319 | 4.4196 USD |
Common | Buy Transaction | 100 | 4.4200 USD |
Common | Buy Transaction | 570 | 4.4209 USD |
Common | Buy Transaction | 3 | 4.4233 USD |
Common | Buy Transaction | 122 | 4.4250 USD |
Common | Buy Transaction | 2,853 | 4.4254 USD |
Common | Buy Transaction | 3 | 4.4267 USD |
Common | Buy Transaction | 3,155 | 4.4276 USD |
Common | Buy Transaction | 1,797 | 4.4298 USD |
Common | Buy Transaction | 324 | 4.4324 USD |
Common | Buy Transaction | 871 | 4.4326 USD |
Common | Buy Transaction | 910 | 4.4338 USD |
Common | Buy Transaction | 56 | 4.4350 USD |
Common | Buy Transaction | 400 | 4.4375 USD |
Common | Buy Transaction | 500 | 4.4380 USD |
Common | Buy Transaction | 301 | 4.4400 USD |
Common | Buy Transaction | 320 | 4.4437 USD |
Common | Buy Transaction | 180 | 4.4458 USD |
Common | Buy Transaction | 3 | 4.4467 USD |
Common | Buy Transaction | 1,112 | 4.4488 USD |
Common | Buy Transaction | 387 | 4.4492 USD |
Common | Buy Transaction | 910 | 4.4530 USD |
Common | Buy Transaction | 250 | 4.4540 USD |
Common | Buy Transaction | 282 | 4.4596 USD |
Common | Buy Transaction | 705 | 4.4600 USD |
Common | Buy Transaction | 1,429 | 4.4659 USD |
Common | Buy Transaction | 4 | 4.4675 USD |
Common | Buy Transaction | 305 | 4.4700 USD |
Common | Buy Transaction | 552 | 4.4714 USD |
Common | Buy Transaction | 2 | 4.4750 USD |
Common | Buy Transaction | 437 | 4.4820 USD |
Common | Buy Transaction | 814 | 4.5091 USD |
Common | Buy Transaction | 1 | 4.7500 USD |
Common | Buy Transaction | 1,250 | 4.8000 USD |
Common | Buy Transaction | 35 | 19.3800 USD |
Common | Sell Transaction | 56 | 4.3246 USD |
Common | Sell Transaction | 111 | 4.3389 USD |
Common | Sell Transaction | 80 | 4.3400 USD |
Common | Sell Transaction | 50 | 4.3500 USD |
Common | Sell Transaction | 11 | 4.3582 USD |
Common | Sell Transaction | 50 | 4.3582 USD |
Common | Sell Transaction | 25,681 | 4.3584 USD |
Common | Sell Transaction | 29 | 4.3600 USD |
Common | Sell Transaction | 144 | 4.3678 USD |
Common | Sell Transaction | 530 | 4.3690 USD |
Common | Sell Transaction | 110 | 4.3700 USD |
Common | Sell Transaction | 70 | 4.3717 USD |
Common | Sell Transaction | 924 | 4.3733 USD |
Common | Sell Transaction | 253 | 4.3765 USD |
Common | Sell Transaction | 137 | 4.3765 USD |
Common | Sell Transaction | 3,079 | 4.3765 USD |
Common | Sell Transaction | 257 | 4.3768 USD |
Common | Sell Transaction | 1,320 | 4.3770 USD |
Common | Sell Transaction | 341 | 4.3772 USD |
Common | Sell Transaction | 1,921 | 4.3800 USD |
Common | Sell Transaction | 175 | 4.3823 USD |
Common | Sell Transaction | 272 | 4.3824 USD |
Common | Sell Transaction | 92 | 4.3834 USD |
Common | Sell Transaction | 829 | 4.3836 USD |
Common | Sell Transaction | 99 | 4.3848 USD |
Common | Sell Transaction | 5 | 4.3860 USD |
Common | Sell Transaction | 288 | 4.3860 USD |
Common | Sell Transaction | 9,837 | 4.3862 USD |
Common | Sell Transaction | 750 | 4.3880 USD |
Common | Sell Transaction | 205 | 4.3900 USD |
Common | Sell Transaction | 4,476 | 4.3909 USD |
Common | Sell Transaction | 15,590 | 4.3923 USD |
Common | Sell Transaction | 213 | 4.3944 USD |
Common | Sell Transaction | 1,561 | 4.3958 USD |
Common | Sell Transaction | 5 | 4.3960 USD |
Common | Sell Transaction | 623 | 4.3965 USD |
Common | Sell Transaction | 136 | 4.3969 USD |
Common | Sell Transaction | 2,014 | 4.3984 USD |
Common | Sell Transaction | 3,563 | 4.4000 USD |
Common | Sell Transaction | 994 | 4.4013 USD |
Common | Sell Transaction | 286 | 4.4023 USD |
Common | Sell Transaction | 900 | 4.4033 USD |
Common | Sell Transaction | 256 | 4.4035 USD |
Common | Sell Transaction | 2,186 | 4.4037 USD |
Common | Sell Transaction | 81 | 4.4041 USD |
Common | Sell Transaction | 1,154 | 4.4053 USD |
Common | Sell Transaction | 900 | 4.4067 USD |
Common | Sell Transaction | 2,975 | 4.4072 USD |
Common | Sell Transaction | 1,200 | 4.4083 USD |
Common | Sell Transaction | 8,150 | 4.4100 USD |
Common | Sell Transaction | 1,798 | 4.4105 USD |
Common | Sell Transaction | 601 | 4.4118 USD |
Common | Sell Transaction | 336 | 4.4135 USD |
Common | Sell Transaction | 160 | 4.4138 USD |
Common | Sell Transaction | 4,889 | 4.4165 USD |
Common | Sell Transaction | 418 | 4.4200 USD |
Common | Sell Transaction | 3,986 | 4.4210 USD |
Common | Sell Transaction | 799 | 4.4213 USD |
Common | Sell Transaction | 400 | 4.4250 USD |
Common | Sell Transaction | 2,905 | 4.4255 USD |
Common | Sell Transaction | 805 | 4.4265 USD |
Common | Sell Transaction | 598 | 4.4267 USD |
Common | Sell Transaction | 3,083 | 4.4273 USD |
Common | Sell Transaction | 153 | 4.4300 USD |
Common | Sell Transaction | 1,867 | 4.4306 USD |
Common | Sell Transaction | 88 | 4.4316 USD |
Common | Sell Transaction | 2,137 | 4.4330 USD |
Common | Sell Transaction | 2,695 | 4.4333 USD |
Common | Sell Transaction | 2,721 | 4.4338 USD |
Common | Sell Transaction | 633 | 4.4339 USD |
Common | Sell Transaction | 450 | 4.4344 USD |
Common | Sell Transaction | 502 | 4.4359 USD |
Common | Sell Transaction | 12 | 4.4367 USD |
Common | Sell Transaction | 1 | 4.4400 USD |
Common | Sell Transaction | 970 | 4.4470 USD |
Common | Sell Transaction | 628 | 4.4500 USD |
Common | Sell Transaction | 765 | 4.4522 USD |
Common | Sell Transaction | 400 | 4.4531 USD |
Common | Sell Transaction | 235 | 4.4550 USD |
Common | Sell Transaction | 251 | 4.4566 USD |
Common | Sell Transaction | 472 | 4.4567 USD |
Common | Sell Transaction | 200 | 4.4580 USD |
Common | Sell Transaction | 902 | 4.4589 USD |
Common | Sell Transaction | 340 | 4.4595 USD |
Common | Sell Transaction | 317 | 4.4600 USD |
Common | Sell Transaction | 24 | 4.4625 USD |
Common | Sell Transaction | 190 | 4.4700 USD |
Common | Sell Transaction | 5 | 4.4760 USD |
Common | Sell Transaction | 10 | 4.4800 USD |
Common | Sell Transaction | 2,000 | 4.4900 USD |
Common | Sell Transaction | 108 | 4.5190 USD |
Common | Sell Transaction | 300 | 4.5533 USD |
Common | Sell Transaction | 233 | 4.5788 USD |
Common | Sell Transaction | 8 | 4.5800 USD |
Common | Sell Transaction | 300 | 4.5833 USD |
Common | Sell Transaction | 1,000 | 4.6000 USD |
Common | Sell Transaction | 2 | 4.7000 USD |
Common | Sell Transaction | 1 | 4.7500 USD |
Common | Sell Transaction | 1,122 | 4.7600 USD |
Common | Sell Transaction | 975 | 4.7700 USD |
Common | Sell Transaction | 35 | 19.3800 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) | 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 | 0.0500 USD |
Common | Put Option | Buy Transaction | 400 | 5.0000 USD | American | 2026-07-17 | 0.9000 USD |
Common | Call Option | Buy Transaction | 6,000 | 5.0000 USD | American | 2026-12-18 | 1.0000 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 | OPTION_ASSIGNMENT | 1,800 | 2.5000 USD |
Common | Put Option | OPTION_EXERCISE | 500 | 5.0000 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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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 | 19 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 | -300 | 10.0 USD
| American
| 18/12/2026
|
Common | Put Option | Purchased | -900 | 2.5 USD
| American
| 18/12/2026
|
Common | Call Option | Purchased | 200 | 17.5 USD
| American
| 18/12/2026
|
Common | Put Option | Purchased | -8,000 | 5.0 USD
| American
| 17/07/2026
|
Common | Call Option | Purchased | 50,800 | 20.0 USD
| American
| 21/08/2026
|
Common | Put Option | Purchased | -100 | 10.0 USD
| American
| 21/08/2026
|
Common | Put Option | Purchased | -1,100 | 7.5 USD
| American
| 21/08/2026
|
Common | Put Option | Purchased | -3,100 | 5.0 USD
| American
| 18/12/2026
|
Common | Call Option | Purchased | 4,000 | 10.0 USD
| American
| 18/12/2026
|
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 | 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 | 20,700 | 10.0 USD
| American
| 20/11/2026
|
Common | Put Option | Purchased | -1,400 | 5.0 USD
| American
| 21/08/2026
|
Common | Call Option | Sold | -2,400 | 2.5 USD
| American
| 21/08/2026
|
Common | Call Option | Sold | -2,000 | 7.5 USD
| American
| 18/06/2026
|
Common | Call Option | Sold | -9,100 | 7.5 USD
| American
| 18/12/2026
|
Common | Call Option | Sold | -10,700 | 5.0 USD
| American
| 18/12/2026
|
Common | Call Option | Sold | -100 | 5.0 USD
| American
| 18/06/2026
|
Common | Call Option | Sold | -4,900 | 5.0 USD
| American
| 21/08/2026
|
Common | Call Option | Sold | -900 | 7.5 USD
| American
| 21/08/2026
|
Common | Call Option | Sold | -600 | 2.5 USD
| American
| 18/12/2026
|
Common | Call Option | Sold | -3,000 | 7.5 USD
| American
| 20/11/2026
|
Common | Call Option | Sold | -9,000 | 20.0 USD
| American
| 18/12/2026
|
Common | Call Option | Sold | -500 | 15.0 USD
| American
| 18/12/2026
|
Common | Put Option | Sold | 36,000 | 2.5 USD
| American
| 17/07/2026
|
Common | Call Option | Sold | -100 | 5.0 USD
| American
| 20/11/2026
|
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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