/Equities/XLON/TTM/RNS

Form 8.3 - Forward Industries Inc

RNS Number : 2216K

Citadel Group

29 June 2026

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	26 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	239,224	0.32
(2) Cash-settled derivatives	0	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/ sell	115,200	0.15	54,000	0.07
Total	900,984	1.20	293,224	0.39

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 relevant security	Purchase/sale	Number of securities	Price per unit (Note 5)
Common	Buy Transaction	200	3.6000 USD
Common	Buy Transaction	2,097	3.6587 USD
Common	Buy Transaction	7	3.6600 USD
Common	Buy Transaction	61	3.7000 USD
Common	Buy Transaction	12,240	3.7014 USD
Common	Buy Transaction	3	3.7033 USD
Common	Buy Transaction	600	3.7300 USD
Common	Buy Transaction	1,242	3.7354 USD
Common	Buy Transaction	600	3.7417 USD
Common	Buy Transaction	253	3.7479 USD
Common	Buy Transaction	198	3.7646 USD
Common	Buy Transaction	100	3.7690 USD
Common	Buy Transaction	100	3.7700 USD
Common	Buy Transaction	9,026	3.8000 USD
Common	Buy Transaction	5	3.8040 USD
Common	Buy Transaction	1,397	3.8068 USD
Common	Buy Transaction	746	3.8100 USD
Common	Buy Transaction	27	3.8133 USD
Common	Buy Transaction	2	3.8150 USD
Common	Buy Transaction	1,550	3.8181 USD
Common	Buy Transaction	44	3.8200 USD
Common	Buy Transaction	901	3.8300 USD
Common	Buy Transaction	1,640	3.8308 USD
Common	Buy Transaction	711	3.8332 USD
Common	Buy Transaction	110	3.8336 USD
Common	Buy Transaction	420	3.8370 USD
Common	Buy Transaction	1	3.8400 USD
Common	Buy Transaction	476	3.8500 USD
Common	Buy Transaction	639	3.8501 USD
Common	Buy Transaction	234	3.8550 USD
Common	Buy Transaction	200	3.8575 USD
Common	Buy Transaction	178	3.8575 USD
Common	Buy Transaction	431	3.8592 USD
Common	Buy Transaction	2,874	3.8600 USD
Common	Buy Transaction	203	3.8602 USD
Common	Buy Transaction	338	3.8614 USD
Common	Buy Transaction	2,201	3.8631 USD
Common	Buy Transaction	1,787	3.8658 USD
Common	Buy Transaction	1,828	3.8700 USD
Common	Buy Transaction	6,384	3.8728 USD
Common	Buy Transaction	6,655	3.8731 USD
Common	Buy Transaction	10,845	3.8738 USD
Common	Buy Transaction	5,007	3.8751 USD
Common	Buy Transaction	1,339	3.8800 USD
Common	Buy Transaction	4,303	3.8828 USD
Common	Buy Transaction	12,464	3.8867 USD
Common	Buy Transaction	13	3.8885 USD
Common	Buy Transaction	7,255	3.8888 USD
Common	Buy Transaction	618	3.8900 USD
Common	Buy Transaction	252	3.8919 USD
Common	Buy Transaction	3,015	3.8940 USD
Common	Buy Transaction	2,503	3.8968 USD
Common	Buy Transaction	2,578	3.8984 USD
Common	Buy Transaction	200	3.9000 USD
Common	Buy Transaction	705	3.9006 USD
Common	Buy Transaction	173	3.9020 USD
Common	Buy Transaction	921	3.9022 USD
Common	Buy Transaction	900	3.9026 USD
Common	Buy Transaction	1,408	3.9055 USD
Common	Buy Transaction	1,340	3.9064 USD
Common	Buy Transaction	4,858	3.9065 USD
Common	Buy Transaction	600	3.9067 USD
Common	Buy Transaction	1,784	3.9070 USD
Common	Buy Transaction	2,846	3.9079 USD
Common	Buy Transaction	2,138	3.9088 USD
Common	Buy Transaction	38,840	3.9092 USD
Common	Buy Transaction	1,251	3.9100 USD
Common	Buy Transaction	8,716	3.9115 USD
Common	Buy Transaction	2,110	3.9134 USD
Common	Buy Transaction	2	3.9150 USD
Common	Buy Transaction	191	3.9152 USD
Common	Buy Transaction	206	3.9164 USD
Common	Buy Transaction	538	3.9168 USD
Common	Buy Transaction	23	3.9170 USD
Common	Buy Transaction	10,543	3.9197 USD
Common	Buy Transaction	954	3.9200 USD
Common	Buy Transaction	822	3.9200 USD
Common	Buy Transaction	1,031	3.9211 USD
Common	Buy Transaction	6,532	3.9214 USD
Common	Buy Transaction	2,113	3.9215 USD
Common	Buy Transaction	16,294	3.9223 USD
Common	Buy Transaction	1,500	3.9233 USD
Common	Buy Transaction	2,699	3.9234 USD
Common	Buy Transaction	872	3.9235 USD
Common	Buy Transaction	1,767	3.9237 USD
Common	Buy Transaction	1,069	3.9238 USD
Common	Buy Transaction	426	3.9250 USD
Common	Buy Transaction	278	3.9257 USD
Common	Buy Transaction	2,290	3.9264 USD
Common	Buy Transaction	1,000	3.9270 USD
Common	Buy Transaction	2,004	3.9270 USD
Common	Buy Transaction	700	3.9271 USD
Common	Buy Transaction	2,995	3.9276 USD
Common	Buy Transaction	848	3.9279 USD
Common	Buy Transaction	6	3.9283 USD
Common	Buy Transaction	8,075	3.9300 USD
Common	Buy Transaction	1,000	3.9314 USD
Common	Buy Transaction	1,137	3.9326 USD
Common	Buy Transaction	3,301	3.9331 USD
Common	Buy Transaction	2,351	3.9351 USD
Common	Buy Transaction	1,557	3.9355 USD
Common	Buy Transaction	720	3.9383 USD
Common	Buy Transaction	747	3.9400 USD
Common	Buy Transaction	205	3.9404 USD
Common	Buy Transaction	500	3.9420 USD
Common	Buy Transaction	44	3.9427 USD
Common	Buy Transaction	448	3.9450 USD
Common	Buy Transaction	1,675	3.9464 USD
Common	Buy Transaction	414	3.9464 USD
Common	Buy Transaction	2,592	3.9485 USD
Common	Buy Transaction	713	3.9500 USD
Common	Buy Transaction	405	3.9538 USD
Common	Buy Transaction	6	3.9550 USD
Common	Buy Transaction	333	3.9550 USD
Common	Buy Transaction	199	3.9554 USD
Common	Buy Transaction	680	3.9571 USD
Common	Buy Transaction	685	3.9593 USD
Common	Buy Transaction	5,825	3.9600 USD
Common	Buy Transaction	2,956	3.9645 USD
Common	Buy Transaction	210	3.9649 USD
Common	Buy Transaction	100	3.9700 USD
Common	Buy Transaction	415	3.9750 USD
Common	Buy Transaction	3	3.9800 USD
Common	Buy Transaction	2,246	3.9842 USD
Common	Buy Transaction	17	3.9853 USD
Common	Buy Transaction	35	3.9900 USD
Common	Buy Transaction	3,578	4.0055 USD
Common	Buy Transaction	650	4.0190 USD
Common	Buy Transaction	16,111	4.0267 USD
Common	Buy Transaction	7,003	4.0482 USD
Common	Buy Transaction	170	4.0658 USD
Common	Buy Transaction	2,236	4.0674 USD
Common	Buy Transaction	56	4.0693 USD
Common	Buy Transaction	100	4.0700 USD
Common	Buy Transaction	4,800	4.0799 USD
Common	Buy Transaction	8,762	4.0800 USD
Common	Buy Transaction	11	4.0955 USD
Common	Sell Transaction	1,302	3.9600 USD
Common	Sell Transaction	600	3.4917 USD
Common	Sell Transaction	10	3.4990 USD
Common	Sell Transaction	833	3.5000 USD
Common	Sell Transaction	6	3.5767 USD
Common	Sell Transaction	200	3.5953 USD
Common	Sell Transaction	3,000	3.6000 USD
Common	Sell Transaction	203	3.6200 USD
Common	Sell Transaction	20	3.6345 USD
Common	Sell Transaction	1,950	3.6400 USD
Common	Sell Transaction	7,254	3.6458 USD
Common	Sell Transaction	415	3.6800 USD
Common	Sell Transaction	6	3.6817 USD
Common	Sell Transaction	99	3.6900 USD
Common	Sell Transaction	88	3.6968 USD
Common	Sell Transaction	20	3.7340 USD
Common	Sell Transaction	437	3.7431 USD
Common	Sell Transaction	340	3.7453 USD
Common	Sell Transaction	670	3.7599 USD
Common	Sell Transaction	800	3.7600 USD
Common	Sell Transaction	280	3.7775 USD
Common	Sell Transaction	283	3.7783 USD
Common	Sell Transaction	2,380	3.7794 USD
Common	Sell Transaction	1,231	3.7826 USD
Common	Sell Transaction	100	3.7994 USD
Common	Sell Transaction	2,111	3.7998 USD
Common	Sell Transaction	9,790	3.8000 USD
Common	Sell Transaction	789	3.8123 USD
Common	Sell Transaction	800	3.8138 USD
Common	Sell Transaction	483	3.8146 USD
Common	Sell Transaction	17	3.8147 USD
Common	Sell Transaction	823	3.8258 USD
Common	Sell Transaction	1,716	3.8259 USD
Common	Sell Transaction	28	3.8286 USD
Common	Sell Transaction	3,692	3.8298 USD
Common	Sell Transaction	591	3.8300 USD
Common	Sell Transaction	700	3.8357 USD
Common	Sell Transaction	4,883	3.8375 USD
Common	Sell Transaction	2,383	3.8386 USD
Common	Sell Transaction	1	3.8400 USD
Common	Sell Transaction	1,589	3.8426 USD
Common	Sell Transaction	200	3.8450 USD
Common	Sell Transaction	3	3.8467 USD
Common	Sell Transaction	2,250	3.8476 USD
Common	Sell Transaction	15	3.8500 USD
Common	Sell Transaction	10,655	3.8510 USD
Common	Sell Transaction	922	3.8519 USD
Common	Sell Transaction	926	3.8550 USD
Common	Sell Transaction	1,520	3.8558 USD
Common	Sell Transaction	2,874	3.8599 USD
Common	Sell Transaction	1,964	3.8612 USD
Common	Sell Transaction	373	3.8632 USD
Common	Sell Transaction	363	3.8678 USD
Common	Sell Transaction	9,900	3.8700 USD
Common	Sell Transaction	483	3.8773 USD
Common	Sell Transaction	7	3.8814 USD
Common	Sell Transaction	8,064	3.8817 USD
Common	Sell Transaction	260	3.8831 USD
Common	Sell Transaction	120	3.8850 USD
Common	Sell Transaction	544	3.8851 USD
Common	Sell Transaction	1,138	3.8877 USD
Common	Sell Transaction	165	3.8892 USD
Common	Sell Transaction	224	3.8900 USD
Common	Sell Transaction	43	3.8919 USD
Common	Sell Transaction	1,097	3.8943 USD
Common	Sell Transaction	6,900	3.8951 USD
Common	Sell Transaction	1	3.9000 USD
Common	Sell Transaction	855	3.9054 USD
Common	Sell Transaction	248	3.9059 USD
Common	Sell Transaction	701	3.9086 USD
Common	Sell Transaction	157	3.9094 USD
Common	Sell Transaction	6,685	3.9100 USD
Common	Sell Transaction	105	3.9110 USD
Common	Sell Transaction	2,093	3.9119 USD
Common	Sell Transaction	3,623	3.9150 USD
Common	Sell Transaction	502	3.9150 USD
Common	Sell Transaction	95	3.9151 USD
Common	Sell Transaction	1,076	3.9152 USD
Common	Sell Transaction	820	3.9161 USD
Common	Sell Transaction	1,562	3.9174 USD
Common	Sell Transaction	91	3.9175 USD
Common	Sell Transaction	900	3.9178 USD
Common	Sell Transaction	13	3.9185 USD
Common	Sell Transaction	759	3.9187 USD
Common	Sell Transaction	97	3.9192 USD
Common	Sell Transaction	359	3.9200 USD
Common	Sell Transaction	712	3.9232 USD
Common	Sell Transaction	298	3.9242 USD
Common	Sell Transaction	300	3.9300 USD
Common	Sell Transaction	1,950	3.9326 USD
Common	Sell Transaction	1,500	3.9340 USD
Common	Sell Transaction	2,538	3.9347 USD
Common	Sell Transaction	1,314	3.9351 USD
Common	Sell Transaction	746	3.9366 USD
Common	Sell Transaction	700	3.9371 USD
Common	Sell Transaction	137	3.9399 USD
Common	Sell Transaction	327	3.9400 USD
Common	Sell Transaction	76	3.9428 USD
Common	Sell Transaction	700	3.9443 USD
Common	Sell Transaction	1,148	3.9452 USD
Common	Sell Transaction	6,000	3.9490 USD
Common	Sell Transaction	1,386	3.9500 USD
Common	Sell Transaction	333	3.9550 USD
Common	Sell Transaction	45,778	3.9600 USD
Common	Sell Transaction	1,668	3.9617 USD
Common	Sell Transaction	425	3.9624 USD
Common	Sell Transaction	2,536	3.9698 USD
Common	Sell Transaction	142	4.0156 USD
Common	Sell Transaction	650	4.0190 USD
Common	Sell Transaction	24,544	4.0191 USD
Common	Sell Transaction	101	4.0586 USD
Common	Sell Transaction	198	4.0600 USD
Common	Sell Transaction	8	4.0700 USD
Common	Sell Transaction	412	4.0800 USD
Common	Sell Transaction	15	4.0900 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)
Common	CFD	Closing short position	1,382	3.9200 USD

(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)	Exercise price per unit	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit
Common	Call Option	Buy Transaction	1,800	5.0000 USD	American	2026-12-18	0.6500 USD
Common	Put Option	Buy Transaction	300	7.5000 USD	American	2027-02-19	4.3300 USD
Common	Put Option	Sell Transaction	300	7.5000 USD	American	2026-08-21	3.9800 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

Is a Supplemental Form 8 attached?

YES

Date of disclosure	29 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) AND
RULE 38.6 OF THE IRISH TAKEOVER PANEL ACT, 1997,
TAKEOVER RULES, 2022

DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING
OPTION) POSITIONS, AGREEMENTS TO PURCHASE OR SELL AND
RIGHTS 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 to which option or 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	Put Option	Purchased	-100	10.0 USD	American	21/08/2026
Common	Call Option	Purchased	50,800	20.0 USD	American	21/08/2026
Common	Call Option	Purchased	200	17.5 USD	American	18/12/2026
Common	Put Option	Purchased	-8,500	5.0 USD	American	17/07/2026
Common	Put Option	Purchased	-2,500	7.5 USD	American	18/12/2026
Common	Call Option	Purchased	2,100	10.0 USD	American	21/08/2026
Common	Call Option	Purchased	21,200	10.0 USD	American	20/11/2026
Common	Put Option	Purchased	-300	7.5 USD	American	19/02/2027
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	-1,400	5.0 USD	American	21/08/2026
Common	Put Option	Purchased	-2,100	5.0 USD	American	18/12/2026
Common	Put Option	Purchased	-800	7.5 USD	American	21/08/2026
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	900	5.0 USD	American	17/07/2026
Common	Put Option	Sold	36,000	2.5 USD	American	17/07/2026
Common	Call Option	Sold	-200	15.0 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	-5,000	5.0 USD	American	18/12/2026
Common	Call Option	Sold	-100	7.5 USD	American	21/08/2026
Common	Call Option	Sold	-100	5.0 USD	American	20/11/2026
Common	Call Option	Sold	-2,400	2.5 USD	American	21/08/2026
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	-4,900	5.0 USD	American	21/08/2026

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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END

ITPBXGDLIDDDGLC

Date	29 Jun 2026
Time	15:00:00
Category	Miscellaneous
ID	2216K

Date	29 Jun 2026
Time	15:00:00
Category	Miscellaneous
ID	2216K

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Form 8.3 - Forward Industries Inc