DJ Form 8.3 - Zürcher Kantonalbank: Avadel Pharmaceuticals plc
Zürcher Kantonalbank (AVDL)
Form 8.3 - Zürcher Kantonalbank: Avadel Pharmaceuticals plc
18-Nov-2025 / 17:52 CET/CEST
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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 Zurcher Kantonalbank and
subsidiaries
(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.
(c) Name of offeror/offeree in relation to whose relevant securities this form relates
Avadel Pharmaceuticals plc
Use a separate form for each offeror/offeree
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify
identity of offeror/offeree (Note 1)
(e) Date position held/dealing undertaken
17th November 2025
For an opening position disclosure, state the latest practicable date prior to the
disclosure
(f) In addition to the company in 1(c) above, is the discloser also making disclosures in NO
respect of any other party to the offer?
If it is a cash offer or possible cash offer, state "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.
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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 Ordinary Shares
(Note 3)
Interests Short positions
Number % Number %
(1) Relevant securities owned and/or controlled 1'143'058 1.17
(2) Cash-settled derivatives
(3) Stock-settled derivatives (including options) and agreements to
purchase/ sell
Total 1'143'058 1.17
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 Purchase/sale Number of Price per unit security securities (Note 5)
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(b) Cash-settled derivative transactions
Class of Product Nature of dealing Number of Price
relevant description e.g. opening/ closing a long/ short position, increasing/ reducing a reference per unit
security e.g. CFD long/ short position securities (Note 5)
(Note 6)
(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
Number
Product of Exercise Type Option
Class of description e.g. Writing, purchasing, securities price e.g. Expiry money
relevant call selling, varying to which per American, date paid/
security option etc. option unit European received per unit
relates etc.
(Note 6)
(ii) Exercise
Class of Product Exercising/ Exercise
relevant description exercised Number of price per
security e.g. call against securities unit
option (Note 5)
(d) Other dealings (including transactions in respect of new securities) (Note 3)
Class of Nature of dealing Price per unit (if relevant e.g. subscription, Details applicable) security conversion, exercise (Note 5) USD0.01 Title Transfer Collateral Receive 311'236 n/a Ordinary Shares USD0.01 Title Transfer Collateral Deliver -53'484 n/a Ordinary Shares USD0.01 Title Transfer Collateral Deliver -124'529 n/a Ordinary Shares
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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"
(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.
(c) Attachments
Is a Supplemental Form 8 attached? NO Date of disclosure 18.11.2025 Contact name Marco Furegati Telephone number +41 44 292 26 81
Public disclosures under Rule 8.3 of the Rules must be made to a Regulatory Information Service.
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NOTES ON FORM 8.3
1. See the definition of "connected fund manager" in Rule 2.2 of Part A of the Rules.
2. See the definition of "interest in a relevant security" in Rule 2.5 of Part A of the Rules and see Rule 8.6(a) and (b) of Part B of the Rules.
3. See the definition of "relevant securities" in Rule 2.1 of Part A of the Rules.
4. See the definition of "dealing" in Rule 2.1 of Part A of the Rules.
5. If the economic exposure to changes in the price of securities is limited, for example, by virtue of a stop loss arrangement relating to a spread bet, full details must be given.
6. See Rule 2.5(d) of Part A of the Rules.
7. If details included in a disclosure under Rule 8 are incorrect, they should be corrected as soon as practicable in a subsequent disclosure. Such disclosure should state clearly that it corrects details disclosed previously, identify the disclosure or disclosures being corrected, and provide sufficient detail for the reader to understand the nature of the corrections. In the case of any doubt, the Panel should be consulted.
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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Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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Category Code: RET - Avadel Pharmaceuticals plc TIDM: AVDL LEI Code: 165GRDQ39W63PHVONY02 Sequence No.: 408651 EQS News ID: 2232024 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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