RBCH Ltd. Requisitions EGM to Replace Brera Holdings Board Amid Governance Concerns

RBCH Ltd. filed Amendment No. 4 to its Schedule 13D regarding Brera Holdings PLC (SLMT), reporting a 22.74% ownership stake consisting of 1,111,111 Class B Ordinary Shares and warrants for an additional 1,111,111 shares. On May 10, 2026, RBCH exercised pre-funded warrants for 273,212 shares. Crucially, the filing includes a formal Requisition Letter dated May 26, 2026, demanding an extraordinary general meeting to remove the entire current board of directors, including CEO Ron Sade. RBCH expresses serious concerns regarding corporate governance, alleging self-dealing via a recent insider-led Registered Direct Offering and a "poison pill" rights agreement that benefited insiders at the expense of other shareholders. RBCH further cites mismanagement leading to a NASDAQ delisting notice and a failure to implement the company's stated DAT strategy. RBCH proposes a new slate of independent directors, including Viktor Fischer and Lucas Bruder, to restore operational efficiency and shareholder value. All share amounts reflect a 1-for-10 reverse stock split effective May 14, 2026.