FORM 8.3 - NATIONAL EXPRESS GROUP PLC

FORM 8.3 - NATIONAL EXPRESS GROUP PLC

BARCLAYS PLC

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the “Code”)

1. KEY INFORMATION

(a)	Full name of discloser:				Barclays PLC.
(b)	Owner or controller of interest and short
	positions disclosed, if different from 1(a):
(c)	Name of offeror/offeree in relation to whose				NATIONAL EXPRESS GROUP PLC
	relevant securities this form relates:
(d)	If an exempt fund manager connected with an
	offeror/offeree, state this and specify identity of
	offeror/offeree:
(e)	Date position held/dealing undertaken:				27 September 2021
(f)	In addition to the company in 1(c) above, is the discloser making				YES:
	disclosures in respect of any other party to the offer?				STAGECOACH GROUP PLC

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:			5p ordinary
			Interests		Short Positions
			Number	(%)	Number	(%)
(1)	Relevant securities owned
	and/or controlled:		1,871,817	0.30%	4,853,237	0.79%
(2)	Cash-settled derivatives:
			4,369,009	0.71%	1,484,992	0.24%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
(4)
	TOTAL:		6,240,826	1.02%	6,338,229	1.03%

All interests and all short positions should be disclosed.

Details of 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 (Open Positions).

(b) 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:

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

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
5p ordinary		Purchase		31		2.6096 GBP
5p ordinary		Purchase		88		2.5000 GBP
5p ordinary		Purchase		282		2.5623 GBP
5p ordinary		Purchase		802		2.5514 GBP
5p ordinary		Purchase		894		2.5502 GBP
5p ordinary		Purchase		1,500		2.5827 GBP
5p ordinary		Purchase		2,242		2.6038 GBP
5p ordinary		Purchase		3,766		2.5285 GBP
5p ordinary		Purchase		3,928		2.5342 GBP
5p ordinary		Purchase		4,256		2.6140 GBP
5p ordinary		Purchase		7,249		2.5855 GBP
5p ordinary		Purchase		9,664		2.5519 GBP
5p ordinary		Purchase		10,019		2.5544 GBP
5p ordinary		Purchase		10,337		2.5511 GBP
5p ordinary		Purchase		20,775		2.6138 GBP
5p ordinary		Purchase		22,183		2.5606 GBP
5p ordinary		Purchase		30,882		2.5494 GBP
5p ordinary		Purchase		35,596		2.5731 GBP
5p ordinary		Purchase		75,573		2.5942 GBP
5p ordinary		Sale		47		2.6088 GBP
5p ordinary		Sale		166		2.5875 GBP
5p ordinary		Sale		252		2.5460 GBP
5p ordinary		Sale		726		2.5551 GBP
5p ordinary		Sale		744		2.5880 GBP
5p ordinary		Sale		757		2.5709 GBP
5p ordinary		Sale		1,430		2.6048 GBP
5p ordinary		Sale		1,774		2.5499 GBP
5p ordinary		Sale		2,079		2.5330 GBP
5p ordinary		Sale		3,119		2.5350 GBP
5p ordinary		Sale		4,847		2.5969 GBP
5p ordinary		Sale		5,354		2.5625 GBP
5p ordinary		Sale		5,936		2.5545 GBP
5p ordinary		Sale		8,383		2.5703 GBP
5p ordinary		Sale		9,397		2.5536 GBP
5p ordinary		Sale		9,510		2.5555 GBP
5p ordinary		Sale		10,815		2.6040 GBP
5p ordinary		Sale		12,899		2.5430 GBP
5p ordinary		Sale		16,584		2.6080 GBP
5p ordinary		Sale		36,597		2.6140 GBP
5p ordinary		Sale		71,880		2.5626 GBP
5p ordinary		Sale		150,929		2.6020 GBP
5p ordinary		Sale		215,637		2.5634 GBP

(b) Cash-settled derivative transactions

Class of		Product		Nature of dealing		Number of	Price per
relevant		description				reference	unit
security						securities
5p ordinary		SWAP		Long		47	2.6088 GBP
5p ordinary		SWAP		Long		166	2.5876 GBP
5p ordinary		SWAP		Long		726	2.5551 GBP
5p ordinary		SWAP		Long		757	2.5709 GBP
5p ordinary		SWAP		Long		1,057	2.5703 GBP
5p ordinary		SWAP		Long		1,430	2.6048 GBP
5p ordinary		SWAP		Long		1,774	2.5499 GBP
5p ordinary		SWAP		Long		3,600	2.5990 GBP
5p ordinary		SWAP		Long		4,537	2.6065 GBP
5p ordinary		SWAP		Long		4,919	2.6049 GBP
5p ordinary		SWAP		Long		5,348	2.5388 GBP
5p ordinary		CFD		Long		5,375	2.5761 GBP
5p ordinary		SWAP		Long		6,278	2.6021 GBP
5p ordinary		SWAP		Long		8,065	2.6139 GBP
5p ordinary		CFD		Long		15,822	2.6140 GBP
5p ordinary		SWAP		Long		17,865	2.5939 GBP
5p ordinary		CFD		Long		26,049	2.6138 GBP
5p ordinary		SWAP		Long		37,480	2.5969 GBP
5p ordinary		SWAP		Long		71,880	2.5626 GBP
5p ordinary		SWAP		Long		87,062	2.5963 GBP
5p ordinary		SWAP		Long		215,637	2.5634 GBP
5p ordinary		CFD		Short		31	2.6096 GBP
5p ordinary		SWAP		Short		282	2.5622 GBP
5p ordinary		SWAP		Short		894	2.5502 GBP
5p ordinary		SWAP		Short		1,500	2.5827 GBP
5p ordinary		SWAP		Short		2,242	2.6038 GBP
5p ordinary		SWAP		Short		3,766	2.5285 GBP
5p ordinary		CFD		Short		3,807	2.6140 GBP
5p ordinary		SWAP		Short		3,928	2.5342 GBP
5p ordinary		SWAP		Short		6,977	2.5783 GBP
5p ordinary		SWAP		Short		7,249	2.5855 GBP
5p ordinary		SWAP		Short		9,171	2.5541 GBP
5p ordinary		SWAP		Short		9,664	2.5519 GBP
5p ordinary		SWAP		Short		10,337	2.5511 GBP
5p ordinary		SWAP		Short		16,856	2.5527 GBP
5p ordinary		SWAP		Short		35,596	2.5731 GBP
5p ordinary		SWAP		Short		75,573	2.5942 GBP

(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	Exercise price per unit	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit

(ii) Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security	Nature of dealing e.g. subscription, conversion	Details	Price per unit (if applicable)

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

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state “none”

None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?				NO
Date of disclosure:				28 Sep 2021
Contact name:				Large Holdings Regulatory Operations
Telephone number:				020 3134 7213

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on [phone].

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel’s Market Surveillance Unit.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

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