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:				24 November 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:		932,160	0.15%	6,685,174	1.09%
(2)	Cash-settled derivatives:
			6,368,100	1.04%	761,202	0.12%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
(4)
	TOTAL:		7,300,260	1.19%	7,446,376	1.21%

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		410		2.1680 GBP
5p ordinary		Purchase		525		2.1957 GBP
5p ordinary		Purchase		1,027		2.1769 GBP
5p ordinary		Purchase		1,643		2.1890 GBP
5p ordinary		Purchase		1,706		2.1620 GBP
5p ordinary		Purchase		2,079		2.1726 GBP
5p ordinary		Purchase		2,419		2.1929 GBP
5p ordinary		Purchase		3,378		2.1701 GBP
5p ordinary		Purchase		5,383		2.1744 GBP
5p ordinary		Purchase		5,754		2.1846 GBP
5p ordinary		Purchase		9,412		2.1722 GBP
5p ordinary		Purchase		17,500		2.1880 GBP
5p ordinary		Purchase		29,441		2.1720 GBP
5p ordinary		Purchase		61,493		2.1684 GBP
5p ordinary		Sale		133		2.1700 GBP
5p ordinary		Sale		292		2.2160 GBP
5p ordinary		Sale		525		2.1740 GBP
5p ordinary		Sale		584		2.1969 GBP
5p ordinary		Sale		609		2.1660 GBP
5p ordinary		Sale		980		2.1760 GBP
5p ordinary		Sale		1,128		2.1817 GBP
5p ordinary		Sale		1,288		2.1721 GBP
5p ordinary		Sale		1,673		2.1920 GBP
5p ordinary		Sale		1,676		2.1940 GBP
5p ordinary		Sale		1,706		2.1621 GBP
5p ordinary		Sale		1,729		2.1715 GBP
5p ordinary		Sale		3,079		2.1754 GBP
5p ordinary		Sale		3,451		2.1945 GBP
5p ordinary		Sale		3,844		2.1919 GBP
5p ordinary		Sale		3,883		2.1834 GBP
5p ordinary		Sale		4,517		2.1886 GBP
5p ordinary		Sale		9,172		2.1980 GBP
5p ordinary		Sale		19,143		2.1880 GBP
5p ordinary		Sale		33,972		2.1888 GBP
5p ordinary		Sale		48,811		2.1620 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		1,485	2.1945 GBP
5p ordinary		SWAP		Long		2,000	2.1999 GBP
5p ordinary		SWAP		Long		3,079	2.1754 GBP
5p ordinary		SWAP		Long		3,341	2.1994 GBP
5p ordinary		CFD		Long		3,504	2.1771 GBP
5p ordinary		SWAP		Long		3,844	2.1919 GBP
5p ordinary		SWAP		Long		5,362	2.1957 GBP
5p ordinary		SWAP		Long		6,811	2.1696 GBP
5p ordinary		SWAP		Long		7,172	2.1975 GBP
5p ordinary		CFD		Long		7,911	2.1619 GBP
5p ordinary		SWAP		Long		18,095	2.1944 GBP
5p ordinary		SWAP		Short		1,083	2.1722 GBP
5p ordinary		SWAP		Short		1,568	2.1721 GBP
5p ordinary		SWAP		Short		2,079	2.1726 GBP
5p ordinary		SWAP		Short		3,815	2.1753 GBP
5p ordinary		SWAP		Short		7,117	2.1739 GBP
5p ordinary		CFD		Short		7,431	2.1621 GBP
5p ordinary		SWAP		Short		10,187	2.1620 GBP
5p ordinary		SWAP		Short		10,581	2.1818 GBP
5p ordinary		SWAP		Short		14,379	2.1723 GBP
5p ordinary		SWAP		Short		24,942	2.1652 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:				25 Nov 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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