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:				25 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:		931,841	0.15%	6,820,092	1.11%
(2)	Cash-settled derivatives:
			6,479,668	1.06%	759,700	0.12%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
(4)
	TOTAL:		7,411,509	1.21%	7,579,792	1.23%

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		14		2.2897 GBP
5p ordinary		Purchase		35		2.1602 GBP
5p ordinary		Purchase		122		2.2910 GBP
5p ordinary		Purchase		320		2.1910 GBP
5p ordinary		Purchase		418		2.2520 GBP
5p ordinary		Purchase		567		2.2880 GBP
5p ordinary		Purchase		807		2.2292 GBP
5p ordinary		Purchase		825		2.2347 GBP
5p ordinary		Purchase		1,243		2.2840 GBP
5p ordinary		Purchase		1,245		2.2104 GBP
5p ordinary		Purchase		1,670		2.2302 GBP
5p ordinary		Purchase		1,723		2.2547 GBP
5p ordinary		Purchase		4,391		2.2464 GBP
5p ordinary		Purchase		4,396		2.1780 GBP
5p ordinary		Purchase		7,874		2.2660 GBP
5p ordinary		Purchase		17,159		2.1828 GBP
5p ordinary		Purchase		31,249		2.2626 GBP
5p ordinary		Sale		14		2.2900 GBP
5p ordinary		Sale		122		2.2910 GBP
5p ordinary		Sale		527		2.2820 GBP
5p ordinary		Sale		634		2.2860 GBP
5p ordinary		Sale		1,462		2.1937 GBP
5p ordinary		Sale		1,517		2.2661 GBP
5p ordinary		Sale		1,687		2.1840 GBP
5p ordinary		Sale		1,976		2.2423 GBP
5p ordinary		Sale		2,181		2.2687 GBP
5p ordinary		Sale		2,206		2.2505 GBP
5p ordinary		Sale		2,827		2.1782 GBP
5p ordinary		Sale		4,544		2.2775 GBP
5p ordinary		Sale		4,552		2.1850 GBP
5p ordinary		Sale		6,299		2.1780 GBP
5p ordinary		Sale		6,583		2.2779 GBP
5p ordinary		Sale		8,238		2.2730 GBP
5p ordinary		Sale		11,437		2.2254 GBP
5p ordinary		Sale		11,495		2.2485 GBP
5p ordinary		Sale		12,994		2.2807 GBP
5p ordinary		Sale		18,522		2.2043 GBP
5p ordinary		Sale		23,648		2.2678 GBP
5p ordinary		Sale		24,336		2.1925 GBP
5p ordinary		Sale		26,971		2.2671 GBP
5p ordinary		Sale		34,523		2.2258 GBP

(b) Cash-settled derivative transactions

Class of		Product		Nature of dealing		Number of	Price per
relevant		description				reference	unit
security						securities
5p ordinary		CFD		Long		13	2.2661 GBP
5p ordinary		SWAP		Long		233	2.2542 GBP
5p ordinary		SWAP		Long		835	2.2756 GBP
5p ordinary		CFD		Long		1,304	2.2777 GBP
5p ordinary		SWAP		Long		1,462	2.1937 GBP
5p ordinary		SWAP		Long		2,181	2.2687 GBP
5p ordinary		SWAP		Long		2,206	2.2505 GBP
5p ordinary		SWAP		Long		4,311	2.2787 GBP
5p ordinary		CFD		Long		6,583	2.2779 GBP
5p ordinary		SWAP		Long		7,403	2.2727 GBP
5p ordinary		SWAP		Long		10,216	2.1900 GBP
5p ordinary		SWAP		Long		10,471	2.2370 GBP
5p ordinary		CFD		Long		11,437	2.2254 GBP
5p ordinary		CFD		Long		11,495	2.2485 GBP
5p ordinary		CFD		Long		12,994	2.2807 GBP
5p ordinary		CFD		Long		13,777	2.1841 GBP
5p ordinary		SWAP		Long		18,369	2.2490 GBP
5p ordinary		SWAP		Long		23,241	2.1924 GBP
5p ordinary		CFD		Long		26,971	2.2671 GBP
5p ordinary		SWAP		Short		35	2.1602 GBP
5p ordinary		SWAP		Short		39	2.1892 GBP
5p ordinary		SWAP		Short		51	2.2520 GBP
5p ordinary		SWAP		Short		103	2.2296 GBP
5p ordinary		SWAP		Short		126	2.1805 GBP
5p ordinary		SWAP		Short		156	2.2105 GBP
5p ordinary		SWAP		Short		281	2.1912 GBP
5p ordinary		SWAP		Short		367	2.2521 GBP
5p ordinary		SWAP		Short		704	2.2291 GBP
5p ordinary		SWAP		Short		825	2.2347 GBP
5p ordinary		SWAP		Short		1,089	2.2104 GBP
5p ordinary		SWAP		Short		1,569	2.1782 GBP
5p ordinary		SWAP		Short		1,670	2.2302 GBP
5p ordinary		SWAP		Short		2,396	2.2200 GBP
5p ordinary		SWAP		Short		4,265	2.2483 GBP
5p ordinary		SWAP		Short		5,769	2.2659 GBP
5p ordinary		CFD		Short		6,370	2.2660 GBP
5p ordinary		SWAP		Short		13,169	2.2660 GBP
5p ordinary		SWAP		Short		13,448	2.2675 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:				26 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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