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:				01 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:		1,573,399	0.26%	5,146,728	0.84%
(2)	Cash-settled derivatives:
			4,699,952	0.77%	1,369,754	0.22%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
(4)
	TOTAL:		6,273,351	1.02%	6,516,482	1.06%

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		21		2.3398 GBP
5p ordinary		Purchase		120		2.3560 GBP
5p ordinary		Purchase		1,062		2.3333 GBP
5p ordinary		Purchase		1,433		2.3252 GBP
5p ordinary		Purchase		2,994		2.3552 GBP
5p ordinary		Purchase		4,082		2.3375 GBP
5p ordinary		Purchase		5,120		2.3400 GBP
5p ordinary		Purchase		8,386		2.3525 GBP
5p ordinary		Purchase		11,966		2.3406 GBP
5p ordinary		Purchase		25,931		2.3425 GBP
5p ordinary		Purchase		27,934		2.3317 GBP
5p ordinary		Purchase		40,868		2.3355 GBP
5p ordinary		Sale		2		2.2959 GBP
5p ordinary		Sale		15		2.3004 GBP
5p ordinary		Sale		30		2.3470 GBP
5p ordinary		Sale		47		2.3210 GBP
5p ordinary		Sale		50		2.3370 GBP
5p ordinary		Sale		194		2.3359 GBP
5p ordinary		Sale		203		2.3399 GBP
5p ordinary		Sale		240		2.3560 GBP
5p ordinary		Sale		380		2.3445 GBP
5p ordinary		Sale		438		2.3436 GBP
5p ordinary		Sale		484		2.3297 GBP
5p ordinary		Sale		511		2.3040 GBP
5p ordinary		Sale		947		2.3494 GBP
5p ordinary		Sale		1,066		2.3450 GBP
5p ordinary		Sale		1,144		2.3424 GBP
5p ordinary		Sale		1,500		2.3380 GBP
5p ordinary		Sale		1,539		2.3406 GBP
5p ordinary		Sale		2,434		2.3507 GBP
5p ordinary		Sale		2,445		2.3430 GBP
5p ordinary		Sale		2,589		2.3509 GBP
5p ordinary		Sale		2,740		2.3339 GBP
5p ordinary		Sale		3,114		2.3552 GBP
5p ordinary		Sale		4,346		2.3409 GBP
5p ordinary		Sale		4,427		2.3291 GBP
5p ordinary		Sale		4,887		2.3460 GBP
5p ordinary		Sale		8,425		2.3442 GBP
5p ordinary		Sale		8,843		2.3525 GBP
5p ordinary		Sale		16,006		2.3382 GBP
5p ordinary		Sale		43,375		2.3381 GBP
5p ordinary		Sale		64,303		2.3400 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		2	2.2959 GBP
5p ordinary		SWAP		Long		4	2.3054 GBP
5p ordinary		SWAP		Long		11	2.2986 GBP
5p ordinary		SWAP		Long		47	2.3209 GBP
5p ordinary		SWAP		Long		50	2.3370 GBP
5p ordinary		SWAP		Long		60	2.3303 GBP
5p ordinary		SWAP		Long		147	2.3499 GBP
5p ordinary		SWAP		Long		194	2.3359 GBP
5p ordinary		SWAP		Long		203	2.3399 GBP
5p ordinary		SWAP		Long		225	2.3510 GBP
5p ordinary		SWAP		Long		424	2.3296 GBP
5p ordinary		SWAP		Long		800	2.3493 GBP
5p ordinary		SWAP		Long		2,209	2.3507 GBP
5p ordinary		CFD		Long		2,304	2.2951 GBP
5p ordinary		SWAP		Long		4,150	2.3477 GBP
5p ordinary		SWAP		Long		7,561	2.3422 GBP
5p ordinary		SWAP		Long		8,345	2.3436 GBP
5p ordinary		CFD		Long		13,110	2.3398 GBP
5p ordinary		CFD		Long		16,006	2.3382 GBP
5p ordinary		SWAP		Long		17,947	2.3354 GBP
5p ordinary		CFD		Long		63,973	2.3400 GBP
5p ordinary		SWAP		Short		1,725	2.3318 GBP
5p ordinary		SWAP		Short		2,357	2.3416 GBP
5p ordinary		SWAP		Short		4,320	2.3439 GBP
5p ordinary		CFD		Short		4,966	2.3400 GBP
5p ordinary		SWAP		Short		5,124	2.3400 GBP
5p ordinary		SWAP		Short		8,541	2.3369 GBP
5p ordinary		SWAP		Short		11,141	2.3344 GBP
5p ordinary		SWAP		Short		13,722	2.3388 GBP
5p ordinary		SWAP		Short		19,393	2.3294 GBP
5p ordinary		SWAP		Short		21,022	2.3333 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:				2 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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