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:	30 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:	760,108	0.12%	7,120,391	1.16%
(2)	Cash-settled derivatives:
		6,829,796	1.11%	606,100	0.10%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:	0	0.00%	0	0.00%
	TOTAL:	7,589,904	1.24%	7,726,491	1.26%

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	28	2.1428 GBP
5p ordinary	Purchase	530	2.1300 GBP
5p ordinary	Purchase	832	2.1339 GBP
5p ordinary	Purchase	1,062	2.1420 GBP
5p ordinary	Purchase	1,133	2.1561 GBP
5p ordinary	Purchase	1,394	2.1640 GBP
5p ordinary	Purchase	1,841	2.1487 GBP
5p ordinary	Purchase	2,941	2.1560 GBP
5p ordinary	Purchase	2,941	2.1557 GBP
5p ordinary	Purchase	2,993	2.1369 GBP
5p ordinary	Purchase	3,129	2.1321 GBP
5p ordinary	Purchase	4,301	2.1467 GBP
5p ordinary	Purchase	5,714	2.1079 GBP
5p ordinary	Purchase	11,602	2.1588 GBP
5p ordinary	Purchase	63,667	2.1360 GBP
5p ordinary	Purchase	228,154	2.1332 GBP
5p ordinary	Sale	193	2.1462 GBP
5p ordinary	Sale	466	2.1529 GBP
5p ordinary	Sale	868	2.1564 GBP
5p ordinary	Sale	1,062	2.1423 GBP
5p ordinary	Sale	1,711	2.1435 GBP
5p ordinary	Sale	2,108	2.1460 GBP
5p ordinary	Sale	2,323	2.1501 GBP
5p ordinary	Sale	2,405	2.1412 GBP
5p ordinary	Sale	2,772	2.1444 GBP
5p ordinary	Sale	2,941	2.1560 GBP
5p ordinary	Sale	4,335	2.1585 GBP
5p ordinary	Sale	4,828	2.1426 GBP
5p ordinary	Sale	5,000	2.1520 GBP
5p ordinary	Sale	6,602	2.1640 GBP
5p ordinary	Sale	7,143	2.1427 GBP
5p ordinary	Sale	7,770	2.1395 GBP
5p ordinary	Sale	12,000	2.1401 GBP
5p ordinary	Sale	23,073	2.1361 GBP
5p ordinary	Sale	25,876	2.1387 GBP
5p ordinary	Sale	30,613	2.1499 GBP
5p ordinary	Sale	34,542	2.1434 GBP
5p ordinary	Sale	53,438	2.1360 GBP
5p ordinary	Sale	57,970	2.1405 GBP
5p ordinary	Sale	99,945	2.1373 GBP
5p ordinary	Sale	187,811	2.1358 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	193	2.1461 GBP
5p ordinary	CFD	Long	466	2.1529 GBP
5p ordinary	SWAP	Long	598	2.1299 GBP
5p ordinary	SWAP	Long	1,711	2.1435 GBP
5p ordinary	SWAP	Long	2,323	2.1501 GBP
5p ordinary	SWAP	Long	2,405	2.1412 GBP
5p ordinary	SWAP	Long	2,509	2.1363 GBP
5p ordinary	SWAP	Long	2,772	2.1444 GBP
5p ordinary	SWAP	Long	4,634	2.1461 GBP
5p ordinary	CFD	Long	4,828	2.1426 GBP
5p ordinary	CFD	Long	5,582	2.1666 GBP
5p ordinary	SWAP	Long	7,197	2.1400 GBP
5p ordinary	CFD	Long	14,654	2.1397 GBP
5p ordinary	CFD	Long	25,876	2.1387 GBP
5p ordinary	CFD	Long	27,758	2.1360 GBP
5p ordinary	SWAP	Long	30,568	2.1467 GBP
5p ordinary	CFD	Long	30,613	2.1499 GBP
5p ordinary	CFD	Long	34,542	2.1434 GBP
5p ordinary	SWAP	Long	49,721	2.1386 GBP
5p ordinary	SWAP	Long	50,224	2.1361 GBP
5p ordinary	CFD	Long	57,970	2.1405 GBP
5p ordinary	SWAP	Long	58,656	2.1319 GBP
5p ordinary	SWAP	Long	93,302	2.1332 GBP
5p ordinary	CFD	Short	28	2.1428 GBP
5p ordinary	SWAP	Short	177	2.1614 GBP
5p ordinary	SWAP	Short	711	2.1613 GBP
5p ordinary	SWAP	Short	909	2.0959 GBP
5p ordinary	SWAP	Short	1,622	2.0975 GBP
5p ordinary	SWAP	Short	2,220	2.1470 GBP
5p ordinary	SWAP	Short	4,092	2.1120 GBP
5p ordinary	CFD	Short	32,908	2.1360 GBP
5p ordinary	SWAP	Short	33,054	2.1335 GBP
5p ordinary	SWAP	Short	40,289	2.1360 GBP
5p ordinary	SWAP	Short	61,546	2.1277 GBP
5p ordinary	SWAP	Short	100,503	2.1357 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:				1 Dec 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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