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:				05 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:		1,533,301	0.25%	5,245,172	0.85%
(2)	Cash-settled derivatives:
			4,840,177	0.79%	1,293,132	0.21%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
	TOTAL:		6,373,478	1.04%	6,538,304	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		84		2.3990 GBP
5p ordinary		Purchase		108		2.4070 GBP
5p ordinary		Purchase		137		2.4300 GBP
5p ordinary		Purchase		237		2.4037 GBP
5p ordinary		Purchase		320		2.3760 GBP
5p ordinary		Purchase		378		2.4330 GBP
5p ordinary		Purchase		581		2.4299 GBP
5p ordinary		Purchase		1,040		2.3883 GBP
5p ordinary		Purchase		1,047		2.4380 GBP
5p ordinary		Purchase		1,135		2.3880 GBP
5p ordinary		Purchase		1,490		2.4020 GBP
5p ordinary		Purchase		3,416		2.3988 GBP
5p ordinary		Purchase		3,946		2.4000 GBP
5p ordinary		Purchase		8,712		2.4378 GBP
5p ordinary		Purchase		10,668		2.4270 GBP
5p ordinary		Purchase		11,163		2.3980 GBP
5p ordinary		Purchase		40,985		2.3914 GBP
5p ordinary		Purchase		48,401		2.4358 GBP
5p ordinary		Sale		517		2.3860 GBP
5p ordinary		Sale		596		2.4000 GBP
5p ordinary		Sale		684		2.4106 GBP
5p ordinary		Sale		892		2.3309 GBP
5p ordinary		Sale		2,130		2.3246 GBP
5p ordinary		Sale		3,148		2.3643 GBP
5p ordinary		Sale		4,189		2.4380 GBP
5p ordinary		Sale		4,718		2.3994 GBP
5p ordinary		Sale		5,218		2.3990 GBP
5p ordinary		Sale		5,475		2.3508 GBP
5p ordinary		Sale		7,186		2.3765 GBP
5p ordinary		Sale		7,988		2.3739 GBP
5p ordinary		Sale		8,009		2.4194 GBP
5p ordinary		Sale		8,132		2.3658 GBP
5p ordinary		Sale		8,710		2.4361 GBP
5p ordinary		Sale		10,282		2.4335 GBP
5p ordinary		Sale		16,692		2.4190 GBP
5p ordinary		Sale		25,272		2.4181 GBP
5p ordinary		Sale		29,126		2.4158 GBP
5p ordinary		Sale		42,996		2.4195 GBP
5p ordinary		Sale		186,918		2.4229 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		17	2.3211 GBP
5p ordinary		SWAP		Long		68	2.3287 GBP
5p ordinary		SWAP		Long		80	2.4000 GBP
5p ordinary		SWAP		Long		81	2.3646 GBP
5p ordinary		SWAP		Long		138	2.3243 GBP
5p ordinary		SWAP		Long		142	2.3501 GBP
5p ordinary		SWAP		Long		214	2.3736 GBP
5p ordinary		SWAP		Long		216	2.3652 GBP
5p ordinary		SWAP		Long		329	2.3502 GBP
5p ordinary		SWAP		Long		491	2.3655 GBP
5p ordinary		SWAP		Long		760	2.3237 GBP
5p ordinary		SWAP		Long		892	2.3309 GBP
5p ordinary		SWAP		Long		1,132	2.3640 GBP
5p ordinary		SWAP		Long		1,164	2.3250 GBP
5p ordinary		SWAP		Long		1,935	2.3645 GBP
5p ordinary		SWAP		Long		1,975	2.3503 GBP
5p ordinary		SWAP		Long		2,934	2.3656 GBP
5p ordinary		SWAP		Long		3,029	2.3512 GBP
5p ordinary		SWAP		Long		3,435	2.3737 GBP
5p ordinary		CFD		Long		4,177	2.4380 GBP
5p ordinary		SWAP		Long		4,339	2.3740 GBP
5p ordinary		SWAP		Long		4,491	2.3661 GBP
5p ordinary		SWAP		Long		5,134	2.3990 GBP
5p ordinary		SWAP		Long		7,186	2.3765 GBP
5p ordinary		SWAP		Long		9,500	2.3994 GBP
5p ordinary		SWAP		Long		9,757	2.4379 GBP
5p ordinary		SWAP		Long		10,430	2.4121 GBP
5p ordinary		SWAP		Long		14,842	2.4224 GBP
5p ordinary		SWAP		Long		16,199	2.4192 GBP
5p ordinary		SWAP		Long		17,040	2.4092 GBP
5p ordinary		SWAP		Long		27,580	2.4140 GBP
5p ordinary		SWAP		Long		45,741	2.4156 GBP
5p ordinary		SWAP		Long		57,446	2.4064 GBP
5p ordinary		CFD		Long		109,171	2.4371 GBP
5p ordinary		SWAP		Short		80	2.4000 GBP
5p ordinary		SWAP		Short		276	2.2939 GBP
5p ordinary		SWAP		Short		500	2.4127 GBP
5p ordinary		SWAP		Short		1,135	2.3880 GBP
5p ordinary		SWAP		Short		1,429	2.4379 GBP
5p ordinary		SWAP		Short		6,135	2.3950 GBP
5p ordinary		SWAP		Short		35,495	2.3896 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:				8 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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