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:				11 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:		1,291,044	0.21%	5,601,422	0.91%
(2)	Cash-settled derivatives:
			5,213,197	0.85%	1,027,361	0.17%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
(4)
	TOTAL:		6,504,241	1.06%	6,628,783	1.08%

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		239		2.3548 GBP
5p ordinary		Purchase		309		2.3558 GBP
5p ordinary		Purchase		332		2.3637 GBP
5p ordinary		Purchase		457		2.3380 GBP
5p ordinary		Purchase		561		2.3562 GBP
5p ordinary		Purchase		649		2.3551 GBP
5p ordinary		Purchase		1,265		2.3290 GBP
5p ordinary		Purchase		2,026		2.3418 GBP
5p ordinary		Purchase		3,373		2.3300 GBP
5p ordinary		Purchase		3,985		2.3420 GBP
5p ordinary		Purchase		4,238		2.3531 GBP
5p ordinary		Purchase		4,475		2.3388 GBP
5p ordinary		Purchase		4,895		2.3439 GBP
5p ordinary		Purchase		5,289		2.3440 GBP
5p ordinary		Purchase		5,914		2.3560 GBP
5p ordinary		Purchase		7,998		2.3427 GBP
5p ordinary		Purchase		8,077		2.3579 GBP
5p ordinary		Purchase		12,934		2.3557 GBP
5p ordinary		Purchase		12,983		2.3467 GBP
5p ordinary		Purchase		13,037		2.3403 GBP
5p ordinary		Purchase		49,342		2.3480 GBP
5p ordinary		Purchase		75,025		2.3356 GBP
5p ordinary		Sale		36		2.3108 GBP
5p ordinary		Sale		68		2.3306 GBP
5p ordinary		Sale		229		2.3617 GBP
5p ordinary		Sale		475		2.3587 GBP
5p ordinary		Sale		523		2.3540 GBP
5p ordinary		Sale		640		2.3217 GBP
5p ordinary		Sale		647		2.3620 GBP
5p ordinary		Sale		818		2.3218 GBP
5p ordinary		Sale		1,250		2.3510 GBP
5p ordinary		Sale		1,811		2.3453 GBP
5p ordinary		Sale		2,056		2.3360 GBP
5p ordinary		Sale		2,088		2.3447 GBP
5p ordinary		Sale		2,120		2.3560 GBP
5p ordinary		Sale		2,135		2.3240 GBP
5p ordinary		Sale		2,479		2.3448 GBP
5p ordinary		Sale		3,412		2.3353 GBP
5p ordinary		Sale		3,985		2.3420 GBP
5p ordinary		Sale		4,475		2.3388 GBP
5p ordinary		Sale		5,297		2.3491 GBP
5p ordinary		Sale		5,303		2.3613 GBP
5p ordinary		Sale		6,217		2.3430 GBP
5p ordinary		Sale		6,393		2.3440 GBP
5p ordinary		Sale		7,364		2.3469 GBP
5p ordinary		Sale		7,786		2.3403 GBP
5p ordinary		Sale		8,575		2.3528 GBP
5p ordinary		Sale		10,285		2.3347 GBP
5p ordinary		Sale		10,673		2.3337 GBP
5p ordinary		Sale		11,676		2.3375 GBP
5p ordinary		Sale		11,965		2.3434 GBP
5p ordinary		Sale		13,607		2.3335 GBP
5p ordinary		Sale		99,708		2.3452 GBP
5p ordinary		Sale		100,589		2.3454 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		36	2.3108 GBP
5p ordinary		SWAP		Long		68	2.3306 GBP
5p ordinary		SWAP		Long		229	2.3616 GBP
5p ordinary		SWAP		Long		617	2.3114 GBP
5p ordinary		SWAP		Long		640	2.3217 GBP
5p ordinary		SWAP		Long		725	2.3104 GBP
5p ordinary		SWAP		Long		1,086	2.3687 GBP
5p ordinary		SWAP		Long		1,250	2.3510 GBP
5p ordinary		SWAP		Long		2,056	2.3360 GBP
5p ordinary		SWAP		Long		2,088	2.3447 GBP
5p ordinary		SWAP		Long		2,089	2.3593 GBP
5p ordinary		CFD		Long		2,510	2.3396 GBP
5p ordinary		SWAP		Long		6,586	2.3413 GBP
5p ordinary		SWAP		Long		7,786	2.3403 GBP
5p ordinary		SWAP		Long		7,958	2.3560 GBP
5p ordinary		SWAP		Long		11,235	2.3242 GBP
5p ordinary		SWAP		Long		16,755	2.3345 GBP
5p ordinary		SWAP		Long		32,943	2.3397 GBP
5p ordinary		CFD		Long		54,571	2.3574 GBP
5p ordinary		CFD		Short		146	2.3418 GBP
5p ordinary		SWAP		Short		400	2.3344 GBP
5p ordinary		SWAP		Short		518	2.3284 GBP
5p ordinary		SWAP		Short		855	2.3256 GBP
5p ordinary		SWAP		Short		1,358	2.3560 GBP
5p ordinary		SWAP		Short		3,720	2.3565 GBP
5p ordinary		CFD		Short		3,794	2.3559 GBP
5p ordinary		SWAP		Short		4,449	2.3364 GBP
5p ordinary		SWAP		Short		7,479	2.3413 GBP
5p ordinary		SWAP		Short		12,079	2.3578 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:				12 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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