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:				06 January 2022
(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:		587,357	0.10%	10,008,027	1.63%
(2)	Cash-settled derivatives:
			9,667,032	1.57%	245,112	0.04%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
(4)
	TOTAL:		10,254,389	1.67%	10,253,139	1.67%

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		126		2.5237 GBP
5p ordinary		Purchase		150		2.5384 GBP
5p ordinary		Purchase		609		2.5460 GBP
5p ordinary		Purchase		676		2.5354 GBP
5p ordinary		Purchase		838		2.5413 GBP
5p ordinary		Purchase		996		2.5398 GBP
5p ordinary		Purchase		1,431		2.5100 GBP
5p ordinary		Purchase		1,431		2.5099 GBP
5p ordinary		Purchase		1,682		2.5380 GBP
5p ordinary		Purchase		2,277		2.5358 GBP
5p ordinary		Purchase		2,557		2.5257 GBP
5p ordinary		Purchase		3,263		2.5351 GBP
5p ordinary		Purchase		4,051		2.5360 GBP
5p ordinary		Purchase		4,899		2.5367 GBP
5p ordinary		Purchase		7,065		2.5307 GBP
5p ordinary		Purchase		7,472		2.5443 GBP
5p ordinary		Purchase		9,322		2.5321 GBP
5p ordinary		Purchase		11,110		2.5255 GBP
5p ordinary		Purchase		11,348		2.5638 GBP
5p ordinary		Purchase		26,193		2.5379 GBP
5p ordinary		Purchase		32,093		2.5336 GBP
5p ordinary		Purchase		35,329		2.5532 GBP
5p ordinary		Purchase		75,258		2.5368 GBP
5p ordinary		Purchase		208,162		2.5395 GBP
5p ordinary		Purchase		267,706		2.5356 GBP
5p ordinary		Sale		149		2.5380 GBP
5p ordinary		Sale		198		2.5240 GBP
5p ordinary		Sale		474		2.5154 GBP
5p ordinary		Sale		578		2.5534 GBP
5p ordinary		Sale		606		2.5040 GBP
5p ordinary		Sale		626		2.4980 GBP
5p ordinary		Sale		724		2.5680 GBP
5p ordinary		Sale		1,243		2.5269 GBP
5p ordinary		Sale		1,277		2.5560 GBP
5p ordinary		Sale		1,287		2.5490 GBP
5p ordinary		Sale		1,431		2.5100 GBP
5p ordinary		Sale		1,666		2.5465 GBP
5p ordinary		Sale		1,695		2.5109 GBP
5p ordinary		Sale		1,785		2.5660 GBP
5p ordinary		Sale		2,274		2.5205 GBP
5p ordinary		Sale		2,503		2.5209 GBP
5p ordinary		Sale		2,595		2.5301 GBP
5p ordinary		Sale		2,891		2.5451 GBP
5p ordinary		Sale		3,633		2.5293 GBP
5p ordinary		Sale		4,457		2.5585 GBP
5p ordinary		Sale		5,523		2.5214 GBP
5p ordinary		Sale		5,833		2.5266 GBP
5p ordinary		Sale		6,093		2.5363 GBP
5p ordinary		Sale		6,750		2.5433 GBP
5p ordinary		Sale		6,818		2.5360 GBP
5p ordinary		Sale		8,944		2.5164 GBP
5p ordinary		Sale		11,880		2.5375 GBP
5p ordinary		Sale		12,779		2.5577 GBP
5p ordinary		Sale		15,984		2.5369 GBP
5p ordinary		Sale		23,268		2.5505 GBP
5p ordinary		Sale		29,008		2.5368 GBP
5p ordinary		Sale		31,791		2.5298 GBP
5p ordinary		Sale		53,671		2.5401 GBP
5p ordinary		Sale		71,473		2.5364 GBP
5p ordinary		Sale		258,142		2.5358 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		474	2.5154 GBP
5p ordinary		SWAP		Long		533	2.5459 GBP
5p ordinary		SWAP		Long		755	2.5360 GBP
5p ordinary		CFD		Long		2,274	2.5205 GBP
5p ordinary		SWAP		Long		2,358	2.5450 GBP
5p ordinary		CFD		Long		2,503	2.5209 GBP
5p ordinary		CFD		Long		3,074	2.5359 GBP
5p ordinary		CFD		Long		4,504	2.5373 GBP
5p ordinary		SWAP		Long		4,655	2.5528 GBP
5p ordinary		CFD		Long		5,523	2.5214 GBP
5p ordinary		CFD		Long		6,093	2.5363 GBP
5p ordinary		SWAP		Long		6,418	2.5380 GBP
5p ordinary		CFD		Long		8,944	2.5164 GBP
5p ordinary		SWAP		Long		11,329	2.5304 GBP
5p ordinary		SWAP		Long		15,167	2.5361 GBP
5p ordinary		CFD		Long		17,860	2.5357 GBP
5p ordinary		SWAP		Long		32,159	2.5318 GBP
5p ordinary		SWAP		Long		34,866	2.5344 GBP
5p ordinary		SWAP		Long		42,216	2.5330 GBP
5p ordinary		CFD		Short		812	2.5301 GBP
5p ordinary		CFD		Short		3,445	2.5360 GBP
5p ordinary		CFD		Short		9,322	2.5321 GBP
5p ordinary		SWAP		Short		13,967	2.5263 GBP
5p ordinary		SWAP		Short		18,126	2.5393 GBP
5p ordinary		CFD		Short		28,305	2.5343 GBP
5p ordinary		SWAP		Short		29,900	2.5345 GBP
5p ordinary		SWAP		Short		30,746	2.5326 GBP
5p ordinary		SWAP		Short		44,512	2.5397 GBP
5p ordinary		SWAP		Short		50,921	2.5373 GBP
5p ordinary		SWAP		Short		52,949	2.5449 GBP
5p ordinary		SWAP		Short		69,270	2.5375 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:				7 Jan 2022
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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