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:				07 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:		502,870	0.08%	10,095,460	1.64%
(2)	Cash-settled derivatives:
			9,850,023	1.60%	244,220	0.04%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
(4)
	TOTAL:		10,352,893	1.69%	10,339,680	1.68%

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		59		2.5224 GBP
5p ordinary		Purchase		70		2.5190 GBP
5p ordinary		Purchase		258		2.5164 GBP
5p ordinary		Purchase		382		2.5100 GBP
5p ordinary		Purchase		649		2.5340 GBP
5p ordinary		Purchase		798		2.5290 GBP
5p ordinary		Purchase		957		2.5390 GBP
5p ordinary		Purchase		1,028		2.5123 GBP
5p ordinary		Purchase		1,634		2.5244 GBP
5p ordinary		Purchase		1,700		2.5019 GBP
5p ordinary		Purchase		3,995		2.5039 GBP
5p ordinary		Purchase		6,507		2.5103 GBP
5p ordinary		Purchase		12,014		2.5096 GBP
5p ordinary		Purchase		13,089		2.5380 GBP
5p ordinary		Purchase		13,363		2.5218 GBP
5p ordinary		Purchase		24,915		2.4910 GBP
5p ordinary		Purchase		44,754		2.5161 GBP
5p ordinary		Sale		102		2.5260 GBP
5p ordinary		Sale		382		2.5102 GBP
5p ordinary		Sale		561		2.5082 GBP
5p ordinary		Sale		572		2.5100 GBP
5p ordinary		Sale		1,163		2.5280 GBP
5p ordinary		Sale		1,213		2.4849 GBP
5p ordinary		Sale		1,496		2.5172 GBP
5p ordinary		Sale		1,641		2.5092 GBP
5p ordinary		Sale		1,661		2.5281 GBP
5p ordinary		Sale		1,855		2.5275 GBP
5p ordinary		Sale		1,865		2.4919 GBP
5p ordinary		Sale		2,356		2.5084 GBP
5p ordinary		Sale		3,529		2.4966 GBP
5p ordinary		Sale		3,687		2.4900 GBP
5p ordinary		Sale		3,857		2.5215 GBP
5p ordinary		Sale		3,860		2.5381 GBP
5p ordinary		Sale		4,602		2.5059 GBP
5p ordinary		Sale		4,725		2.5065 GBP
5p ordinary		Sale		12,877		2.5191 GBP
5p ordinary		Sale		26,759		2.5076 GBP
5p ordinary		Sale		40,500		2.5103 GBP
5p ordinary		Sale		178,829		2.5380 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		256	2.5005 GBP
5p ordinary		SWAP		Long		496	2.4979 GBP
5p ordinary		SWAP		Long		573	2.5258 GBP
5p ordinary		SWAP		Long		704	2.5180 GBP
5p ordinary		SWAP		Long		1,661	2.5281 GBP
5p ordinary		SWAP		Long		1,982	2.5378 GBP
5p ordinary		SWAP		Long		2,094	2.5379 GBP
5p ordinary		SWAP		Long		2,357	2.5084 GBP
5p ordinary		CFD		Long		2,567	2.5377 GBP
5p ordinary		SWAP		Long		2,788	2.5248 GBP
5p ordinary		CFD		Long		3,041	2.5208 GBP
5p ordinary		CFD		Long		3,289	2.5317 GBP
5p ordinary		CFD		Long		3,760	2.5102 GBP
5p ordinary		CFD		Long		4,287	2.5288 GBP
5p ordinary		SWAP		Long		9,846	2.5188 GBP
5p ordinary		SWAP		Long		12,190	2.5028 GBP
5p ordinary		SWAP		Long		20,963	2.5026 GBP
5p ordinary		CFD		Long		65,141	2.5380 GBP
5p ordinary		SWAP		Long		115,434	2.5380 GBP
5p ordinary		SWAP		Short		59	2.5224 GBP
5p ordinary		CFD		Short		70	2.5190 GBP
5p ordinary		SWAP		Short		71	2.5179 GBP
5p ordinary		SWAP		Short		258	2.5164 GBP
5p ordinary		SWAP		Short		291	2.5176 GBP
5p ordinary		SWAP		Short		932	2.5380 GBP
5p ordinary		SWAP		Short		4,618	2.5162 GBP
5p ordinary		CFD		Short		7,980	2.5388 GBP
5p ordinary		SWAP		Short		12,540	2.5134 GBP
5p ordinary		SWAP		Short		14,245	2.5106 GBP
5p ordinary		SWAP		Short		28,482	2.5087 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:				10 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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