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:				17 December 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:		452,516	0.07%	9,225,758	1.50%
(2)	Cash-settled derivatives:
			8,944,692	1.46%	250,063	0.04%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
(4)
	TOTAL:		9,397,208	1.53%	9,475,821	1.54%

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		20		2.4160 GBP
5p ordinary		Purchase		203		2.4740 GBP
5p ordinary		Purchase		340		2.4737 GBP
5p ordinary		Purchase		405		2.4769 GBP
5p ordinary		Purchase		554		2.4720 GBP
5p ordinary		Purchase		669		2.4836 GBP
5p ordinary		Purchase		840		2.4680 GBP
5p ordinary		Purchase		934		2.4852 GBP
5p ordinary		Purchase		2,378		2.4832 GBP
5p ordinary		Purchase		3,056		2.4882 GBP
5p ordinary		Purchase		3,539		2.4672 GBP
5p ordinary		Purchase		3,636		2.4682 GBP
5p ordinary		Purchase		3,739		2.4400 GBP
5p ordinary		Purchase		4,202		2.4745 GBP
5p ordinary		Purchase		7,734		2.4805 GBP
5p ordinary		Purchase		11,060		2.4868 GBP
5p ordinary		Purchase		18,501		2.4866 GBP
5p ordinary		Purchase		26,186		2.4914 GBP
5p ordinary		Purchase		85,349		2.4751 GBP
5p ordinary		Purchase		112,681		2.4688 GBP
5p ordinary		Purchase		128,413		2.4847 GBP
5p ordinary		Purchase		209,231		2.4920 GBP
5p ordinary		Sale		221		2.4261 GBP
5p ordinary		Sale		405		2.4860 GBP
5p ordinary		Sale		765		2.4872 GBP
5p ordinary		Sale		1,014		2.4361 GBP
5p ordinary		Sale		1,162		2.4741 GBP
5p ordinary		Sale		1,679		2.4921 GBP
5p ordinary		Sale		2,952		2.4812 GBP
5p ordinary		Sale		3,228		2.4859 GBP
5p ordinary		Sale		3,360		2.4773 GBP
5p ordinary		Sale		3,372		2.4775 GBP
5p ordinary		Sale		3,538		2.4858 GBP
5p ordinary		Sale		4,030		2.4903 GBP
5p ordinary		Sale		4,342		2.4588 GBP
5p ordinary		Sale		5,026		2.4635 GBP
5p ordinary		Sale		5,270		2.4841 GBP
5p ordinary		Sale		5,448		2.4945 GBP
5p ordinary		Sale		5,853		2.4913 GBP
5p ordinary		Sale		7,132		2.4958 GBP
5p ordinary		Sale		7,734		2.4808 GBP
5p ordinary		Sale		8,799		2.4745 GBP
5p ordinary		Sale		8,804		2.4920 GBP
5p ordinary		Sale		10,958		2.4576 GBP
5p ordinary		Sale		12,126		2.4438 GBP
5p ordinary		Sale		12,235		2.4272 GBP
5p ordinary		Sale		18,794		2.4787 GBP
5p ordinary		Sale		26,177		2.4805 GBP
5p ordinary		Sale		26,672		2.4893 GBP
5p ordinary		Sale		28,687		2.4681 GBP
5p ordinary		Sale		33,999		2.4622 GBP
5p ordinary		Sale		62,734		2.4828 GBP
5p ordinary		Sale		63,042		2.4608 GBP
5p ordinary		Sale		66,608		2.4900 GBP
5p ordinary		Sale		145,487		2.4637 GBP
5p ordinary		Sale		284,358		2.4756 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		3,372	2.4775 GBP
5p ordinary		SWAP		Long		8,222	2.4640 GBP
5p ordinary		SWAP		Long		12,688	2.4506 GBP
5p ordinary		SWAP		Long		12,781	2.4761 GBP
5p ordinary		SWAP		Long		17,584	2.4847 GBP
5p ordinary		CFD		Long		18,794	2.4787 GBP
5p ordinary		SWAP		Long		21,311	2.4691 GBP
5p ordinary		CFD		Long		24,215	2.4893 GBP
5p ordinary		SWAP		Long		26,595	2.4511 GBP
5p ordinary		SWAP		Long		31,625	2.4735 GBP
5p ordinary		SWAP		Long		39,082	2.4687 GBP
5p ordinary		SWAP		Long		44,306	2.4649 GBP
5p ordinary		SWAP		Long		45,658	2.4710 GBP
5p ordinary		SWAP		Long		48,347	2.4643 GBP
5p ordinary		SWAP		Long		55,523	2.4568 GBP
5p ordinary		CFD		Long		67,330	2.4679 GBP
5p ordinary		SWAP		Long		69,291	2.4776 GBP
5p ordinary		CFD		Long		82,680	2.4773 GBP
5p ordinary		CFD		Short		934	2.4852 GBP
5p ordinary		CFD		Short		991	2.4919 GBP
5p ordinary		SWAP		Short		5,150	2.4545 GBP
5p ordinary		SWAP		Short		8,271	2.4877 GBP
5p ordinary		SWAP		Short		8,722	2.4903 GBP
5p ordinary		SWAP		Short		10,230	2.4857 GBP
5p ordinary		SWAP		Short		10,745	2.4918 GBP
5p ordinary		CFD		Short		16,988	2.4352 GBP
5p ordinary		SWAP		Short		17,084	2.4865 GBP
5p ordinary		SWAP		Short		90,953	2.4720 GBP
5p ordinary		SWAP		Short		206,690	2.4920 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:				20 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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