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:	19 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:		539,631	0.09%	10,446,363	1.70%
(2)	Cash-settled derivatives:
			9,956,199	1.62%	260,063	0.04%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
	TOTAL:		10,495,830	1.71%	10,706,426	1.74%

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	44	2.6900 GBP
5p ordinary	Purchase	120	2.6806 GBP
5p ordinary	Purchase	594	2.6397 GBP
5p ordinary	Purchase	687	2.6771 GBP
5p ordinary	Purchase	1,208	2.6618 GBP
5p ordinary	Purchase	1,388	2.6894 GBP
5p ordinary	Purchase	3,693	2.6779 GBP
5p ordinary	Purchase	5,278	2.6762 GBP
5p ordinary	Purchase	6,912	2.6807 GBP
5p ordinary	Purchase	8,000	2.6780 GBP
5p ordinary	Purchase	13,861	2.6844 GBP
5p ordinary	Purchase	27,348	2.6776 GBP
5p ordinary	Purchase	27,661	2.6907 GBP
5p ordinary	Purchase	119,592	2.6799 GBP
5p ordinary	Purchase	140,445	2.6680 GBP
5p ordinary	Purchase	182,897	2.6912 GBP
5p ordinary	Sale	46	2.6619 GBP
5p ordinary	Sale	71	2.6879 GBP
5p ordinary	Sale	111	2.6810 GBP
5p ordinary	Sale	148	2.6460 GBP
5p ordinary	Sale	151	2.6395 GBP
5p ordinary	Sale	165	2.6977 GBP
5p ordinary	Sale	238	2.6820 GBP
5p ordinary	Sale	368	2.6840 GBP
5p ordinary	Sale	454	2.6908 GBP
5p ordinary	Sale	950	2.6861 GBP
5p ordinary	Sale	995	2.6963 GBP
5p ordinary	Sale	1,127	2.6711 GBP
5p ordinary	Sale	1,158	2.6550 GBP
5p ordinary	Sale	1,277	2.6901 GBP
5p ordinary	Sale	1,683	2.6858 GBP
5p ordinary	Sale	1,740	2.6475 GBP
5p ordinary	Sale	2,048	2.6585 GBP
5p ordinary	Sale	2,180	2.6765 GBP
5p ordinary	Sale	2,286	2.6628 GBP
5p ordinary	Sale	2,434	2.6847 GBP
5p ordinary	Sale	8,306	2.6946 GBP
5p ordinary	Sale	9,398	2.6874 GBP
5p ordinary	Sale	17,656	2.6783 GBP
5p ordinary	Sale	24,446	2.6905 GBP
5p ordinary	Sale	25,568	2.6760 GBP
5p ordinary	Sale	38,569	2.6762 GBP
5p ordinary	Sale	38,624	2.6620 GBP
5p ordinary	Sale	43,907	2.6919 GBP
5p ordinary	Sale	46,489	2.6899 GBP
5p ordinary	Sale	83,418	2.6917 GBP
5p ordinary	Sale	124,275	2.6695 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	51	2.6460 GBP
5p ordinary	SWAP	Long	71	2.6879 GBP
5p ordinary	CFD	Long	97	2.6458 GBP
5p ordinary	SWAP	Long	165	2.6977 GBP
5p ordinary	SWAP	Long	227	2.6899 GBP
5p ordinary	SWAP	Long	454	2.6908 GBP
5p ordinary	SWAP	Long	950	2.6861 GBP
5p ordinary	SWAP	Long	995	2.6963 GBP
5p ordinary	SWAP	Long	1,050	2.6937 GBP
5p ordinary	SWAP	Long	1,127	2.6711 GBP
5p ordinary	CFD	Long	1,158	2.6550 GBP
5p ordinary	SWAP	Long	1,575	2.6924 GBP
5p ordinary	SWAP	Long	2,434	2.6847 GBP
5p ordinary	SWAP	Long	4,581	2.6678 GBP
5p ordinary	SWAP	Long	4,781	2.6728 GBP
5p ordinary	CFD	Long	5,969	2.6509 GBP
5p ordinary	SWAP	Long	6,996	2.6619 GBP
5p ordinary	SWAP	Long	11,253	2.6734 GBP
5p ordinary	SWAP	Long	12,980	2.6828 GBP
5p ordinary	SWAP	Long	13,260	2.6620 GBP
5p ordinary	SWAP	Long	27,316	2.6774 GBP
5p ordinary	SWAP	Long	32,758	2.6628 GBP
5p ordinary	SWAP	Long	35,736	2.6756 GBP
5p ordinary	SWAP	Long	48,831	2.6706 GBP
5p ordinary	SWAP	Short	36	2.5720 GBP
5p ordinary	SWAP	Short	44	2.6900 GBP
5p ordinary	CFD	Short	120	2.6806 GBP
5p ordinary	SWAP	Short	558	2.6440 GBP
5p ordinary	SWAP	Short	1,177	2.6503 GBP
5p ordinary	SWAP	Short	1,835	2.6849 GBP
5p ordinary	SWAP	Short	2,907	2.6716 GBP
5p ordinary	SWAP	Short	2,907	2.6829 GBP
5p ordinary	CFD	Short	3,607	2.6622 GBP
5p ordinary	SWAP	Short	5,324	2.6565 GBP
5p ordinary	SWAP	Short	30,502	2.6658 GBP
5p ordinary	SWAP	Short	46,928	2.6695 GBP
5p ordinary	SWAP	Short	75,538	2.6736 GBP
5p ordinary	CFD	Short	119,592	2.6799 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 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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