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:	24 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:		516,111	0.08%	10,881,607	1.77%
(2)	Cash-settled derivatives:
			10,407,114	1.69%	254,271	0.04%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
	TOTAL:		10,923,225	1.78%	11,135,878	1.81%

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	75	2.5974 GBP
5p ordinary	Purchase	156	2.6000 GBP
5p ordinary	Purchase	166	2.5960 GBP
5p ordinary	Purchase	193	2.5940 GBP
5p ordinary	Purchase	525	2.5937 GBP
5p ordinary	Purchase	527	2.6020 GBP
5p ordinary	Purchase	774	2.5934 GBP
5p ordinary	Purchase	1,157	2.5999 GBP
5p ordinary	Purchase	1,210	2.6018 GBP
5p ordinary	Purchase	1,283	2.5970 GBP
5p ordinary	Purchase	1,645	2.6212 GBP
5p ordinary	Purchase	2,628	2.5920 GBP
5p ordinary	Purchase	2,685	2.5900 GBP
5p ordinary	Purchase	3,800	2.5840 GBP
5p ordinary	Purchase	4,397	2.5861 GBP
5p ordinary	Purchase	5,512	2.5851 GBP
5p ordinary	Purchase	6,912	2.5862 GBP
5p ordinary	Purchase	7,100	2.5870 GBP
5p ordinary	Purchase	7,682	2.5848 GBP
5p ordinary	Purchase	7,872	2.5876 GBP
5p ordinary	Purchase	10,000	2.5730 GBP
5p ordinary	Purchase	10,005	2.5814 GBP
5p ordinary	Purchase	17,279	2.5925 GBP
5p ordinary	Purchase	28,188	2.5989 GBP
5p ordinary	Purchase	69,306	2.5946 GBP
5p ordinary	Purchase	118,025	2.5896 GBP
5p ordinary	Sale	2	2.5800 GBP
5p ordinary	Sale	20	2.5885 GBP
5p ordinary	Sale	34	2.5981 GBP
5p ordinary	Sale	98	2.5794 GBP
5p ordinary	Sale	150	2.5960 GBP
5p ordinary	Sale	156	2.6000 GBP
5p ordinary	Sale	341	2.6160 GBP
5p ordinary	Sale	448	2.5760 GBP
5p ordinary	Sale	456	2.6032 GBP
5p ordinary	Sale	571	2.5730 GBP
5p ordinary	Sale	579	2.6020 GBP
5p ordinary	Sale	582	2.5833 GBP
5p ordinary	Sale	610	2.6080 GBP
5p ordinary	Sale	694	2.5877 GBP
5p ordinary	Sale	843	2.5825 GBP
5p ordinary	Sale	964	2.5904 GBP
5p ordinary	Sale	1,280	2.5770 GBP
5p ordinary	Sale	1,324	2.5989 GBP
5p ordinary	Sale	1,980	2.5935 GBP
5p ordinary	Sale	2,162	2.5900 GBP
5p ordinary	Sale	2,622	2.5906 GBP
5p ordinary	Sale	3,782	2.5829 GBP
5p ordinary	Sale	3,800	2.5840 GBP
5p ordinary	Sale	4,325	2.5983 GBP
5p ordinary	Sale	6,909	2.5864 GBP
5p ordinary	Sale	6,931	2.5830 GBP
5p ordinary	Sale	9,168	2.5920 GBP
5p ordinary	Sale	9,429	2.5934 GBP
5p ordinary	Sale	15,964	2.5921 GBP
5p ordinary	Sale	16,808	2.5913 GBP
5p ordinary	Sale	24,830	2.5878 GBP
5p ordinary	Sale	30,600	2.5993 GBP
5p ordinary	Sale	88,135	2.5916 GBP
5p ordinary	Sale	195,150	2.5903 GBP
5p ordinary	Sale	266,665	2.5909 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	2	2.5819 GBP
5p ordinary	SWAP	Long	5	2.5899 GBP
5p ordinary	CFD	Long	20	2.5885 GBP
5p ordinary	SWAP	Long	34	2.5981 GBP
5p ordinary	SWAP	Long	415	2.5807 GBP
5p ordinary	SWAP	Long	456	2.6031 GBP
5p ordinary	SWAP	Long	555	2.5997 GBP
5p ordinary	SWAP	Long	843	2.5825 GBP
5p ordinary	SWAP	Long	2,950	2.5919 GBP
5p ordinary	SWAP	Long	3,895	2.5834 GBP
5p ordinary	SWAP	Long	4,562	2.5905 GBP
5p ordinary	CFD	Long	6,998	2.5754 GBP
5p ordinary	SWAP	Long	12,913	2.5937 GBP
5p ordinary	CFD	Long	15,101	2.5917 GBP
5p ordinary	SWAP	Long	26,558	2.5916 GBP
5p ordinary	SWAP	Long	28,834	2.5909 GBP
5p ordinary	SWAP	Long	45,236	2.5915 GBP
5p ordinary	SWAP	Long	56,644	2.5920 GBP
5p ordinary	SWAP	Long	83,209	2.5894 GBP
5p ordinary	SWAP	Long	99,688	2.5898 GBP
5p ordinary	SWAP	Long	136,476	2.5917 GBP
5p ordinary	CFD	Short	75	2.5973 GBP
5p ordinary	SWAP	Short	237	2.5824 GBP
5p ordinary	SWAP	Short	527	2.5880 GBP
5p ordinary	SWAP	Short	995	2.5861 GBP
5p ordinary	SWAP	Short	1,075	2.5986 GBP
5p ordinary	SWAP	Short	1,210	2.6018 GBP
5p ordinary	SWAP	Short	1,485	2.5920 GBP
5p ordinary	CFD	Short	14,944	2.5941 GBP
5p ordinary	SWAP	Short	17,261	2.5909 GBP
5p ordinary	SWAP	Short	18,071	2.5877 GBP
5p ordinary	SWAP	Short	41,779	2.5875 GBP
5p ordinary	SWAP	Short	42,808	2.5894 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:				25 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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