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:				28 February 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:		1,126,643	0.18%	10,263,356	1.67%
(2)	Cash-settled derivatives:
			9,888,177	1.61%	664,039	0.11%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
(4)
	TOTAL:		11,014,820	1.79%	10,927,395	1.78%

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		187		2.3900 GBP
5p ordinary		Purchase		206		2.4260 GBP
5p ordinary		Purchase		259		2.3760 GBP
5p ordinary		Purchase		468		2.3800 GBP
5p ordinary		Purchase		1,155		2.3782 GBP
5p ordinary		Purchase		1,299		2.3840 GBP
5p ordinary		Purchase		2,235		2.3903 GBP
5p ordinary		Purchase		2,801		2.3842 GBP
5p ordinary		Purchase		3,753		2.3828 GBP
5p ordinary		Purchase		4,164		2.3910 GBP
5p ordinary		Purchase		9,644		2.3870 GBP
5p ordinary		Purchase		11,801		2.3831 GBP
5p ordinary		Purchase		26,288		2.3907 GBP
5p ordinary		Purchase		78,452		2.3927 GBP
5p ordinary		Purchase		282,201		2.3880 GBP
5p ordinary		Sale		58		2.3768 GBP
5p ordinary		Sale		131		2.3889 GBP
5p ordinary		Sale		315		2.3740 GBP
5p ordinary		Sale		356		2.3804 GBP
5p ordinary		Sale		4,268		2.3850 GBP
5p ordinary		Sale		8,185		2.3883 GBP
5p ordinary		Sale		20,972		2.3895 GBP
5p ordinary		Sale		96,470		2.3872 GBP
5p ordinary		Sale		163,835		2.3880 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		25	2.3768 GBP
5p ordinary		CFD		Long		33	2.3769 GBP
5p ordinary		SWAP		Long		41	2.4099 GBP
5p ordinary		CFD		Long		131	2.3889 GBP
5p ordinary		SWAP		Long		315	2.3765 GBP
5p ordinary		SWAP		Long		342	2.3778 GBP
5p ordinary		SWAP		Long		1,193	2.3745 GBP
5p ordinary		SWAP		Long		2,717	2.3755 GBP
5p ordinary		SWAP		Long		3,329	2.4123 GBP
5p ordinary		SWAP		Long		13,351	2.3858 GBP
5p ordinary		SWAP		Long		16,450	2.3860 GBP
5p ordinary		CFD		Long		17,233	2.3878 GBP
5p ordinary		SWAP		Long		21,263	2.3872 GBP
5p ordinary		SWAP		Long		22,192	2.3837 GBP
5p ordinary		SWAP		Long		32,140	2.3908 GBP
5p ordinary		SWAP		Short		7	2.3800 GBP
5p ordinary		SWAP		Short		36	2.3965 GBP
5p ordinary		SWAP		Short		1,201	2.3849 GBP
5p ordinary		SWAP		Short		1,570	2.3905 GBP
5p ordinary		SWAP		Short		1,600	2.3837 GBP
5p ordinary		SWAP		Short		1,810	2.3880 GBP
5p ordinary		SWAP		Short		2,784	2.3876 GBP
5p ordinary		SWAP		Short		3,243	2.3870 GBP
5p ordinary		SWAP		Short		3,785	2.4141 GBP
5p ordinary		CFD		Short		9,124	2.4001 GBP
5p ordinary		SWAP		Short		11,236	2.3897 GBP
5p ordinary		CFD		Short		11,792	2.3866 GBP
5p ordinary		SWAP		Short		20,107	2.3940 GBP
5p ordinary		SWAP		Short		20,714	2.3867 GBP
5p ordinary		SWAP		Short		28,425	2.3934 GBP
5p ordinary		CFD		Short		125,377	2.3879 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:				1 Mar 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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