National Express Group plc

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:				08 October 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:		1,753,116	0.29%	4,846,522	0.79%
(2)	Cash-settled derivatives:
			4,415,001	0.72%	1,475,060	0.24%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
	TOTAL:		6,168,117	1.00%	6,321,582	1.03%

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		175		2.3022 GBP
5p ordinary		Purchase		239		2.3237 GBP
5p ordinary		Purchase		244		2.3040 GBP
5p ordinary		Purchase		512		2.3177 GBP
5p ordinary		Purchase		512		2.3057 GBP
5p ordinary		Purchase		1,558		2.3180 GBP
5p ordinary		Purchase		1,585		2.3127 GBP
5p ordinary		Purchase		2,370		2.3111 GBP
5p ordinary		Purchase		2,517		2.3087 GBP
5p ordinary		Purchase		2,814		2.3044 GBP
5p ordinary		Purchase		3,243		2.3223 GBP
5p ordinary		Purchase		4,006		2.3100 GBP
5p ordinary		Purchase		4,433		2.3118 GBP
5p ordinary		Purchase		4,512		2.3105 GBP
5p ordinary		Purchase		4,765		2.3052 GBP
5p ordinary		Purchase		5,752		2.3114 GBP
5p ordinary		Purchase		7,913		2.3216 GBP
5p ordinary		Purchase		12,496		2.3240 GBP
5p ordinary		Purchase		13,743		2.3104 GBP
5p ordinary		Purchase		26,062		2.3135 GBP
5p ordinary		Sale		14		2.3064 GBP
5p ordinary		Sale		89		2.3018 GBP
5p ordinary		Sale		119		2.3205 GBP
5p ordinary		Sale		203		2.3086 GBP
5p ordinary		Sale		647		2.3054 GBP
5p ordinary		Sale		1,104		2.3058 GBP
5p ordinary		Sale		1,112		2.3102 GBP
5p ordinary		Sale		1,257		2.3239 GBP
5p ordinary		Sale		1,558		2.3180 GBP
5p ordinary		Sale		3,429		2.3025 GBP
5p ordinary		Sale		3,638		2.3002 GBP
5p ordinary		Sale		3,991		2.3176 GBP
5p ordinary		Sale		4,006		2.3100 GBP
5p ordinary		Sale		5,339		2.3175 GBP
5p ordinary		Sale		6,028		2.3106 GBP
5p ordinary		Sale		7,266		2.3240 GBP
5p ordinary		Sale		7,913		2.3217 GBP
5p ordinary		Sale		10,316		2.3130 GBP
5p ordinary		Sale		70,189		2.3223 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		1	2.3039 GBP
5p ordinary		SWAP		Long		14	2.3066 GBP
5p ordinary		SWAP		Long		89	2.3018 GBP
5p ordinary		SWAP		Long		119	2.3206 GBP
5p ordinary		SWAP		Long		203	2.3086 GBP
5p ordinary		SWAP		Long		211	2.3019 GBP
5p ordinary		SWAP		Long		511	2.3100 GBP
5p ordinary		SWAP		Long		1,257	2.3239 GBP
5p ordinary		SWAP		Long		3,637	2.3002 GBP
5p ordinary		SWAP		Long		3,894	2.3114 GBP
5p ordinary		SWAP		Long		6,600	2.3057 GBP
5p ordinary		SWAP		Long		16,625	2.3225 GBP
5p ordinary		CFD		Long		21,678	2.3238 GBP
5p ordinary		CFD		Long		25,850	2.3232 GBP
5p ordinary		SWAP		Long		26,832	2.3133 GBP
5p ordinary		SWAP		Short		5	2.3018 GBP
5p ordinary		SWAP		Short		16	2.3021 GBP
5p ordinary		SWAP		Short		16	2.3062 GBP
5p ordinary		SWAP		Short		41	2.2980 GBP
5p ordinary		SWAP		Short		46	2.3113 GBP
5p ordinary		SWAP		Short		51	2.3019 GBP
5p ordinary		SWAP		Short		55	2.3058 GBP
5p ordinary		SWAP		Short		57	2.3110 GBP
5p ordinary		SWAP		Short		58	2.3043 GBP
5p ordinary		SWAP		Short		65	2.3101 GBP
5p ordinary		SWAP		Short		73	2.3129 GBP
5p ordinary		SWAP		Short		76	2.3108 GBP
5p ordinary		SWAP		Short		87	2.3016 GBP
5p ordinary		SWAP		Short		137	2.3131 GBP
5p ordinary		SWAP		Short		144	2.3088 GBP
5p ordinary		SWAP		Short		234	2.3085 GBP
5p ordinary		SWAP		Short		237	2.3109 GBP
5p ordinary		SWAP		Short		243	2.3099 GBP
5p ordinary		SWAP		Short		274	2.3123 GBP
5p ordinary		SWAP		Short		282	2.3050 GBP
5p ordinary		SWAP		Short		428	2.3124 GBP
5p ordinary		SWAP		Short		429	2.3119 GBP
5p ordinary		SWAP		Short		710	2.3045 GBP
5p ordinary		SWAP		Short		753	2.3106 GBP
5p ordinary		SWAP		Short		1,268	2.3122 GBP
5p ordinary		SWAP		Short		1,339	2.3115 GBP
5p ordinary		SWAP		Short		1,806	2.3114 GBP
5p ordinary		SWAP		Short		1,821	2.3084 GBP
5p ordinary		SWAP		Short		1,942	2.3116 GBP
5p ordinary		SWAP		Short		2,046	2.3044 GBP
5p ordinary		SWAP		Short		2,138	2.3117 GBP
5p ordinary		SWAP		Short		3,027	2.3075 GBP
5p ordinary		SWAP		Short		3,235	2.3048 GBP
5p ordinary		CFD		Short		3,385	2.3103 GBP
5p ordinary		SWAP		Short		3,711	2.3103 GBP
5p ordinary		SWAP		Short		4,057	2.3111 GBP
5p ordinary		CFD		Short		4,735	2.3240 GBP
5p ordinary		SWAP		Short		6,226	2.3120 GBP
5p ordinary		SWAP		Short		10,707	2.3240 GBP
5p ordinary		SWAP		Short		14,127	2.3102 GBP
5p ordinary		SWAP		Short		15,918	2.3151 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:				11 Oct 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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