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:				10 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:		495,206	0.08%	10,149,334	1.65%
(2)	Cash-settled derivatives:
			9,805,587	1.60%	245,639	0.04%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:		0	0.00%	0	0.00%
	TOTAL:		10,300,793	1.68%	10,394,973	1.69%

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		209		2.6020 GBP
5p ordinary		Purchase		223		2.5888 GBP
5p ordinary		Purchase		263		2.6200 GBP
5p ordinary		Purchase		394		2.5460 GBP
5p ordinary		Purchase		467		2.6024 GBP
5p ordinary		Purchase		565		2.6137 GBP
5p ordinary		Purchase		599		2.6060 GBP
5p ordinary		Purchase		638		2.5860 GBP
5p ordinary		Purchase		711		2.5732 GBP
5p ordinary		Purchase		786		2.5420 GBP
5p ordinary		Purchase		900		2.5380 GBP
5p ordinary		Purchase		979		2.5560 GBP
5p ordinary		Purchase		980		2.5540 GBP
5p ordinary		Purchase		1,177		2.5882 GBP
5p ordinary		Purchase		1,190		2.5980 GBP
5p ordinary		Purchase		1,367		2.6000 GBP
5p ordinary		Purchase		1,367		2.5999 GBP
5p ordinary		Purchase		1,857		2.5500 GBP
5p ordinary		Purchase		2,973		2.5775 GBP
5p ordinary		Purchase		3,355		2.5940 GBP
5p ordinary		Purchase		3,492		2.6029 GBP
5p ordinary		Purchase		3,625		2.5357 GBP
5p ordinary		Purchase		3,625		2.5360 GBP
5p ordinary		Purchase		5,415		2.5958 GBP
5p ordinary		Purchase		11,120		2.5559 GBP
5p ordinary		Purchase		11,490		2.5931 GBP
5p ordinary		Purchase		16,921		2.5597 GBP
5p ordinary		Purchase		21,811		2.5582 GBP
5p ordinary		Purchase		41,471		2.5640 GBP
5p ordinary		Purchase		48,446		2.5879 GBP
5p ordinary		Sale		1		2.5642 GBP
5p ordinary		Sale		8		2.5640 GBP
5p ordinary		Sale		585		2.6057 GBP
5p ordinary		Sale		599		2.6060 GBP
5p ordinary		Sale		638		2.5860 GBP
5p ordinary		Sale		786		2.5420 GBP
5p ordinary		Sale		979		2.5540 GBP
5p ordinary		Sale		988		2.5617 GBP
5p ordinary		Sale		1,094		2.5456 GBP
5p ordinary		Sale		1,149		2.5679 GBP
5p ordinary		Sale		1,190		2.5980 GBP
5p ordinary		Sale		1,346		2.5915 GBP
5p ordinary		Sale		1,405		2.5673 GBP
5p ordinary		Sale		1,519		2.5444 GBP
5p ordinary		Sale		2,007		2.5550 GBP
5p ordinary		Sale		2,142		2.5703 GBP
5p ordinary		Sale		2,214		2.5834 GBP
5p ordinary		Sale		2,304		2.5801 GBP
5p ordinary		Sale		2,353		2.5961 GBP
5p ordinary		Sale		2,477		2.5564 GBP
5p ordinary		Sale		2,783		2.5658 GBP
5p ordinary		Sale		3,459		2.5656 GBP
5p ordinary		Sale		3,519		2.5687 GBP
5p ordinary		Sale		3,625		2.5360 GBP
5p ordinary		Sale		4,087		2.6019 GBP
5p ordinary		Sale		4,571		2.6000 GBP
5p ordinary		Sale		6,664		2.6012 GBP
5p ordinary		Sale		6,706		2.5748 GBP
5p ordinary		Sale		7,732		2.5664 GBP
5p ordinary		Sale		8,456		2.5500 GBP
5p ordinary		Sale		9,052		2.5936 GBP
5p ordinary		Sale		9,244		2.5600 GBP
5p ordinary		Sale		9,490		2.5891 GBP
5p ordinary		Sale		12,270		2.5927 GBP
5p ordinary		Sale		23,192		2.5785 GBP
5p ordinary		Sale		28,015		2.5681 GBP
5p ordinary		Sale		39,291		2.6067 GBP
5p ordinary		Sale		42,014		2.5877 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		322	2.5861 GBP
5p ordinary		SWAP		Long		778	2.6000 GBP
5p ordinary		SWAP		Long		1,436	2.5744 GBP
5p ordinary		SWAP		Long		1,649	2.5910 GBP
5p ordinary		CFD		Long		3,147	2.5637 GBP
5p ordinary		SWAP		Long		4,325	2.5923 GBP
5p ordinary		SWAP		Long		5,421	2.5994 GBP
5p ordinary		SWAP		Long		5,473	2.5824 GBP
5p ordinary		SWAP		Long		7,581	2.6030 GBP
5p ordinary		SWAP		Long		17,218	2.5738 GBP
5p ordinary		CFD		Long		21,895	2.5780 GBP
5p ordinary		CFD		Long		22,943	2.5983 GBP
5p ordinary		SWAP		Short		197	2.5459 GBP
5p ordinary		CFD		Short		223	2.5888 GBP
5p ordinary		SWAP		Short		244	2.5839 GBP
5p ordinary		SWAP		Short		263	2.6200 GBP
5p ordinary		SWAP		Short		328	2.5518 GBP
5p ordinary		SWAP		Short		788	2.5829 GBP
5p ordinary		SWAP		Short		1,997	2.6169 GBP
5p ordinary		CFD		Short		2,865	2.5397 GBP
5p ordinary		SWAP		Short		7,037	2.5442 GBP
5p ordinary		SWAP		Short		9,192	2.5745 GBP
5p ordinary		SWAP		Short		9,638	2.5409 GBP
5p ordinary		SWAP		Short		9,884	2.5708 GBP
5p ordinary		SWAP		Short		13,397	2.5949 GBP
5p ordinary		SWAP		Short		15,262	2.5931 GBP
5p ordinary		SWAP		Short		15,566	2.5877 GBP
5p ordinary		SWAP		Short		20,275	2.5875 GBP
5p ordinary		SWAP		Short		30,887	2.5640 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 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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