Form 8.3 - NATIONAL EXPRESS GROUP PLC

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LONDON, October 28, 2021--(BUSINESS WIRE)--

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:

27 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:

1,640,336

0.27%

5,089,969

0.83%

(2)

Cash-settled derivatives:

4,612,809

0.75%

1,408,969

0.23%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

6,253,145

1.02%

6,498,938

1.06%

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

30

2.2982 GBP

5p ordinary

Purchase

79

2.2977 GBP

5p ordinary

Purchase

114

2.3152 GBP

5p ordinary

Purchase

391

2.3122 GBP

5p ordinary

Purchase

498

2.3060 GBP

5p ordinary

Purchase

516

2.3057 GBP

5p ordinary

Purchase

529

2.3140 GBP

5p ordinary

Purchase

909

2.3054 GBP

5p ordinary

Purchase

1,032

2.3137 GBP

5p ordinary

Purchase

1,049

2.3080 GBP

5p ordinary

Purchase

1,452

2.3111 GBP

5p ordinary

Purchase

3,080

2.3070 GBP

5p ordinary

Purchase

3,682

2.3051 GBP

5p ordinary

Purchase

3,775

2.3120 GBP

5p ordinary

Purchase

4,109

2.3113 GBP

5p ordinary

Purchase

4,552

2.3031 GBP

5p ordinary

Purchase

5,917

2.3044 GBP

5p ordinary

Purchase

9,180

2.2958 GBP

5p ordinary

Purchase

10,240

2.3052 GBP

5p ordinary

Purchase

12,006

2.3030 GBP

5p ordinary

Purchase

12,986

2.2960 GBP

5p ordinary

Purchase

13,563

2.3010 GBP

5p ordinary

Purchase

14,229

2.3100 GBP

5p ordinary

Purchase

20,494

2.3027 GBP

5p ordinary

Purchase

36,919

2.3220 GBP

5p ordinary

Purchase

41,530

2.3099 GBP

5p ordinary

Sale

52

2.3009 GBP

5p ordinary

Sale

318

2.3137 GBP

5p ordinary

Sale

394

2.3160 GBP

5p ordinary

Sale

516

2.3000 GBP

5p ordinary

Sale

516

2.3100 GBP

5p ordinary

Sale

791

2.3078 GBP

5p ordinary

Sale

1,032

2.3050 GBP

5p ordinary

Sale

1,677

2.3140 GBP

5p ordinary

Sale

1,718

2.3060 GBP

5p ordinary

Sale

2,082

2.3087 GBP

5p ordinary

Sale

2,366

2.3071 GBP

5p ordinary

Sale

2,530

2.3044 GBP

5p ordinary

Sale

2,718

2.3049 GBP

5p ordinary

Sale

2,832

2.3132 GBP

5p ordinary

Sale

2,903

2.3020 GBP

5p ordinary

Sale

3,152

2.3095 GBP

5p ordinary

Sale

4,007

2.3063 GBP

5p ordinary

Sale

4,451

2.3038 GBP

5p ordinary

Sale

5,064

2.3021 GBP

5p ordinary

Sale

6,752

2.3068 GBP

5p ordinary

Sale

6,757

2.3220 GBP

5p ordinary

Sale

7,256

2.3075 GBP

5p ordinary

Sale

7,591

2.2998 GBP

5p ordinary

Sale

10,433

2.2967 GBP

5p ordinary

Sale

10,654

2.3030 GBP

5p ordinary

Sale

33,640

2.3051 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

394

2.3160 GBP

5p ordinary

SWAP

Long

791

2.3078 GBP

5p ordinary

SWAP

Long

843

2.3131 GBP

5p ordinary

SWAP

Long

1,989

2.3132 GBP

5p ordinary

SWAP

Long

2,082

2.3087 GBP

5p ordinary

SWAP

Long

2,530

2.3044 GBP

5p ordinary

SWAP

Long

2,545

2.3005 GBP

5p ordinary

SWAP

Long

4,007

2.3063 GBP

5p ordinary

CFD

Long

6,757

2.3219 GBP

5p ordinary

SWAP

Long

7,227

2.3099 GBP

5p ordinary

CFD

Long

7,591

2.2998 GBP

5p ordinary

CFD

Long

10,409

2.3022 GBP

5p ordinary

SWAP

Long

10,654

2.3030 GBP

5p ordinary

SWAP

Long

10,985

2.3094 GBP

5p ordinary

SWAP

Long

18,365

2.3042 GBP

5p ordinary

SWAP

Short

567

2.3101 GBP

5p ordinary

SWAP

Short

1,000

2.3120 GBP

5p ordinary

SWAP

Short

1,054

2.3128 GBP

5p ordinary

SWAP

Short

1,239

2.3078 GBP

5p ordinary

SWAP

Short

2,240

2.3000 GBP

5p ordinary

SWAP

Short

2,270

2.3010 GBP

5p ordinary

CFD

Short

2,778

2.2960 GBP

5p ordinary

SWAP

Short

3,767

2.3074 GBP

5p ordinary

SWAP

Short

3,968

2.2954 GBP

5p ordinary

SWAP

Short

4,060

2.2960 GBP

5p ordinary

SWAP

Short

5,817

2.3098 GBP

5p ordinary

SWAP

Short

12,006

2.3030 GBP

5p ordinary

CFD

Short

21,113

2.3056 GBP

5p ordinary

CFD

Short

36,919

2.3220 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:

28 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 +44 (0)20 7638 0129.

*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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005611/en/

Contacts

BARCLAYS PLC

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