FORM 8.3 - NATIONAL EXPRESS GROUP PLC

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LONDON, January 19, 2022--(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:

18 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:

520,802

0.08%

10,486,976

1.71%

(2)

Cash-settled derivatives:

10,028,904

1.63%

256,508

0.04%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

10,549,706

1.72%

10,743,484

1.75%

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

6

2.6100 GBP

5p ordinary

Purchase

115

2.6235 GBP

5p ordinary

Purchase

164

2.6060 GBP

5p ordinary

Purchase

342

2.6080 GBP

5p ordinary

Purchase

711

2.6321 GBP

5p ordinary

Purchase

1,057

2.6384 GBP

5p ordinary

Purchase

1,326

2.6190 GBP

5p ordinary

Purchase

2,951

2.6071 GBP

5p ordinary

Purchase

3,285

2.6288 GBP

5p ordinary

Purchase

4,516

2.6048 GBP

5p ordinary

Purchase

6,002

2.6257 GBP

5p ordinary

Purchase

11,704

2.6208 GBP

5p ordinary

Purchase

103,576

2.6245 GBP

5p ordinary

Purchase

110,590

2.6112 GBP

5p ordinary

Sale

52

2.6217 GBP

5p ordinary

Sale

61

2.6340 GBP

5p ordinary

Sale

523

2.6240 GBP

5p ordinary

Sale

570

2.6070 GBP

5p ordinary

Sale

582

2.6241 GBP

5p ordinary

Sale

601

2.6420 GBP

5p ordinary

Sale

1,239

2.6040 GBP

5p ordinary

Sale

1,381

2.6432 GBP

5p ordinary

Sale

1,411

2.6095 GBP

5p ordinary

Sale

1,494

2.6080 GBP

5p ordinary

Sale

1,516

2.6355 GBP

5p ordinary

Sale

2,072

2.6061 GBP

5p ordinary

Sale

2,242

2.6367 GBP

5p ordinary

Sale

2,459

2.6358 GBP

5p ordinary

Sale

2,795

2.6370 GBP

5p ordinary

Sale

3,036

2.6320 GBP

5p ordinary

Sale

4,332

2.6046 GBP

5p ordinary

Sale

5,443

2.6294 GBP

5p ordinary

Sale

5,637

2.6258 GBP

5p ordinary

Sale

23,624

2.6274 GBP

5p ordinary

Sale

30,165

2.6232 GBP

5p ordinary

Sale

35,912

2.6387 GBP

5p ordinary

Sale

58,724

2.6127 GBP

5p ordinary

Sale

118,022

2.6060 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

8

2.6037 GBP

5p ordinary

CFD

Long

52

2.6219 GBP

5p ordinary

CFD

Long

90

2.6038 GBP

5p ordinary

SWAP

Long

102

2.6339 GBP

5p ordinary

CFD

Long

582

2.6241 GBP

5p ordinary

SWAP

Long

977

2.6382 GBP

5p ordinary

CFD

Long

1,120

2.6294 GBP

5p ordinary

CFD

Long

1,141

2.6039 GBP

5p ordinary

CFD

Long

1,494

2.6080 GBP

5p ordinary

CFD

Long

1,516

2.6355 GBP

5p ordinary

SWAP

Long

2,429

2.6152 GBP

5p ordinary

SWAP

Long

3,167

2.6338 GBP

5p ordinary

SWAP

Long

3,346

2.6268 GBP

5p ordinary

SWAP

Long

3,438

2.6366 GBP

5p ordinary

SWAP

Long

3,775

2.6060 GBP

5p ordinary

SWAP

Long

4,667

2.6150 GBP

5p ordinary

SWAP

Long

8,908

2.6214 GBP

5p ordinary

SWAP

Long

11,278

2.6294 GBP

5p ordinary

CFD

Long

30,165

2.6232 GBP

5p ordinary

CFD

Long

82,199

2.6059 GBP

5p ordinary

SWAP

Short

48

2.6469 GBP

5p ordinary

CFD

Short

115

2.6236 GBP

5p ordinary

CFD

Short

164

2.6059 GBP

5p ordinary

SWAP

Short

355

2.6433 GBP

5p ordinary

SWAP

Short

356

2.6209 GBP

5p ordinary

SWAP

Short

605

2.6359 GBP

5p ordinary

SWAP

Short

1,009

2.6380 GBP

5p ordinary

SWAP

Short

7,525

2.6276 GBP

5p ordinary

SWAP

Short

7,699

2.6285 GBP

5p ordinary

CFD

Short

11,704

2.6208 GBP

5p ordinary

SWAP

Short

17,076

2.6175 GBP

5p ordinary

SWAP

Short

33,571

2.6129 GBP

5p ordinary

CFD

Short

54,727

2.6062 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:

19 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 +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/20220119005678/en/

Contacts

BARCLAYS PLC

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