Form 8.3 - National Express Group 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:

09 March 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

(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:

1,630,388

0.27%

9,419,416

1.53%

(2)

Cash-settled derivatives:

9,072,166

1.48%

1,328,248

0.22%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

10,702,554

1.74%

10,747,664

1.75%

(b)

Rights to subscribe for new securities (including directors and other executive

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

(a)

Purchases and sales

Class of relevant

Purchase/sale

Number of

Price per unit

security

securities

5p ordinary

Purchase

6

2.1760 GBP

5p ordinary

Purchase

18

2.1120 GBP

5p ordinary

Purchase

98

2.3605 GBP

5p ordinary

Purchase

192

2.3800 GBP

5p ordinary

Purchase

425

2.3596 GBP

5p ordinary

Purchase

489

2.1270 GBP

5p ordinary

Purchase

493

2.1100 GBP

5p ordinary

Purchase

501

2.1070 GBP

5p ordinary

Purchase

526

2.0820 GBP

5p ordinary

Purchase

532

2.1290 GBP

5p ordinary

Purchase

977

2.1260 GBP

5p ordinary

Purchase

1,003

2.1186 GBP

5p ordinary

Purchase

1,028

2.1240 GBP

5p ordinary

Purchase

1,048

2.1280 GBP

5p ordinary

Purchase

1,197

2.3883 GBP

5p ordinary

Purchase

1,509

2.0903 GBP

5p ordinary

Purchase

1,850

2.2965 GBP

5p ordinary

Purchase

2,153

2.1331 GBP

5p ordinary

Purchase

2,587

2.3904 GBP

5p ordinary

Purchase

3,803

2.0951 GBP

5p ordinary

Purchase

4,210

2.3604 GBP

5p ordinary

Purchase

7,361

2.1504 GBP

5p ordinary

Purchase

7,695

2.1322 GBP

5p ordinary

Purchase

9,177

2.0728 GBP

5p ordinary

Purchase

9,441

2.1107 GBP

5p ordinary

Purchase

10,046

2.1356 GBP

5p ordinary

Purchase

14,170

2.2889 GBP

5p ordinary

Purchase

19,316

2.3017 GBP

5p ordinary

Purchase

22,153

2.1306 GBP

5p ordinary

Purchase

26,826

2.4178 GBP

5p ordinary

Purchase

26,967

2.1480 GBP

5p ordinary

Purchase

29,547

2.3808 GBP

5p ordinary

Purchase

29,761

2.1541 GBP

5p ordinary

Purchase

31,663

2.4000 GBP

5p ordinary

Purchase

39,429

2.3974 GBP

5p ordinary

Purchase

44,584

2.1335 GBP

5p ordinary

Purchase

45,100

2.3254 GBP

5p ordinary

Purchase

45,167

2.3882 GBP

5p ordinary

Purchase

45,893

2.1696 GBP

5p ordinary

Purchase

56,383

2.1875 GBP

5p ordinary

Purchase

65,474

2.4180 GBP

5p ordinary

Purchase

67,409

2.2352 GBP

5p ordinary

Purchase

68,654

2.1765 GBP

5p ordinary

Purchase

75,411

2.2890 GBP

5p ordinary

Purchase

87,355

2.3753 GBP

5p ordinary

Purchase

142,205

2.0769 GBP

5p ordinary

Purchase

303,158

2.2147 GBP

5p ordinary

Purchase

367,771

2.1220 GBP

5p ordinary

Purchase

455,798

2.3517 GBP

5p ordinary

Purchase

721,775

2.1752 GBP

5p ordinary

Sale

69

2.1309 GBP

5p ordinary

Sale

213

2.1140 GBP

5p ordinary

Sale

483

2.0800 GBP

5p ordinary

Sale

489

2.1270 GBP

5p ordinary

Sale

493

2.1100 GBP

5p ordinary

Sale

526

2.0820 GBP

5p ordinary

Sale

532

2.1290 GBP

5p ordinary

Sale

553

2.2755 GBP

5p ordinary

Sale

681

2.0270 GBP

5p ordinary

Sale

796

2.0795 GBP

5p ordinary

Sale

977

2.1260 GBP

5p ordinary

Sale

1,004

2.1220 GBP

5p ordinary

Sale

1,028

2.1240 GBP

5p ordinary

Sale

1,048

2.1280 GBP

5p ordinary

Sale

1,913

2.1208 GBP

5p ordinary

Sale

2,051

2.1050 GBP

5p ordinary

Sale

2,180

2.0968 GBP

5p ordinary

Sale

2,197

2.2282 GBP

5p ordinary

Sale

2,319

2.1133 GBP

5p ordinary

Sale

3,014

2.0816 GBP

5p ordinary

Sale

3,338

2.1067 GBP

5p ordinary

Sale

3,354

2.1083 GBP

5p ordinary

Sale

4,159

2.2005 GBP

5p ordinary

Sale

5,863

2.0841 GBP

5p ordinary

Sale

5,865

2.1007 GBP

5p ordinary

Sale

6,065

2.0836 GBP

5p ordinary

Sale

6,117

2.1045 GBP

5p ordinary

Sale

10,655

2.0926 GBP

5p ordinary

Sale

11,013

2.0866 GBP

5p ordinary

Sale

12,843

2.1331 GBP

5p ordinary

Sale

14,354

2.1908 GBP

5p ordinary

Sale

15,933

2.0941 GBP

5p ordinary

Sale

16,548

2.2462 GBP

5p ordinary

Sale

18,733

2.4040 GBP

5p ordinary

Sale

21,068

2.0753 GBP

5p ordinary

Sale

22,144

2.2250 GBP

5p ordinary

Sale

25,027

2.1051 GBP

5p ordinary

Sale

25,290

2.1807 GBP

5p ordinary

Sale

31,816

2.4120 GBP

5p ordinary

Sale

34,495

2.0775 GBP

5p ordinary

Sale

38,702

2.0804 GBP

5p ordinary

Sale

60,384

2.0995 GBP

5p ordinary

Sale

98,191

2.2555 GBP

5p ordinary

Sale

111,287

2.2896 GBP

5p ordinary

Sale

113,122

2.2942 GBP

5p ordinary

Sale

153,439

2.4180 GBP

5p ordinary

Sale

185,145

2.2853 GBP

5p ordinary

Sale

250,000

2.2664 GBP

5p ordinary

Sale

300,000

2.4018 GBP

5p ordinary

Sale

379,639

2.2373 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

507

2.0899 GBP

5p ordinary

 SWAP

Long

1,964

2.4092 GBP

5p ordinary

 CFD

Long

4,159

2.2005 GBP

5p ordinary

 CFD

Long

5,000

2.4177 GBP

5p ordinary

 SWAP

Long

18,579

2.2735 GBP

5p ordinary

 CFD

Long

30,247

2.4178 GBP

5p ordinary

 SWAP

Long

31,000

2.3024 GBP

5p ordinary

 CFD

Long

40,000

2.4037 GBP

5p ordinary

 SWAP

Long

60,473

2.3472 GBP

5p ordinary

 SWAP

Long

79,433

2.1620 GBP

5p ordinary

 SWAP

Long

96,227

2.2523 GBP

5p ordinary

 SWAP

Long

121,285

2.2900 GBP

5p ordinary

 SWAP

Long

126,389

2.1313 GBP

5p ordinary

 SWAP

Long

153,439

2.4180 GBP

5p ordinary

 SWAP

Long

166,566

2.2867 GBP

5p ordinary

 CFD

Short

1,509

2.0903 GBP

5p ordinary

 SWAP

Short

1,893

2.2024 GBP

5p ordinary

 SWAP

Short

2,670

2.1672 GBP

5p ordinary

 SWAP

Short

6,236

2.1928 GBP

5p ordinary

 SWAP

Short

6,669

2.2107 GBP

5p ordinary

 SWAP

Short

7,829

2.2322 GBP

5p ordinary

 SWAP

Short

9,441

2.1107 GBP

5p ordinary

 SWAP

Short

10,000

2.0902 GBP

5p ordinary

 SWAP

Short

10,133

2.1419 GBP

5p ordinary

 SWAP

Short

10,156

2.1268 GBP

5p ordinary

 SWAP

Short

11,745

2.1280 GBP

5p ordinary

 SWAP

Short

12,198

2.1630 GBP

5p ordinary

 SWAP

Short

14,578

2.1351 GBP

5p ordinary

 SWAP

Short

14,739

2.1729 GBP

5p ordinary

 SWAP

Short

27,662

2.1512 GBP

5p ordinary

 SWAP

Short

30,716

2.1826 GBP

5p ordinary

 SWAP

Short

42,884

2.1796 GBP

5p ordinary

 SWAP

Short

47,529

2.4180 GBP

5p ordinary

 SWAP

Short

75,105

2.4022 GBP

5p ordinary

 SWAP

Short

75,411

2.2890 GBP

5p ordinary

 CFD

Short

106,771

2.1173 GBP

5p ordinary

 SWAP

Short

113,848

2.1583 GBP

5p ordinary

 CFD

Short

182,013

2.1493 GBP

5p ordinary

 SWAP

Short

214,182

2.1358 GBP

5p ordinary

 SWAP

Short

432,317

2.2035 GBP

5p ordinary

 SWAP

Short

455,798

2.3516 GBP

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class

Product

Writing,

Number

Exercise

Type

Expiry

Option

of

description

purchasing,

of

price

date

money

relevant

selling,

securities

per unit

paid/

security

varying etc

to which

received

option

per unit

relates

(ii)

Exercising

Class of relevant

Product description

Exercising/ exercised against

Number of

Exercise price per

security

securities

unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant

Nature of Dealings

Details

Price per unit (if

security

applicable)

4.

OTHER INFORMATION

(a)

Indemnity and other dealings 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:

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 of future acquisition or disposal of any relevant securities to which

any derivative is referenced:

NONE

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:

10 Mar 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213