National Express Group PLC Transactions by PCA in Relation to PDMR (6269J)

TIDMNEX

RNS Number : 6269J

National Express Group PLC

29 June 2017

NATIONAL EXPRESS GROUP PLC

("Company")

Notification of transaction by Person Closely Associated ("PCA") with

Persons Discharging Managerial Responsibilities ("PDMRs")

The Company has been notified by European Express Enterprises Limited ("EEEL"), a PCA with Jorge Cosmen, Deputy Chairman and PDMR, of the following transaction effected by EEEL which relates to the PDMR's interest in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares"):

 
 1     Details of the person closely associated 
----  ----------------------------------------------------------------------- 
 a)    Name                                 European Express Enterprises 
                                             Limited 
----  -----------------------------------  ---------------------------------- 
 2     Reason for the notification 
----  ----------------------------------------------------------------------- 
 a)    Position/status                      PCA with Jorge Cosmen, 
                                             Deputy Chairman and PDMR 
----  -----------------------------------  ---------------------------------- 
 b)    Initial notification/Amendment       Initial 
----  -----------------------------------  ---------------------------------- 
 3     Details of the issuer, emission allowance market 
        participant, auction platform, auctioneer or 
        auction monitor 
----  ----------------------------------------------------------------------- 
 a)    Name                                 National Express Group 
                                             PLC 
----  -----------------------------------  ---------------------------------- 
 b)    LEI                                  213800A8IQEMY8PA5X34 
----  -----------------------------------  ---------------------------------- 
 4     Details of the transaction(s): section to be 
        repeated for (i) each type of instrument; (ii) 
        each type of transaction; (iii) each date; and 
        (iv) each place where transactions have been 
        conducted 
----  ----------------------------------------------------------------------- 
 a)    Description of the financial         Ordinary shares of 5p 
        instrument, type of instrument:      each 
 
        Identification code: 
 
                                             GB0006215205 
----  -----------------------------------  ---------------------------------- 
 b)    Nature of the transaction            Collar transaction: purchase 
                                             of 10,000,000 put options 
                                             at strike price of GBP2.75 
                                             per share and sale of 
                                             10,000,000 call options 
                                             at a strike price of GBP5.01 
                                             per share. The options 
                                             expire in ten equal tranches 
                                             during a fourth month 
                                             period commencing in July 
                                             2022 and ending in November 
                                             2022. 
                                             European Express Enterprises 
                                             Limited will have the 
                                             option to cash or physically 
                                             settle. 
                                             Pursuant to the above 
                                             transaction, European 
                                             Express Enterprises Limited 
                                             has agreed that it will 
                                             before 27 July 2017 grant 
                                             security over 10,000,000 
                                             Ordinary Shares in National 
                                             Express 
                                             plc as security to the 
                                             counterparty. 
----  -----------------------------------  ---------------------------------- 
 c)     Price(s) and volume(s)               Price(s)              Volume(s) 
-----  ----------------------------------   --------------------  ----------- 
     Purchase of 
      put options: 
      strike price 
      of GBP2.75                                                   10,000,000 
    ------------------------------------------------------------  ----------- 
     Sale of call 
      options: strike 
      price of GBP5.01                                             10,000,000 
    ============================================================  =========== 
 d)           Aggregated information 
 
 
                *    Aggregated volume        Put options: 10,000,000 
                                              Call options: 10,000,000 
 
                                              Put options - strike price 
                                              of GBP2.75 Call options 
                                              - strike price of GBP5.01 
                *    Price 
-----  ----------------------------------  ---------------------------------- 
 e)     Date of the transaction             26 June 2017 
-----  ----------------------------------  ---------------------------------- 
 f)     Place of the transaction            London Stock Exchange 
                                             (XLON) 
-----  ----------------------------------  ---------------------------------- 
 
 

National Express contact and telephone number for enquiries:

Michael Arnaouti, Company Secretary

++44 (0) 207 805 3807

This information is provided by RNS

The company news service from the London Stock Exchange

END

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June 29, 2017 09:58 ET (13:58 GMT)