National Express Group PLC Director/PDMR Shareholding (1748P)

TIDMNEX

RNS Number : 1748P

National Express Group PLC

24 May 2018

National Express Group PLC

24 May 2018

NATIONAL EXPRESS GROUP PLC

("Company")

Notification of transactions by Persons Discharging Managerial Responsibilities ("PDMRs")

The Company provides notification of the following transactions effected on 23 May 2018 relating to Dean Finch, PDMR, and his respective interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).

The transactions arise from: (i) the vesting and exercise of a nil cost option over certain Shares pursuant to the 5-year performance conditioned award granted to him on 23 May 2013 under the terms of the Company's 2005 (as amended) Long-Term Incentive Plan ("LTIP"), and (ii) the immediate subsequent sale on the London Stock Exchange of the Shares acquired under (i) above. Full details of the award, the applicable performance conditions and the vesting levels are set out in the Directors Remuneration Report to the Company's 2017 Annual Report which is available on its website at www.nationalexpressgroup.com.

 
 Name and         Number           Number of         Number         Total beneficial    Total other 
  position         of Shares        Shares vesting    of acquired    interest            interest 
  of PDMR          over which       and acquired      Shares         held in             held in Shares 
                   original         on exercise       sold at        Shares following    following 
                   award granted    of nil cost       420.88p        transactions        transactions 
                                    option            per share 
---------------  ---------------  ----------------  -------------  ------------------  ---------------- 
 
   Dean Finch, 
   Group Chief 
   Executive        257,973          189,222(1)        189,222(2)     249,483(3)          1,342,102 
---------------  ---------------  ----------------  -------------  ------------------  ---------------- 
 

(1) All Shares delivered through the transfer of market purchased Shares from the Company's Employee Benefit Trust. No malus and clawback and no holding period restrictions apply to the vested Shares. All unvested Shares automatically lapse.

(2) Including Shares sold on a compulsory basis to cover the immediate personal tax and social security liability arising on vesting.

(3) Including Shares held by connected persons.

Including interests under the Company's LTIP and Executive Deferred Bonus Plan ("EDBP").

Post the above transactions, Mr Finch has a residual shareholding value (comprising his beneficially owned Shares and the forfeitable Shares in which he has an interest under the EDBP) which is greater than the 200% of salary value which he is required to attain by 2020 under the Company's share ownership guidelines.

The Company can confirm that Mr Finch has complied with his obligation under the EU Market Abuse Regulation to notify the Financial Conduct Authority in respect of the above transactions.

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National Express contact and telephone number for enquiries

Michael Arnaouti, Group Company Secretary: ++44 (0) 207 805 3807

Notes

Legal Entity Identifier: 213800A8IQEMY8PA5X34

Classification: 3.1 (with reference to DTR6 Annex 1R)

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May 24, 2018 10:30 ET (14:30 GMT)