TIDMNEX

RNS Number : 9607P

National Express Group PLC

11 June 2015

11 June 2015

NATIONAL EXPRESS GROUP PLC

Directors' Interests

National Express Group PLC Long-Term Incentive Plan 2015 - Initial Awards

National Express Group PLC (the 'Company') announces that on Thursday 11 June 2015 the following awards over the Company's ordinary 5 pence shares were made in the form of nil-cost options to the Executive Directors of the Company (the 'Awards').

The Awards have been made in accordance with the rules of the Company's Long- Term Incentive Plan 2015 (the 'Plan') which was approved at the Company's AGM held on 6 May 2015. The calculation of the number of options awarded is based on the middle market price on 10 June 2015 of GBP3.149 per share.

In addition, the Company has granted market value options under the Company share option plan section of the Plan ("CSOP Options") over the number of Shares set out below. The exercise price of each CSOP Option is GBP3.149 per share. The number of shares that is capable of exercise under each Award will be reduced by such number of shares as has a market value (at the date of exercise of the linked CSOP Option) equal to the gain made on the exercise of the CSOP Option. Overall, the participant's pre-tax economic gain from the Award is the same as if the CSOP Option was not in place.

Nil Cost Options

 
 Name of Executive Director    Number of Plan Shares 
 Dean Finch                           356,303 
                              ---------------------- 
 Matthew Ashley                       142,902 
                              ----------------------

CSOP Options

 
 Name of Executive Director    Number of Plan Shares 
         Dean Finch                    9,526 
                              ----------------------

The Awards will vest under normal circumstances, subject to the achievement of performance targets relating to EPS, ROCE and TSR (split equally between the FTSE 250 and a Bespoke Index) for the period which commenced on 1 January 2015 and will end on 31 December 2017. Each target relates to one third of an Award. There is no ability to retest any of the performance conditions.

Under the Plan rules, the Executive Directors are required to hold any Plan Shares arising from the vesting of their Awards for a period of two years; their Plan Shares are also subject to the malus and clawback provisions under the Plan rules.

National Express Group PLC was informed by the Executive Directors of the above transaction on 11 June 2015.

This notification is made in accordance with DTR 3.1.4R(1)(a).

Enquiries:

Sandra Forbes

Group General Counsel & Company Secretary

0207 805 3808

This information is provided by RNS

The company news service from the London Stock Exchange

END

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