National Express Group PLC Director/PDMR Shareholding (4269U)
April 06 2016 - 12:52PM
UK Regulatory
TIDMNEX
RNS Number : 4269U
National Express Group PLC
06 April 2016
6 April 2016
NATIONAL EXPRESS GROUP PLC (the 'Company')
Notification of Transactions by Directors/Persons Discharging
Managerial Responsibilities and Connected Persons
The Company was advised on 5 April 2016 of certain dealings in
the Company's share capital by European Express Enterprises Limited
('EEEL'), a company which is a connected person (as defined in
section 96(B)(2) of the Financial Services and Markets Act 2000) of
Jorge Cosmen, a Director of the Company.
The dealings relate to the unwinding of a call spread
transaction and a collar transaction, both of which were entered
into in May 2013.
On 1 April 2016, EEEL unwound a call spread entered into on 8
May 2013 with Credit Suisse AG in respect of 10,000,000 shares that
was due to terminate in seven equal tranches during a seven week
period commencing in May 2016 and ending in June 2016. The
aggregated margin of the options was GBP0.56 per share.
In addition, on 4 April 2016, EEEL unwound a collar transaction
entered into on 23 May 2013 (the 'Transaction') in respect of
10,000,000 shares that was due to terminate during a six calendar
month period commencing in May 2016 and ending in November 2016. As
a result of the Transaction, EEEL has been released from a share
pledge in favour of UBS in respect of 10,000,000 shares. Also as a
result, EEEL sold 9,623,170 shares at a price of 346.9 pence per
share.
The above transactions took place in London.
As a result, at close of business on 4 April 2016, Jorge Cosmen
has an interest in 69,237,515 shares amounting to 13.53% of the
issued ordinary share capital of the Company, EEEL has an interest
in 66,481,891 shares and Northern Enterprises Limited (another
connected person of Jorge Cosmen) has an interest in 2,755,624
shares.
Joy Baldry
Deputy Company Secretary
Enquiries:
Maitland
Rebecca Mitchell 07951 057351
This information is provided by RNS
The company news service from the London Stock Exchange
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