National Express Group PLC Transactions by PCA in Relation to PDMR (6269J)
June 29 2017 - 9:58AM
UK Regulatory
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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