10 May 2023 07:00
10 May 2023
NATIONAL EXPRESS GROUP PLC
Change of Name
National Express Group PLC ("National Express" or "the Group"), a leading international transport provider, announces that it will change its name to "Mobico Group PLC" ("Mobico"), effective from early June 2023.
The Board of Directors believes that the Mobico name better reflects the Group's international nature and its diverse range of mobility services, as it continues to lead the modal shift to mass transit.
The Group's operating subsidiaries will retain their well-known customer-facing brands and National Express will still be used in connection with the Group's UK national coach network and certain other businesses. All significant brand names used across the Group's global operations including Alsa, WeDriveU, Peterman and Durham School Services will also be retained.
The new corporate name will not involve any operational or structural changes to the Group or any of its subsidiaries and will be implemented in a cost effective way.
A further announcement will be made in due course when the name change becomes effective at which point the Group will adopt a new stock ticker, "MCG". Until such an announcement is made, trading will continue under the existing "NEX" ticker.
Ignacio Garat, National Express Group Chief Executive, said: "Whilst National Express is a highly valued consumer brand, Mobico better represents our multi-modal operations, global reach and future ambitions. We remain focused on providing best-in-class services and delivering our Evolve strategy, with the intent of establishing Mobico Group as the world's premier shared mobility operator."
Enquiries
National Express Group PLC
John Dean, Investor Relations Director | 0121 803 2580 |
Headland
Stephen Malthouse | 07734 956201 |
Matt Denham | 07551 825496 |
About National Express
National Express is a leading, international shared mobility provider with bus, coach and rail services in the UK, North America, continental Europe, North Africa and the Middle East.
Notes to Editors
A Special Resolution was passed at the 2022 Annual General Meeting permitting the Board of Directors to change the Group's name. The Board has now decided to implement the change, which will be effective from early June 2023. A further announcement will be made when the process has been completed.
Legal Entity Identifier: 213800A8IQEMY8PA5X34