11 May 2020 12:02
NATIONAL EXPRESS GROUP PLC
(the "Company")
Notification of transactions by a Persons Discharging Managerial Responsibilities ("PDMR")
The Company provides notification of the following transactions, all effected on the London Stock Exchange, relating to the two below named PDMRs and their respective interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).
Following the announcement by the Company of the placing of and subscription for 102,347,729 new Shares on 6 May 2020, the Company was informed today that the below-named PDMRs subscribed for the below number of new Shares at a price of 230 pence per Share.
Name and position of PDMR* | Number of Shares acquired | Beneficial interest held in Shares following the transaction¹ | Interest in Shares held under vested but unexercised share options following the transaction 2 | Total other interest held in Shares (including under unvested share options) following the transaction 3 |
Dean FinchGroup Chief Executive | 65,216 | 390,577 | 642,470 | 1,150,6944 |
Chris DaviesGroup Finance Director | 43,478 | 194,691 | 61,366 | 475,514 |
Sir John Armitt Chairman | 8,695 | 30,554 | - | - |
Jorge CosmenDeputy Chairman | 47,826 | 47,8265 | - | - |
Elliot Sander Independent Non-Executive Director | 6,521 | 7,521 | - | - |
Chris Muntwyler Independent Non-Executive Director | 21,739 | 21,739 | - | - |
Mike McKeon Independent Non-Executive Director | 10,869 | 20,869 | - | - |
Dr Ashley Steel Independent Non-Executive Director | 13,043 | 32,870 | - | - |
Karen Geary Independent Non-Executive Director | 4,347 | 14,347 | - | - |
Ana de Pro Gonzalo Independent Non-Executive Director | 4,347 | 4,347 | - | - |
1Including those held by connected persons.
2 Both Mr Finch and Mr Davies have interests in Shares under vested but unexercised Share options (including, in the case of Mr Finch, his 2017 LTIP Option) and the deemed net of tax number of these Shares, assuming exercise of the vested Share options and satisfaction of income tax at a rate of 45% and employee NICs of 2% on such exercise, in which Mr Finch and Mr Davies have beneficial interests, is 340,509 Shares and 32,524 Shares, respectively
3 Represents maximum interests in Shares held pursuant to outstanding awards granted to Mr Finch and Mr Davies under the Company's Executive Deferred Bonus Plan and Long-Term Incentive Plan.
4 Approved CSOP awards are made alongside nil cost options awards made under the Company's Long-Term Incentive Plan where HMRC limits permit. PDMRs' interests in Shares under such approved CSOP awards are not included in these interests but, on their vesting and valid exercise, will have the effect of reducing PDMRs' interests in the vested Shares held under their corresponding nil cost options.
5 Mr Cosmen also has an interest in the 73,767,515 shares held by European Express Enterprises Limited and Northern Enterprises Limited but Mr Cosmen is no longer sufficiently closely connected with such companies for such interest to be classified as a beneficial interest for these notification purposes.
This above notice is given in fulfilment of the Company's obligation under DTR 3.1 and Article 19 of the EU Market Abuse Regulation 596/2014.
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National Express contact and telephone number for enquiries:
Jennifer Myram, Company Secretary
+44 (0) 207 805 3807
Melanie Travis, Deputy Company Secretary
+44 (0) 207 805 3805
Notes:
Legal Entity Identifier: 213800A8IQEMY8PA5X34Classification: 3.1 (with reference to DTR6 Annex 1R)