29 Jun 2017 14:58
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 instrument, type of instrument:
Identification code: | Ordinary shares of 5p each
GB0006215205 | |||
b) | Nature of the transaction | Collar transaction: purchase of 10,000,000 put options at strike price of £2.75 per share and sale of 10,000,000 call options at a strike price of £5.01 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 £2.75 | 10,000,000 | ||||
Sale of call options: strike price of £5.01 | 10,000,000 | ||||
d) | Aggregated information
- Aggregated volume
- Price |
Put options: 10,000,000 Call options: 10,000,000
Put options - strike price of £2.75 Call options - strike price of £5.01 | |||
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