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National Express (NEX)

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Tuesday 10 March, 2009

National Express

Director/PDMR Shareholding

RNS Number : 6383O
National Express Group PLC
10 March 2009


National Express Group PLC (the 'Company') announces that it today sold 156,312 of its ordinary shares of 5p each held as Treasury Shares to fund the purchase in the market of shares in the Company by IFG Trust (Jersey) Limited (the Company's employee benefit trust) in connection with certain deferred bonus awards made to the executive directors and other senior managers. The price at which the shares were sold was 178.875p. Following the sale of the shares the Company holds 1,668,688 ordinary shares of 5p each as Treasury Shares (the 'current treasury holding'). The number of ordinary shares comprised within the Company's current issued share capital less the number of ordinary shares comprised in the current treasury holding is 153,018,596 ordinary shares of 5p each.

Also on 10 March 2009 the following executive directors were awarded rights comprising forfeitable ordinary shares of 5 pence each under the National Express Group Executive Deferred Bonus Plan (the 'Plan') as summarised below:

Executive Director

Number of forfeitable shares comprised

 within the award

Richard Bowker


Jez Maiden


Ray O'Toole


Subject to the terms of the Plan, the risk of forfeiture attached to the shares comprised within the awards will be released on the first anniversary of the grant of the awards contingent on the relevant grantee's continued employment within the Company's group of companies until such time.

No consideration was paid for the grant of these awards and no consideration is due on the vesting on these awards.

National Express Group PLC was informed by the executive directors of the above transaction on 10 March 2009.

This notification is made in accordance with DR 3.1.4R(1)(a) and LR 12.6.4.

Name of contact and telephone number for queries: 

Tony McDonald, Company Secretary & Group Legal Director

For and on behalf of National Express Group PLC.

A J McDonald

Date: 10 March 2009

This information is provided by RNS
The company news service from the London Stock Exchange