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National Express (NEX)

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Wednesday 19 May, 2010

National Express

Director/PDMR Shareholding

RNS Number : 2336M
National Express Group PLC
19 May 2010
 



NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS

1.      

Name of the Issuer:

 

NATIONAL EXPRESS GROUP PLC

2.      

State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance with LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act (2006):

DTR 3.1.2 R

3.      

Name of person discharging managerial responsibilities/director:

JORGE COSMEN

4.      

State whether notification relates to a person connected with a person discharging managerial responsibilities/ director named in 3 and identify the connected person:

YES:  EUROPEAN EXPRESS ENTERPRISES LIMITED ("EEEL")

5.      

Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest:

BENEFICIAL INTEREST: EEEL

6.      

Description of shares (including class), debentures or derivatives or financial instruments relating to shares:

ORDINARY SHARES OF 5 PENCE EACH

7.      

Name of registered shareholders(s):

NOMINEES ON BEHALF OF EEEL

 

8.      

State the nature of the transaction:

THE TRANSACTION COMPRISES:

(a)       A PURCHASE OF A CALL OPTION FROM BNP PARIBAS S.A. BY EEEL AT A STRIKE PRICE OF 263.0 PENCE IN RESPECT OF 5,500,000 ORDINARY SHARES EXPIRING IN SIX EQUAL INCREMENTS  DURING A SIX CALENDAR MONTH PERIOD BETWEEN MAY 2013 AND NOVEMBER 2013; AND

(b)       A SALE OF A CALL OPTION BY EEEL TO BNP PARIBAS S.A. AT A STRIKE PRICE OF 334.7 PENCE IN RESPECT OF 5,500,000 ORDINARY SHARES EXPIRING IN SIX EQUAL INCREMENTS  DURING A SIX CALENDAR MONTH PERIOD BETWEEN MAY 2013 AND NOVEMBER 2013

9.      

Number of shares, debentures or financial instruments relating to shares which could be acquired by EEEL pursuant to the transaction at 8 above:

5,500,000 ORDINARY SHARES

10.    

Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage):

THE TRANSACTION RELATES TO 5,500,000 ORDINARY SHARES REPRESENTING 1.078 PER CENT OF ALL ORDINARY SHARES

11.    

Number of shares, debentures or financial instruments relating to shares which could be disposed by EEEL pursuant to the transaction at 8 above:

5,500,000 ORDINARY SHARES

12.    

Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage):

SEE 10 ABOVE

13.    

Price per share or value of transaction:

SEE 8 ABOVE

14.    

Date and place of transaction:

LONDON, 18 MAY 2010

15.    

Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage):

86,105,062 ORDINARY SHARES REPRESENTING 16.881 PER CENT OF ALL ORDINARY SHARES

16.    

Date issuer informed of transaction:

18 MAY 2010

 

Name and telephone number for queries: Tony McDonald, 020 7506 4325

For and on behalf of National Express Group PLC

Date of this notification: 19 May 2010

 


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