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RNS Number : 6269J
National Express Group PLC
29 June 2017
 

 

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

 

 

 


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