Mobico Group PLC (formerly: National Express Group) — Director's Dealing 2023

Mar 17, 2023

National Storage Mechanism | Additional information

RNS Number : 4189T

National Express Group PLC

17 March 2023

NATIONAL EXPRESS GROUP PLC

(the "Company")

Director/PDMR Shareholding

The Company provides notification of the following transactions, all effected on 17 March 2023, relating to the below named PDMR and his interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).

The transactions arise in respect of:

i.    the vesting of 86,315 forfeitable Shares awarded to Ignacio Garat on 17 March 2022 under the rules of the Company's Executive Deferred Bonus Plan ("EDBP") in relation to the deferred element of his 2021 annual bonus; and

ii.     the immediate sale of a sufficient number of such Shares to cover tax, social security and dealing cost liabilities arising on that vest.

Individual PDMR details are set out in the table below:

Name and position of PDMR	Number of forfeitable Shares vested and sold as per above ¹ ² ³	Total unrestricted beneficial interest held in Shares following the transactions ⁴	Total other interest held in Shares following the transactions ⁵
Ignacio Garat, Chief Executive Officer	86,315 vested of which 40,651 were sold to cover tax and dealing costs	107,204	845,312

¹ The Shares sold comprise those compulsorily sold to cover the immediate income tax, social security and dealing cost liabilities arising on vesting of the 2022 EDBP award.

² All Shares delivered to the individual are existing Shares delivered through the Company's Employee Benefit Trust.

³ Malus and clawback will apply to the forfeitable Shares vested in the 2022 EDBP Award for two-years from the date of vest, including post termination of employment.

⁴ Including those held by the PDMR's connected persons.

⁵ Represents outstanding awards granted under the Company's EDBP and Long-Term Incentive Plan.

1.           

Details of PDMR / PCA

Full Name

Ignacio Garat

Position / status

Group Chief Executive Officer, PDMR

Initial notification / amendment

Initial notification

2.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

Name

National Express Group PLC

LEI

213800A8IQEMY8PA5X34

3.

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

Description of the financial instrument

Ordinary shares of 5p each

Identification code

GB0006215205

Nature of the transaction

1.   Vest of 2022 share award under the National Express Group PLC (the "Company") Executive Deferred Bonus Plan ("EDBP"); and

2.   Sale of sufficient shares from the 2022 share award under the Company's EDBP to cover tax, social security and dealing cost liabilities.

Price(s) and volume(s)

	Price(s)	Volume(s)	Total
1.	£ n/a	86,315	£0.00
2.	£1.200065	40,651	£48,783.84
Aggregated		126,966	£48,783.84

Date of the transaction

17 March 2023

Place of the transaction

(i) Off market

(ii) London Stock Exchange

The 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 contacts and telephone number for enquiries:

Simon Callander, Group General Counsel & Company Secretary

+44 (0) 7795 232 708

Gillian Saunderson, Deputy Company Secretary

+44 (0) 7506 642 348

Notes:

Legal Entity Identifier: 213800A8IQEMY8PA5X34

Classification: 3.1 (with reference to DTR6 Annex 1R)

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