http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20091030:Rnsd6387B
RNS Number : 6387B  
  
European Express Enterprises Ltd  
  
30 October 2009  
  
Statement from the Cosmen family regarding National Express Group PLC  
  
30 October 2009  
  
Following the announcement on 29 October by National Express Group PLC (the 
"Company") that it had terminated all merger discussions with Stagecoach Group 
plc and intends to proceed with an equity fund-raising, the Cosmen family wishes 
to clarify its position.  
  
As the Company's largest shareholder for some time, we remain entirely focused 
on promoting the longer-term success of the Company in the interests of all its 
shareholders.    
  
The Company is facing short-term issues that need to be addressed but we have 
serious concerns about the absence of a well-defined strategy to address the 
Company's broader and longer-term issues. We are concerned that there has not 
been a sufficiently full and thorough assessment of all the available options to 
address the Company's short and longer-term challenges, and, in particular, of 
Stagecoach Group plc's merger proposal, an option that could have addressed the 
fundamental financial and strategic issues facing the Company.  
  
The board of the Company (the "Board") should ensure it makes its best efforts 
to evaluate all the Company's options with the benefit of independent advice. We 
are greatly concerned that the Board risks losing further value for all 
shareholders by not keeping the Company's options open and we would urge the 
Board to seek independent financial and legal advice to assist it in this review 
process.    
  
For the purposes of Rule 2.8 and other relevant provisions of The City Code on 
Takeovers and Mergers (the "Code"), we remain unable to announce an offer or 
possible offer or make or participate in an offer or possible offer for the 
Company within six months from 16 October 2009 other than: (i) with the 
agreement or recommendation of the Board of the Company; (ii) in the event that 
a third party announces a firm intention to make an offer for the Company; or 
(iii) in the event that the Company announces a "whitewash" proposal or a 
reverse takeover (in each case as defined in the Code).  
  
Further enquiries:  
  
Ondra Partners LLP  
  
Michael Tory/Mark Hutt  
  
Tel. 020 7618 8435  
  
Media enquiries:  
  
Brunswick Group  
  
Michael Harrison/Rurik Ingram  
  
Tel 020 7404 5959  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
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