Dowlais Group PLC received a notification of major holdings from The Capital Group Companies, Inc., a U.S.-based investment management company. The notification, dated 10th April 2024, indicated that The Capital Group Companies, Inc. had acquired 8.43% of the voting rights in Dowlais Group PLC, with a total of 117,441,343 voting rights attached to shares. This acquisition represents a decrease from the previous position of 10.93% of voting rights.
The Capital Group Companies, Inc. is the parent company of Capital Research and Management Company, which serves as the investment manager to the American Funds family of mutual funds, other pooled investment vehicles, and individual and institutional clients. Additionally, it was noted that neither The Capital Group Companies, Inc. nor any of its affiliates own shares of Dowlais Group PLC for its own account. The shares reported in the notification are owned by accounts under the discretionary investment management of one or more of the investment management companies under The Capital Group Companies, Inc.
The notification also provided details about the structure of The Capital Group Companies, Inc., its affiliates, and the investment management companies under its umbrella, emphasizing their role in managing equity assets for various investment companies and serving institutional and high net worth clients.
This notification provides insight into the changes in major holdings within Dowlais Group PLC and the involvement of The Capital Group Companies, Inc. and its affiliates in the management of voting rights and financial instruments related to the company.