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 24th March 2024, indicated that The Capital Group Companies, Inc. had acquired 12.99% of the voting rights in Dowlais Group PLC, representing 181,018,642 voting rights attached to shares. This is a decrease from the previous position of 13.91% of voting rights.
The Capital Group Companies, Inc. is the parent company of Capital Research and Management Company (CRMC) and Capital Bank & Trust Company (CB&T). CRMC serves as the investment manager to the American Funds family of mutual funds, other pooled investment vehicles, and individual and institutional clients. Additionally, CRMC and its investment manager affiliates manage equity assets for various investment companies through three divisions: Capital Research Global Investors, Capital International Investors, and Capital World Investors.
It is important to note that neither The Capital Group Companies, Inc. nor any of its affiliates own shares of Dowlais Group PLC for its own account. Instead, 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 provides a comprehensive overview of the structure and holdings of The Capital Group Companies, Inc., shedding light on its various investment management companies and their roles in serving institutional and high net worth clients. The notification also clarifies that the shares reported are owned by accounts under the discretionary investment management of the investment management companies, rather than being owned directly by The Capital Group Companies, Inc.