Select Equity Group, L.P. Acquires Voting Rights in Dowlais Group PLC

Dowlais Group PLC has announced a notification of major holdings by Select Equity Group, L.P. The reason for the notification is an acquisition or disposal of voting rights. The details of the person subject to the notification obligation are as follows: Select Equity Group, L.P., with its registered office in the US. The shareholder details include The Bank of New York Mellon, HSBC BK PLC, State Street Bank and Trust Company, and Morgan Stanley & Co. Intl Plc. The threshold was crossed or reached on August 23, 2023, and the issuer was notified on August 24, 2023.

The total positions of the person subject to the notification obligation are as follows: 4.956000% of voting rights attached to shares and 0.000000% of voting rights through financial instruments, resulting in a total of 4.956000% of voting rights. The person subject to the notification obligation holds a total of 69,054,820 voting rights in the issuer. The resulting situation on the date the threshold was crossed or reached is compared to the position of the previous notification, which was 6.447000% of voting rights.

The details of the resulting situation on the date the threshold was crossed or reached include 69,054,820 direct voting rights and 4.956000% of direct voting rights. There are no financial instruments with similar economic effect. The information in relation to the person subject to the notification obligation includes the full chain of controlled undertakings, starting with the ultimate controlling natural person, George Loening. The ultimate controlling person holds 4.956000% of voting rights and is the ultimate controlling natural person of Select Equity Group, L.P.

In terms of proxy voting, there is no information provided regarding the name of the proxy holder, the number and percentage of voting rights held, or the date until which the voting rights will be held. Additional information states that George Loening is the ultimate controlling natural person of Select Equity Group, L.P., an investment manager with investment discretion over certain funds and managed accounts. The completion date of the notification is August 24, 2023, and the place of completion is not specified.