Bank of America Corporation has notified Drax Group PLC of a change in its holdings. As of April 19, 2024, Bank of America Corporation holds 12.23% of voting rights in Drax Group PLC, with 4.70% through direct voting rights and 7.53% through financial instruments. The financial instruments include physical swaps and swaps with similar economic effects, with varying expiration dates and cash settlements. The total number of voting rights held by Bank of America Corporation in Drax Group PLC is 47,291,280.
The notification also includes details of the full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, starting with the ultimate controlling natural person or legal entities. Bank of America Corporation's controlled undertakings include BofA Securities Europe, SA, Managed Account Advisors, LLC, and Merrill Lynch International, among others.
The notification provides a comprehensive breakdown of the financial instruments held by Bank of America Corporation, including the expiration dates, cash settlements, and the percentage of voting rights associated with each type of swap. The notification was completed on April 22, 2024.
This notification provides transparency regarding the significant holdings and voting rights in Drax Group PLC held by Bank of America Corporation, offering insights into the company's ownership structure and the impact of financial instruments on voting rights.