Bank of America Corporation has notified Drax Group PLC of an increase in its voting rights. The corporation now holds 10.984416% of voting rights in Drax Group PLC, up from the previous 10.925606%. This increase is attributed to both direct voting rights and voting rights through financial instruments. Bank of America Corporation's subsidiary, Merrill Lynch International, holds 4.069305% of direct voting rights and 6.915111% of voting rights through financial instruments.
The financial instruments held by Bank of America Corporation include various swaps with cash settlement, with a total of 6.915111% of voting rights. Additionally, the corporation's controlled undertakings, including BofA Securities Europe, SA and Managed Account Advisors, LLC, also contribute to the increase in voting rights.
The notification, dated 13th March 2024, indicates that Bank of America Corporation has crossed the threshold for notification of major holdings in Drax Group PLC. The corporation has provided detailed information about the acquisition of voting rights, including the breakdown of direct and indirect voting rights, as well as the financial instruments contributing to the total voting rights held.
This notification reflects a significant change in the voting rights held by Bank of America Corporation in Drax Group PLC, and it underscores the corporation's increased influence within the company.