Bank of America Corporation has acquired a significant number of voting rights in Drax Group PLC. The acquisition took place on October 25, 2023, and the issuer was notified on October 26, 2023. The total positions of Bank of America Corporation in Drax Group PLC now amount to 11.901598% of voting rights.
The details of the resulting situation on the date the threshold was crossed or reached are as follows: Bank of America Corporation holds 3.676125% of direct voting rights through shares, which corresponds to 14,136,271 voting rights. In addition, Bank of America Corporation holds 8.225473% of voting rights through financial instruments, which corresponds to 10,098,297 voting rights.
The financial instruments held by Bank of America Corporation include rights to recall, physical swaps, and swaps with cash settlement. The expiration dates of these instruments range from March 1, 2024, to February 15, 2028. The total number of voting rights held through financial instruments is 21,532,159, which represents 5.599419% of voting rights.
Bank of America Corporation is the ultimate controlling person, and it holds voting rights and/or financial instruments through its controlled undertakings, including Bank of America, National Association, BofA Securities Europe, SA, Managed Account Advisors, LLC, and Merrill Lynch International. The total voting rights held by Bank of America Corporation and its controlled undertakings equal or exceed the notifiable threshold.
No information is provided regarding proxy voting. The completion date of the notification is October 26, 2023.