Bank of America Corporation has notified Drax Group PLC that it now holds 12.24% of the voting rights in the company. This increase is due to the acquisition of both direct and indirect voting rights. The direct voting rights amount to 4.74%, while the indirect voting rights through financial instruments stand at 7.51%. The total number of voting rights held by Bank of America Corporation in Drax Group PLC is 47,330,283.
The details of the financial instruments held by Bank of America Corporation that contribute to the increase in voting rights include physical swaps with expiration dates ranging from May 2024 to May 2026. These financial instruments have a similar economic effect and contribute to 5.23% of the voting rights.
The holdings are attributed to Bank of America Corporation and its controlled undertakings, including BofA Securities Europe, SA, Managed Account Advisors, LLC, Merrill Lynch International, and Bank of America, National Association. The voting rights and financial instruments held by these entities have contributed to the increase in Bank of America Corporation's total voting rights in Drax Group PLC.
This notification was made on 24th April 2024, and it indicates a significant increase in the voting rights held by Bank of America Corporation in Drax Group PLC.