Bank of America Corporation has notified Drax Group PLC of an increase in its voting rights and financial instruments holdings. The notification, dated 26th April 2024, indicates that Bank of America Corporation now holds 12.811389% of voting rights in Drax Group PLC, up from the previous 12.241098%. This increase is attributed to the acquisition of financial instruments.
The details provided in the notification show that Bank of America Corporation holds 4.772174% of voting rights attached to shares and 8.039215% of voting rights through financial instruments. The total number of voting rights held in the issuer by Bank of America Corporation is 49,535,323.
The breakdown of the financial instruments holdings includes various types of swaps with expiration dates ranging from May 2024 to May 2026. These instruments contribute to Bank of America Corporation's total of 8.039215% of voting rights through financial instruments.
The notification also outlines 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, which in this case is Bank of America Corporation.
The increase in voting rights and financial instruments holdings by Bank of America Corporation in Drax Group PLC is a notable development that reflects the evolving ownership and control within the company. This notification provides transparency regarding significant changes in the ownership structure of Drax Group PLC.