Bank of America Corporation has notified Drax Group PLC of a legal entity level crossing, resulting in a total of 10.195868% of voting rights held in the issuer. This includes 4.118864% of voting rights attached to shares and 6.077004% of voting rights through financial instruments. The notification, dated 01-Mar-2024, reveals that the threshold was crossed on 29-Feb-2024.
The shareholder, Merrill Lynch International, a controlled undertaking of Bank of America Corporation, holds the voting rights. This includes direct voting rights of 4.118864% and indirect voting rights through financial instruments of 6.077004%. The financial instruments include various swaps with expiration dates and cash settlements, collectively amounting to 3.786066% of voting rights.
The notification also details the full chain of controlled undertakings through which the voting rights and financial instruments are effectively held, starting with Bank of America Corporation as the ultimate controlling entity. The controlled undertakings include Bank of America, National Association, BofA Securities Europe, SA, Managed Account Advisors, LLC, and Merrill Lynch International.
The notification does not include information about proxy voting. The completion date for the notification was 01-Mar-2024.