Bank of America Corporation has notified Drax Group PLC of a legal entity level crossing, resulting in a total of 9.273743% of voting rights held in the issuer. This notification, dated 26th June 2024, indicates a decrease from the previous position of 9.864202%. The details of the resulting situation on the date the threshold was crossed or reached show that Bank of America Corporation holds 0.192872% of voting rights attached to shares and 9.080871% of voting rights through financial instruments.
The breakdown of financial instruments held by Bank of America Corporation includes various physical swaps with expiration dates ranging from 2014 to 2027, each contributing to the total of 4.839569% of voting rights. Additionally, financial instruments with similar economic effects, such as swaps with cash settlement, amount to 4.241302% of voting rights.
The notification also provides information on the controlled undertakings through which the voting rights and/or financial instruments are effectively held, starting with Bank of America Corporation as the ultimate controlling person. The controlled undertakings include BofA Securities Europe, SA, Managed Account Advisors, LLC, Merrill Lynch International, and Bank of America, National Association, each holding varying percentages of voting rights.
This notification, submitted in accordance with the TR-1 standard form for notification of major holdings, offers insights into the changes in voting rights and financial instruments held by Bank of America Corporation in Drax Group PLC.