Bank of America Corporation has notified Drax Group PLC that it has acquired additional voting rights in the company. The notification states that Bank of America Corporation now holds a total of 11.901118% of the voting rights in Drax Group PLC. This is an increase from its previous position of 11.788270%. The acquisition of voting rights took place on October 18, 2023, and the notification was made on October 19, 2023.
The notification also provides details of the voting rights attached to shares held by Bank of America Corporation. It states that Bank of America Corporation holds 15,383,040 direct voting rights in Drax Group PLC, which represents 4.000346% of the total voting rights. In addition, Bank of America Corporation holds financial instruments that give it the right to acquire additional voting rights. These financial instruments include physical swaps and swaps with cash settlement, which together represent 2.309493% of the total voting rights.
The notification further reveals that Bank of America Corporation is the ultimate controlling person of several controlled undertakings that hold voting rights and financial instruments in Drax Group PLC. These controlled undertakings include Bank of America, National Association, BofA Securities Europe, SA, Managed Account Advisors, LLC, and Merrill Lynch International.
Overall, the notification indicates that Bank of America Corporation has increased its stake in Drax Group PLC and now holds a total of 11.901118% of the voting rights in the company.