Bank of America Corporation has acquired voting rights in Drax Group PLC. The acquisition took place on November 9, 2023, and Bank of America Corporation notified Drax Group PLC on November 10, 2023. The total positions of Bank of America Corporation in terms of voting rights are as follows: 3.827594% of voting rights attached to shares, 8.768224% of voting rights through financial instruments, and a total of 12.595818% of voting rights. Bank of America Corporation holds a total of 48,440,359 voting rights in Drax Group PLC.
The details of the resulting situation on the date the threshold was crossed or reached are as follows: Bank of America Corporation holds 14,719,968 direct voting rights, which represents 3.827594% of the total voting rights. In addition, Bank of America Corporation holds financial instruments that may result in the acquisition of 9,151,750 voting rights, representing 2.379705% of the total voting rights. These financial instruments include the right to recall and physical swaps.
Furthermore, Bank of America Corporation holds financial instruments with similar economic effect that may result in the acquisition of 24,568,641 voting rights, representing 6.388519% of the total voting rights. These financial instruments include swaps with various expiration dates and cash settlements.
Bank of America Corporation is the ultimate controlling person, and it holds voting rights and financial instruments through its controlled undertakings, including Bank of America, National Association, BofA Securities Europe, SA, Managed Account Advisors, LLC, and Merrill Lynch International.
No information is provided regarding proxy voting.
The notification was completed on November 10, 2023.