Bank of America Corporation has notified Drax Group PLC of an increase in its voting rights in the company. The notification, dated 15th January 2024, indicates that Bank of America Corporation now holds 12.492251% of the voting rights in Drax Group PLC, up from the previous 12.077043%. This increase is attributed to the acquisition of financial instruments.
The details provided in the notification show that Bank of America Corporation holds 4.154110% of voting rights attached to shares and 8.338141% of voting rights through financial instruments. The total number of voting rights held in the issuer by Bank of America Corporation is 48,053,307.
The breakdown of the financial instruments held by Bank of America Corporation includes various swaps with expiration dates and cash settlements, totaling 6.034143% of voting rights. Additionally, the notification outlines the controlled undertakings through which the voting rights and financial instruments are effectively held, with Bank of America Corporation's subsidiaries holding varying percentages of voting rights.
The completion date of the notification was 15th January 2024. This notification provides insight into the changes in major holdings within Drax Group PLC and reflects the ongoing dynamics of the company's shareholder landscape.