Bank of America Corporation has notified Drax Group PLC of an increase in its voting rights in the company. The notification, dated January 10, 2024, reveals that Bank of America Corporation now holds 11.844199% of the voting rights in Drax Group PLC, up from the previous 12.245924%. This increase is attributed to the acquisition or disposal of financial instruments.

The details of the shareholder, Merrill Lynch International, a subsidiary of Bank of America Corporation, now holds 7.951666% of voting rights through financial instruments, up from the previous 8.392165%. The total number of voting rights held in the issuer is 45,560,464.

The breakdown of the resulting situation on the date the threshold was crossed or reached shows that Bank of America Corporation holds 3.892533% of direct voting rights and 2.331494% of voting rights through financial instruments. The financial instruments include physical swaps and swaps with similar economic effects, with varying expiration dates and cash settlement terms.

The notification also provides information on the full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, starting with the ultimate controlling natural person or legal entities. Bank of America Corporation's controlled undertakings, including Bank of America, National Association, BofA Securities Europe, SA, and Managed Account Advisors, LLC, are listed with their respective percentages of voting rights.

This notification provides insight into the changes in voting rights holdings by Bank of America Corporation and its subsidiaries in Drax Group PLC, offering transparency and clarity regarding the company's ownership structure and voting rights distribution.