Drax Group PLC received a notification from Bank of America Corporation regarding a major holdings update. The notification, dated 15th February 2024, states that Bank of America Corporation, through its various subsidiaries, now holds 10.534558% of the voting rights in Drax Group PLC, representing a decrease from the previous 10.533158%. This change was triggered by an acquisition or disposal of financial instruments on 12th February 2024.

The notification details the breakdown of the voting rights, with 3.500161% attached to shares and 7.034397% through financial instruments. The financial instruments include various swaps with expiration dates ranging from 2024 to 2028, each contributing to the overall voting rights held by Bank of America Corporation.

The notification also provides information about the controlled undertakings through which the voting rights and financial instruments are effectively held, starting with Bank of America Corporation as the ultimate controlling entity. The subsidiaries, including BofA Securities Europe, SA and Merrill Lynch International, are listed along with their respective percentages of voting rights.

The completion date for this notification was 13th February 2024. This update provides insight into the changes in major holdings within Drax Group PLC and the entities involved, offering transparency to the market and stakeholders.