Bank of America Corporation has notified Drax Group PLC of an increase in its voting rights in the company. The notification, dated 12th January 2024, indicates that Bank of America Corporation now holds 12.077043% of voting rights in Drax Group PLC, up from the previous 11.844199%. This increase is attributed to both direct voting rights and voting rights through financial instruments.
The details provided in the notification reveal that Bank of America Corporation, through its various subsidiaries including Merrill Lynch International and BofA Securities Europe, SA, holds a significant percentage of voting rights in Drax Group PLC. The increase in voting rights is a result of the acquisition of additional shares and financial instruments.
The notification also includes information about the financial instruments held by Bank of America Corporation, such as swaps with cash settlement, each contributing to the overall voting rights held. The total number of voting rights held by Bank of America Corporation in Drax Group PLC is now 46,456,147.
The completion date of the notification is 12th January 2024, and it was completed in the United Kingdom. This notification provides transparency regarding the significant increase in voting rights held by Bank of America Corporation in Drax Group PLC, reflecting the corporation's continued interest and involvement in the company's affairs.