Bank of America Corporation has notified Drax Group PLC of an increase in its voting rights in the company. The notification, dated March 5, 2024, indicates that the total positions of Bank of America Corporation now stand at 10.222873% of voting rights attached to shares, with 4.278510% through direct voting rights and 5.944363% through financial instruments. This represents an increase from the previous notification, where the total voting rights were at 10.195868%.
The details of the resulting situation on the date the threshold was crossed or reached show that Bank of America Corporation holds 16,458,683 direct voting rights, representing 4.278510% of the total voting rights. Additionally, through financial instruments, they hold 8,800,953 voting rights, which accounts for 2.287848% of the total voting rights.
The notification also provides information on the financial instruments held by Bank of America Corporation, including the expiration dates, exercise/conversion periods, and the number of voting rights associated with each instrument. The report indicates that Bank of America Corporation holds voting rights through various swaps, with expiration dates ranging from 2024 to 2028.
The notification further outlines the chain of 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 controlled undertakings include Bank of America, National Association, BofA Securities Europe, SA, Managed Account Advisors, LLC, and Merrill Lynch International.
The completion date of the notification was March 5, 2024. This notification provides insights into the changes in voting rights and the details of financial instruments held by Bank of America Corporation in Drax Group PLC.