Bank of America Corporation has notified Drax Group PLC of a legal entity level crossing, resulting in a total of 10.243180% of voting rights held in the issuer. This includes 1.048994% of voting rights attached to shares and 9.194186% of voting rights through financial instruments. The financial instruments include swaps with various expiration dates and cash settlements, collectively amounting to 9.138446% of voting rights.
The notification also details the full chain of controlled undertakings through which the voting rights and/or financial instruments are effectively held, starting with Bank of America Corporation as the ultimate controlling person. The controlled undertakings include BofA Securities Europe, SA, Managed Account Advisors, LLC, Merrill Lynch International, and Bank of America, National Association, each holding varying percentages of voting rights.
The notification was completed on 24th May 2024 by Bank of America Corporation. This notification provides insight into the significant increase in voting rights held by Bank of America Corporation in Drax Group PLC and the complex web of controlled undertakings through which these rights are held.