Drax Group PLC received a notification from Bank of America Corporation regarding an acquisition of financial instruments, resulting in a total of 10.815358% of voting rights held in the company. This includes 3.824191% of voting rights attached to shares and 6.991167% of voting rights through financial instruments. The notification, dated 20th February 2024, indicates that the threshold was crossed on 19th February 2024.
Bank of America Corporation's subsidiary, Merrill Lynch International, holds a total of 10.815358% of voting rights in Drax Group PLC, with 3.804361% held directly and 3.967633% held indirectly through financial instruments. The notification also details various financial instruments held by the corporation, including swaps with cash settlement, each contributing to the total voting rights.
The notification provides a comprehensive breakdown of the financial instruments held by Bank of America Corporation, including expiration dates, cash settlement details, and the percentage of voting rights associated with each instrument. The information also includes the full chain of controlled undertakings through which the voting rights and financial instruments are effectively held, starting with the ultimate controlling natural person or legal entities.
This notification is in compliance with the standard form for notification of major holdings, and it provides a clear overview of the increase in voting rights and financial instruments holdings by Bank of America Corporation and its subsidiaries in Drax Group PLC.