Bank of America Corporation has notified Drax Group PLC of an increase in its voting rights and financial instruments holdings. The notification, dated 29th January 2024, reveals that the total positions of Bank of America Corporation now stand at 11.57% of voting rights attached to shares and 7.55% of voting rights through financial instruments, totaling 19.12% in the company. This is an increase from the previous notification, where the total positions were at 11.92%.
The details of the resulting situation on the date the threshold was crossed or reached show that Bank of America Corporation holds 15,440,029 direct voting rights, accounting for 4.01% of the total voting rights. Additionally, through financial instruments, they hold 8,947,001 voting rights, representing 2.33% of the total voting rights. These financial instruments include physical swaps and swaps with similar economic effects, with varying expiration dates and cash settlements.
The notification also provides information about the person subject to the notification obligation, Bank of America Corporation, and its controlled undertakings, including Bank of America, National Association, BofA Securities Europe, SA, Managed Account Advisors, LLC, and Merrill Lynch International. These entities collectively hold voting rights and financial instruments in Drax Group PLC.
The completion date of the notification was 29th January 2024. This notification indicates a significant increase in Bank of America Corporation's holdings in Drax Group PLC, which could have implications for the company's ownership structure and decision-making processes.