Bank of America Corporation has notified Drax Group PLC of an increase in its voting rights in the company. The notification, dated 15th March 2024, indicates that the threshold was crossed on 13th March 2024. The total positions of Bank of America Corporation show a resulting situation with 11.274773% of voting rights held in Drax Group PLC, up from the previous 10.984416%. This increase is attributed to both direct voting rights and financial instruments.
The details of the resulting situation on the date the threshold was crossed or reached show that Bank of America Corporation holds 4.295092% of direct voting rights and 6.979681% of voting rights through financial instruments. The financial instruments include various swaps with expiration dates ranging from 2024 to 2028, each contributing to the total voting rights held.
The notification also provides information about the controlled undertakings through which the voting rights and/or financial instruments are effectively held. Bank of America Corporation's controlled undertakings, including BofA Securities Europe, SA, Managed Account Advisors, LLC, and Merrill Lynch International, collectively hold 8.271167% of voting rights in Drax Group PLC.
The completion date of the notification was 14th March 2024. This notification indicates a significant increase in Bank of America Corporation's holdings in Drax Group PLC and provides transparency about the voting rights and financial instruments involved.