Bank of America Corporation has notified Drax Group PLC of an increase in its voting rights and financial instruments holdings. The notification, dated 11th July 2024, indicates that the total positions of Bank of America Corporation now stand at 9.306842% of voting rights attached to shares and 8.879504% of voting rights through financial instruments, totaling 18.186346% in the company. This is an increase from the previous notification, which stood at 9.374218% in total.

The details of the resulting situation on the date the threshold was crossed or reached show that Bank of America Corporation holds 0.427338% of voting rights attached to shares and 4.773478% of voting rights through financial instruments of the total voting rights held in Drax Group PLC. The financial instruments held by Bank of America Corporation include various physical swaps and swaps with similar economic effects, with expiration dates ranging from 2024 to 2028.

The notification also provides information about the controlled undertakings through which the voting rights and/or the financial instruments are effectively held, starting with the ultimate controlling natural person or legal entities. Bank of America Corporation holds these positions through Managed Account Advisors, LLC, Bank of America, National Association, BofA Securities Europe SA, and Merrill Lynch International.

The completion date for this notification was 10th July 2024. This notification provides insight into the increased holdings of Bank of America Corporation in Drax Group PLC, reflecting its growing influence within the company.