Orbis Allan Gray Limited, a major shareholder of Drax Group PLC, has notified a significant increase in its voting rights in the company. The notification, dated 23rd January 2024, indicates that the threshold was crossed on 5th January 2024, with a resulting total of 5.010600% of voting rights attached to shares, representing 19,274,154 voting rights held in the issuer. This marks an increase from the previous position of 4.927300% of voting rights.
Orbis Allan Gray Limited, based in Hamilton, Bermuda, holds these voting rights through its controlled undertakings, Orbis Holdings Limited and Orbis Investment Management Limited. The notification also specifies that the increase in voting rights is a result of an acquisition or disposal of voting rights.
The notification provides detailed information about the financial instruments and their impact on voting rights, as well as the full chain of controlled undertakings through which the voting rights and financial instruments are effectively held. It also includes the date of completion, which is 8th January 2024.
This notification is a standard form for the disclosure of major holdings, as per regulatory requirements, and provides transparency about significant changes in voting rights within Drax Group PLC.