Bank of America Corporation has notified Drax Group PLC that it has acquired voting rights and financial instruments in the company. The acquisition took place on October 3, 2023, and the notification was made on October 4, 2023. Bank of America Corporation now holds a total of 10.313795% of the voting rights in Drax Group PLC.
The breakdown of the holdings is as follows: Bank of America Corporation holds 3.055523% of the voting rights through direct shareholding, with a total of 11,749,792 direct voting rights. In addition, Bank of America Corporation holds 7.258272% of the voting rights through financial instruments, with a total of 7,866,064 voting rights that may be acquired if the instruments are exercised or converted.
The financial instruments held by Bank of America Corporation include swaps with various expiration dates and cash settlement. These instruments account for 5.212709% of the voting rights in Drax Group PLC.
Bank of America Corporation is the ultimate controlling person, and it holds the voting rights and financial instruments through its controlled undertakings, including Bank of America, National Association, BofA Securities Europe, SA, Managed Account Advisors, LLC, and Merrill Lynch International.
No information is provided regarding proxy voting or additional details.
The completion date of the notification is October 4, 2023, and it was completed in an unspecified location.