Flowtech Fluidpower PLC has announced that Downing LLP, a London-based entity, has acquired voting rights in the company. The acquisition occurred on April 26, 2024, and was notified to the issuer on April 30, 2024. Downing LLP, through its client funds managed by the firm, now holds 8.97% of the voting rights in Flowtech Fluidpower PLC, representing a total of 5,514,519 voting rights.
The notification indicates that Downing LLP holds these voting rights directly and not through any financial instruments. The acquisition of these voting rights by Downing LLP has resulted in a change in the total positions of the entity, as compared to the previous notification. The total percentage of voting rights held by Downing LLP has decreased from 9.46% to 8.97%.
The notification also includes details of the full chain of controlled undertakings through which the voting rights are effectively held, starting with Downing LLP as the ultimate controlling entity. Additionally, the notification confirms that there are no proxy voting arrangements in place related to these voting rights.
This notification provides important information about the change in voting rights within Flowtech Fluidpower PLC and the involvement of Downing LLP in the company. It offers insights into the shifting ownership and control dynamics within the organization, as well as the regulatory compliance and transparency requirements associated with such transactions.