NEXT PLC has received a notification on Form TR-1 from The Capital Group Companies, Inc., stating that they have acquired 5.15% of voting rights in the company. The notification, dated 25th March 2024, reveals that the acquisition of voting rights occurred on 22nd March 2024. The Capital Group Companies, Inc. is the parent company of Capital Research and Management Company (CRMC) and Capital Bank & Trust Company (CB&T). CRMC is a U.S.-based investment management company that serves as the investment manager to various clients, including the American Funds family of mutual funds and other pooled investment vehicles.
The notification also clarifies that neither The Capital Group Companies, Inc. nor any of its affiliates own shares of NEXT PLC for its own account. Instead, the shares reported in the notification are owned by accounts under the discretionary investment management of one or more of the investment management companies under The Capital Group Companies, Inc. This includes CRMC and its investment manager affiliates, which manage equity assets for various investment companies through three divisions: Capital Research Global Investors, Capital International Investors, and Capital World Investors. Additionally, Capital Group International, Inc. (CGII) is the parent company of six investment management companies, primarily serving institutional and high net worth clients.
The notification provides a comprehensive overview of the structure and operations of The Capital Group Companies, Inc., shedding light on its various investment management entities and their roles. The disclosure offers insights into the ownership and management of voting rights in NEXT PLC, emphasizing that the shares are held by accounts under the discretionary investment management of the affiliated investment management companies.