TIDMDRX TIDM51DV

RNS Number : 2382V

Drax Group PLC

30 November 2023

TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

GB00B1VNSX38

Issuer Name

DRAX GROUP PLC

UK or Non-UK Issuer

UK

2. Reason for Notification

An acquisition or disposal of financial instruments

3. Details of person subject to the notification obligation

Name

Bank of America Corporation

City of registered office (if applicable)

Country of registered office (if applicable)

US

4. Details of the shareholder

 
  Name                            City of registered office    Country of registered office 
   Merrill Lynch International     London                       United Kingdom 
                                ===========================  ============================== 
 

5. Date on which the threshold was crossed or reached

28-Nov-2023

6. Date on which Issuer notified

29-Nov-2023

7. Total positions of person(s) subject to the notification obligation

 
                          % of voting rights      % of voting rights      Total of both in %      Total number of 
                          attached to shares      through financial       (8.A + 8.B)             voting rights held 
                          (total of 8.A)          instruments (total                              in issuer 
                                                  of 8.B 1 + 8.B 2) 
   Resulting situation 
    on the date on 
    which threshold 
    was crossed or 
    reached                3.684012                8.309933                11.993945               46125704 
                        ======================  ======================  ======================  ====================== 
   Position of 
    previous 
    notification (if 
    applicable)            3.687804                8.327775                12.015579 
                        ======================  ======================  ======================  ====================== 
 

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

 
Class/Type of shares    Number of direct        Number of indirect      % of direct voting      % of indirect voting 
ISIN code(if possible)  voting rights (DTR5.1)  voting rights           rights (DTR5.1)         rights (DTR5.2.1) 
                                                (DTR5.2.1) 
GB00B1VNSX38                                       14167785                                        3.684012 
                        ======================  ======================  ======================  ====================== 
Sub Total 8.A              14167785                                        3.684012% 
                        ==============================================  ============================================== 
 

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

 
Type of financial           Expiration date   Exercise/conversion period  Number of voting rights   % of voting rights 
instrument                                                                that may be acquired if 
                                                                          the instrument is 
                                                                          exercised/converted 
 Right to Recall             N/A               N/A                         377333                    0.098117 
                            ================  ==========================  ========================  ================== 
 Physical Swap               16/05/2024        N/A                         6770466                   1.760506 
                            ================  ==========================  ========================  ================== 
 Physical Swap               15/05/2024        N/A                         1971918                   0.512753 
                            ================  ==========================  ========================  ================== 
Sub Total 8.B1                                                             9119717                     2.371376% 
                                                                          ========================  ================== 
 

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

 
Type of financial   Expiration date   Exercise/conversion   Physical or cash    Number of voting    % of voting rights 
instrument                            period                settlement          rights 
 Swaps               31/07/2024        N/A                   Cash                116986              0.030420 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               01/03/2024        N/A                   Cash                4000000             1.040109 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               30/08/2024        N/A                   Cash                1611717             0.419090 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               08/09/2025        N/A                   Cash                32414               0.008429 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               07/11/2025        N/A                   Cash                1278058             0.332330 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               29/04/2024        N/A                   Cash                13278               0.003453 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               17/05/2024        N/A                   Cash                3946322             1.026152 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               26/05/2026        N/A                   Cash                2310080             0.600684 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               28/06/2024        N/A                   Cash                230701              0.059989 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               18/11/2024        N/A                   Cash                550927              0.143256 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               24/04/2024        N/A                   Cash                13023               0.003386 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               02/07/2024        N/A                   Cash                15585               0.004053 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               23/10/2024        N/A                   Cash                1004939             0.261312 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               18/04/2024        N/A                   Cash                5804998             1.509458 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               15/02/2028        N/A                   Cash                822942              0.213987 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               21/10/2024        N/A                   Cash                349141              0.090786 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               30/09/2024        N/A                   Cash                498991              0.129751 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               15/02/2024        N/A                   Cash                43391               0.011283 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               31/10/2024        N/A                   Cash                55375               0.014399 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               29/11/2024        N/A                   Cash                124545              0.032385 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               27/05/2025        N/A                   Cash                2305                0.000599 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               12/06/2025        N/A                   Cash                9539                0.002480 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               24/06/2024        N/A                   Cash                687                 0.000179 
                    ================  ====================  ==================  ==================  ================== 
 Swaps               28/05/2025        N/A                   Cash                2258                0.000587 
                    ================  ====================  ==================  ==================  ================== 
Sub Total 8.B2                                                                   22838202            5.938557% 
                                                                                ==================  ================== 
 

9. Information in relation to the person subject to the notification obligation

2. Full chain of 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 (please add additional rows as necessary)

 
Ultimate controlling     Name of controlled       % of voting rights if  % of voting rights     Total of both if it 
person                   undertaking              it equals or is        through financial      equals or is higher 
                                                  higher than the        instruments if it      than the notifiable 
                                                  notifiable threshold   equals or is higher    threshold 
                                                                         than the notifiable 
                                                                         threshold 
                            Bank of America, 
   Bank of America           National 
    Corporation              Association                                    3.930356               3.930356% 
                         =======================  =====================  =====================  ====================== 
   Bank of America          BofA Securities 
   Corporation              Europe, SA 
                         =======================  =====================  =====================  ====================== 
   Bank of America          Managed Account 
   Corporation              Advisors, LLC 
                         =======================  =====================  =====================  ====================== 
   Bank of America          Merrill Lynch 
    Corporation              International           3.661612               4.375641               8.037253% 
                         =======================  =====================  =====================  ====================== 
 

10. In case of proxy voting

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional Information

12. Date of Completion

29-Nov-2023

13. Place Of Completion

United Kingdom

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END

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November 30, 2023 06:03 ET (11:03 GMT)

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