Holding(s) in Company

RNS Number : 7944X

National Grid PLC

24 February 2017

National Grid plc (National Grid)

Notification of Major Interest in National Grid Ordinary Shares

National Grid has received a notification on Form TR-1 from Competrol International Investments Limited that its total interest in National Grid voting ordinary shares is as shown below.

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ⁱⁱ

National Grid plc

2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):	Extension of previously announced position. See Box 13 below. No threshold has been crossed.	X

3. Full name of person(s) subject to the notification obligation: ⁱⁱⁱ	Competrol International Investments Limited
4. Full name of shareholder(s) (if different from 3.): ^iv
5. Date of the transaction and date on which the threshold is crossed or reached: ^v	Existing position extended on 23 February 2017. See Box 13 below. No threshold was crossed.
6. Date on which issuer notified:	23 February 2017
7. Threshold(s) that is/are crossed or reached: ^{vi, vii}

8. Notified details:
A: Voting rights attached to shares ^{viii, ix}
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights	Number of shares	Number of voting rights		% of voting rights ^x
			Direct	Direct ^xi	Indirect ^xii	Direct	Indirect

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expiration date ^xiii	Exercise/ Conversion Period ^xiv	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}
Resulting situation after the triggering transaction
Type of financial instrument	Exercise price	Expiration date ^xvii	Exercise/ Conversion period ^xviii	Number of voting rights instrument refers to	% of voting rights ^{xix, xx}
Total Return Equity Swaps	-	27 February 2018	-	31,500,000	Nominal	Delta
	-	27 February 2018	-	31,500,000	-	0.84
	-	27 February 2020	-	105,664,285	-	2.81
Total				137,164,285	-	3.65

Total (A+B+C)
Number of voting rights	Percentage of voting rights
137,164,285	3.65

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: ^xxi

Proxy Voting:
10. Name of the proxy holder:	N/A
11. Number of voting rights proxy holder will cease to hold:	N/A
12. Date on which proxy holder will cease to hold voting rights:	N/A

13. Additional information:	This notification is merely as a result of the extension of part of an existing position to 27 February 2018 and the extension of the remainder of the existing position to 27 February 2020. There has been no change to the aggregate number of shares referable to the aggregate position and no threshold has been crossed.
14. Contact name:	Struan Oliver, Sidley Austin LLP
15. Contact telephone number:	020 7360 2063