Holding(s) in Company

National Grid PLC

07 June 2023

 

7 June 2023 

National Grid plc ('National Grid' or 'Company') 

Notification of Major Interest in National Grid Ordinary Shares 

National Grid has received a notification on Form TR-1 from Bank of America Corporation that its total interest in National Grid voting ordinary shares is as shown below. 

TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

GB00BDR05C01

Issuer Name

NATIONAL GRID PLC

UK or Non-UK Issuer

UK

2. Reason for Notification

An acquisition or disposal of voting rights

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

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

City of registered office (if applicable)

Country of registered office (if applicable)

5. Date on which the threshold was crossed or reached

02-Jun-2023

6. Date on which Issuer notified

06-Jun-2023

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

	% of voting rights attached to shares (total of 8.A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)	Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached	2.353862	3.536233	5.890095	216654059
Position of previous notification (if applicable)	2.550385	3.534363	6.084748

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 ISIN code(if possible)	Number of direct voting rights (DTR5.1)	Number of indirect voting rights (DTR5.2.1)	% of direct voting rights (DTR5.1)	% of indirect voting rights (DTR5.2.1)
GB00BDR05C01		67755626		1.842048
US6362744095		18825947		0.511814
Sub Total 8.A	86581573		2.353862%

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

Type of financial instrument	Expiration date	Exercise/conversion period	Number of voting rights that may be acquired if the instrument is exercised/converted	% of voting rights
Right to Recall	N/A	N/A	411118	0.011177
Physical Call Options	15/12/2023	N/A	650000	0.017671
Physical Call Options	21/07/2023	N/A	743000	0.020200
Physical Swap	15/06/2023	N/A	3068740	0.083429
Sub Total 8.B1			4872858	0.132477%

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

Type of financial instrument	Expiration date	Exercise/conversion period	Physical or cash settlement	Number of voting rights	% of voting rights
Swaps	29/09/2023	N/A	Cash	24992	0.000679
Swaps	01/03/2024	N/A	Cash	2866777	0.077938
Swaps	03/06/2024	N/A	Cash	3953630	0.107486
Swaps	31/07/2024	N/A	Cash	1576449	0.042858
Swaps	02/05/2025	N/A	Cash	526	0.000014
Swaps	06/05/2025	N/A	Cash	99108	0.002694
Swaps	26/05/2026	N/A	Cash	646598	0.017579
Swaps	15/02/2028	N/A	Cash	9598	0.000261
Swaps	13/06/2023	N/A	Cash	135108	0.003673
Swaps	10/07/2023	N/A	Cash	14474	0.000393
Swaps	17/07/2023	N/A	Cash	33193	0.000902
Swaps	15/02/2024	N/A	Cash	16696	0.000454
Swaps	01/03/2024	N/A	Cash	2866777	0.077938
Swaps	17/04/2024	N/A	Cash	250000	0.006797
Swaps	31/05/2024	N/A	Cash	62962253	1.711732
Swaps	03/06/2024	N/A	Cash	3953630	0.107486
Swaps	24/06/2024	N/A	Cash	17684	0.000481
Swaps	25/06/2024	N/A	Cash	1675	0.000046
Swaps	26/06/2024	N/A	Cash	1835	0.000050
Swaps	02/07/2024	N/A	Cash	47121	0.001281
Swaps	31/07/2024	N/A	Cash	1748729	0.047542
Swaps	08/08/2024	N/A	Cash	143171	0.003892
Swaps	30/08/2024	N/A	Cash	114574	0.003115
Swaps	18/11/2024	N/A	Cash	1204826	0.032755
Swaps	22/11/2024	N/A	Cash	11258988	0.306094
Swaps	25/11/2024	N/A	Cash	24000000	0.652479
Swaps	29/11/2024	N/A	Cash	2997067	0.081480
Swaps	02/12/2024	N/A	Cash	119079	0.003237
Swaps	12/12/2024	N/A	Cash	14080	0.000383
Swaps	24/01/2025	N/A	Cash	2517	0.000068
Swaps	25/02/2025	N/A	Cash	754189	0.020504
Swaps	02/05/2025	N/A	Cash	526	0.000014
Swaps	06/05/2025	N/A	Cash	99108	0.002694
Swaps	07/11/2025	N/A	Cash	256440	0.006972
Swaps	06/03/2026	N/A	Cash	62992	0.001713
Swaps	16/03/2026	N/A	Cash	1622469	0.044109
Swaps	18/03/2026	N/A	Cash	56823	0.001545
Swaps	26/05/2026	N/A	Cash	646598	0.017579
Swaps	15/09/2027	N/A	Cash	5247	0.000143
Swaps	15/12/2027	N/A	Cash	470	0.000013
Swaps	15/02/2028	N/A	Cash	205663	0.005591
Physical Put Option	16/06/2023	N/A	Physical	385000	0.010467
Cash Equity Option	21/07/2023	N/A	Cash	13262	0.000361
Cash Equity Option	16/06/2023	N/A	Cash	690	0.000019
Cash Equity Option	18/08/2023	N/A	Cash	8996	0.000245
Sub Total 8.B2				125199628	3.403756%

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 person	Name of controlled undertaking	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
Bank of America Corporation	Bank of America, NA
Bank of America Corporation	BofA Securities, Inc.
Bank of America Corporation	BofA Securities Europe, SA
Bank of America Corporation	Managed Account Advisors, LLC
Bank of America Corporation	Merrill Lynch International		3.215681	5.033011%
Bank of America Corporation	Merrill Lynch, Pierce, Fenner & Smith Inc.
Bank of America Corporation	U.S. Trust Co of Delaware

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

06-Jun-2023

13. Place Of Completion

United Kingdom                                             

This notice is in compliance with National Grid's obligations under the Disclosure and Transparency Rules.  

Pritti Patel   

General Counsel, Corporate and Deputy Company Secretary   

 

END