RNS Number : 9870E

Drax Group PLC

12 May 2017

12 May 2017

Drax Group plc

(Symbol:DRX)

NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:		Drax Group plc
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights		Yes
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):		Type 1 & 3 Disclosure as per the Transparency II Directive Regulation
3. Full name of person(s) subject to the notification obligation:		Schroders plc
4. Full name of shareholder(s) (if different from 3.)
5. Date of the transaction and date on which the threshold is crossed or reached:		10.05.2017
6. Date on which issuer notified:		11.05.2017
7. Threshold(s) that is/are crossed or reached:		From 15% to 16%

8. Notified details:

A: Voting rights attached to shares

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

Direct

Direct

Indirect

Direct

Indirect

Ordinary 11.5517p Shares GB00B1VNSX38

64,934,123

64,894,941

65,131,703

n/a

65,103,243

n/a

16.002%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

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

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date

Exercise/ Conversion period

Number of voting rights instrument refers to

% of voting rights

CFD

N/A

N/A

N/A

28,460

Nominal

Delta

0.007%

1

Total (A+B+C)

Number of voting rights

Percentage of voting rights

65,131,703

16.009%

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

Schroder & Co. Limited	1,049,662	0.258%
Schroder Investment Management Limited	64,082,041	15.751%

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

The shares referred to in in section 9 are held in portfolios managed by those firms on a discretionary basis for clients under investment management agreements.  This disclosure has been calculated based on issue share capital amount 406,851,207.

14. Contact name:

Laura Dobson

Deputy Company Secretary

15. Contact telephone number:

01757 612778

This information is provided by RNS

The company news service from the London Stock Exchange

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