Business Context and Reporting Period
This Form 6-K filing by National Grid plc covers the period ending November 28, 2025. The report serves as a notification of regulatory updates regarding voting rights and transactions by Persons Discharging Managerial Responsibilities (PDMRs) and Non-Executive Directors, rather than a financial performance report.
Key Financial Metrics
The filing text does not provide data on revenue, profit, cash flow, margins, debt, or liquidity. The only financial data present relates to share capital and specific transaction prices:
- Registered Capital (as of Oct 31, 2025): 5,191,884,002 ordinary shares.
- Treasury Shares: 230,345,795.
- Shares with Voting Rights: 4,961,538,207.
- Share Transaction Prices: GBP 11.588 (Nov 7) and GBP 11.735285 (Nov 17).
Material Changes
No material changes to financial performance or operational status are reported. The filing details the following corporate actions:
- Voting Rights Update: Confirmation of the denominator for shareholder notification thresholds under FCA rules as of October 31, 2025.
- Executive Purchases: Routine monthly purchases of "partnership shares" under the Share Incentive Plan by the CFO, CEO, and Chief People Officer on November 7, 2025.
- Director Purchase: A purchase of 4,500 ordinary shares by Non-Executive Director Iain Mackay on November 17, 2025.
Guidance, Outlook, and Risks
The filing text does not contain management commentary, financial guidance, outlook, risk factors, or contingencies. The document is strictly a compliance filing under the Market Abuse Regulation (MAR) and Disclosure Guidance and Transparency Rules.
Investor Verification Checklist
- Verify the total number of voting shares (4,961,538,207) for calculating disclosure thresholds under FCA rules.
- Confirm the recent share price range (approx. GBP 11.59 - 11.74) based on internal PDMR transactions.
- Note that this filing contains no financial results; refer to the most recent Form 20-F or interim report for operational metrics.