Business Context and Reporting Period
This Form 6-K filing by National Grid plc was submitted on November 25, 2024. The document serves as a notification of a major interest in the company's ordinary shares, complying with the Disclosure and Transparency Rules. It details a significant change in shareholding by UBS Group AG, which crossed a notifiable threshold on November 20, 2024.
Key Financial Metrics
This filing is a regulatory notification regarding share ownership and does not contain financial performance data. Consequently, the following metrics are not provided in this document:
- Revenue, Profit, and Margins: Not reported.
- Cash Flow and Liquidity: Not reported.
- Debt Levels: Not reported.
Material Changes
The primary material change disclosed is the acquisition of voting rights by UBS Group AG. As of the threshold crossing date (November 20, 2024), UBS Group AG's total interest in National Grid voting ordinary shares reached 5.070572%. This represents an increase from a previous position of 0.000000%.
| Component | Voting Rights (%) | Number of Rights |
|---|---|---|
| Voting rights attached to shares (Direct) | 4.802713% | 234,662,791 |
| Voting rights through financial instruments | 0.267859% | 13,087,756 |
| Total Interest | 5.070572% | 247,750,547 |
The financial instruments include call options, equity swaps, swaps on baskets, put options, and rights to recall lent shares and depositary receipts.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for National Grid plc. It is strictly a disclosure of a shareholder's position. No specific risks or contingencies related to the company's operations are discussed in this document.
Investor Verification Checklist
- Verify the total voting percentage held by UBS Group AG (5.07%) against the company's total issued share capital.
- Review the breakdown of financial instruments (swaps, options) to understand the potential for future voting right fluctuations.
- Confirm the date the threshold was crossed (November 20, 2024) versus the notification date (November 22, 2024).
- Note that this filing does not reflect operational performance; refer to the latest Form 20-F or interim reports for financial results.