Business Context and Reporting Period
This Form 6-K filing by National Grid plc (incorporated in England and Wales) was submitted to the SEC on May 28, 2025. The filing serves as a notification of a major interest in the company's ordinary shares, triggered by a disclosure from Bank of America Corporation regarding its total voting rights position.
Key Financial Metrics
This filing is a regulatory disclosure of shareholding 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 and Shareholding Data
The filing details a change in Bank of America Corporation's total interest in National Grid voting rights as of May 23, 2025. The total interest is composed of direct shareholdings and financial instruments.
| Metric | Current Position (May 23, 2025) | Previous Position |
|---|---|---|
| Total Voting Rights (%) | 5.599285% | 5.605682% |
| Total Voting Rights (Number) | 274,435,597 | Not specified |
| Voting Rights Attached to Shares | 2.941402% (144,165,808 shares) | 2.922734% |
| Voting Rights via Financial Instruments | 2.657883% | 2.682948% |
The total interest decreased slightly from the previous notification. The financial instruments include various swaps, options, and rights to recall, with significant positions expiring in March 2026 (2.219874%) and June 2026 (0.207976%).
Guidance, Outlook, and Risks
This filing contains no management commentary, financial guidance, or outlook for National Grid plc. It is strictly a compliance document under the Disclosure and Transparency Rules (DTR) regarding the crossing of a notifiable threshold by a major shareholder. No specific risks or contingencies related to the company's operations are discussed.
Key Facts for Investor Verification
- Shareholder Identity: Bank of America Corporation holds a total interest of approximately 5.60% in National Grid.
- Composition of Interest: The holding is split between direct share ownership (~2.94%) and financial instruments (~2.66%), primarily equity swaps.
- Threshold Crossing: The notification was triggered by a "Legal Entity level crossing" on May 23, 2025.
- Operational Impact: This filing does not indicate any change in National Grid's business operations, strategy, or financial health.