Business Context and Reporting Period
This Form 6-K filing by National Grid plc is dated June 12, 2024. The document serves as a notification of a major interest in the company's voting ordinary shares, submitted in compliance with the Disclosure and Transparency Rules. It details a notification received from JPMorgan Chase & Co. regarding their total interest in National Grid voting rights.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a regulatory disclosure regarding shareholding thresholds and does not contain financial performance data.
Material Changes
The material change reported is the crossing of a voting rights threshold by JPMorgan Chase & Co. on June 7, 2024. The total interest in National Grid voting ordinary shares reached 5.055749%, comprising:
- 4.885012% of voting rights attached to shares (181,797,644 shares).
- 0.170737% of voting rights through financial instruments (including depository receipts and cash-settled equity swaps).
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items. The document is strictly a notification of shareholding changes.
Important Facts for Investors to Verify
- Shareholder Threshold: JPMorgan Chase & Co. holds a total of 5.055749% of voting rights, crossing a notifiable threshold.
- Instrument Composition: The holding includes direct share ownership and various financial instruments, specifically cash-settled equity swaps with expiration dates ranging from October 2024 to June 2029.
- Notification Date: The issuer was notified on June 11, 2024, regarding the threshold crossed on June 7, 2024.
- Entity Structure: The interest is held through a chain of controlled undertakings, primarily J.P. Morgan Securities plc and J.P. Morgan Securities LLC.