Bank of America trims Smith & Nephew (NYSE: SNN) holding
Rhea-AI Filing Summary
Smith & Nephew plc (SNN) reports a TR-1 notification of major holdings from a holder within the Bank of America group. As of the threshold date, this holder had 2.461592% of Smith & Nephew’s voting rights attached to shares and 0.427242% through financial instruments, for a total of 2.888834%, representing 24,191,594 voting rights. This total compares with a previously notified position of 3.172736%. Voting rights attached to shares are held via ISIN US83175M2052, and additional exposure is held through rights to recall and various cash-settled swaps and a put option with expiries between 2027 and 2030.
Positive
- None.
Negative
- None.
Key Figures
Total voting rights held: 24,191,594 voting rights
% of voting rights attached to shares: 2.461592%
% of voting rights through financial instruments: 0.427242%
+5 more
8 metrics
Total voting rights held
24,191,594 voting rights
Resulting situation when the threshold was crossed or reached
% of voting rights attached to shares
2.461592%
Resulting situation on threshold date (section 7 and 8.A)
% of voting rights through financial instruments
0.427242%
Resulting situation on threshold date (section 7, 8.B1 and 8.B2)
Total % of voting rights
2.888834%
Combined voting rights from shares and financial instruments
Previous total % of voting rights
3.172736%
Position of previous notification
Voting rights attached to shares
20,613,790 voting rights
Indirect voting rights via ISIN US83175M2052 (Sub Total 8.A)
Financial instruments (Right to Recall)
257,850 voting rights; 0.030791%
Sub Total 8.B1
Financial instruments with similar economic effect
3,319,954 voting rights; 0.396451%
Cash-settled swaps and put option (Sub Total 8.B2)
Key Terms
TR-1: Standard form for notification of major holdings, voting rights attached to shares, financial instruments with similar economic effect, cash settlement, +2 more
6 terms
TR-1: Standard form for notification of major holdings regulatory
"TR-1: Standard form for notification of major holdings 1. Issuer Details"
financial instruments with similar economic effect financial
"Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))"
cash settlement financial
"Physical or cash settlement | Number of voting rights | % of voting rights Swaps"
Cash settlement is a process where, instead of exchanging physical assets like stocks or commodities, the parties involved settle the difference in value with money after a contract ends. For investors, it simplifies transactions by avoiding the need to handle or deliver the actual asset, making it quicker and more convenient to complete trades. This method ensures a straightforward way to settle agreements based on their final value.
Right to Recall financial
"Type of financial instrument | Expiration date | Exercise/conversion period | Number of voting rights"
full chain of controlled undertakings regulatory
"Full chain of controlled undertakings through which the voting rights"
FAQ
How many Smith & Nephew (SNN) voting rights does the notifying holder control?
The notifying holder controls a total of 24,191,594 voting rights in Smith & Nephew plc at the time the threshold was crossed or reached, combining voting rights from shares and from financial instruments.
What is the role of Bank of America Corporation in this Smith & Nephew (SNN) TR-1 filing?
Bank of America Corporation is listed as the ultimate controlling person in a full chain of controlled undertakings, including Bank of America, National Association, BofA Securities, Inc., and U.S. Trust Co of Delaware, through which voting rights and financial instruments are effectively held.
Which Smith & Nephew (SNN) security is referenced for direct voting rights in this notice?
Direct voting rights relate to shares with ISIN US83175M2052, with 20,613,790 indirect voting rights attached to these shares, corresponding to 2.461592% of Smith & Nephew’s voting rights.
What types of financial instruments over Smith & Nephew (SNN) are included in the TR-1 notification?
The notification lists a Right to Recall instrument over 257,850 voting rights (0.030791%) and several cash-settled swaps plus a put option over a combined 3,319,954 voting rights (0.396451%) with expiries between 2027 and 2030.
AI-generated analysis. How Rhea-AI works. Not financial advice.
