Polar Capital Technology proposes share split to broaden access for smaller investors

Share price return surges more than 50%

Polar Capital Technology (PCT) has proposed a 1:10 share split to make the shares more accessible to smaller investors, as the trust’s discount continues to narrow on the back of strong performance.

In a stock exchange notice published today (17 July), alongside the trust's final results, the board said each existing ordinary share would be subdivided into ten new ordinary shares, subject to shareholder approval at the upcoming annual general meeting in September.  The move follows an increase in the price of the £4.4bn trust's existing ordinary shares in recent years, having regularly traded above £30 per share in the current financial year. "While this is positive for the company and our shareholders, we recognise that a higher share price might be a barrier to investment for c...