Launched in 1996, Polar Capital Technology Trust plc (PCT) has grown to become a leading European investor with a multi-cycle track record. Managed by a team of dedicated technology specialists, PCT aims to maximise long-term capital growth by investing in a diversified portfolio of technology companies from around the world.
Shareholder approval was given at the General Meeting held on 11 February 2011 to the Bonus Issue of Subscription Shares to Ordinary Shareholders whose names are on the Register as at the close of business on 10 February 2011 (with the exception of Overseas Shareholders), on the basis of one Subscription Share for every five Ordinary Shares.
The Subscription Shares were issued, free of cost, to Qualifying Shareholders on the terms and conditions set out in Part IV of the Prospectus which was published by the Company on 18 January 2011.
The Subscription Shares were issued and admitted to trading on the London Stock Exchange on 14 February 2011.
The Subscription Shares offer Ordinary Shareholders the right to subscribe for Ordinary Shares of the Company at pre-determined dates at pre-determined prices. Holders of Subscription Shares have the choice whether to subscribe for new Ordinary Shares.
The Subscription Shares reached their final exercise date on 31 March 2014 after which any unexercised rights lapsed and the Subscription Shares were cancelled.