Frequently Asked Questions

Where can I find information about Capital Gains Tax?

Information on Capital Gains Tax is available on the HM Revenue & Customs website When shares are disposed of a capital gain may result if the disposal proceeds exceed the sum of the base cost of the shares sold and any other allowable deductions such as share dealing costs. The exercise of subscription shares/warrants into ordinary shares should not have given rise to a capital gain, however a capital gain may arise on the eventual disposal of those shares. The calculations required to compute capital gains may be complex and depend on personal circumstances.

The above information is of a general nature and not exhaustive. Shareholders are advised to consult a tax advisor or their personal financial advisor for further information regarding a possible tax liability in respect of their shareholdings.

Market prices of the Company's ordinary shares, subscription shares and warrants for capital gains tax purposes, at the close of business on the first day of dealings in the Company’s shares and warrants, 14 March 1997, the first day of dealings after the conversion of the C shares and 14 February 2011, the first day for the 2011 issue of subscription shares were as follows:

  16 December 1996 14 March 1997 14 February 2011
Ordinary shares 96.0p 88.5p 389.25p
Warrants to subscribe for ordinary shares 36.0p 31.0p -  
Subscriptions shares - - 25.25p


I hold/held shares in the Company via a Savings Scheme or ISA

In 2001, the Company moved its investment management arrangements form Henderson Global Investors (Henderson) to Polar Capital (Polar). This resulted in investors who had invested in the Company through the Henderson Share Plan having to either transfer to a new Polar scheme or if they did not make an election they were sent a share certificate for their shareholding and became a direct investor.

The Polar scheme was administered by Cogent (which became BNP Paribas).  In 2012 BNP Paribas withdrew from providing this service and the Polar scheme ceased.  Investors were transferred to the Alliance Trust Savings Scheme or a provider of their choice.  If the investor did not make an election they were send a share certificate for their shareholding and became a direct investor.

Any questions regarding accounts transferred to ATS should be directed to ATS on 01382 573 737, via email at or by post to Alliance Trust Savings Limited, PO Box 164, 8 West Marketgait, Dundee, DD1 9YP.

Any questions regarding direct holdings (where a share certificate was issued) should be directed to Equiniti on 0371 384 2476, or by post to Equiniti Limited, Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA.

I was a shareholder in TR Technology plc

Former shareholders of TR Technology plc who accepted the offers made by Polar Capital Technology Trust plc for their shares in TR Technology plc may find the following table helpful:

TR Technology plc Polar Capital Technology Trust plc
For each ordinary share of 25p each: On 16 December 1996, one C share of 200p each. On 14 March 1997, on conversion of the C shares, 3.94342 ordinary shares of 25p each and one warrant to subscribe for ordinary shares in respect of every five ordinary shares arising on conversion of the C shares.
For each stepped preference share of 25p each: On 16 December 1996, 1.5561743 ordinary shares of 25p each and one warrant to subscribe for ordinary shares in respect of every five such ordinary shares.
For each zero dividend preference share of 25p each: On 16 December 1996, 2.7392426 ordinary shares of 25p each and one warrant to subscribe for ordinary shares in respect of every five such ordinary shares.


What arrangements are there for people with disabilities?

Copies of documents issued by PCT are available from the Company Secretary. If needed, copies can be made available in a variety of formats, either Braille or on audio tape or larger type as appropriate.

For hearing or speech impaired callers a ‘typetalk’ service can be accessed by dialling 18002 followed by the number you wish to dial.

For shareholders attending the Annual General Meeting of the Company an induction loop is available for hearing aid wearers.

How do nominees get copies of shareholder documents?

Where notification has been provided in advance to PCT it will arrange for copies of shareholder communications to be provided to the operators of nominee accounts.


What is the Company's long-term performance?

Click here to view the Company's performance.

What are subscription shares?

For details please visit the Subscription Share page.

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Important Legal Information

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, the PCT aims to maximise long-term capital growth by investing in a diversified portfolio of technology companies from around the world. The managers’ core belief in rigorous fundamental analysis, and being unconstrained by not following a benchmark, enables PCT to deliver global equity market outperformance through exposure to a universe of over 3,000 companies.

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The information contained within this website is issued by Polar Capital Technology Trust plc (‘Polar Capital Technology Trust’) and is provided for reference purposes only. Nothing herein is intended to be construed as an offer, invitation or inducement to engage in investment activity, or investment advice or recommendation, in relation to the shares of Polar Capital Technology Trust and should not be relied upon as such by any person. Prospective investors should take advice from their financial or other professional advisers before making any investment decision.

The information contained within this website is intended to be used for reference purposes only by persons in the UK. Nothing on this website is directed at any person outside the UK where the publication or availability of such information is prohibited or restricted. In particular, the information contained within this website is not intended for, and must not be accessed by or distributed or disseminated to, directly or indirectly, in whole or in part, persons resident or physically present in the United States of America, including its territories and possessions, any state of the United States and the District of Columbia (together, the "United States"), Canada, Australia or Japan, and does not constitute an offer to sell or the solicitation of an offer to buy or acquire, any securities of Polar Capital Technology Trust in the United States, Canada, Australia or Japan. Polar Capital Technology Trust is an Alternative Investment Fund (“AIF”) under the Alternative Investment Fund Managers Directive 2011/61/EU (“AIFMD”) managed by Polar Capital LLP the appointed Alternative Investment Fund Manager (“AIFM”). In relation to each member state of the EEA (each a “Member State”) which has implemented the AIFMD, shares may only be offered or placed in a Member State to the extent that a fund is permitted to be marketed to professional investors in the relevant Member State in accordance with AIFMD or as the shares may otherwise be lawfully offered or placed in that Member State (including at the initiative of the investor). As at the date of this document, Polar Capital Technology Trust have been approved, notified or registered in accordance with the AIFMD for marketing to professional investors in any member state of the EEA.

The securities of Polar Capital Technology Trust referred to on this website (the "Securities") have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in or into the United States or to, or for the account or benefit of, US persons (as defined in Regulation S under the Securities Act) absent registration under the Securities Act or pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. Polar Capital Technology Trust will not be registered under the U.S. Investment Company Act of 1940, as amended, and investors in the Securities will not be entitled to the protections of that Act.

Polar Capital Technology Trust is managed by Polar Capital LLP; Polar Capital LLP is not responsible for the content or accuracy of any information contained within this website.

If you are unsure about the meaning of any information provided on this website, please consult your financial or other professional adviser. Polar Capital Technology Trust cannot and does not offer investment advice.

General Risk Warning:

Please remember that past performance of an investment is not necessarily a guide to future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. The market value of the shares of Polar Capital Technology Trust may not reflect the underlying net asset value of the investments held by Polar Capital Technology Trust. Polar Capital Technology Trust is able to borrow to raise further funds for investment purposes if the fund manager and the board of directors consider that it may be commercially advantageous to do so. This is generally described as “gearing”. An investment trust which has made investments as a result of gearing may have a more volatile share price as a result; gearing can increase shareholder returns in rising markets but conversely can increase the extent to which the value of the funds attributable to shareholders decreases in falling markets. Tax assumptions may change if the law changes, and the value of tax relief (if any) will depend upon your individual circumstances. Investors should consult their own tax advisers in order to understand any applicable tax consequences.


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