Gartmore split cap to have £126m

Gartmore Split Capital Opportunities Trust (GSCOT), launched on 5 November, will be approximately £126.2m in size The trust's capital source consists of a placing of shares, bank debt and a roll over offer made to shareholders in the £61m Gartmore Scotland investment trust (GSIT). Some 46.67% of zero dividend preference shareholders in GSIT decided to roll over. The new trust also received acceptances from 61.68% of income shareholders and 42.69% of capital shareholders. Although GSIT is likely to continue until its scheduled wind up on 31 July 2001 as a listed subsidiary of GSCOT GSCOT ...