Premium trust becomes split cap vehicle

The £45m Premium trust, managed by Martin Currie, is to be converted into a split cap investment vehicle. The trust's board approved last week the sub-dividing of each ordinary share into one zero dividend preference share, one income share and one capital share. Investors are to have the option of holding the new shares either in the form of units, comprising one share of each class, or in the underlying separate components. The proposals will still require the approval of shareholders and the board is to hold an extraordinary general meeting on 28 September 2000. Shareholders holdi...