SLI completes Smaller Cos trust merger

The merger was agreed by 99.8% of SLS shareholders, seeing around 68% of Gartmore Smaller Companies shares being transferred into continuation shares of SLS, with 8% opting for a cash exit and the remaining 24% selecting the in specie option. From this morning, the enlarged trust will have almost doubled in size, to around £63m of gross assets. Harry Nimmo has run the SLS trust since September 2003 and will continue to manage the merged vehicle. SLI head of investment trusts Gordon Humphries says: "We believe that this merger provides a win-win situation for both sets of shareholders ...