Capital Structure


The Trust has a split level capital structure consisting of 190,250,000 Ordinary Shares and 47,562,500 Zero Dividend Preference (ZDP) Shares. The Trust’s investment objective is to provide Ordinary Shareholders with a high level of income, together with the potential for income and capital growth, and to provide ZDP Shareholders with a pre-determined final capital entitlement of 127.25p on the planned winding up date of 1 July 2024.

Full details of the Trust's capital structure, including the rights attached to the Ordinary Shares and ZDP Shares, are set out in the Trust's Articles of Association. These are available to view or download from our Literature Library.