JP Morgan US Smaller Companies investment trust is planning to try to raise some more money and split its shares so that for each existing share shareholders will get ten new ones. The Board is asking shareholders to approve the issue of new shares up to an amount equivalent to 20% of the existing share capital. This will be done on a non pre-emptive basis but to protect shareholders they will only issue shares at a premium.
Shareholders get to vote on the proposals, assuming they approve, the share split will be effective on 6 March.