CG57756 | OEICs: shareholders: shares: denomination

Any particular class of share in an OEIC can contain shares of smaller denomination and larger denomination. As the terms suggest, smaller denomination shares carry a lesser entitlement than shares of a larger denomination. Each larger denomination share is treated as though it represents the relevant number of smaller denomination shares, and the market value of each smaller denomination share is the relevant proportion of the market value of a larger denomination share. Provided they are of the same class, shares of larger and smaller denominations can go into the same share pool for capital gains purposes. See CTM48325 for further details.