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Investment trusts may issue subscription shares, also known as warrants, to grow their assets. These shares can be converted into ordinary shares at a fixed price within a specified time. Holders are not obligated to convert them. For example, a holder might receive one subscription share for every five ordinary shares. If the ordinary shares' price changes after the subscription end date, the situation may vary. If subscription shares are received for free and allow conversion at £1 while ordinary shares trade at £1.50, converting would yield a profit of 50 pence per share, compared to purchasing them in the open market.