| Aberforth Smaller Companies Trust plc (“ASCOT”) |
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| The Net Asset Values (“NAVs”) per Ordinary Share for the above company as at the close of business on 25 May 2018 were:- |
|
| Excluding current year Revenue = 1,576.54p |
| Including ALL Revenue = 1,596.69p |
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| ASCOT has bank debt facilities available to allow gearing of up to 8.6% of Shareholders’ Funds. Current gearing is 0.8%. There are currently 91,360,251 Ordinary Shares of 1p in issue. |
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| Contact: |
| David Holland |
| For and on behalf of Aberforth Partners LLP, Secretaries |
| Telephone: 0131 220 0733 |
| 29 May 2018 |