Director/PDMR Shareholding

The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.

1 - Details of the person discharging managerial responsibilities / person closely associated
Name of natural person	Ewen Stewart
2 - Reason for the notification
Position/status	Spouse of Victoria Stewart (Non Executive Director)
Initial notification/amendment	Sale
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Aberforth Smaller Companies Trust plc
Legal Entity Identifier code	213800GZ9WC73A92Q326
4 - Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Financial Instrument	Ordinary Shares
Identification Code	SEDOL: 0006655
Nature of transaction	Sale
Date Of Transaction	3rd September 2020
Price (s)	£8.622525
Volume(s)	1,350 (Mr Stewart sold these shares as part of portfolio optimisation)
Aggregated information	N/A
Place Of Transaction	London Stock Exchange, Main Market (XLON)
Currency	GBP - British Pound
5 - Total holding following this notification	4,200 (This figure remains the holding of Victoria Stewart who had previously purchased shares)
Contact	Michael Campbell
	Aberforth Partners LLP, Secretaries
Date of Notification	07 September 2020