Result of AGM

ABERFORTH SMALLER COMPANIES TRUST plc

ANNUAL GENERAL MEETING HELD ON 7 MARCH 2012

The Board of Aberforth Smaller Companies Trust plc ("ASCoT") hereby report that
all the resolutions proposed at the Annual General Meeting held on 7 March 2012
were passed by Shareholders on a show of hands. A total of 39,756,443 proxy
votes were received, representing 41.3% of the 96,318,792 Ordinary Shares in
issue.

The table below shows the result of the proxy voting:

Resolution   Votes in    Votes at          Votes at   Votes    Votes        Total
               favour  Chairman's         Corporate against withheld        proxy
                       discretion  Representative's                         votes
                                         discretion                              
                                                                               
1          39,709,872      21,806                 0  24,000      765   39,756,443
                                                                               
2          39,723,935      21,982                 0   8,761    1,765   39,756,443
                                                                               
3          39,724,163      21,982                 0   8,533    1,765   39,756,443
                                                                               
4          39,724,037      21,982                 0   8,659    1,765   39,756,443
                                                                               
5          39,724,163      21,982                 0   8,533    1,765   39,756,443
                                                                               
6          39,723,501      21,982                 0   8,431    2,529   39,756,443
                                                                               
7          39,697,780      22,096                 0  20,878   15,689   39,756,443
                                                                               
8          39,725,914      21,806                 0   3,219    5,504   39,756,443
                                                                               
9          39,643,032      26,540                 0  86,871        0   39,756,443

Copies of the resolutions passed by Shareholders of the Company will be
submitted to the National Storage Mechanism today and will shortly be available
for inspection at: www.Hemscott.com/nsm.do

Contact:

David Holland • Aberforth Partners LLP • 0131 220 0733

Aberforth Partners LLP, Secretaries - 8 March 2012

ANNOUNCEMENT ENDS