Director/PDMR Shareholding

Manchester & London Investment Trust plc

Notification of Transactions by Persons Discharging Managerial Responsibilities

and Persons Closely Associated with them

On 24 August 2017, Mr Sheppard bought 14,704 shares in Manchester & London Investment Trust plc, held via M&M Investment Company Plc (Investment Holding Company). Following this transaction, Mr Sheppard’s holding in the Company has increased to 11,259,347 ordinary shares, representing 51.03% of the share capital.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mark Sheppard
2	Reason for the notification
a)	Position/status	PDMR (Investment Manager)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Manchester & London Investment Trust plc
b)	LEI	213800HMBZXULR2EEO10
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of £0.25 each ISIN: GB0002258472
b)	Nature of the transaction	Aquisition of Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) £3.714212 14,704
d)	Aggregated information - Aggregated volume - Price	14,704 £54,613.77324
e)	Date of the transaction	24 August 2017
f)	Place of the transaction	London Stock Exchange (XLON)