Director/PDMR Shareholding

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Robert Talbut
2	Reason for the notification
a)	Position/status	Non-executive Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Pacific Assets Trust plc
b)	LEI	2138008U8QPGAESFYA48
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 12.5p shares GB0006674385
b)	Nature of the transaction	Acquisition for own account
c)	Price(s) and volume(s)	Price(s) Volume(s) 252.25 pence per share 4,729
d)	Aggregated information - Aggregated volume - Price	4,729 ordinary 12.5p shares 252.25 pence per share
e)	Date of the transaction	2 November 2016
f)	Place of the transaction	London Stock Exchange (XLON)

Name of authorised official of issuer responsible for making notification:

Mark Pope, for and on behalf of Frostrow Capital LLP

Company Secretary to PACIFIC ASSETS TRUST plc