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
a) Name of natural person	David Jeffcoat
2 - Reason for the notification
a) Position/status	Director
b) Initial notification/amendment	Initial Notification
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Full name of the entity	Aberforth Smaller Companies Trust plc
b) 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
a) Financial Instrument	Ordinary Shares
Identification Code	SEDOL: 0006655
b) Nature of transaction	Purchase through dividend reinvestment plan
c) Date Of Transaction	26 August 2016
d) Price (s)	1030.7 pence
e) Volume(s)	63
f) Aggregated information	N/A
g) Place Of Transaction	London Stock Exchange, Main Market (XLON)
h) Currency	GBP - British Pound
Contact	David Holland
	Aberforth Partners LLP, Secretaries
Date of Notification	30 August 2016