Director/PDMR Shareholding

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required by DR 3.1.4R(1).

(1)	An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.
(2)	An issuer making a notification in respect of a derivative relating to the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.
(3)	An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.
(4)	An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

PLEASE COMPLETE ALL RELEVANT BOXES IN BLOCK CAPITAL LETTERS.

1. Name of the issuer:

PACIFIC ASSETS TRUST PLC

2. State whether the notification relates to:

1. a transaction notified in accordance with DR 3.1.2R; or

1. a disclosure made in accordance with LR9.8.6R(1); or

(iii)       a disclosure made in accordance with section 793 of the Companies Act 2006

(i)

3. Name of person discharging managerial responsibilities:

JENNIFER STEPHEN

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person:

AS IN 3 ABOVE

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest:

AS IN 3 ABOVE

6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares:

ORDINARY 12.5p SHARES

7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them:

NOT STATED

8. State the nature of the transaction:

ACQUISITION OF SHARES

9. Number of shares, debentures or financial instruments relating to shares acquired:

3,761 ORDINARY SHARES

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage):

0.003%

11. Number of shares, debentures or financial instruments relating to shares disposed:

NOT APPLICABLE

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage):

NOT APPLICABLE

13. Price per share or value of transaction:

185.25 PENCE PER SHARE

14. Date and place of transaction:

28 AUGUST 2015, LONDON

15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage):

3,761 ORDINARY SHARES 0.003%

16. Date issuer informed of transaction:

2 SEPTEMBER 2015

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17. Date of grant:

-

18. Period during which or date on which it can be exercised:

-

19. Total amount paid (if any) for grant of the option:

-

20. Description of shares or debentures involved (class and number):

-

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise:

-

22. Total number of shares or debentures over which options held following notification:

-

23. Any additional information:

NONE

24. Name of contact and telephone number for queries:

MARK POPE, FOR AND ON BEHALF OF FROSTROW CAPITAL LLP, COMPANY SECRETARY TEL: [phone]

Name and signature of duly authorised officer of issuer responsible for making notification:

MARK POPE

Date of notification:

2 SEPTEMBER 2015

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