DSM: Net Asset Value(s) and Portfolio

Downing Strategic Micro-Cap Investment Trust Plc
LEI Code: 213800QMYPUW4POFFX69
Net Asset Values
The Company announces the following, all of which is unaudited:
Total Assets - including current period revenue* at 31 January 2023		£38.06m
Net Assets - including current period revenue* at 31 January 2023		£38.06m
Number of shares in issue (excluding treasury):		49,270,767
The Net Asset Value (NAV) per share at 31 January 2023 was:
Per Ordinary share (bid price) - including current period revenue*		77.24p
Per Ordinary share (bid price) - excluding current period revenue*		77.24p
Ordinary share price		61.50p
Premium/(Discount) to NAV (including current period revenue)		(20.38%)
* Current period revenue covers the period 01/03/2022 to 31/01/2023 and includes undistributed revenue in respect of that period.
Portfolio summary:		% of portfolio
1	Real Good Food Plc (Loan Notes, including accrued interest)	10.89%
2	Centaur Media Plc	8.63%
3	Hargreaves Services Plc	8.30%
4	Flowtech Fluidpower Plc	8.02%
5	Cash and other net current assets	7.65%
6	Ramsdens Holdings Plc	6.99%
7	Synectics Plc	6.31%
8	National World Plc	5.85%
9	DigitalBox plc	4.68%
10	Volex Plc	4.61%
11	Fireangel Safety Technology Plc	4.61%
12	Inspecs Group plc	4.36%
13	Equals Group Plc	4.02%
14	Adept Technology Group Plc	3.57%
15	Journeo plc	3.53%
16	Tactus Holdings Limited	3.01%
17	Theworks.co.uk Plc	2.36%
18	Norman Broadbent Plc	1.24%
19	Real Good Food Company Plc	0.26%
	Other	1.11%
	Total	100.00%