Net Asset Value(s)

Downing Strategic Micro-Cap Investment Trust Plc
LEI Code: 213800QMYPUW4POFFX69
Net Asset Value
The Company announces:
Total Assets (including unaudited revenue reserves at 29 May 2020		£35.25m
Net Assets (including unaudited revenue reserves at 29 May 2020		£35.25m
Number of shares in issue (excluding treasury):		54,600,002
The Net Asset Value (NAV) per share at 29 May 2020 was:
Per Ordinary share (bid price) - including unaudited current period revenue * †		64.56p
Per Ordinary share (bid price) - excluding current period revenue * †		64.25p
Ordinary share price		53.00p
Premium/(Discount) to NAV (including current period revenue)		(17.90%)
* Current period revenue covers the period 01/03/2020 to 29/05/2020
† NAV quoted ex-div in respect of dividend of 1.6p per share payable on 3 July 2020 (subject to shareholder approval)
Portolio summary:		% of portfolio
1	Real Good Food Plc (Loan Notes)	19.59%
2	Volex Plc	18.24%
3	Cash and other net current assets	17.84%
4	Adept Technology Group Plc	6.89%
5	Ramsdens Holdings Plc	6.74%
6	Fireangel Safety Technology Plc	6.53%
7	Synectics Plc	6.00%
8	Hargreaves Services Plc	5.71%
9	Duke Royalty Ltd	3.91%
10	Science in Sport Plc	2.07%
11	Gama Aviation Plc	1.79%
12	Pennant International Group Plc	1.12%
13	Real Good Food Company Plc	0.75%
14	Braemar Shipping Services Plc	0.33%
	Other	2.49%
	Total	100.00%