Directorate Change

Aberforth Smaller Companies Trust plc (the "Company")

The Board of Aberforth Smaller Companies Trust plc is pleased to announce the appointment of Mr Martin Warner as an independent non-executive Director of the Company with effect from 1 March 2018, upon conclusion of the Annual General Meeting.

Martin Warner co-founded Michelmersh Brick Holdings plc in 1997 and served as Chief Executive and subsequently non-executive Chairman from May 2017. Martin is a Fellow of the Royal Institute of Chartered Surveyors and is Chairman of the Brick Development Association.

As previously announced on 26 January 2018, Mr David Jeffcoat, who has been an independent non-executive Director since July 2009, retired as a Director of the Company at the Annual General Meeting held on 1 March 2018. David has been a valued member of the Board and Chairman of the Audit Committee and the Directors will miss his incisive questioning and invaluable contributions.

Mrs Julia Le Blan has been appointed Chair of the Audit Committee and Mrs Paula Hay-Plumb has also been appointed as a member of the Audit Committee.  Both these appointments took effect from 1 March 2018, upon conclusion of the Annual General Meeting.

There are no further details required to be disclosed under LR 9.6.13 of the FCA Handbook.

Aberforth Partners LLP, Secretaries (Tel: [phone])

2 March 2018

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