Result of AGM

Aberforth Smaller Companies Trust plc

Legal Entity Identifier (“LEI”):  213800GZ9WC73A92Q326

Annual General Meeting held on 1 March 2018

The Board of Aberforth Smaller Companies Trust plc (“ASCoT”) hereby report that all the resolutions proposed at the Annual General Meeting held on 1 March 2018 were passed by Shareholders on a show of hands. A total of 38,119,772 proxy votes were received, representing 41.1% of the 92,702,637 Ordinary Shares in issue.

The table below shows the result of the proxy voting:

Resolution	Votes in favour	Discretionary Votes	Votes against	Votes withheld	Total proxy votes
1	38,086,379	32,202	0	1,191	38,119,772
2	38,070,978	32,202	10,516	6,076	38,119,772
3	38,087,176	32,182	414	0	38,119,772
4	38,034,006	34,402	50,414	950	38,119,772
5	38,085,336	32,202	1,284	950	38,119,772
6	38,085,336	32,202	1,284	950	38,119,772
7	38,081,406	32,202	414	5,750	38,119,772
8	38,082,337	32,202	4,283	950	38,119,772
9	38,082,466	32,202	1,614	3,490	38,119,772
10	38,077,726	33,652	7,980	414	38,119,772

Note

A "Vote withheld" is not a vote in law and is not counted in the calculation of the votes "For" or "Against" a resolution.

Contact:              

David Holland, Aberforth Partners LLP, Secretaries

Telephone: [phone]

2 March 2018