NAV Management Programme

Chelverton Small Companies Dividend Trust PLC

LEIs: 213800DAF47EJ2HT4P78

NAV Management Programme

The Company renewed permission to issue equity at the 2017 AGM in order to manage the balance between the supply and demand for shares provided the stock trades at a premium to its NAV (debt at fair value). Such share issuance will also increase the size of the Company which will benefit all shareholders as the cost of debentures are diluted, the ongoing charges ratio is reduced and the liquidity of the Company's shares is likely to increase.

For further information please contact:

Chelverton Small Companies Dividend Trust PLC

William van Heesewijk

Chelverton Asset Management

[phone]

Stockdale Securities Limited

Robert Finlay / Owen Matthews

[phone]