Director/PDMR Shareholding

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY OR CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required
by DR 3.1.4R(1).

1.   Name of the issuer               2.   State whether the notification    
                                           relates to (i) a transaction      
                                           notified in accordance with DR    
                                           3.1.4R(1)(a); or                  
                                           (ii) DR 3.1.4(R)(1)(b) a          
                                           disclosure made in accordance with
                                           section 324 (as extended by       
                                           section 328) of the Companies Act 
                                           1985; or                          
                                           (iii) both (i) and (ii)           
                                                                             
     Invesco Perpetual UK Smaller          (i)                               
     Companies Investment Trust plc                                          
                                                                             
3.   Name of person discharging       4.   State whether notification relates
     managerial responsibilities/          to a person connected with a      
     director                              person discharging managerial     
                                           responsibilities/director named in
                                           3 and identify the connected      
                                           person                            
                                                                             
     Mr C G A Fletcher                     n/a                               
                                                                             
5.   Indicate whether the             6.   Description of shares (including  
     notification is in respect of a       class), debentures or derivatives 
     holding of the person referred        or financial instruments relating 
     to in 3 or 4 above or in respect      to shares                         
     of a non-beneficial interest[1]                                         
                                                                             
     As above in 3                         Ordinary shares of 20p each       
                                                                             
7.   Name of registered shareholders  8    State the nature of the           
     (s) and, if more than one, the        transaction                       
     number of shares held by each of                                        
     them                                                                    
                                                                             
     Alliance Trust Savings Nominees       Purchase of Ordinary shares for   
     Limited                               SIPP                              

   

9.   Number of shares, debentures or  10.  Percentage of issued class        
     financial instruments relating        acquired (treasury shares of that 
     to shares acquired                    class should not be taken into    
                                           account when calculating          
                                           percentage)                       
                                                                             
     13,069                                0.024%                            
                                                                             
11.  Number of shares, debentures or  12.  Percentage of issued class        
     financial instruments relating        disposed (treasury shares of that 
     to shares disposed                    class should not be taken into    
                                           account when calculating          
                                           percentage)                       
                                                                             
     N/A                                   N/A                               
                                                                             
                                                                             
13.  Price per share or value of      14.  Date and place of transaction     
     transaction                                                             
                                                                             
     380.6150p                             9 June 2015                       
                                                                             
15.  Total holding following          16.  Date issuer informed of           
     notification and total                transaction                       
     percentage holding following                                            
     notification (any treasury                                              
     shares should not be taken into                                         
     account when calculating                                                
     percentage)                                                             
                                                                             
     27,219        0.051%                  9 June 2015                       

If a person discharging managerial responsibilities has been granted options by
the issuer complete the following boxes

17   Date of grant                    18.  Period during which or date on   
                                           which it can be exercised        
                                                                            
19.  Total amount paid (if any) for   20.  Description of shares or         
     grant of the option                   debentures involved (class and   
                                           number)                          
                                                                            
21.  Exercise price (if fixed at time 22.  Total number of shares or        
     of grant) or indication that          debentures over which options    
     price is to be fixed at the time      held following notification      
     of exercise                                                            
                                                                            
23.  Any additional information       24.  Name of contact and telephone    
     N/A                                   number for queries               
                                           Kevin Mayger - 020 3753 1000     
                                                                            

   

Name and signature of duly authorised officer of issuer responsible for   
making notification                                                       
Kevin Mayger                                                              
Date of notification                                                      
10 June  2015                                                             

Ordinary Shares - Listing Category: Premium - Equity Closed-ended Investment
Funds