Director/PDMR Shareholding

Manchester and London Investment Trust plc

Notification of Transactions by Persons Discharging Managerial Responsibilities

and Persons Closely Associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mark Sheppard
2	Reason for the notification
a)	Position/status	PDMR (Investment Manager)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Manchester and London Investment Trust plc
b)	LEI	213800HMBZXULR2EEO10
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of £0.25 each ISIN: GB0002258472
b)	Nature of the transaction	Subscription for Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) £4.7107 651,707
d)	Aggregated information - Aggregated volume - Price	651,707 £3,069,996.16
e)	Date of the transaction	4 December 2018
f)	Place of the transaction	London Stock Exchange (XLON)