Holding(s) in Company

For filings with the FCA include the annex                                              
                                                                                        
For filings with issuer exclude the annex                                               

   

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi                                         

   

1. Identity of the issuer or the underlying              Pacific Assets Trust plc        
issuer of existing shares to which voting rights                                         
are attached: ii                                                                         

   

2 Reason for the notification (please tick the appropriate box or boxes):               

   

An acquisition or disposal of voting rights                                         No    
                                                                                          
An acquisition or disposal of qualifying financial instruments which may result     No    
in the acquisition of shares already issued to which voting rights are attached           
                                                                                          
An acquisition or disposal of instruments with similar economic effect to           No    
qualifying financial instruments                                                          
                                                                                          
An event changing the breakdown of voting rights                                    No    
                                                                                          
Other (please          CHANGE IN OUR TERMS & CONDITIONS RESTRICTING THE EXERCISE    Yes   
specify):              OF VOTING RIGHTS TO DISCRETIONARY CLIENT HOLDING                   
                                                                                          

   

3. Full name of person(s) subject to the        Investec Wealth & Investment Limited     
notification obligation: iii                                                             
                                                                                         
4. Full name of shareholder(s)  (if                             N/A                      
different from 3.):iv                                                                    
                                                                                         
5. Date of the transaction and date on                      1 June 2015                  
which the threshold is crossed or reached:                                               
v                                                                                        
                                                                                         
6. Date on which issuer notified:                           2 June 2015                  
                                                                                         
7. Threshold(s) that is/are crossed or                           3%                      
reached: vi, vii                                                                         

8. Notified details:
A: Voting rights attached to shares viii, ix

Class/type of     Situation previous                 Resulting situation after               
shares             to the triggering                       the triggering                    
                      transaction                           transaction                      
                                                                                             
if possible                   Number                     Number             % of voting      
using              Number       of       Number            of                 rights x       
the ISIN CODE        of       Voting       of            voting                              
                   Shares     Rights     shares          rights                              
                                                                                             
                                         Direct   Direct xi  Indirect    Direct    Indirect  
                                                                xii                          
                                                                                             
     Ordinary    4,464,538  4,464,538  3,897,180  3,897,180              3.34%               
GB000667438                                                                                  

   

B: Qualifying Financial Instruments                                                     
                                                                                        
Resulting situation after the triggering transaction                                    

   

  Type of financial   Expiration      Exercise/        Number of voting      % of voting   
     instrument       date xiii   Conversion Period   rights that may be        rights     
                                         xiv            acquired if the                    
                                                         instrument is                     
                                                     exercised/ converted.                 
                                                                                           
                                                                                           

   

C: Financial Instruments with similar economic effect to Qualifying Financial           
Instruments xv, xvi                                                                     
                                                                                        
Resulting situation after the triggering transaction                                    

   

Type of financial  Exercise  Expiration  Exercise/     Number of voting        % of voting    
   instrument       price    date xvii  Conversion    rights instrument      rights xix, xx   
                                          period          refers to                           
                                           xviii                                              
                                                                                              
                                                                            Nominal    Delta  
                                                                                              
                                                                                              

   

Total (A+B+C)                                                                           

   

          Number of voting rights                    Percentage of voting rights         
                                                                                         
                 3,897,180                                      3.34%                    

   

9. Chain of controlled undertakings through which the voting rights and/or the          
financial instruments are effectively held, if applicable: xxi                          
                                                                                        
Discretionary client holdings registered in the name of Nominee companies 100%          
owned by Investec  Wealth & Investment Limited                                          

   

Proxy Voting:                                                                            
                                                                                         
10. Name of the proxy holder:                                    n/a                     
                                                                                         
11. Number of voting rights proxy holder                         n/a                     
will cease to hold:                                                                      
                                                                                         
12. Date on which proxy holder will cease                        n/a                     
to hold voting rights:                                                                   

   

13. Additional information:                                      n/a                     
                                                                                         
14. Contact name:                                             Mark Pope                  
                                               For and Behalf of Frostrow Capital LLP    
                                                          Company Secretary              
                                                                                         
15. Contact telephone number:                              020 3 008 4913