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 issuer of existing shares to which voting rights are attached: ii

Pacific Assets Trust plc

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

An acquisition or disposal of voting rights		Yes
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached		No
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments		No
An event changing the breakdown of voting rights		No
Other (please specify):		No

3. Full name of person(s) subject to the notification obligation: iii	Investec Wealth & Investment Limited
4. Full name of shareholder(s)  (if different from 3.):iv	N/A
5. Date of the transaction and date on which the threshold is crossed or reached: v	6 April 2016
6. Date on which issuer notified:	7 April 2016
7. Threshold(s) that is/are crossed or reached: vi, vii	5%

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

Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights	Number of shares	Number of voting rights		% of voting rightsx
			Direct	Direct xi	Indirect xii	Direct	Indirect
Ordinary GB0006674385	5,408,750	5,408,750	6,047,875	6,047,875		5.06%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

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

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

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

Total (A+B+C)

Number of voting rights	Percentage of voting rights
6,047,875	5.06%

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 will cease to hold:	n/a
12. Date on which proxy holder will cease to hold voting rights:	n/a

13. Additional information:	n/a
14. Contact name:	Mark Pope For and on behalf of Frostrow Capital LLP Company Secretary
15. Contact telephone number:	0203 008 4913