DSM: Net Asset Value(s) and Portfolio

Downing Strategic Micro-Cap Investment Trust Plc
LEI Code: 213800QMYPUW4POFFX69
Net Asset Values
The Company announces the following, all of which is unaudited:
Total Assets - including current period revenue* at 31 March 2023		£37.45m
Net Assets - including current period revenue* at 31 March 2023		£37.45m
Number of shares in issue (excluding treasury):		48,686,596
The Net Asset Value (NAV) per share at 31 March 2023 was:
Per Ordinary share (bid price) - including current period revenue*		76.93p
Per Ordinary share (bid price) - excluding current period revenue*		76.93p
Ordinary share price		63.00p
Premium/(Discount) to NAV (including current period revenue)		(18.11%)
* Current period revenue covers the period 01/03/2022 to 31/03/2023 and includes undistributed revenue in respect of that period.
Portfolio summary:		% of portfolio
1	Real Good Food Plc (Loan Notes, including accrued interest)	10.54%
2	Centaur Media Plc	8.59%
3	Hargreaves Services Plc	8.27%
4	Flowtech Fluidpower Plc	7.55%
5	Ramsdens Holdings Plc	6.79%
6	Adept Technology Group Plc	6.52%
7	Synectics Plc	5.64%
8	Fireangel Safety Technology Plc	5.22%
9	National World Plc	5.20%
10	DigitalBox plc	4.76%
11	Journeo plc	4.65%
12	Equals Group Plc	4.28%
13	Volex Plc	4.25%
14	Inspecs Group plc	4.23%
15	OnTheMarket plc	3.92%
16	Cash and other net current assets	3.42%
17	Theworks.co.uk Plc	2.47%
18	Tactus Holdings Limited	2.03%
19	Norman Broadbent Plc	1.47%
20	Real Good Food Company Plc	0.20%
	Total	100.00%