Director/PDMR Shareholding

North Atlantic Smlr Co Inv Tst PLC
09 October 2006


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)      An issuer making a notification in respect of a transaction relating to the shares or debentures
         of the issuer should complete boxes 1 to 16, 23 and 24.
(2)      An issuer making a notification in respect of a derivative relating to the shares of the issuer
         should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.
(3)      An issuer making a notification in respect of options granted to a director/person discharging
         managerial responsibilities should complete boxes 1 to 3 and 17 to 24.
(4)      An issuer making a notification in respect of a financial instrument relating to the shares of
         the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and
         24.



Please complete all relevant boxes in block capital letters.



1. Name of the issuer

NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC



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)

BOTH



3. Name of person discharging managerial responsibilities/director

CHRISTOPHER HARWOOD BERNARD MILLS



4. State whether notification relates to a person connected with a person
discharging managerial responsibilities/director named in 3 and identify the
connected person

Director and connected persons -

Wife - L Mills

Children - N Mills and H Mills



5. Indicate whether the notification is in respect of a holding of the person
referred to in 3 or 4 above or in respect of a non-beneficial interest

Non-Beneficial



6. Description of shares (including class), debentures or derivatives or
financial instruments relating to shares

Ordinary Shares of 5p each



7. Name of registered shareholders(s) and, if more than one, the number of
shares held by each of them

Bank of New York (Nominees) Limited



8 State the nature of the transaction

One of Mr Mills' children, Charles Mills, reached the age of eighteen on 3
September 2006.  Therefore his holding of 20,500 shares,

previously included as a Non-Beneficial holding within Mr Mills' total holdings,
is no longer included within the total number of shares

which Mr Mills is interested in.



9. Number of shares, debentures or financial instruments relating to shares
acquired

N/A....................................



10. Percentage of issued class acquired (treasury shares of that class should
not be taken into account when calculating percentage)



......N/A..............................



11. Number of shares, debentures or financial instruments relating to shares
disposed

20,500 shares



12. Percentage of issued class disposed (treasury shares of that class should
not be taken into account when calculating percentage)

Negligible



13. Price per share or value of transaction

N/A



14. Date and place of transaction

As at 3 September 2006, London



15. Total holding following notification and total percentage holding following
notification (any treasury shares should not be taken into account when
calculating percentage)

2,650,399 ORDINARY SHARES (19.23%)

35,000 UNITS OF UNSECURED LOAN STOCK 2013



16. Date issuer informed of transaction

9 October 2006



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 grant of the option



....................................



20. Description of shares or debentures involved (class and number)



....................................

....................................



21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at the time of exercise



....................................



22. Total number of shares or debentures over which options held following
notification



....................................



23. Any additional information



....................................



24. Name of contact and telephone number for queries

Bonita Guntrip 0207 747 5681

Name and signature of duly authorised officer of issuer responsible for making
notification

For and on behalf of J O Hambro Capital Management Limited as Company Secretary
of North Atlantic Smaller Companies Investment Trust PLC

Bonita Guntrip, Client Company Secretary

Date of notification

9 October 2006

END


                      This information is provided by RNS
            The company news service from the London Stock Exchange