Result of AGM

Aberforth Smaller Companies Trust plc

Annual General Meeting held on 1 March 2017

The Board of Aberforth Smaller Companies Trust plc (“ASCoT”) hereby report that all the resolutions proposed at the Annual General Meeting held on 1 March 2017 were passed by Shareholders on a show of hands. A total of 42,650,973 proxy votes were received, representing 45.2% of the 94,378,292 Ordinary Shares in issue.

The table below shows the result of the proxy voting:

Resolution	Votes in favour	Votes against	Votes withheld	Total proxy votes
1	42,647,643	1,706	1,624	42,650,973
2	42,634,391	12,617	3,965	42,650,973
3	42,633,638	13,370	3,965	42,650,973
4	42,647,643	1,706	1,624	42,650,973
5	42,645,091	3,308	2,574	42,650,973
6	42,646,354	2,045	2,574	42,650,973
7	42,645,091	3,308	2,574	42,650,973
8	42,645,091	3,308	2,574	42,650,973
9	42,640,140	3,459	7,374	42,650,973
10	42,642,092	6,307	2,574	42,650,973
11	42,645,462	3,887	1,624	42,650,973
12	42,592,689	56,660	1,624	42,650,973
13	42,635,679	13,198	2,096	42,650,973

Contact:

David Holland, Aberforth Partners LLP, Secretaries

Telephone: [phone]

2 March 2017

Legal Entity Identifier (“LEI”):  213800GZ9WC73A92Q326