Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES                                
                                                                              
1. Identity of the issuer or the underlying issuer of        Small Companies  
existing shares to which voting rights are attached:       Dividend 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                                                                  
                                                                              
                                                                              
                                                                              
An acquisition or disposal of instruments with similar economic effect to     
qualifying financial instruments                                              
                                                                              
                                                                              
                                                                              
An event changing the breakdown of voting rights                              
                                                                              
                                                                              
                                                                              
Other (please specify):                                                       
                                                                              
 
3. Full name of person(s) subject to the     Funds under the management of    
notification obligation:                     Midas Investment Management Ltd  
                                                                              
                                                                              
                                                                              
4. Full name of shareholder(s) (if different Pershing Nominees Ltd <MDCLT>    
from 3.):                                    (1,246,513 shares)               
                                                                              
                                             Pershing Nominees Ltd <MDISA>    
                                             (563,557 shares)                 
                                                                              
                                                                              
                                                                              
5. Date of the transaction and date on which           30 April 2012          
the threshold is crossed or reached:                                          
                                                                              
                                                                          
                                                                              
6. Date on which issuer notified:                      30 April 2012          
                                                                              
                             
                                                                              
7. Threshold(s) that is/are crossed or                  11 per cent           
reached:                                                                      
                                                                              

8. Notified details:                                                          
                                                                              
A: Voting rights attached to shares                                           
                                                                              
                                                                              
                                                                              
Class/type of Situation previous  Resulting situation after the triggering    
shares        to the triggering   transaction                                 
              transaction                                                     
                                                                              
if possible   Number    Number    Number    Number of voting % of  voting     
using         of        of        of shares rights           rights           
the ISIN CODE Shares    Voting                                                
                        Rights    Direct    Direct Indirect  Direct  Indirect 
                                                                              
GB0006615826  1,760,070 1,760,070 1,810,070        1,810,070         11.14%   
                                                                              

 

B: Qualifying Financial Instruments                                           
                                                                              
Resulting situation after the triggering transaction                          
                                                                              
                                                                              
                                                                              
Type of financial  Expiration  Exercise/   Number of voting       % of voting 
instrument         date        Conversion  rights that may be     rights      
                               Period      acquired if the                    
                                           instrument is                      
                                           exercised/ converted.              
                                                                              
 

C: Financial Instruments with similar economic effect to Qualifying Financial 
Instruments                                                                   
                                                                              
Resulting situation after the triggering transaction                          
                                                                              
                                                                              
                                                                              
Type of         Exercise Expiration Exercise/  Number of       % of voting    
financial       price    date       Conversion voting          rights         
instrument                          period     rights                         
                                               instrument                     
                                               refers to                      
                                                                              
                                                               Nominal  Delta 
                                                                              

Total (A+B+C)                                                                 
                                                                              
                                                                              
                                                                              
Number of voting rights             Percentage of voting rights               
                                                                              
1,810,070                           11.14%                                    
                                                                              


9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:                    
                                                                              
    

Proxy Voting:                                                                 
                                                                              
                                                                              
                                                                              
10. Name of the proxy holder:                                                 
                                                                              
                                                                              
                                                                              
11. Number of voting rights proxy holder will cease to hold:                  
                                                                              
                                                                              
                                                                              
12. Date on which proxy holder will cease to hold voting rights:              
                                                                              
13.           With regard to the holdings disclosed under part 4 of this      
Additional    announcement, the following should be noted in relation to the  
information:  shares held under Pershing Nominees Ltd:                        
                                                                              
                                                                              
                                                                              
              Purchased, undelivered and pre-settlement date:                 
                                                                              
              33,176 shares                                                   
                                                                              
                                                                              
                                                                              
              Purchased, undelivered and pre-settlement date:                 
                                                                              
              50,000 shares                                                   
                                                                              
                                                                              
                                                                              
14. Contact   David Rodrigues                                                 
name:                                                                         
                                                                              
                                                                                                          
15. Contact   0161 228 1709                                                   
telephone                                                                     
number: