Chelverton Small Companies Dividend Trust PLC (the “Company") and Chelverton Small Companies ZDP PLC (“Existing ZDPCo”)

LEIs: 213800DAF47EJ2HT4P78 and 213800OPDNDC5YERVG70

Results of General Meetings

Pursuant to the announcement on 27 November 2017 and following General Meetings of the Company and Existing ZDPCo which were held today, the Company and Existing ZDPCo are pleased to announce all resolutions were passed on a show of hands.

The Company

Resolution 1: to allot C Shares in the capital of the Company up to an aggregate nominal amount of £75 million.

Resolution 2: to allot C Shares for cash pursuant to the authority referred to in resolution 1 above as if section 561 of the Companies Act 2006 (the “Act”) did not apply to any such allotment.

Resolution 3: to allot Ordinary Shares up to an aggregate nominal amount of:

a) £7.5 million pursuant to the Placing Programme (as defined in the Prospectus); and

b) 20 per cent. of the aggregate nominal amount of the issued ordinary share capital of the Company immediately following completion of the Issue.

Resolution 4: to allot ordinary shares and to sell ordinary shares from treasury for cash pursuant to the authority referred to in resolution 3 as if section 561 of the Act did not apply to any such allotment or sale.

Resolution 5: to make market purchases of C Shares, provided that the maximum number of C Shares authorised to be purchased is 14.99 per cent. of the issued C Shares following completion of the Issue.

Resolution 6: to adopt new articles of association of the Company.

Resolution 7: to allot ordinary shares and to sell ordinary shares from treasury for cash pursuant to the authority conferred by resolution 9 passed at the Company’s AGM held on 7 September 2017 as if section 561 of the Act did not apply to any such allotment or sale, subject to, amongst other things, a limit of 10% of the issued ordinary share capital.

Existing ZDPCo

Additionally, at the First General Meeting of Existing ZDPCo the special resolution was duly passed and accordingly the Scheme for the reconstruction and voluntary winding up of the Company was approved and its implementation by the Liquidator was authorised.

A copy of the resolutions of the Company and Existing ZDPCo has been submitted to the National Storage Mechanism, and will shortly be made available for inspection at:  www.morningstar.co.uk/uk/nsm. Details of the proxy votes received can be found the Company’s website www.chelvertonam.com/fund/small-companies-dividend-trust-plc/.

Save for expressions defined in this announcement, words and expressions defined in the Prospectus and Circulars shall have the same meaning in this announcement.

For further information contact

Chelverton Small Companies Dividend Trust PLC

William van Heesewijk

Chelverton Asset Management

+44 20 7222 8989

Stockdale Securities Limited

Robert Finlay / Owen Matthews

+44 20 7601 6115