Source - LSE Regulatory
ABERFORTH SMALLER COMPANIES TRUST plc ('ASCoT') Net Asset Values ('NAVs') per Ordinary Share for the above company - calculated using a bid pricing basis for the securities held on the company's portfolio - as at the close of business on 7 February 2008 were:- Excluding Current Year Revenue = 668.05p Including ALL Revenue = 668.76p Following HMRC's announcement of their decision to withdraw their appeal on the JPMorgan Fleming Claverhouse case, the net assets include #4.7m being the estimated expected repayment of all VAT paid on investment management fees since 1 January 2001, agreement having been reached between the Company and its Managers that ASCoT will receive a refund of all VAT paid on investment management fees since 1 January 2001 including VAT previously offset by the Managers. Certain VAT paid in relation to earlier periods may also be recoverable pending the outcome of further legal appeals. As at 7 February 2008, ASCoT held 101 investments, the largest of which represented 3.4% of investable assets. The market value of investments was #642.4m and total Shareholders' Funds were #660.8m. Details of the top 50 holdings, the portfolio's sectoral composition and other general information can be found on the Aberforth website at http://www.aberforth.co.uk. ASCoT has bank debt facilities available to allow gearing of up to 12.1% of Shareholders' Funds. Current gearing is 0.0%. The number of Ordinary Shares of 1p currently in issue is 98,809,788. Dividends are paid, semi-annually, to Ordinary Shareholders with the first interim announced each July and paid in September and the second interim announced each January and paid in February. Contact - David Holland (Tel: 0131 220 0733) Aberforth Partners LLP, Secretaries - 8 February 2008 ANNOUNCEMENT ENDS
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