Company Announcements

British Smaller Companies VCT plc ("the Company")

Purchase of Own Securities and Net Asset Value

The Company announces that on 20 March 2020 it purchased 1,252,912 ordinary shares of 10 pence each at a price of 70.40 pence per ordinary share including transaction costs. The shares purchased represent 0.90 per cent of the total number of voting rights in the Company before the transaction. These shares will be held in treasury.

The last reported net asset value as at 31 December 2019 was 76.10 pence per ordinary share. The Company paid a special dividend of 2.0 pence per ordinary share on 20 March 2020 to shareholders on the register on 21 February 2020. Consequently the net asset value of the ordinary shares of 10 pence each at 20 March 2020 is 74.10 pence per ordinary share.

The Company's issued share capital now consists of 137,907,047 ordinary shares of 10 pence each with voting rights. In addition, the Company holds 11,592,990 ordinary shares of 10 pence each in treasury.

The above figure of 137,907,047 ordinary shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

For further information, please contact:

David Hall                                          YFM Private Equity Limited        Tel:  0113 244 1000

Alex Collins                                        Panmure Gordon (UK) Limited  Tel:  0207 886 2767