Company Announcements

British Smaller Companies VCT plc (the "Company")

Payment of Special Dividend

The Company announces that on 20 March 2020 it paid a special dividend for the year ending 31 March 2020 of 2.0 pence per ordinary share to shareholders on the register of members of the Company as at the record date of 21 February 2020 ("Special Dividend").

The Company further confirms that due to the current market conditions it has temporarily suspended its dividend re-investment scheme ("DRIS") and as a consequence all shareholders will now receive a cash payment in relation to the Special Dividend. Those shareholders who elected to be allotted shares under the DRIS will receive their entitlement on or around 3 April 2020, the date on which dealings in those shares on the London Stock Exchange's Main Market for listed securities were expected to commence.

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