Montanaro European Smaller Companies Trust Plc

LEI: 213800CWSC5B8BG3RS21

Issue of Equity

16 August 2021

Montanaro European Smaller Companies Trust Plc (the "Company") has issued 10,000 new ordinary shares of 50 pence each under its block listing facility at a price of 2008p per share on 16 August 2021.  The new shares rank pari passu with the existing ordinary shares in issue.

Following this issue, the Company's issued share capital consists of 17,618,260 ordinary shares. No shares are held in treasury.  Accordingly, the total number of voting rights in the Company is 17,618,260.

The above figure 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

All Enquiries:

Montanaro Asset Management Ltd 

T: +44 20 7448 8600