SVM UK EMERGING FUND PLC

Change of Auditors

SVM UK Emerging Fund plc (“the “Company”) announces that it has appointed Johnston Carmichael LLP (“Johnston Carmichael”) as Auditor to the Company for the financial year ending 31 March 2020. The appointment of Johnston Carmichael for the following financial year is subject to shareholder approval at the next Annual General Meeting of the Company.

Scott-Moncrieff LLP has resigned as the Company's auditor and, in accordance with section 519 of the Companies Act 2006 (“the Act”), has confirmed to the Company that there are no circumstances in connection with its resignation which it considers need to be brought to the attention of the Company's shareholders or creditors.

A shareholder letter and Auditors' statement will shortly be available on the Company's website www.svmonline.co.uk and will be submitted to the National Storage Mechanism for inspection at www.morningstar.co.uk/uk/nsm

The Directors of the Company would like to thank Scott-Moncrieff LLP for the service provided over the past 6 years.

29 January 2020

For further information, please contact Diane Miller (Company Secretary) on 0131 718 5618