De-listing and cancellation of trading

Downing Strategic Micro-Cap Investment Trust plc

LEI Number: 213800QMYPUW4POFFX69

29 August 2025

Downing Strategic Micro-Cap Investment Trust plc (in members' voluntary liquidation) (the "Company")

De-listing and cancellation of trading of the Company's Shares  

Further to the announcement made by the Company on 21 February 2025, the bulk of shareholder value having been realised in advance of the members' voluntary liquidation and returned to Shareholders by a series of special dividends, and the payment of the Initial Distribution to Shareholders on 3 March 2025 of 2.0 pence per Share, the Company today announces that, following an application by the Company, the Financial Conduct Authority has cancelled the listing of the Shares on the Official List and the London Stock Exchange has cancelled the trading of the Shares from the London Stock Exchange's main market for listed securities, in each case with effect from 8.00 a.m. today, 29 August 2025.

Capitalised terms used in this announcement have the meanings given to them in the circular published by the Company on 29 January 2025 (the "Circular") unless the context otherwise requires.

The liquidation of the Company is proceeding as planned and, as set out in the Circular, the Liquidators, with the assistance of the Investment Manager, have been seeking to realise the Company's remaining assets.

The Liquidators are pleased to report that the Company, with the assistance of the Investment Manager, has realised its remaining holding in Centaur Media PLC for net proceeds of approximately £950,000. This represents approximately 2.0 pence per Share.

Shareholders may recall that, at the time of liquidation, the Company's portfolio also consisted of a potential return from a secured loan note in Real Good Food plc.  The Liquidators still expect a recovery in relation to this asset, although the timing and exact quantum of any recovery has yet to be confirmed.

The Liquidators intend to make a further cash distribution to Shareholders by the end of 2025, ideally including the recovery expected on the secured loan note described above.