BlackRock Smaller Companies Trust plc Reports Voting Rights and Share Capital Details as of 27 July 2026

Investment Trust Structure and Share Capital Composition

BlackRock Smaller Companies Trust plc operates as a closed-ended investment trust regulated by the FCA, focusing on investments in smaller companies. It issues ordinary shares to investors and manages a diversified portfolio aimed at capturing growth opportunities in this market segment. The trust structure offers investors professional management and diversification benefits, although smaller company equities typically involve higher volatility compared to larger-cap stocks.

The trust maintains treasury shares as part of its capital management strategy, holding 54,388,655 shares in treasury. These shares are excluded from the issued share capital used to calculate voting rights and shareholding percentages. Treasury shares provide flexibility for corporate actions such as share option schemes or capital returns. The nominal value of a30.05 per share aligns with standard UK investment trust denominations.

FCA Regulatory Disclosure Obligations Under Transparency Directive

In compliance with FCA Disclosure Guidance and Transparency Rules provision 5.6.1, implementing Article 15 of the Transparency Directive, BlackRock Smaller Companies Trust plc has reported its total voting rights and shares in issue as of 27 July 2026. This mandatory disclosure ensures transparency and equal access to information about the company's capital structure for all market participants.

Accurate and timely reporting enables investors to determine if their voting rights cross notification thresholds set by FCA rules. The disclosed figure excludes treasury shares, providing the definitive denominator for calculating shareholding percentages. Shareholders must notify the company and FCA when their voting interest reaches, exceeds, or falls below specified thresholds such as 3%, 5%, and higher levels.

Issued Share Capital Excluding Treasury Shares

The company confirmed its issued share capital, excluding treasury shares, stands at 244,303,950 ordinary shares with a nominal value of a30.05 each, equating to approximately a312.2 million in nominal capital. This figure is essential for shareholders to accurately calculate their ownership percentage and comply with notification requirements under the Transparency Rules. The company emphasized using this exact figure for all threshold calculations.

The treasury shareholding of 54,388,655 shares, representing roughly 18.2% of total share capital including treasury, does not carry voting rights and is excluded from public issued share capital. This sizeable treasury reserve indicates the trust's engagement in share buyback programs, a common practice among investment trusts to support share price and manage capital structure.

Impact on Shareholder Notification Thresholds

Shareholders must base their voting rights calculations on the 244,303,950 issued shares figure to determine if they have crossed FCA notification thresholds, including 3%, 5%, 10%, 15%, 20%, 25%, 30%, 50%, 75%, and 90%. Non-compliance with notification requirements can lead to regulatory penalties, making precise calculations critical.

Investors building or adjusting positions in BlackRock Smaller Companies Trust plc should monitor their holdings against this denominator. The company has provided contact details for enquiries, with Graham Venables, Company Secretary at BlackRock Investment Management (UK) Limited, designated as the primary contact for shareholder questions related to voting rights and corporate governance.

Treasury Shares and Capital Management Strategy

The trust's holding of 54,388,655 treasury shares reflects strategic capital management, commonly involving share repurchases when shares trade below net asset value (NAV). Treasury shares offer flexibility for future corporate actions such as employee incentives or capital returns without requiring new share issuance or shareholder approval.

While treasury shares do not generate returns or voting rights, they provide the trust with optionality for managing its capital structure efficiently and responding to market conditions. The trust may hold, cancel, or reissue these shares as deemed appropriate.

Focus on Smaller Company Equity Investments

BlackRock Smaller Companies Trust plc targets the UK smaller companies sector, which typically includes firms outside the FTSE 100 and FTSE 250 indices. This segment offers higher growth potential but also increased volatility and liquidity risks compared to large-cap stocks. The trust provides investors with professionally managed exposure to this niche, capitalizing on growth opportunities and market inefficiencies.

The trust's strategy supports diversification beyond large-cap holdings, appealing to investors seeking to benefit from the unique dynamics of smaller companies. However, investors should be aware of the inherent risks, including sector concentration and governance challenges in smaller enterprises.

Investor Contact and Information Access

For further information or clarification regarding voting rights disclosure or other corporate matters, shareholders can contact Graham Venables, Company Secretary at BlackRock Investment Management (UK) Limited. This direct line of communication exemplifies the trust's commitment to transparency and effective investor relations.

BlackRock Investment Management (UK) Limited's role in managing the trust ensures robust administrative and regulatory support, backed by one of the world's largest asset managers. This infrastructure provides shareholders confidence in the trust's compliance and operational standards.

Compliance with Transparency Directive and Regulatory Standards

This announcement demonstrates BlackRock Smaller Companies Trust plc's adherence to UK and EU-derived transparency regulations, ensuring investors receive timely and accurate information on capital structure and ownership. Such transparency supports market integrity, investor protection, and informed decision-making.

The company's prompt and precise disclosure as of 27 July 2026 reflects its commitment to regulatory compliance and good governance. Investors can rely on these disclosures for accurate shareholding calculations and market transparency.

Ongoing Shareholder Communications and Historical Disclosures

Regular updates on voting rights and issued share capital form an integral part of BlackRock Smaller Companies Trust plc's shareholder communications. The company is expected to continue issuing such disclosures in response to material capital structure changes or regulatory requirements.

Investors should note that disclosed figures represent a snapshot in time and may change with future share issuances, buybacks, or other capital transactions. The trust's management, supported by BlackRock Investment Management (UK) Limited, will continue to actively manage capital structure to optimize shareholder value.