TIDMASL 
 
Aberforth Smaller Companies Trust plc ("ASCOT") 
 
The Net Asset Values ("NAVs") per Ordinary Share for the above company as at 
the close of business on 15 December 2014 were:- 
 
Excluding current year Revenue = 1,099.38p 
 
Including ALL Revenue = 1,118.58p 
 
ASCOT has bank debt facilities available to allow gearing of up to 11.7% of 
Shareholders' Funds. Current gearing is 2.9%. There are currently 95,344,792 
Ordinary Shares of 1p in issue. 
 
Contact - David Holland (Tel: 0131 220 0733) 
 
Aberforth Partners LLP, Secretaries - 16 December 2014 
 
 
 
END 
 

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