The European Smaller Companies Trust plc Tender Offer Assented Line

The European Smaller Companies Trust PLC is a United Kingdom-based investment company. The Company's investment objective is to seek capital growth by investing in smaller and medium sized companies which are quoted, domiciled, listed or have operations in Europe (excluding the United Kingdom). The Company maintains a diversified portfolio and shall not invest more than 7% of its total assets in any holdings. The Company invests approximately 15% of its gross assets in investment companies, including listed investment trusts. The Company invests in equities and other investments for the long term to secure its investment objective. It invests in a various sector, such as industrials, consumer discretionary, consumer staples, financials, technology, utilities, health care, energy, telecommunications, real estate and basic materials. The Company’s alternative investment fund manager is Janus Henderson Fund Management UK Limited.