Chelverton Small Companies ZDP Plc - Result of Meeting

Chelverton Small Companies ZDP Plc

Chelverton Small Companies Dividend Trust PLC

SDV 2025 ZDP PLC

LEIs: 213800OPDNDC5YERVG70 and

213800DAF47EJ2HT4P78 and 213800KMX33J3VAJUU95

Scheme effective and cancellation of listing of Existing ZDP Shares

On 24 November 2017, Chelverton Small Companies Dividend Trust PLC (“SDV” or the “Company”) and SDV 2025 ZDP Plc (“2025 ZDPCo”), a wholly-owned subsidiary of SDV, published a prospectus containing details of proposals inter alia, to offer the holders of Existing ZDP Shares the opportunity to elect to roll all or part of their investment in Chelverton Small Companies ZDP PLC (“Existing ZDPCo”) into new 2025 ZDP Shares to be issued by 2025 ZDPCo (the “Scheme”).

On the same date, Existing ZDPCo published a circular to holders of Existing ZDP Shares containing details of the Scheme and notices of the general meetings convened to approve the Scheme and to put Existing ZDPCo into members’ voluntary liquidation.

Resolutions Passed

Further to the announcement made on 19 December 2017 the board of the Company is pleased to announce that at the second general meeting of Existing ZDPCo held today Special Resolution 1 was passed and accordingly the Scheme has become effective and Existing ZDPCo is now in liquidation. Following the general meeting of Existing ZDPCo, 2025 ZDPCo entered into the Transfer Agreement with the liquidator of Existing ZDPCo (in his personal capacity and on behalf of Existing ZDPCo), pursuant to which the undertaking and assets of Existing ZDPCo which form the Rollover Fund will be transferred to 2025 ZDPCo in consideration for the issue of ordinary shares to the Company and ZDP Shares to holders of Existing ZDP Shares in accordance with the provisions of the Scheme.

Cancellation of Listing of Existing ZDP Shares

Following the Scheme becoming effective Existing ZDPCo has applied to the United Kingdom Listing Authority ("UKLA") to cancel the standard listing of the Existing ZDP Shares from the Official List of the UKLA and the cancellation of trading in the Existing ZDP Shares on the Main Market of the London Stock Exchange. Cancellation is expected to become effective at 8.00am on 8 January 2018.

Terms used and not defined in this announcement bear the meaning given to them in the Prospectus dated 24 November 2017.

For further information please contact:

Chelverton Small Companies Dividend Trust PLC

William van Heesewijk

Chelverton Asset Management

[phone]

Stockdale Securities Limited

Robert Finlay / Owen Matthews

[phone]

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