British Smaller Companies VCT plc ("the Company")

Purchase of Own Securities and Net Asset Value

The Company announces that on 28 March 2023 it purchased 1,220,600 ordinary shares of 10 pence each at a price of 79.16 pence per ordinary share including transaction costs. The shares purchased represent 0.65 per cent of the total number of voting rights in the Company before the transaction. These shares will be held in treasury.

The last reported net asset value as at 31 December 2022 was 87.3 pence per ordinary share. The Company paid a special dividend of 4.5 pence per ordinary share on 11 January 2023 to shareholders on the register as at 18 November 2022. Consequently, the adjusted last reported net asset value of the ordinary shares of 10 pence each is 82.8 pence per ordinary share.

The Company's issued share capital now consists of 187,679,279 ordinary shares of 10 pence each with voting rights. In addition, the Company holds 22,007,765 ordinary shares of 10 pence each in treasury.

The above figure of 187,679,279 ordinary shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

For further information, please contact:

David Hall                                          YFM Private Equity Limited        Tel:  0113 244 1000

Alex Collins                                        Panmure Gordon (UK) Limited  Tel:  0207 886 2767