BlackRock Smaller Companies Trust plc (BRSC) has announced the purchase of 65,000 of its Ordinary Shares at an average price of 274.00 pence per share, to be held in treasury. The transaction, announced on 11 November 2026, will settle on 13 November 2026. Following settlement, the company's voting share capital will stand at 236,683,950 Ordinary Shares, a figure investors and institutional holders should use for disclosure threshold calculations under FCA rules.

Key Points

  • BlackRock Smaller Companies Trust plc (BRSC)
  • The company purchased 65,000 Ordinary Shares at an average price of 274.00 pence per share to be held in treasury
  • Settlement due 13 November 2026; voting share capital post-settlement: 236,683,950 Ordinary Shares
  • Investors should monitor whether further buyback tranches are announced and how the treasury position evolves

BRSC Purchases 65,000 Shares at 274p to Be Held in Treasury

BlackRock Smaller Companies Trust plc confirmed on 11 November 2026 that it has purchased 65,000 Ordinary Shares at an average price of 274.00 pence per share. The shares will be held in treasury rather than cancelled. BlackRock Smaller Companies Trust is a UK-listed investment trust managed by BlackRock Investment Management (UK) Limited, focusing on smaller UK companies. Treasury buybacks of this nature are a tool commonly used by investment trusts to manage discounts to net asset value, though the company did not state this as a specific rationale in the announcement.

Post-Settlement Share Capital and Treasury Position Following the 13 November 2026 Transaction

Upon settlement on 13 November 2026, the company's total issued share capital will comprise 298,692,605 Ordinary Shares including treasury shares. Of these, 62,008,655 shares will be held in treasury, representing 20.76% of the total issued share capital. The remaining 236,683,950 Ordinary Shares will be in public hands and will carry voting rights. Shares held in treasury carry no voting rights, meaning the effective voting base is reduced following the transaction. This distinction is material for shareholders calculating their proportional voting interest in the company.

FCA Disclosure Obligations: The Correct Figure to Use Is 236,683,950 Shares

The announcement explicitly directs market participants to use 236,683,950 as the relevant figure for disclosure purposes under the FCA's Disclosure Guidance and Transparency Rules, following settlement. Shareholders and institutional investors must exclude treasury shares when assessing whether a notifiable interest threshold has been crossed or when reporting a change in their holding. Using the gross total of 298,692,605 shares — which includes treasury shares — would be incorrect for this purpose. The company's LEI is recorded as 549300MS535KC2WH4082, and all enquiries are directed to Graham Venables, Company Secretary, at BlackRock Investment Management (UK) Limited.