BlackRock Smaller Companies Trust plc (BRSC) has announced the purchase of 80,000 of its Ordinary Shares at an average price of 274.50 pence per share, to be held in treasury. The transaction was disclosed on 3 November 2026, with settlement due on 5 November 2026. Following settlement, the number of voting shares in issue will fall to 236,993,950, a figure investors and shareholders must use for regulatory notification purposes under FCA rules.

Key Points

  • BlackRock Smaller Companies Trust plc (BRSC)
  • The Company purchased 80,000 Ordinary Shares at an average price of 274.50 pence per share to be held in treasury
  • Settlement is due on 5 November 2026; voting share capital will stand at 236,993,950 following settlement
  • Investors should watch for further buyback activity and any movement in the treasury share proportion, which will stand at 20.66% post-settlement

BRSC Purchases 80,000 Ordinary Shares at Average 274.50p to Be Held in Treasury

BlackRock Smaller Companies Trust plc confirmed on 3 November 2026 that it has purchased 80,000 Ordinary Shares at an average price of 274.50 pence per share. The shares will be held in treasury rather than cancelled, which is a common mechanism used by investment trusts to manage their share capital. Treasury shares do not carry voting rights and are excluded from the total voting share count for regulatory reporting purposes. The total cost of the buyback was not separately disclosed beyond the average price per share provided in the announcement.

Post-Settlement Voting Share Capital Falls to 236,993,950 Ordinary Shares

Following settlement on 5 November 2026, the Company's issued share capital, excluding treasury shares, will stand at 236,993,950 Ordinary Shares. This is the figure that the FCA's Disclosure Guidance and Transparency Rules require market participants to use when assessing whether they must notify an interest, or a change to an interest, in the Company. The total issued share capital including treasury shares is 298,692,605 Ordinary Shares, meaning treasury shares will represent 20.66% of the overall total after settlement of this transaction.

Treasury Share Holdings and FCA Reporting Obligations for BRSC Investors

Shareholders and institutional investors holding positions in BlackRock Smaller Companies Trust are reminded that the relevant denominator for FCA transparency reporting following this transaction is 236,993,950, not the gross total that includes treasury shares. With 61,698,655 shares now held in treasury post-settlement, investors monitoring their percentage threshold obligations under the Disclosure Guidance and Transparency Rules should update their calculations accordingly. Failure to use the correct voting share figure could affect compliance with notification thresholds set out in those rules.

BlackRock Smaller Companies Trust's Ongoing Use of Buybacks to Manage Capital

BlackRock Smaller Companies Trust is a closed-ended investment company managed by BlackRock Investment Management (UK) Limited, focused on investing in smaller UK-quoted companies. Share buybacks into treasury are a standard tool used by investment trusts to address discount management and capital efficiency. The Company's secretary, Graham Venables of BlackRock Investment Management (UK) Limited, is named as the point of contact for enquiries relating to this announcement. Investors may be watching for further buyback announcements as the trust continues its capital management activity.