BlackRock Smaller Companies Trust plc (BRSC) has published its latest total voting rights notification in accordance with the FCA's Disclosure Guidance and Transparency Rules. The announcement confirms that as at 13 November 2026, the Company's issued share capital, excluding treasury shares, stood at 236,683,950 ordinary shares of £0.05 each. This figure serves as the official denominator shareholders must use when calculating whether they are obliged to disclose interests or changes in interests under the Rules. Investors tracking significant shareholding thresholds in the trust should update their calculations accordingly.

Key Points

  • BlackRock Smaller Companies Trust plc (BRSC)
  • The Company has notified the market of its total voting rights figure as at 13 November 2026, in line with DTR 5.6.1 requirements
  • Issued share capital excluding treasury shares: 236,683,950 ordinary shares of £0.05 each; shares held in treasury: 62,008,655
  • Investors should monitor whether any subsequent changes to issued capital or treasury share levels alter the denominator figure in future monthly notifications

BRSC Confirms 236,683,950 Ordinary Shares Excluding 62,008,655 Treasury Shares

The announcement states that BlackRock Smaller Companies Trust's total issued capital as at 13 November 2026 comprised 236,683,950 ordinary shares of £0.05 each, once 62,008,655 shares held in treasury are excluded. The treasury share figure is notable in scale relative to the voting share count, indicating a material proportion of previously issued shares have been bought back and are not currently in circulation. This distinction is important because treasury shares carry no voting rights and are excluded from regulatory denominator calculations under the FCA's Transparency Directive framework.

How Shareholders Must Apply the DTR 5.6.1 Denominator for Disclosure Obligations

Under DTR 5.6.1, companies are required to notify the market of their total voting rights at the end of each calendar month in which a change has occurred, allowing shareholders to determine their notification obligations. The 236,683,950 figure disclosed by BlackRock Smaller Companies Trust is the denominator shareholders must use when assessing whether their proportional interest has crossed a relevant disclosure threshold. Any investor whose holding represents a notifiable percentage of this denominator is required to report that interest to both the Company and the FCA in accordance with the Rules.

BlackRock Investment Management (UK) Limited Administers BRSC as an Investment Trust

BlackRock Smaller Companies Trust is an investment trust managed by BlackRock Investment Management (UK) Limited, one of the UK's largest asset management operations. The trust focuses on UK smaller companies, providing investors with exposure to a segment of the equity market that can offer higher growth potential alongside greater volatility relative to large-cap peers. Company secretarial matters are handled by Graham Venables at BlackRock Investment Management (UK) Limited, as confirmed in the announcement. The trust's shares are listed and traded, making accurate and timely capital disclosures essential for market participants monitoring their regulatory positions.