BlackRock Smaller Companies Trust plc (BRSC) has published its latest total voting rights and capital disclosure, confirming that as at 5 November 2026 its issued share capital comprised 236,993,950 ordinary shares of £0.05 each, excluding shares held in treasury. The update, made in compliance with FCA Disclosure Guidance and Transparency Rules provision 5.6.1, provides the denominator shareholders must use when assessing whether they are required to notify an interest in the Company. With 61,698,655 shares held in treasury, the announcement is a routine but regulatory-critical filing for a London-listed investment trust focused on UK smaller companies.

Key Points

  • BlackRock Smaller Companies Trust plc (BRSC)
  • As at 5 November 2026, the Company's voting share capital stands at 236,993,950 ordinary shares of £0.05 each, excluding treasury shares
  • 61,698,655 shares are currently held in treasury and are excluded from the voting rights denominator
  • Investors holding or acquiring a notifiable interest in BRSC should use 236,993,950 as the denominator for DTR 5 calculations

BRSC Confirms 236,993,950 Ordinary Shares as the DTR 5 Denominator at 5 November 2026

BlackRock Smaller Companies Trust plc has notified the market of its issued capital position in accordance with Article 15 of the Transparency Directive and DTR provision 5.6.1. The Company confirms that 236,993,950 ordinary shares of £0.05 each are in issue as at 5 November 2026, with 61,698,655 shares excluded as they are held in treasury. Shareholders are directed to use the net figure of 236,993,950 as the denominator when calculating whether any change in their holding triggers a mandatory disclosure obligation under the FCA's Transparency Rules.

Role of Treasury Shares in BRSC's Capital Structure

The 61,698,655 shares held in treasury by BlackRock Smaller Companies Trust represent a significant portion of its total share count. Treasury shares carry no voting rights and are excluded from the denominator used for transparency calculations, in line with standard UK regulatory practice. Investment trusts such as BRSC may hold shares in treasury following buybacks, which can be reissued at a later date. The existence of a substantial treasury holding is relevant context for investors monitoring the trust's capital management activity and potential for future share issuance or cancellation.

BlackRock Investment Management's Role and Regulatory Contact for BRSC

The announcement was made on behalf of BlackRock Smaller Companies Trust plc by Graham Venables, Company Secretary, acting through BlackRock Investment Management (UK) Limited, the trust's manager. BlackRock Smaller Companies Trust invests primarily in UK-quoted smaller companies, seeking long-term capital growth. The trust is listed on the London Stock Exchange and operates under a closed-ended investment company structure, making periodic capital disclosures of this kind a standing regulatory requirement under the FCA's Disclosure Guidance and Transparency Rules.