European Smaller Companies Trust PLC

Major Shareholding Notification • Dec 20, 2023

National Storage Mechanism | Additional information

RNS Number : 5023X

European Smaller Companies Tst PLC

20 December 2023

TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

GB00BMCF8689

Issuer Name

THE EUROPEAN SMALLER COMPANIES TRUST PLC

UK or Non-UK Issuer

UK

1. Reason for Notification

An acquisition or disposal of voting rights; An acquisition or disposal of financial instruments

1. Details of person subject to the notification obligation

Name

Saba Capital Management, L.P.

City of registered office (if applicable)

New York

Country of registered office (if applicable)

United States

1. Details of the shareholder

Name	City of registered office	Country of registered office
Saba Capital CEF Special   Opportunities Master Fund 2, Ltd		Cayman Islands
Saba Capital Arcadia Master Fund,  Ltd.		Cayman Islands
Saba Capital Bluebird Fund, Ltd		Cayman Islands
Saba Capital Income &  Opportunities Fund		United States
Saba Capital R Fund, Ltd		Cayman Islands
Saba Capital Master Fund, Ltd		Cayman Islands

1. Date on which the threshold was crossed or reached

14-Dec-2023

1. Date on which Issuer notified

18-Dec-2023

1. Total positions of person(s) subject to the notification obligation

.	% of voting rights attached to shares (total of 8.A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)	Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached	0.418100	4.633000	5.051100	20220072
Position of previous notification (if applicable)

1. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

Class/Type of shares ISIN code(if possible)	Number of direct voting rights (DTR5.1)	Number of indirect voting rights (DTR5.2.1)	% of direct voting rights (DTR5.1)	% of indirect voting rights (DTR5.2.1)
GB00BMCF8689	1673858	0	0.418100	0.000000
Sub Total 8.A	1673858		0.418100%

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

Type of financial instrument	Expiration date	Exercise/conversion period	Number of voting rights that may be acquired if the instrument is exercised/converted	% of voting rights
Sub Total 8.B1

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

Type of financial instrument	Expiration date	Exercise/conversion period	Physical or cash settlement	Number of voting rights	% of voting rights
Total Return Swap	08/17/2024		Cash	18546214	4.633000
Sub Total 8.B2				18546214	4.633000%

1. Information in relation to the person subject to the notification obligation

2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the

ultimate controlling natural person or legal entities (please add additional rows as necessary)

Ultimate controlling person	Name of controlled undertaking	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
Boaz Weinstein	Saba Capital Management GP, LLC
Saba Capital Management GP, LLC	Saba Capital  Management, LP			5.051100%

1. In case of proxy voting

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

1. Additional Information

1. Date of Completion

18-Dec-2023

1. Place Of Completion

New York, NY

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