Director/PDMR Shareholding

1.

Details of the person discharging managerial responsibilities / persons closely associated

a)

Name

Nicholas Smith

2.

Reason for the notification

a)

Position / Status

Director

b)

Initial notification/ Amendment

Initial Notification

3.

Details of the issuer

a)

Name

JPMorgan European Smaller Companies Trust plc

b)

Legal Identifier Code

54930049CEWDI46Y3U28

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument Identification code

Ordinary shares of 5p each

ISIN: GB00BMTS0Z37

b)

Nature of the Transaction

Sale and Acquisition of shares

c)

Price and Volume

Price

Volume

£2.71

£2.714

7,200 sold

7,200 bought

d)

Aggregated information

- Aggregated price

- Price

N/A single transaction

e)

Date of transaction

7th April 2020

f)

Place of transaction

London Stock Exchange XLON

g)

Holding after transaction

11,600