ZDP share 8,500,000 , ZDP shares are held in a subsidiary and have a redemption date of 8 January 2018

The Company’s investment manager is Chelverton Asset Management Limited.

Nice to see a thread on these, I've held them since June 2011 @99p and mentioned them on the chart thread a couple of times.

Unfortunately there doesn't seem much interest for this sort of investment on this site.

Current yield @3.9%.

Half-yearly Report

Net Asset Value(s)

The Company announces:

Total Assets (including unaudited revenue reserves at 13 December 2013)
of £38.74m

Net Assets (including unaudited revenue reserves at 13 December 2013) of
£29.58m

The Net Asset Value (NAV) at 13 December 2013 was:

Number of shares
in issue
Per Ordinary share (bid price) - including
unaudited current period revenue* 182.00p 16,250,000
Per Ordinary share (bid price) - excluding
current period revenue* 177.97p
Ordinary share price 172.25p
Discount to NAV (5.36)%
Ordinary shares have an undated life

ZDP share 107.84p 8,500,000
ZDP shares are held in a subsidiary and have a redemption date
of 8 January 2018

*Current period revenue covers the period 01 May 2013 to 13 December 2013

TOP HOLDINGS
1 Jarvis Securities 2.58
2 Avesco Group 2.58
3 Randall & Quilter 2.51
4 Chesnara 2.48
5 Wilmington Group 2.47
6 Smiths News 2.43
7 Braemar Shipping 2.38
8 Marshalls 2.27
9 St Ives 2.22
10 Personal Group 2.15
11 Photo-Me International 2.14
12 ISG 2.03
13 Clarke (T) 1.98
14 Cineworld Group 1.96
15 Alumasc Group 1.95
16 Morgan Sindall 1.94
17 Kier Group 1.89
18 Dairy Crest Group 1.88
19 S & U 1.82
20 GVC Holdings 1.82

Also worth looking at: SIV

Skinny can you buy these with I G Index?, cant seem to find them.

No - nor CMC - - buy the real thing you tight wad!

Net Asset Values release yesterday.

The Company announces:

Total Assets (including unaudited revenue reserves at 31 December 2013)of £38.96m

Net Assets (including unaudited revenue reserves at 31 December 2013) of £29.77m

The Net Asset Value (NAV) at 31 December 2013 was:

Number of shares
in issue
Per Ordinary share (bid price) - including
unaudited current period revenue* 183.20p 16,250,000
Per Ordinary share (bid price) - excluding
current period revenue* 180.52p
Ordinary share price 176.00p
Discount to NAV (3.93)%
Ordinary shares have an undated life

ZDP share 108.15p 8,500,000
ZDP shares are held in a subsidiary and have a redemption date
of 8 January 2018

*Current period revenue covers the period 01 May 2013 to 31 December 2013

OK ill have to use my slush fund with C Stanleys.

Small Co. Div. Tst Issue of new Ordinary Shares - Update

This announcement follows that made by the Company to the market on 14 January
2014, whereby the Directors of Small Companies Dividend Trust PLC ("SCD Trust")
announced the issue of 300,000 new Ordinary Shares ranking pari passu in all
respects with the Ordinary Shares already in issue at an issue price of 189.5p
per Ordinary Share.

The New Shares are being issued for cash in order to meet investor demand.

The new Ordinary Shares have been allotted by SCD Trust, subject to admission
to Listing and to dealings on the London Stock Exchange ("Admission").
Admission has been applied for and dealings in the new Ordinary Shares are
expected to commence at 8.00am on 17 January 2014.

The total number of Ordinary shares in issue following Admission will be
16,550,000.

The additional cash raised will be invested in SCD Trust's portfolio.

Enquiries:

Small Companies Dividend Trust PLC
William van Heesewijk
Chelverton Asset Management Investment Limited
Tel: 020 7222 8989



END

How many did you buy skinny. cheers

None for me - I'm quite happy with my long term holding - you?

HOW LONG IS LONG TERM, THINGS ARE GOING TOO FAST, I AM GETTING TO OLD ITS TIME TO SPEND IT.CHEERS.

See post 2 above "I've held them since June 2011 @99p " - they are in my SIPP.

2010 82p also in isa 2012.2013 2014

As I've said before - its unfortunate that there doesn't seem much interest on this site for 'boring yielders with growth potential'.

I've mentioned a few over the years - but its very much a case of 'some they fell on stony ground'.

Chelverton UK Equity Income
Retail Income , AND Cenkos Securities plc (CNKS) NICE DIVI .

SVM UK Emerging Fund Plc (SVM) very small. 61p buy nav 72p no divi

Thanks - I'll have a look.

CNKS - I dithered around a quid and never bought in the end!


PEW,RECI,RECP,JLIF,HICL,SREI.

like Infrastructure Company HICL. HOLD SREI ISA MAY 2013 GREAT DIVI

I've had SREI since Oct 2012 - probably a similar price to you and HICL since May 2011.


From memory, Partridge is another poster who likes similar value shares.

A painful correction this morning.

presumably tracking the market, good spread of investments and good dividend.

Looks a good long term hold imo. Only have two of their last published top 20 (Marshalls and T Clarke) but they have a decent spread. In over 40 years activity personally, evidence is clear to me that it is best to stick with well established, good quality companies (especially if you can find one going through a short term rough patch!) for the long term, rather than try to spot the next big thing, but each to his/her own.

Total Assets (including unaudited revenue reserves at 24 January 2014) of £40.43


Net Assets (including unaudited revenue reserves at 24 January 2014) of £31.01m

The Net Asset Value (NAV) at 24 January 2014 was:

Number of shares in issue 16,550,000

Per Ordinary share (bid price) - including unaudited current period revenue* 187.35p
Per Ordinary share (bid price) - excluding current period revenue* 181.48p
Ordinary share price 185.00p
Discount to NAV (1.25)%
Ordinary shares have an undated life


ZDP share 108.56p 8,500,000

ZDP shares are held in a subsidiary and have a redemption date of 8 January 2018


*Current period revenue covers the period 01 May 2013 to 24 January 2014,
including a one off special dividend from Avesco PLC of £500,500
equivalent to 3.02 pence per ordinary share.

skin looking good worth a long term hold.

The Company has today declared a fourth interim dividend and Special Dividend
in respect of the year 1 May 2013 to 30 April 2014.

The fourth interim dividend of 2.40p per Ordinary share will be paid on 10 July
2014 to the holders of Ordinary shares on the register at 27 June 2014, with an
ex-dividend date of 25 June 2014.

The Special Dividend of 2.75p shall be paid on 10 July 2014 to holders of
Ordinary shares on the register at 27 June 2014, with an ex-dividend date of
25 June 2014.

The Company announces:

Total Assets (including unaudited revenue reserves at 20 June 2014)
of £41.08m

Net Assets (including unaudited revenue reserves at 20 June 2014) of £31.63m

The Net Asset Value (NAV) at 20 June 2014 was:

Number of shares in issue
Per Ordinary share (bid price) - including unaudited current period revenue* 191.13p 16,550,000
Per Ordinary share (bid price) - excluding current period revenue* 182.60p
Ordinary share price 190.75p
Discount to NAV (0.20)%
Ordinary shares have an undated life

ZDP share 111.14p 8,500,000
ZDP shares are held in a subsidiary and have a redemption date
of 8 January 2018

*Current period revenue covers the period 01 May 2013 to 20 June 2014, including
a one off special dividend from Avesco PLC of £500,500 equivalent to 3.02 pence
per Ordinary share.

Net Assets Values


The Company announces:

Total Assets (including unaudited revenue reserves at 30 September 2014)
of £39.89m

Net Assets (including unaudited revenue reserves at 30 September 2014) of £30.26m

The Net Asset Value (NAV) at 30 September 2014 was:

Number of shares
in issue
Per Ordinary share (bid price) - including
unaudited current period revenue* 182.81p 16,550,000
Per Ordinary share (bid price) - excluding
current period revenue* 180.78p
Ordinary share price 163.00p
Discount to NAV (10.84)%
Ordinary shares have an undated life

ZDP share 112.96p 8,500,000
ZDP shares are held in a subsidiary and have a redemption date
of 8 January 2018

*Current period revenue covers the period 01 May 2014 to 30 September 2014




Top 20 Holdings as at 30 September 2014 was:



Name of company % of portfolio

1 Marshalls 2.53
2 GVC Holdings 2.50
3 Acal 2.48
4 KCOM Group 2.38
5 Alumasc Group 2.22
6 Stadium Group 2.18
7 Jarvis Securities 2.18
8 Braemar Shipping 2.18
9 Marstons 2.04
10 Connect Group 1.97
11 Go-Ahead Group 1.92
12 Town Centre Securities 1.91
13 Avesco Group 1.90
14 Shoe Zone 1.90
15 Tritax Big Box 1.90
16 Wilmington Group 1.90
17 St Ives 1.88
18 Personal Group 1.85
19 Chesnara 1.79
20 MacFarlane Group 1.74

Balance held in 56 holdings 58.65
100.00

cheers

Net Asset Value(s)

SMALL COMPANIES DIVIDEND TRUST PLC

The Company announces:

Total Assets (including unaudited revenue reserves at 24 October 2014) of £38.86m

Net Assets (including unaudited revenue reserves at 24 October 2014) of £29.22m

The Net Asset Value (NAV) at 24 October 2014 was:

Number of shares in issue 16,550,000
Per Ordinary share (bid price) - including unaudited current period revenue* 176.56p
Per Ordinary share (bid price) - excluding current period revenue* 173.59p
Ordinary share price 159.00p
Discount to NAV (9.95)%
Ordinary shares have an undated life

ZDP share 113.39p 8,500,000
ZDP shares are held in a subsidiary and have a redemption date of 8 January 2018

*Current period revenue covers the period 01 May 2014 to 24 October 2014

Dividend Declaration

DIVIDEND DECLARATION

The Company has today declared a second interim dividend in respect of the year
1 May 2014 to 30 April 2015.

A second interim dividend of 1.575p per Ordinary share will be paid on
9 January 2015 to the holders of Ordinary shares on the register at 12 December
2014, with an ex-dividend date of 11 December 2014.

It is the Board's intention, over time, to move the dividend profile gradually
to a position where the four interim dividends paid are equal. This will be
achieved by maintaining the fourth interim dividend at the same level and
increasing the first, second and third dividends in future years to reflect
earnings.

Net Asset Value(s)

Total Assets (including unaudited revenue reserves at 05 December 2014)
of £39.97m

Net Assets (including unaudited revenue reserves at 05 December 2014) of £30.26m

The Net Asset Value (NAV) at 05 December 2014 was:

Number of shares in issue 16,550,000
Per Ordinary share (bid price) - including
unaudited current period revenue* 182.87p
Per Ordinary share (bid price) - excluding
current period revenue* 178.81p
Ordinary share price 163.00p
Discount to NAV (10.87)%
Ordinary shares have an undated life

ZDP share 114.15p 8,500,000
ZDP shares are held in a subsidiary and have a redemption date of 8 January 2018

*Current period revenue covers the period 01 May 2014 to 05 December 2014

Half-yearly report

NAV _________

Net Asset Value(s)

Released 17:39 03-Jun-2015



Small Companies Dividend Trust PLC

The Company announces:

Total Assets (including unaudited revenue reserves at 31/05/2015) of £44.68m

Net Assets (including unaudited revenue reserves at 31/05/2015) of £34.7m

The Net Asset Value (NAV) at 31/05/2015 was:

Number of shares in issue:

Per Ordinary share (bid price) - including unaudited 209.66p 16,550,000
current period revenue*

Per Ordinary share (bid price) - excluding current 204.43p
period revenue*

Ordinary share price 175.00p

Discount to NAV (16.53)%

Ordinary shares have an undated life

ZDP share 117.42p 8,500,000

ZDP share price 125.25p

Premium to NAV 6.67%

ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018

*Current period revenue covers the period 01/05/2014 to 31/05/2015




Name of company % of portfolio

1 Acal Plc Ordinary 5p 2.71

2 Clarke (T.) Plc Ordinary 10p 2.66

3 Connect Group Plc Ordinary 5p 2.44

4 Dairy Crest Group Plc Ordinary 25p 2.35

5 Braemar Shipping Services Plc GBp 10 2.29

6 Avesco Group Plc Ordinary 10p 2.25

7 Alumasc Group (The) Plc Ordinary 2.23 12.5p

8 Kcom Group Plc Ordinary 10p 2.21

9 Wilmington Plc Ordinary 5p 2.12

10 GVC Holdings Plc Common EUR0.01 2.11

11 Marston's Plc Ordinary 7.375p 2.11

12 Epwin Group Plc Ordinary 10p 2.10

13 Intermediate Capital Group Plc 2.06
Ordinary 20p

14 Town Centre Securities Plc REIT 25p 2.04

15 Moss Bros Group Plc Ordinary 5p 1.96

16 DX Group Plc GBP0.01 1.84

17 Stadium Group Plc Ordinary 5p 1.80

18 Macfarlane Group Plc Ordinary 25p 1.73

19 Personal Group Holdings Plc Ordinary 1.65 5p

20 St.Ives Plc Ordinary 10p 1.65

Dividend Declaration

SMALL COMPANIES DIVIDEND TRUST PLC

The Company has declared a fourth interim dividend and Special Dividend in
respect of the year 1st May 2014 to 30th April 2015.

A fourth interim dividend of 2.40p per Ordinary share will be paid on 3rd July
2015 to the holders of Ordinary shares on the register at 26th June 2015, with
an ex-dividend date of 25th June 2015.

The Special Dividend of 0.30p shall be paid on 3rd July 2015 to holders of
Ordinary shares on the register at 26th June 2014, with an ex-dividend date of
25th June 2015.

luv it cheers skinny

Yes - high of the year+ yesterday and still trading at a NAV discount.

NAV _________

Net Asset Value(s)

The Company announces:

Total Assets (including unaudited revenue reserves at 07/08/2015) of £45.94m

Net Assets (including unaudited revenue reserves at 07/08/2015) of £35.85m

The Net Asset Value (NAV) at 07/08/2015 was:

Number of shares in issue:

Per Ordinary share (bid price) - 216.61p 16,550,000
including unaudited current period revenue*

Per Ordinary share (bid price) - 212.73p
excluding current period revenue*

Ordinary share price 180.50p

Discount to NAV (16.67)%

Ordinary shares have an undated life


ZDP share 118.70p 8,500,000

ZDP share price 125.13p

Premium to NAV 5.41%

ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018


*Current period revenue covers the period 01/05/2014 to 07/08/2015


Name of company % of portfolio


1 Avesco Group Plc Ordinary 10p 3.34

2 Clarke (T.) Plc Ordinary 10p 2.53

3 Connect Group Plc Ordinary 5p 2.52

4 Jarvis Securities Plc Ordinary 1p 2.33

5 Alumasc Group (The) Plc Ordinary 2.29
12.5p

6 Kier Group PLC Ordinary 1p 2.23

7 Kcom Group Plc Ordinary 10p 2.13

8 Braemar Shipping Services Plc GBp 2.09
10

9 Dairy Crest Group Plc Ordinary 25p 2.01

10 Town Centre Securities Plc REIT 25p 2.01

11 Wilmington Plc Ordinary 5p 1.99

12 Acal Plc Ordinary 5p 1.94

13 Marston's Plc Ordinary 7.375p 1.91

14 GVC Holdings Plc Common EUR0.01 1.91

15 Games Workshop Group Plc Ordinary 1.85
5p

16 DX Group Plc GBP0.01 1.84

17 Macfarlane Group Plc Ordinary 25p 1.80

18 Stadium Group Plc Ordinary 5p 1.76

19 Brown (N) Group Ordinary 11.052p 1.74

20 Hansard Global Plc Ordinary 0.5p 1.73

Dividend Declaration

SMALL COMPANIES DIVIDEND TRUST PLC

INTERIM DIVIDEND

The Company has today declared a first interim dividend in respect of the year 1 May 2015 to 30 April 2016.

A first interim dividend of 1.70p per Ordinary share will be paid on 5 October 2015 to the holders of Ordinary shares on the register at 25 September 2015, with an ex-dividend date of 24 September 2015.

18 month high @193.50p.

NAV on the up again.

NAV _________

nice

Half-year Report

Released 07:00 15-Dec-2016


CHELVERTON SMALL COMPANIES DIVIDEND TRUST PLC
HALF-YEARLY REPORT
For the six months ended 31 October 2016

The full Annual Report and Accounts can be accessed via the Investment Manager's website at www.chelvertonam.com or by contacting the Company Secretary on telephone 01245 398984.

Investment Objective and Policy

The investment objective of Chelverton Small Companies Dividend Trust PLC (‘the Company’) is to provide Ordinary shareholders with a high income and opportunity for capital growth, having provided a capital return sufficient to repay the final capital entitlement of the Zero Dividend Preference shares issued by the subsidiary company, Chelverton Small Companies ZDP PLC (‘SCZ’).

Chelverton Small Companies Dividend Trust PLC, incorporated on 3 September 2003 with number 3749536, and its subsidiary Chelverton Small Companies ZDP PLC, incorporated on 13 July 2012 with number 8142169, together form the Group (‘the Group’). The Group’s funds are invested principally in smaller capitalised UK companies. The portfolio comprises companies listed on the Official List and companies admitted to trading on AIM. The Group does not invest in other investment trusts or in unquoted companies. No investment is made in preference shares, loan stock or notes, convertible securities or fixed interest securities.

Interim Management Report

Results

This half-yearly report covers the six months to 31 October 2016. The net asset value per Ordinary share at 31 October 2016 was 205.66p down from 211.95p at 30 April 2016, a decrease of 2.97% in the past six months compared to an increase of 6.13% in the MSCI UK Small Cap Index.

Since the beginning of the Company’s financial year, the Ordinary share price has increased from 190.5p to 191.5p at 31 October 2016, an increase of 0.5%, whilst the discount has decreased from 10.12% to 6.9% over the same period. Since then the share price has increased further to 203p as at 12 December 2016.

Dividend

A first interim dividend of 1.85p (2015: 170p) per Ordinary share was paid on 3 October 2016. The Board has declared a second interim dividend of 1.85p per Ordinary share (2015: 1.70p) payable on 3 January 2017 to shareholders on the register on 9 December 2016, making a total for the half year of 3.70p per Ordinary share (2015: 3.40p) an increase of 8.8%. At present it is anticipated that the Company will maintain this level of dividend for the third quarter and will maintain the same level for the fourth interim as was paid last year making a total normal dividend of 7.95p for the year.

Portfolio

In the last six months we have increased our investment in seventeen of our existing holdings, taking advantage of lower share prices, including Alumasc Group, Belvoir Lettings, Braemar Shipping Services, Brewin Dolphin Holdings, Brown (N) Group, Centaur Media, DX Group, Foxtons Group, Galliford Try, Gattaca, Go-Ahead Group, Huntsworth, Low and Bonar, Martin McColls Retail Group, Regional REIT, RTC Group and St Ives.

During the period we have added three new names to the portfolio, Conviviality – drinks distributor and retailer, Victrex – producer of high performance polymers and Watkin Jones – property development and construction.

Funds were raised from the sale of nine of our holdings, Premier Farnell, Charlemagne Capital, Dee Valley Group and Avesco Group were all taken over in the period and NWF Group, RWS Holdings, Fenner, Ashmore Group and Electrocomponents were sold in their entirety. The following holdings were reduced as they grew to become larger weightings on lower yields, Dairy Crest Group, GVC Holdings, Intermediate Capital Group, KCOM Group and Sanderson Group.

Outlook

Following a strong recovery in the second three months of the period following the “knee-jerk” downward reaction by markets to the outcome of the Referendum vote Small and Mid-Cap companies are now consolidating these gains.

As we expected last year there has been a significant increase in takeover activity in the period. It is pleasing to highlight four takeovers in the portfolio over the past six months which is a considerable increase over any six month period for the past seven years. It is likely that there will be more takeovers in the next period.

The European situation with respect to Brexit, the migrant crisis, the Italian situation, the ongoing problems in Greece and Portugal and the uncertainty from multiple national elections have cast a cloud over European economic performance. UK growth remains solid and it is hoped that growth in the Eurozone will gradually begin to move more positively in the near future.

The dividends of the underlying companies continue be increased in a healthy manner and we believe that this will continue into 2017 with company balance sheets currently in a strong state.

more.....

Net Asset Value(s)

Chelverton Small Companies Dividend Trust PLC
The Company announces:

Total Assets (including unaudited revenue reserves at 16/12/2016) of £46.68m
Net Assets (including unaudited revenue reserves at 16/12/2016) of £35.76m

The Net Asset Value (NAV) at 16/12/2016 was:

Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue* 216.04p 16,550,000
Per Ordinary share (bid price) - excluding current period revenue* 211.49p
Ordinary share price 208.00p
Discount to NAV (3.72)%
Ordinary shares have an undated life
ZDP share 128.50p 8,500,000
ZDP share price 134.50p
Premium to NAV 4.67%
ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018
*Current period revenue covers the period 01/05/2016 to 16/12/2016


Name of company % of portfolio
1 Games Workshop Group Plc Ordinary 5p 2.92
2 Belvoir Lettings Plc Ordinary 2.63
3 Coral Products Plc Ordinary 1p 2.55
4 McColl's Retail Group Plc Ordinary 0.1p 2.42
5 Amino Technologies Plc GBp 1 2.31
6 Galliford Try Plc Ordinary 50p 2.29
7 Connect Group Plc Ordinary 5p 2.22
8 Kier Group PLC Ordinary 1p 2.17
9 Moss Bros Group Plc Ordinary 5p 2.13
10 Mucklow (A&J) Group Plc REIT 25p 2.08
11 Alumasc Group (The) Plc Ordinary 12.5p 2.07
12 Curtis Banks Group Plc GBp0.5 2.07
13 Brown (N) Group Ordinary 11.052p 1.96
14 Shoe Zone (Holdings) Limited Ordinary 1p 1.96
15 Marston's Plc Ordinary 7.375p 1.94
16 Numis Corporation Plc Ordinary 5p 1.88
17 Jarvis Securities Plc Ordinary 1p 1.86
18 GLI Finance Ltd 1.77
19 Photo-Me International Plc Ordinary 0.5p 1.76
20 Park Group Plc Ordinary 2p 1.76

STILL NICE

Net Asset Value(s)
Released 10:00 06-Feb-2017


Chelverton Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 31/01/2017) of £48.48m
Net Assets (including unaudited revenue reserves at 31/01/2017) of £37.47m
The Net Asset Value (NAV) at 31/01/2017 was:
Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue* 226.43p 16,550,000
Per Ordinary share (bid price) - excluding current period revenue* 221p
Ordinary share price 208.75p
Discount to NAV (7.81)%
Ordinary shares have an undated life
ZDP share 129.44p 8,500,000
ZDP share price 134.50p
Premium to NAV 3.91%
ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018

Name of company % of portfolio
1 Games Workshop Group Plc Ordinary 5p 3.50
2 Belvoir Lettings Plc Ordinary 2.75
3 Amino Technologies Plc GBp 1 2.29
4 Galliford Try Plc Ordinary 50p 2.29
5 McColl's Retail Group Plc Ordinary 0.1p 2.23
6 Alumasc Group (The) Plc Ordinary 12.5p 2.21
7 Curtis Banks Group Plc GBp0.5 2.20
8 Moss Bros Group Plc Ordinary 5p 2.10
9 Connect Group Plc Ordinary 5p 2.05
9 Kier Group PLC Ordinary 1p 2.05
11 Polar Capital Holdings Plc GBp 2.5 1.98
12 Marston's Plc Ordinary 7.375p 1.96
13 GLI Finance Ltd 1.95
14 Mucklow (A&J) Group Plc REIT 25p 1.95
15 Jarvis Securities Plc Ordinary 1p 1.93
15 Numis Corporation Plc Ordinary 5p 1.93
17 Shoe Zone (Holdings) Limited Ordinary 1p 1.91
18 Park Group Plc Ordinary 2p 1.89
19 Brown (N) Group Ordinary 11.052p 1.86
20 Gattaca Plc Common GBp1 1.85

CLOSE

still in

Net Asset Value(s)

Chelverton Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 17/02/2017) of £49.12m
Net Assets (including unaudited revenue reserves at 17/02/2017) of £38.08m
The Net Asset Value (NAV) at 17/02/2017 was:
Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue* 230.11p 16,550,000
Per Ordinary share (bid price) - excluding current period revenue* 224.47p
Ordinary share price 222.50p
Discount to NAV (3.31)%
Ordinary shares have an undated life
ZDP share 129.79p 8,500,000
ZDP share price 134.00p
Premium to NAV 3.24%
ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018
*Current period revenue covers the period 01/05/2016 to 17/02/2017


Name of company % of portfolio
1 Games Workshop Group Plc Ordinary 5p 3.53
2 Belvoir Lettings Plc Ordinary 2.53
3 Galliford Try Plc Ordinary 50p 2.37
4 Amino Technologies Plc GBp 1 2.35
5 McColl's Retail Group Plc Ordinary 0.1p 2.24
6 Curtis Banks Group Plc GBp0.5 2.23
7 Alumasc Group (The) Plc Ordinary 12.5p 2.17
8 Kier Group PLC Ordinary 1p 2.09
9 Moss Bros Group Plc Ordinary 5p 2.05
10 Connect Group Plc Ordinary 5p 2.04
11 Jarvis Securities Plc Ordinary 1p 2.04
12 Mucklow (A&J) Group Plc REIT 25p 1.98
13 Numis Corporation Plc Ordinary 5p 1.92
14 Marston's Plc Ordinary 7.375p 1.91
15 Shoe Zone (Holdings) Limited Ordinary 1p 1.91
16 Polar Capital Holdings Plc GBp 2.5 1.84
17 Brown (N) Group Ordinary 11.052p 1.82
17 Park Group Plc Ordinary 2p 1.82
19 Gattaca Plc Common GBp1 1.80
20 Photo-Me International Plc Ordinary 0.5p 1.79

A new high @235.50p

Net Asset Value(s)

The Company announces:
Total Assets (including unaudited revenue reserves at 05/05/2017) of £54.53m
Net Assets (including unaudited revenue reserves at 05/05/2017) of £42.24m

The Net Asset Value (NAV) at 05/05/2017 was:

Number of shares in issue: 16,800,000
Per Ordinary share (bid price) - including unauditedcurrent period revenue* 251.45p
Per Ordinary share (bid price) - excluding current period revenue* 244.71p
Ordinary share price 235.00p
Premium / (Discount) to NAV (6.54)%
Ordinary shares have an undated life
ZDP share 131.40p 9,349,000
ZDP share price 136.25p
Premium to NAV 3.69%
ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018
*Current period revenue covers the period 01/05/2016 to 05/05/2017


Name of company % of portfolio
1 Curtis Banks Group Plc GBp0.5 2.37
2 StatPro Group Plc Ordinary 1p 2.31
3 Amino Technologies Plc GBp 1 2.29
4 Games Workshop Group Plc Ordinary 5p 2.25
5 Belvoir Lettings Plc Ordinary 2.20
6 McColl's Retail Group Plc Ordinary 0.1p 2.16
7 Acal Plc Ordinary 5p 2.12
8 Gattaca Plc Common GBp1 2.05
9 Alumasc Group (The) Plc Ordinary 12.5p 2.04
10 Braemar Shipping Services Plc GBp 10 2.01
11 Brown (N) Group Ordinary 11.052p 1.94
12 Connect Group Plc Ordinary 5p 1.91
13 Moss Bros Group Plc Ordinary 5p 1.90
14 Jarvis Securities Plc Ordinary 1p 1.87
15 Marston's Plc Ordinary 7.375p 1.85
16 Polar Capital Holdings Plc GBp 2.5 1.80
17 Galliford Try Plc Ordinary 50p 1.79
18 Numis Corporation Plc Ordinary 5p 1.78
19 Mucklow (A&J) Group Plc REIT 25p 1.76
20 Diversified Gas & Oil Plc Ordinary 1p 1.75

Another new high @256.50p

Net Asset Value(s) Released 14:37 01-Nov-2017


The Company announces:

Total Assets (including unaudited revenue reserves at 31/10/2017) of £60.08m

Net Assets (including unaudited revenue reserves at 31/10/2017) of £47.43m

The Net Asset Value (NAV) at 31/10/2017 was:

Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue* 266.84p 17,775,000
Per Ordinary share (bid price) - excluding current period revenue* 262.52p
Ordinary share price 266.50p

Premium / (Discount) to NAV (0.13)%
Ordinary shares have an undated life
ZDP share 135.30p 9,349,000
ZDP share price 137.00p
Premium to NAV 1.25%
ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018

*Current period revenue covers the period 01/05/2016 to 31/10/2017

Name of company % of portfolio
1 Diversified Gas & Oil Plc Ordinary 1p 2.78
2 McColl's Retail Group Plc Ordinary 0.1p 2.39
3 Jarvis Securities Plc Ordinary 1p 2.35
4 StatPro Group Plc Ordinary 1p 2.29
5 Acal Plc Ordinary 5p 2.12
6 Belvoir Lettings Plc Ordinary 2.11
7 Alumasc Group (The) Plc Ordinary 12.5p 2.06
8 Gattaca Plc Common GBp1 2.04
9 Galliford Try Plc Ordinary 50p 2.04
10 Personal Group Holdings Plc Ordinary 5p 2.03
11 Connect Group Plc Ordinary 5p 1.84
12 Amino Technologies Plc GBp 1 1.83
13 Braemar Shipping Services Plc GBp 10 1.80
14 Numis Corporation Plc Ordinary 5p 1.79
15 Curtis Banks Group Plc GBp0.5 1.78
16 Marston's Plc Ordinary 7.375p 1.78
17 Ramsdens Holdings Plc Ordinary 1.78
18 Brown (N) Group Ordinary 11.052p 1.76
19 De La Rue Plc Ordinary 44.868p 1.75
20 Mucklow (A&J) Group Plc REIT 25p 1.64

more.....

Potential Capital Raise

As previously announced by the Board on 13 January 2017, the Directors have been considering the options for a refinancing of the Zero Dividend Preference shares, which are due for final repayment on 8 January 2018. In light of the Company’s strong and sustained track record as well as the availability of attractive investments, the Board believes that it is an appropriate point to seek to increase the size of the Company and raise additional capital. Accordingly, the Company is proposing an issue of C shares through a placing, intermediaries offer and offer for subscription of C Shares as well as an issue and placing of new ZDP Shares in connection with recommended proposals for the reconstruction and winding-up of Existing ZDP Co (collectively, the “Issue”).

The Company is seeking to raise up to £75 million new Ordinary shares, subject to market conditions and there being sufficient investor appetite for the C shares on agreeable terms. In addition, the Company will seek to issue c. £30 million of new ZDPs, on a term of 7.3 years with a gross redemption yield of 4.00 per cent. with an initial target cover ratio of circa 3.7x, subject to the level of rollover elections received. The existing investment objective and policy will remain unchanged and the Company intends to use the Net Proceeds of the Issue to add to existing holdings and to make new investments.

The Company will provide a further update in due course, as appropriate.

Publication of a Prospectus

Placing, Intermediaries Offer and Offer for Subscription of C Shares

and

Issue of ZDP Shares in connection with the recommended proposals for the reconstruction and winding-up of Chelverton Small Companies ZDP PLC and Placing of ZDP Shares

and

Placing Programme of Ordinary Shares and ZDP Shares

Publication of a Prospectus


Further to the announcement on 6 November 2017, the Company announces that it has published a prospectus (the "Prospectus") in relation to:

· an offer of C Shares comprising a maximum of 75 million C Shares to be issued at the Issue Price of 100 pence per share through a placing (the "Placing"), Intermediaries Offer and Offer for Subscription (together, the "Issue");

· an issue of up to approximately 30 million ZDP Shares pursuant to a rollover offer ("Rollover") and ZDP Placing ("ZDP Placing") which will involve the liquidation of Existing ZDPCo and issuance of new 2025 ZDP Shares ("ZDP Shares") by SDV 2025 ZDP PLC ("2025 ZDPCo") (together, the "ZDP Issue"), a wholly owned subsidiary of the Company (the "Scheme"). 2025 ZDPCo will issue ZDP Shares at the ZDP Issue Price of 100 pence per ZDP Share; and

· a Placing Programme of up to 30 million Ordinary Shares (the "Placing Programme") and 7.5 million ZDP Shares (the "ZDP Placing Programme").


The ZDP Shares will have a life of 7.3 years and will have a Final Capital Entitlement of 133.18 pence per ZDP Share on 30 April 2025, equivalent to a gross redemption yield of 4 per cent with an initial target cover ratio of circa 3.75x, subject to the level of take up of the Issue and rollover elections received pursuant to the Scheme.

The C Shares will convert into Ordinary Shares on the basis of the Conversion Ratio calculated at the Calculation Date. Details of the terms and timing of conversion can be found in the Prospectus. The existing investment objective and policy will remain unchanged and the Company intends to use the Net Proceeds of the Issue to add to existing holdings and to make new investments.

The Company has also published a circular (the "Company Circular") today convening a General Meeting to propose resolutions to grant the directors the power to allot the C Shares pursuant the Issue, disapply existing statutory rights of pre-emption in relation to the Issue and Placing Programme, grant the power to allot New Ordinary Shares pursuant to the Placing Programme, approve amendment to the Existing Articles, grant the Directors the power to allot Ordinary Shares, and renewal of the authority granted to the Company to buy back its Ordinary Shares in the market.

Existing ZDPCo has published a circular ("Existing ZDPCo Circular") today convening general meetings of Existing ZDPCo to approve the Scheme and to place Existing ZDPCo into members' voluntary liquidation.

The Company will provide a further update in due course, as appropriate.

Publication of documents

The Prospectus and Circulars will shortly be available for inspection at the National Storage Mechanism (http://www.morningstar.co.uk/uk/nsm), and also on the Company's website (http://chelvertonam.com/fund/small-companies-dividend-trust-plc), subject to applicable securities laws, and are available for viewing at the Company's registered office at Springfield Lodge, Colchester Road, Springfield, Chelmsford, CM2 5PW.


Expected timetable

General Meeting of the Company
9.00 a.m. on 12 December 2017
First General meeting of Existing ZDPCo
9.15 a.m. on 12 December 2017
Latest time and date for commitments under the Placing
12.00 p.m. on 15 December 2017
Announcement of the result of ZDP Shares to be issued pursuant to the Scheme
8.00 a.m. on 19 December 2017
Latest time and date for receipt of completed applications from Intermediaries in respect of the Intermediaries Offer
11.00 a.m. on 21 December 2017
Latest time and date for receipt of completed Application Forms in respect of the Offer for Subscription
11.00 a.m. on 21 December 2017
Announcement of the results of the Placing, Intermediaries Offer and Offer for Subscription and the number of C Shares to be issued
8.00 a.m. on 22 December 2017

Announcement of the number of ZDP Shares to be issued pursuant to the ZDP Placing
8.00am on 5 January 2017
Effective Date for the Scheme
8 January 2018
Initial Admission and Initial ZDP Admission and dealings in C Shares and ZDP Shares issued in uncertificated form commence
8.00am on 8 January 2018
CREST accounts credited with uncertificated C Shares and uncertificated ZDP Shares
8 January 2018
Definitive share certificates in respect of C Shares and ZDP Shares dispatched by post in the week commencing
15 January 2018


Placing Programme and ZDP Placing Programme opens
9 January 2018
Latest date for issuing Ordinary Shares and ZDP shares under the Placing Programme and the ZDP Placing Programme respectively
23 November 2018


(i) All times and/or dates in the Expected Timetable set out above and in the Prospectus generally may be subject to adjustment
(ii) Any changes to the Expected Timetable set out above will be notified by the Company through a Regulatory Information Service.
(iii) All references to times above and in the Prospectus are to London time.