Pacific Assets Regulatory News (PAC)

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required by DR 3.1.4R(1).

(1) An issuer making a notification in respect of a transaction relating to
the shares or debentures of the issuer should complete boxes 1 to 16, 23
and 24.

(2) An issuer making a notification in respect of a derivative relating to
the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16,
23 and 24.

(3) An issuer making a notification in respect of options granted to a
director/person discharging managerial responsibilities should complete
boxes 1 to 3 and 17 to 24.

(4) An issuer making a notification in respect of a financial instrument
relating to the shares of the issuer (other than a debenture) should
complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

PLEASE COMPLETE ALL RELEVANT BOXES IN BLOCK CAPITAL LETTERS.

1. Name of the issuer:

PACIFIC ASSETS TRUST plc

2. State whether the notification relates to:

i. a transaction notified in accordance with DR 3.1.4R(1)(a); or

(ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985; or

(iii) both (i) and (ii)

(iii) BOTH (i) AND (ii)

3. Name of person discharging managerial responsibilities/director:

MR MARTIN LAU (PERSON DISCHARGING MANAGERIAL RESPONSIBILITY)

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person:

AS IN 3 ABOVE

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest:

AS IN 3 ABOVE

6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares:

ORDINARY 12.5p SHARES

7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them:

NOT STATED

8. State the nature of the transaction:

ACQUISITION

9. Number of shares, debentures or financial instruments relating to shares acquired:

170,000 ORDINARY SHARES

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage):

0.15%

11. Number of shares, debentures or financial instruments relating to shares disposed:

NOT APPLICABLE

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage):

NOT APPLICABLE

13. Price per share or value of transaction:

121.6407p PER SHARE

14. Date and place of transaction:

25 April 2012, LONDON
15. Total holding following notification and total percentage holding following
notification (any treasury shares should not be taken into account when
calculating percentage):
240,000 ORDINARY SHARES

0.21%

16. Date issuer informed of transaction:

26 APRIL 2012

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17. Date of grant:

-

18. Period during which or date on which it can be exercised:

-

19. Total amount paid (if any) for grant of the option:

-

20. Description of shares or debentures involved (class and number):

-

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise:

-

22. Total number of shares or debentures over which options held following notification:

-

23. Any additional information:

24. Name of contact and telephone number for queries:

MARK POPE, COMPANY SECRETARY

TEL: 020 3 008 4913
Name and signature of duly authorised officer of issuer responsible for making
notification:
MARK POPE
Date of notification:
26 APRIL 2012
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