Portfolio

Contents

Page 3 Accessories & Apparel

Page 4 Bella FreudPage 5 Bella Freud Parfum Page 6 Troubadour GoodsPage 7 PenfieldPage 8 Kat MaconiePage 9 Chucs

Page 10 Health & Fitness

Page 11 PlenishPage 12 KX Members ClubPage 13 Dilly & WolfPage 14 Boom Cycle

Page 15 Hospitality

Page 16 ChilangoPage 17 Five GuysPage 18 Sourced MarketPage 19 La BottegaPage 20 Chucs Bar & GrillPage 21 Second Home

Page 22 Media & Technology

Page 23 Boat InternationalPage 24 Zenos CarsPage 25 Rated PeoplePage 26 BlazePage 27 Stillking Films

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Important Information

This financial promotion has been approved by Oakley Capital ManagementLimited, which is authorised and regulated by the Financial Conduct Authority(FRN: 506482) and has its registered office at 3 Cadogan Gate, London, SW1X 0AS.

This document is for information purposes only and any decision to invest shouldbe made solely by reference to the Pembroke VCT plc prospectus andsubscription documents. This document does not constitute or form part of anysale, solicitation or offer to buy or subscribe for any securities.

This document is intended for existing shareholders in Pembroke VCT Plc andshould not be distributed to anyone other than the intended recipients.

No warranty, representation or undertaking is given that any informationcontained herein is accurate, complete or suitable and all liability is excluded in respect of such information.

Nothing in this document constitutes investment, financial, legal or tax advice –prospective investors are advised to seek independent advice before investing.

Past performance is not a reliable indicator of future results. Prospective investors should be aware that the value of an investment in a VCT depends on the performance of the VCT’s underlying assets, the value of which may rise and fall. The value of the new shares can therefore fluctuate and investorsmay not get back the amount they originally invested. In addition, there is nocertainty that the market price of shares in a VCT will fully reflect the underlyingnet asset value, that investors will be able to realise their shareholding or that anydividends will be paid. Investment in Pembroke VCT plc should be viewed as alonger-term investment.

The availability of any tax advantages of investing in VCTs is dependent on eachinvestor’s individual circumstances, and the rules and legislation containing thesetax advantages are subject to change.

Potential investors should consult the detailed risk warnings contained in the prospectus.

Accessories & Apparel3

Bella Freud:

Bella Freud launched her first collection in 1990, having trained in Rome and spent time designing for Vivienne Westwood. Twenty years later her two-collection-a-year eponymous label isas desirable as ever; blending heritage with modernity, originalitywith accessibility. Her signature sweaters featuring quirky motifsare consistently met with a surge of press excitement and thebrand’s cult following includes some of the world’s most stylishwomen such as Kate Moss, Alexa Chung, Laura Bailey and CaraDelevigne. Bella’s distinctive tone of voice coming from a familyof wordsmiths and artists has ensured her iconic status within theindustry and her clothing brand is stocked in a number ofpremium stockists including Harrods and Net-a-Porter.

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Bella Freud Parfum:

Building on the success of her fashion business, Bella Feudlaunched her debut Eau de Parfum collection in collaboration with Azzi Glasser. An award winning perfumer and a modern dayicon in the perfume industry, Azzi has designed a number ofground-breaking fragrances for brands including Agent Provocateur,Nicole Farhi and Alexander McQueen. Azzi and Bella have workedtogether to capture the unique story and evocative mood of theBella Freud brand. The resulting first three fragrances were launchedexclusively in Harvey Nichols in July 2014.

‘Je t’aime Jane’ is girlish and playful, leaving a trail of delicateintrigue. She is the free spirit with a guitar, a baby and long barelegs. ‘Ginsberg is God’ conjures up the tousled headed poetsurrounded by books and papers, the scent of green leaves and spring drifting through the open windows while ‘1970’ is thehedonist, the girl dancing until dawn on the beach of Formentera,the smell of incense in the warm night air.

Alongside the perfumes, the team have created a range ofcandles which are available to buy at exclusive outlets includingNet-a-Porter and Space NK. The candles which include IncenseWood & Oud, Snow Lily and Fig Leaf & Tomato are like miniencapsulations of evocative moments - both real and imagined.

“Each candle s like a small piece of fashion but recast for a new mood.” Bella Freud

Troubadour Goods:

Functional Design. Incredible Craftsmanship. Modern Aesthetic.Investment Pieces. Troubadour Goods is a London-based modernmenswear brand specializing in designing and creating superiorhandcrafted leather goods. The Troubadour name pays homage to the stories surrounding the artisans who create their products, aswell as the stories their products will witness in customers’ life travels.

The Troubadour team spent years in pursuit of a well-designed, high-quality overnight bag that could transition seamlessly fromsituation to situation, be it a quick business trip or a casual weekend away with friends. The longer they searched, the moresurprised they were to find that something so simple, so essential did not exist. So, after much careful deliberation, they embarked on a journey to create the ideal bag.

The goal was to produce a classic, durable bag that marriedfunction and style – one you’d happily carry with you for years andyears, one that would age beautifully and hold within it the manystories of your life adventures. It was from this idea, along with themany talented artisans whose handiwork is responsible for theseproducts, that Troubadour was born.The brand is now stocked at anumber of prestigious retailers internationally, including Harrods and Harvey Nichols.

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Penfield:

Penfield was established in Hudson, Massachusetts in 1975, by HarveyGross. A pioneering figure in the American outerwear industry sincethe early 1960s. Gross recognized and championed the strength ofdown insulated outerwear for its unique and unrivalled ability toprovide strong, durable warmth and protection. Requiring a specialmanufacturing process and with only a few factories in the worldhaving expertise in producing down insulated apparel, Grossdecided to acquire a small manufacturing plant within an old textilemill in Hudson to produce Penfield's high quality down filled garments.

Over the years, Penfield has become one of the market leaders atproducing high quality outerwear embodying the stylish 'NewEngland' aesthetic. Distributed through department stores andboutiques before catching the attention of the American outdoorspeciality industry and catering to enthusiasts of life in the open.

It was this stylish New England aesthetic, that helped to introduce the American outerwear look to an international market and Penfield began exporting to Japan in 1979. Since then, high-profilecollaborations, innovative fabric developments together with anunfaltering commitment to quality, function and style have all caughtthe attention of top global retailers including Barney's, Nordstrom,J.Crew, Ron Herman, Liberty, Harrods and key independents. Thebrand has steadily become recognized worldwide for its high quality,stylish apparel. Today, Penfield is available in 30 countries worldwideand always designed For Life in the Open.

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Kat Maconie:

Kat Maconie, a born and bred London girl, started her career infashion assisting stylists at leading fashion publications. Whilst laterworking at luxury brand Whistles and haute couture designerTomasz Starzewski, she began attending evening classes at theLondon College of Fashion pursuing an increasing interest in shoedesign. The first Kat Maconie collection was launched in 2009,inspired by her mother’s extensive art deco jewellery collection withone gold framed ring sparking the idea for her signature framedheel. With an emphasis on geometric shapes, gold hardwaredetails and clean lines, her shoes today are designed for a womanlike herself, confident and with a strong sense of style.

The combination of Kat’s entrepreneurial skills and creative eye hastaken the business from strength to strength. The brand is nowstocked in over 20 countries and in leading department storesaround the world including Selfridges and Shopbop. Her biannualcollections are press and celebrity favourites and regularly featurein magazines such as Vogue, Elle and Harpers Bazaar. With plansto open the first standalone Kat Maconie store in Shanghai for theAW14 launch and a further 5 by the end of 2014, Kat Maconie isset to continue its global expansion.

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CHUCS:

CHUCS designs and creates the highest quality clothing for themost discerning customers who share a passion for craftsmanship,beauty and adventure. Their mission is to create the best fittinggarments that are high performance whilst encapsulating theunderstated elegance of the glamorous old world Caribbean. The brand is available to buy at some of the finest retailers andhotels worldwide.

Charles Finch was inspired by the legendary panache of hisgrand-father George Ingle-Finch, who invented the down-filledjacket in 1922. Nostalgic for the sartorial style he was witness togrowing up in Jamaica immersed in the movie business circles ofhis father Peter Finch, he launched CHUCS in 2011 to createexquisitely well-made clothes, classic in style with an understatedcharm, for the man at leisure.

The journey began by creating a range of swim shorts and poloshirts, stylish yet practical for all of a gentleman’s adventurouspursuits. Attention to detail led the team on a journey sourcing thehighest quality fabrics and creating delicately beautiful prints thatnow adorn a full range of leisure wear garments for both ladiesand gentlemen. The style is always classic; clothes that will getbetter with age, reminiscent of old world design houses creatinggarments that transcend time and fashion. The majority ofproducts are handcrafted in the CHUCS Lake Como factory,celebrating the rich heritage and uncompromising commitmentto quality of Italian craftsmanship and manufacturing techniques.

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Health & Fitness10

Plenish:

Plenish, founded by Kara Rosen, offers the UK's best cold pressedjuices and detox cleanses. The products are created to allow yoursystem the necessary rest in order to stay in tiptop shape and keepup with a full and hectic lifestyle.

Plenish uses a hydraulic press process, gently extracting the naturalvegetable and fruit juice from organic produce whilst retaining thephytonutrients, vitamins, trace minerals, enzymes, and other vitalelements. This results in the finest quality and flavour which isunequalled by any other method of juice extraction. The process isan external one, meaning the sealed, fresh bottle of juice issubmerged into a cold tank of water - the same effect assubjecting the food to an ocean depth of 60 Kilometres deep.Using pressure instead of traditionally used heat to preventbacteria, makes the juice safer to consume and extends the shelflife, naturally.

At the online Plenish juice boutique you can pick and mix to createa box of your favourite juices or if you want an ongoing daily juicefix, you can subscribe to a weekly juice delivery. Plenish juices arealso now available to buy straight off the shelf at stockists includingSelfridges, Harvey Nichols, Ocado and Wholefoods in convenient250ml bottles. So instead of popping in to your usual coffee houseto cure the mid-afternoon slump, you can now get a nutritionboost at locations throughout London & the UK.

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KX Members’ Club

Founded 12 years ago in the heart of Chelsea, London, KX is a private members’ club that’s dedicated to health, fitness and wellbeing. KX recognises the importance of synergy between these areas and each member is provided with a bespoke personal health and fitness program based on the findings of some of the most cutting-edge informationfrom functional medicine, nutrition, exercise science andphysiological assessments.

The club hosts a state of the art gym with the most highlyregarded personal trainers, the latest fitness equipment and awide variety of classes that are kept deliberately small to ensurethat all members receive personal attention and guidance.Fitness experts work in conjunction with leading therapists fromthe KX medi-spa, an urban oasis offering an extensive range oftreatments by industry renowned practitioners.

The members-only KX restaurant offers a fantastic selection ofdelicious and healthy gourmet food and refreshing beverages.Combining modern interior design with classic materials, tocreate a calm and timeless luxury, KX is a truly unique institution.

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Dilly & Wolf:

Dilly & Wolf thought it was time that healthier snacks traded in the brown sandals for the little black dress. Born in January 2013, Dilly & Wolf specializes in British, hand-baked snacks with flavoursinspired by travels. The idea was born out of collaborationbetween Ben Fogle, his wife Marina, and ex Marks & Spencerproduct developer Annabel Vere Nicoll.

Together, and on a mission to create a healthier range of snacksfor the UK market, the founders assembled a broader team of foodexperts that shared the vision and passion to produce amazingquality food with true provenance based stories. Harriet Aitken andAnnette Peters from The Food Practice have led the developmentfor the range and Wendy Fogarty has driven sustainability andsourcing for the brand, with over 40 years of collective industryexperience behind-the-scenes, helping to create four amazingflavours. The snacks are currently available to buy in premiumstockists including Selfridges and Ocado.

"We always struggled to find what we were looking for in terms of ahealthier, nutritious and delicious savoury snack. We did not wantto deliver just another granola bar or a low-fat crisp, and were notmotivated by some of the new-age healthy snack alternatives. We wanted to create something that was locally produced, with a strong British heritage, as well as having the added benefit ofbeing nutritious and delicious!"

At Dilly & Wolf, the team are passionate about flavour and taste,and as a result, they really care about where their ingredientscome from, how they are grown, how they are processed, and how they are packaged. They scrutinize every ingredient,measuring its value against strict internal criteria of taste,sustainability and nutrition. Only those that tick all those boxesmake it into the Dilly & Wolf larder...

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Boom Cycle:

Boom Cycle is a new indoor work-out concept which offers a fun, high-intensity cardiovascular workout on exercise bikes. With the lights low and the world-class sound system kicking out high energymusic you’ll be swept away into an immersive experience where the world outside will cease to exist and it’ll just be you, your bike, your goals and at the end, your accomplishments. One of the firstdedicated cycling studios to open in London there are now twostudios, in Shoreditch and Holborn.

Boom Cycling is a fun and inclusive experience, getting you fitter,supporting you and motivating you all the way through your fitnessjourney. Music playlists are compiled by the Director of Music, MarcusJames, ex-DJ and producer in the European electronic music scene.The cycle studios are dimly lit to create a personal ambience withstadium-level seating to ensure a view of the instructor from any bike.You can also expect a bright and energetic reception and excellentchanging facilities.

The Boom Cycle community is the heart and soul of Boom Cycle.Instructors are always happy to offer advice and help riders set goals. It is a place to find like-minded people with fitness goals of allshapes and sizes where there is always a friendly face and someone to learn from. In a Boom Cycling session YOU decide how far you want to push yourself, the instructors are there to guide you, carry youand encourage you along your ride. This workout is for all, from firsttimers looking to kick start their fitness regime to hardened triathletesand cyclists looking for that extra motivation. Everyone can be, and is part of, the Boom Cycle experience. Come join the party…..

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Hospitality15

Chilango:

Everyone’s got a favourite food. One of Chilango’s founders, Eric,grew up in Chicago, where he developed a real passion for Mexicancuisine, regularly dining out on tacos, burritos and the like. He lovedthe stuff. But when he came to work in London, there was nowherehe could go to satisfy his cravings. Things were looking desperate.Then Eric met Dan, Chilango’s other founder, discovered he was alsoa Mexican food fanatic, and the pair made it their mission to bringthe fresh, delicious flavours that they both love to the UK.

Eric and Dan gave up their jobs and embarked on a gastroadventure, looking for culinary inspiration. They went to Mexico City,Zihuatenejo, Ixtapa (and a few other places that they can’t spell), as well as Chicago, Los Angeles and San Francisco – home to three of the largest Mexican communities in the USA. Along the way they met everyone from street vendors to high-class restaurantchefs, family cooks to fellow foodies.

Their quest? To find out what makes Mexican cuisine so amazing.Inspired by the sheer energy and lust for life they encountered in the Mexican people, not to mention the colour, variety, andunbelievable flavours of the food they tasted, they went into thekitchen and didn’t come out again until their recipes were goodenough to share.

At Chilango, what you see is what you get. All the food is prepared in front of you while you wait, using quality, fresh from the marketingredients that are literally bursting with flavour. ‘Chilango’ isMexican slang for someone who’s moved to the bright lights ofMexico City looking for fun and adventure and that’s what sums upthe brand. Passionate, daring and with a large dash of cheeky Latinspirit. Come and experience Chilango for yourself at one of the sixcentral London sites, including Upper Street and Chancery Lane.

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Five Guys:

Five guys first opened its doors in Covent Garden in July 2013 and has since expanded to a total of twelve sites across the UK,stretching from Glasgow to Guildford.

The global brand has been a Washington, DC area favourite since1986 when Jerry and Janie Murrell offered sage advice to the four young Murrell brothers: "Start a business or go to college". The business route won and the Murrell family opened a carry-outburger joint in Arlington, Virginia. Under the guidance of Jerryand Janie, the Murrell family served only hand-formed burgerscooked to perfection on a grill along with fresh-cut fries cooked in pure peanut oil. The little burger joint quickly developed a cult-like following. Press paid attention. Customers voted the burger"#1" in the metro area.

During the 1980's and 1990's the Murrell family perfected theirsimple system. Five Guys was The Place to get a fresh, juicy burgerwith all the toppings you could stuff between fresh-baked buns. A fifth brother was born and, as their family grew, so did theirbusiness. Four more restaurants with sit-down seating were addedto accommodate the growing clientele.

Now, over 20 years after Five Guys first opened, there are over 1,000 locations nationwide and over 1,500 units in development.Five Guys continues to receive media attention and has grown acult-like following around the world.

Sourced Market:

Since 2007, Sourced Market has been championing small, localproducers and helping to make their produce available to all, at a fair price. Ben O’Brien founded the business when herecognised growing demand for locally sourced product and set out with a mission to bring the concept of a farmer’s market to the convenience sector.

The brand’s first permanent site inside St.Pancras International isbursting at the seams with a fantastic range of carefully sourcedartisan produce to enjoy at home or at their communal tables.Whether a coffee first thing in the morning, lunchtime sandwich ora craft beer and charcuterie platter in early evening, the Sourcedteam is dedicated to sourcing responsibly, respecting the seasonsand working with independent producers. The team isknowledgeable and passionate about what they do - makingfantastic food available in a convenient and affordable way.

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La Bottega:

La Bottega is your local Italian caffè bar and deli offering simply thefinest Italian food, bringing together regional delicacies, specialityfoods and fresh Mediterranean dishes. Make yourself at home,sample delicious home cooked food, enjoy excellent coffee anddiscover an extensive range of premium Italian groceries and drinksto take away.

The team’s passion for taste, tradition and the flavours of Italy isboundless, and they only work with a select number of suppliers who share this passion. There are six delicatessen sites, includingEccleston street and Monmouth Street, which are light and airy, witha contemporary feel complemented by rustic baskets housingattractive displays of produce. They are the ideal places to meet yourfriends and taste the gastronomic delights in authentic Italian style.

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Chucs Bar & Grill:

Chucs Bar and Grill, a classically styled bijous restaurant in the heartof Mayfair serving breakfast, lunch and dinner opened its doors inJuly 2014. Led by esteemed Roman Chef, Alessandro Verdenelli, theBar and Grill offers an Italian Transatlantic menu of classic favourites.Think Veal Milanese, Taglioni Cacio e Pepe, a house Cobb Saladand Pizza Bianca with truffles, all washed down with their signaturemartinis. The interior of the restaurant is designed to feel like ayacht; warm and intimate with wood panelling and navy leatherbanquettes. The street-side tables beneath a grotto-blue awningfinish off the relaxed Mediterranean feel.

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Second Home:

Second Home, launching in East London in 2014 will be the world'smost iconic space for entrepreneurs and creative businesses.

The new venture will offer flexible and modern office space for fast-growing technology firms and creative businesses. Combiningarchitectural design with first class amenities, Second Home willprovide users with a unique and impressive office environment inwhich to locate their businesses for short, medium and long-term.

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Media & Technology22

Boat International:

Boat International Media Limited is the world’s leading mediagroup serving the superyacht industry. The group publishes theworld’s best superyacht magazines and luxury books, organises highquality events, and provides digital media services and data toowners and professionals in the superyacht industry. The productsare targeted to deliver buyers, sellers and operators of superyachtsto builders, brokers and service companies that operate within theglobal superyacht market across all media types.

Boat International Media provides tailored mixed media solutions totheir customers that are innovative, high quality, high impact andthat deliver effective results. All their products are produced to thehighest possible standards; employing the world’s best specialistjournalists and photographers working across print, online anddigital video. The media group also organises the most prestigiousevents in the superyacht calendar at the most exclusive locations.

Boat International Media produces over 1.4 million magazines each year that sell in over 57 countries worldwide andare published in 5 differentlanguages. They organise 10 annual events in London,Montenegro, Ft Lauderdale,Palm Beach, Porto Cervo and The British Virgin Isles. In addition, the group owns theworld’s most comprehensivedatabase of superyachts andtheir social and businessnetworking tool for superyachtcaptains and crew can befound at www.dockwalk.com.

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Zenos Cars:

Zenos cars are passionate and knowledgeable about sports cars.Founders Ansar Ali and Mark Edwards who previously ran CaterhamCars, launched Zenos to create lightweight sports cars with thrillingdriveability; involving, uncomplicated and fun.

It goes without saying that the cars they design have outstandingperformance and handling thanks to innovative engineering and an openness to learn from the past. But what else? Well, Zenos offers experiences that go beyond the thrill of simply driving a sportscar. Zenos owners will have unique and intimate access to a brandthat foremost is passionate and inclusive about everything it does.

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Rated People:

Founded in 2005, Rated people is the UK’s largest online traderecommendation service and its mission is to connect homeownerswith the very best local tradesmen. Homeowners who are in needof a tradesman can post jobs for free on Rated People and receivequotes from up to 3 interested tradesmen.

Only homeowners who have foundtheir tradesman through Rated Peoplecan leave ratings, so they are alwaysbased on genuine experiences fromprevious customers. These ratings,based on quality, value and reliability,allow other homeowners to confidentlyhire a tradesman they can trust. The tradesmen can in turn use theirratings on Rated People to build theirreputation and portfolio of local clients.

Every month Rated Peopleintroduces more than 50,000homeowners to quality, localtradesmen they can trust.

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Blaze:

The Blaze team love bikes and love cities. They want to make this relationship work.

Blaze endeavour to inspire more people to enjoy life on a bike. They design products to tackle the bumps in the way of safe andhappy cycling. They talk to the community and experts in orderto solve real problems with simple, intelligent products, usinginnovative technology.

Because more people on bikes mean safer roads for all of us.Blaze pledge to keep listening to this ever-growing cyclingcommunity to flatten their obstacles, or jump on newtechnological opportunities.

The flagship product is the Blaze Laserlight. This world’s first andpatented bike laserlight projects an image five to six meters onthe ground ahead of you to let people know that you’re coming.It tackles the number one cause of accidents with bikes: the blindspot.

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Stillking Films:

Stillking Films is a prolific producer of commercials, TV series, feature films and music videos. The company has createdcommercials for almost all Dow Jones and FTSE advertisers. They have co-produced a number of successful feature filmsincluding Casino Royale, Narnia, Mission Impossible 4 and TheBourne Identity and created music videos for artists includingBeyonce, Kanye West, Blur, Madonna and One Direction.

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